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
IPCA Laboratories is acquiring 33.38% from the promoters of Unichem Laboratories (UL). Promoters before this transaction owned 50.94% of UL. Out of the balance, 9.85% was held by the institutions and 39.21% by the retail investors. Â Transaction is announced @ Rs 440/ share aggregating to Rs 1,034.06 cr. This implies a premium of about 17% … Read more
As per the newspaper reports, Nestle is in discussions to acquire Mumbai-based Capital Foods Pvt Ltd (CFPL). CFPL makes the Ching’s Secret brand of spicy noodles and fusion chutneys infused with so-called “desi Chinese” flavors. It also sells Smith & Jones cooking pastes and masala mixes. The Company was promoted by the current Chairman, Ajay … 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
Mahanagar Gas (MGL) is acquiring 100% of Unison Enviro Private Limited (UEPL). UEPL incorporated in December 2015, is a subsidiary of Ashoka Buildcon. The Company has been supported by Morgan Stanley India Infrastructure fund since pre revenue days. It has been granted authorization from Petroleum and Natural Gas Regulatory Board (PNGRB) to develop City Gas … Read more
Minda Corporation has acquired 15.70% stake in Pricol through open market transactions. Shares have been acquired @ Rs 209/ share, similar to the current prevailing price. The amount spent on acquisition is Rs 400 cr Did Pricol promoters also sold any shares? Promoters held 36.53% stake in Pricol as at December 31, 2022. Of the … Read more
Vedanta has approved the sale of it’s international Zinc assets in South Africa and Namibia to it’s subsidiary Hindustan Zinc (HZL). The transaction is valued at $2.98 bn (approx Rs 25,000 cr) It’s an all-cash deal, which would be completed in a phased manner over 18 months Valuations are estimated at 14.9x FY 24 EV/EBITDA. … Read more
Sona BLW Precision Forgings Ltd. (Sona Comstar) has signed an agreement to acquire 54% equity stake in NOVELIC, a Serbian Company founded in 2012. NOVELIC is primarily into providing sensor based solutions for smart vehicles. Sona’s immediate objective is to use it’s own existing client relationships to ramp up NOVELIC’s ADAS (Advanced Driver Assistance Systems) … Read more