Adani group to exit Adani Wilmar, sell stake to raise over $2 billion

NEW DELHI: Adani group on Monday announced its complete exit from the FMCG joint venture Adani Wilmar, selling its entire stake to Singapore-based partner Wilmar International and through the open market, with total proceeds expected to surpass $2 billion.Adani Enterprises Ltd, which owned a 43.94% stake in Adani Wilmar Ltd, has announced plans to sell […]

Foxconn opts to hold Nissan stake interest

Foxconn, the Taiwan-based manufacturer of iPhones, is putting its interest in pursuing Nissan Motor on hold while the Japanese automaker is in negotiations for a potential merger with Honda Motor, according to a person familiar with the matter.The decision to pause comes after Foxconn sent a delegation to meet with Renault – which owns 36% […]

UltraTech Cement gets CCI’s clearance to acquire majority stake in India Cements

NEW DELHI: The Competition Commission of India (CCI) on Friday cleared billionaire Kumar Mangalam Birla-promoted UltraTech Cement’s proposal to acquire a majority stake in India Cements. “The proposed combination envisages UltraTech Cement Ltd’s (UltraTech/acquirer) acquisition of 32.72 per cent of the paid-up equity share capital of India Cements Ltd (India Cements/target) from the promoters and […]

UK government nod for Bharti’s 25% stake buy in BT

NEW DELHI: The British govt on Monday approved Bharti Global‘s purchase of a 24.5% stake in London-listed BT, following a detailed national security assessment and assurances from the telecom company.The purchase of the shares, worth 3.2 billion pounds, was made from the previous top investor, Patrick Drahi‘s Altice, under the terms set out by Bharti […]

JK Paper’s strategic merger to increase Harsh Pati Singhania & family’s stake

MUMBAI: In a move to rationalise its corporate structure, JK Paper, under the leadership of Harsh Pati Singhania, is combining several of its arms with itself, which will also enhance the Singhania family’s ownership in India’s foremost branded paper and packaging board manufacturer. The company, listed on Mumbai’s stock exchanges, is merging three wholly-owned subsidiaries […]

Akasa Air gets funding boost! Azim Premji-Ranjan Pai family offices to buy significant minority stake

The budget carrier aims to raise $130-140 million through this transaction. Akasa Air stake sale: A consortium led by Premji Invest and Claypond Capital, representing the Bengaluru-based family offices of Wipro founder Azim Premji and Manipal group chief Ranjan Pai, is set to acquire a substantial minority stake in Akasa Air, according to informed sources.The […]