It’s an interesting transaction structure – 1st stage – ABFRL will acquire 51% of TCNS at Rs 503/ share for a total cash consideration of Rs 1,650 crore; implying a valuation of Rs 3,235 cr. This is similar to TCNS’s current market price. 20.19% to 29% through open offer. Open offer is to comply with … Read more
Apple outshines all of Berkshire Hathaway’s businesses, Warren Buffett says. The Berkshire CEO emphasized the immense value Apple’s customers place on their devices. Buffett touted the fact that Berkshire’s Apple stake grows as the tech titan buys back stock. Apple outclasses every single one of Berkshire Hathaway‘s subsidiaries, Warren Buffett says. “It just happens to … Read more
Restructuring/ consolidation continues at Raymonds. It has taken further key decisions – 1. The associate Company, Raymond Consumer Care Limited (RCCL), sells FMCG business to Godrej Consumer Products (GCPL). The divested business include condom brands KamaSutra and Premium and deodorant brands Park Avenue and DS. Raymond’s condom plant in Aurangabad, Maharashtra, will continue to do the … Read more
Midea Group Co. is exploring a potential acquisition of Electrolux AB, according to people familiar with the matter, a bold move by the Chinese home appliance giant to add the higher-end luxury Swedish brand despite potential political opposition. Midea made a preliminary approach in recent weeks to the white-goods manufacturer about a potential deal, said … Read more
Reliance is unstoppable for now. It’s launching/ acquiring/ partnering businesses across segments and industries. As part of it’s retail expansion strategy, the subsidiary Reliance Retail Ventures Limited (RRVL) has now entered into the beauty segment. Launched with an Omnichannel strategy combining both the online and offline route Tira website and app for ecommerce 1st physical … Read more
ITC‘s Chairman and MD, Sanjiv Puri has shared the following – Indian FMCG industry will bounce back by volume sales growth from FY24, led by rural demand, with early signs of recovery already visible. concerns around monsoons this year can be a dampener (he didn’t mention it) ITC will accelerate investments across businesses back to … Read more
Crompton had acquired controlling stake in Butterfly last year. For details check here. Currently, Crompton owns 75% stake in the Company, previous promoter group 7.78%, DIIs 5.61% and balance 11.58%Â by public. Crompton has now decided to merge Butterfly within itself. Consequently, there would be only one listed entity i.e., Crompton and other shareholders of … Read more
Alia Bhatt needs no introduction. But very few know that the actress is also quite a successful businesswoman. Bhatt’s firm, Ed-a-Mama, is said to be a Rs 150 crore brand now. Ed-a-Mamma caters to kids in the age range of 2–14 years and has been operating since October last year. On the brand, Alia Bhatt … Read more