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Nasdaq-listed Perrigo Company has acquired an 85% stake in Mumbai-based Vedants Drugs and Fine Chemicals. Sources revealed that Perrigo taken the decision on acquiring stake as it plans to make India a major global production base for the company. Presently, Vedants is setting up a new European Union and US Food and Drug Administration- (FDA) complaint manufacturing facility at Ambernath, near Mumbai. […] India's biggest mobile operator Bharti Airtel (Bharti) and South African telecom major MTN Group announced last week that they have extended the deadline for exclusive merger talks till September 30, indicating that the two parties are close to clinching the deal, which is being billed as India's biggest-cross border deal, eclipsing Tata Steel's acquisition of Anglo-Dutch steel major Corus for $12.2 billion in 2006 and would create an emerging markets giant with 200 million mobile subscribers in more than 20 countries across India, Africa and the Middle East. The deadline extension has, however, created concerns among investors in India and market watchers claimed that the deal structure is too complex to succeed.In India the deal could also face regulatory issues. Analysts have also brushed aside concerns that FDI restrictions in India could pose a problem. […] Mortgage loans lender LIC Housing Finance (LICHF) is likely to finalise a partner for its real estate venture capital fund by the end of this month, a top company official said. LICHF is launching a Rs 500-crore real estate venture capital fund and has been scouting for a domestic partner. The fund is slated to be launched by end-September. “The Board Committee on the venture capital fund is likely to decide the final partner by the end of this month,'' LIC Housing Finance Director and Chief Executive Mr R R Nair told PTI here. […] Anil Ambani-run Reliance Money may acquire five per cent more stake in the National Multi-Commodity Exchange of India (NMCE) to take its total holding to 15 per cent in line with the new guidelines. “As per the new guidelines issued by the Forward Markets Commission (FMC), we can take an additional five per cent stake in NMCE,” Reliance Money Managing Director Sudip Bandyopadhyay told PTI here. […] |