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Standard Chartered Bank is all set to acquire 49% strategic stake in UTI Securities from Securities Trading Corporation of India (STCI) for nearly Rs 140 crore. The deal, that values the UTI Sec at Rs 280 crore, is set to be inked by the end of the week, market sources said. The deal values the company about Rs 15 crore higher than Rs 265 crore that STCI itself had paid when it bought the UTI Sec from its founder-promoter, Specified Undertaking of the Unit Trust of India (SUUTI) in April 2006. Under the terms of the deal, Standard Chartered Bank will have the option to buy another 25% from STCI after a year. […]
High end telecom products manufacturer, Kavveri Telecom Products Ltd, has acquired Canada's DCI Digital Communications, a Canadian company that specialises in Radio Frequency Interference (RFI) products which reduce interference problems in the 30 MHz to 6 GHz range.
The products … […]
Leading biotech company Avesthagen and French plant breeding major Groupe Limagrain on Wednesday said they have jointly acquired majority stakes in two Indian seed companies. The two partners said that they will hold majority stake in Hyderabad-based integrated field crop seeds company Swaghat Seeds Pvt Ltd and Bangalore-based vegetable seeds company Cee Kay Seeds and Seedlings Pvt Ltd. […]
Money manager Franklin Resources said on Wednesday it paid $89.7 million in cash to buy the 25 percent interest in two Indian joint ventures that it did not own.
Franklin said in a filing it bought out the Indian joint ventures … […]
India-based diamond and jewelry company Shrenuj & Company Limited announced the acquisition of US-based Simon Golub & Sons Inc. (SGS), which is one of the top five jewelry distributors in America. The deal is valued at US$22.7 million for acquiring … […]
French bank BNP Paribas said on Wednesday it will pay 1.97 billion rupees ($48.2 million) for a 49.9 percent stake in India's Sundaram Home Finance Ltd, extending its presence in the fast-growing economy.
BNP Paribas, the euro zone's second biggest … […]
Swiss cement maker Holcim on Tuesday acquired 3% stake in ACC, India’s second-largest cement firm, for around Rs 529 crore. AV Birla-controlled UltraTech is the largest cement maker in the country. Subsequent to the share purchase, Holcim’s holding in ACC has moved up to about 41%. […]
Construction and real-estate company Madhucon Projects Ltd has acquired a 5,000- hectare coal-mining block in Indonesia, in line with its pursuit of getting into the energy sector.
The coal mine in the East Kaliyamandin region will be exploited immediately with … […]
The shareholders of India have agreed to sell their 51% stake in the agency to their international partners the Interpublic Group. The shares were held by 12 Lintas Employees Welfare Trusts. Confirming the development, Prem Mehta, chairman and managing director, Lintas India said, ” There is a proposal from IPG to acquire the shares held by the Indian shareholders in Lintas India Private Limited. […]
India’s biggest generic drug maker, Ranbaxy Laboratories, said yesterday it had sold 25% of its newly acquired Be-Tabs to black-owned Com- munity Investment Holdings (CIH).
The deal is estimated to be worth about R125m, and follows CIH’s purchase of a … […]
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