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Gujarat NRE Coke Ltd has announced that the Company has signed an Agreement with Illawarra Coal Holdings Pty Ltd (Illawarra Coal), a subsidiary of BHP Billiton Ltd., for the acquisition of the Elouera Colliery in NSW, Australia through its Australian subsidiary Gujarat NRE FCGL Pty Ltd. The mine has large available reserves of premium grade Hard Coking Coal (as referenced in BHP Billiton's 2006 Annual Report). This would be the third coking coal mine to be acquired by the Company after NRE No. 1 Colliery and NRE Avondale Colliery. With this acquisition the Company's short term production of coal is expected to be boosted from 1 million MTPA to around 2 million MTPA. […]
Kavveri Telecom has purchased DCI Digital Communications, a provider of Radio Frequency Interference (RFI) products. The deal was closed at CAD 2 million.
The Company will be headed by Uma Reddy as President in Canada. “Acquisition of DCI will give … […]
HDFC has bought out its US partner Chubb from its non-life insurance joint venture. The shareholders have approached IRDA with their decision to part ways. After the buyout, HDFC Chubb General Insurance will be a wholly-owned subsidiary of HDFC. The corporation is likely to bring in another foreign partner in the future. HDFC has already been approached by insurance groups from the US, Europe and Japan for its proposed non-life venture. […]
Infotech Enterprises, a geospatial, design engineering and software services and solutions company, has picked up 74 per cent stake in Hyderabad-based Geospatial Integrated Solution Private (Geospace Integra) for Rs 2.96 crore. Under the terms of the agreement, both the companies will merge their geospatial business in India and West Asia into a single entity. The new entity, which will operate as a subsidiary of Infotech, will be led by Chandrasekhar Nori, chief promoter and managing director of Geospace Integra. […]
India Infoline which signed an agreement last year with DSP Merill Lynch to sell its shareholding in subsidiary Moneyline Credit Pvt Ltd (formerly Khambhat Investment & Trading Company Private Limited), has called off the deal citing prolonged delays in completing the transaction. According to a regulatory filings with Bombay Stock Exchange, India Infoline said “owing to prolonged delays in finalisation of the transaction and changed business plans, the MoU was mutually terminated with immediate effect”. […]
Zydus group’s Cadila Healthcare has entered into a share purchase agreement with Ambalal Sarabhai Enterprises to acquire the remaining 50% holding in their JV company, Sarabhai Zydus Animal Health. This acquisition will make the company a 100% subsidiary of Cadila … […]
State Bank of India and Life Insurance Corporation are among the front runners to pick up stake in the Asia's oldest bourse Bombay Stock Exchange, which has to demutualise by May 19.
Under demutualisation, the bourses has to off-load 51 … […]
Textiles firm RSWM Ltd. said on Friday it had acquired 50 percent stake in Spanish yarn-maker SISA S.A. for an undisclosed sum, which would expand its footprint in the higher value international yarn market.
The deal, through RSWM's overseas unit, … […]
Doha Bank of Qatar has agreed to take 49 per cent equity stake in Select Securities Group, which owns brokerage network under the brandname 'Investnet'. An agreement to this effect was signed by Select Securities Ltd Chairman and CEO Prince George and Doha Bank Deputy CEO R Seetharaman in the presence of Kerala Industries Minister Elamaram Kareem here. Kareem said during his recent tour of the Middle East he met several businessmen who were keen to invest in Kerala. […]
Deal values ICICI’s insurance, MF business at $10 bn. ICICI Holdings, which will control the insurance and mutual fund business of ICICI Bank, will go in for private placement of a 5 per cent stake to raise around $500 million. It has appointed JP Morgan as the financial advisor. ICICI Bank was looking at valuing ICICI Holdings at $10 billion, sources said. Vishaka Muley, chief financial officer of the group, refused to comment on the development. […]
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