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Siemens AG said it has acquired a 77 pct stake in India's iMetrex Technologies Ltd for an undisclosed amount in order to expand its building technologies operations. Siemens also said it has an option to acquire the remaining 23 pct stake in the company within the next five years. In the fiscal year to end-March, 2007, iMetrex had sales of 28 mln eur.Source : Forex TV Matsushita Electric Works Ltd. (TSE:6991) said Monday that it has acquired an 80 per cent interest in Anchor Electricals Private Ltd, India's No. 1 manufacturer of wiring devices. The move comes as the Japanese firm aims to lift overseas sales by entering the booming Indian market for home and office electrical equipment. Matsushita Electric Works bought the shares from the Shah founding family for roughly 50 billion yen (US$421.3 million). Anchor makes and sells wiring devices such as […] The Reserve Bank of India has approved the amalgamation of Sangli Bank Limited with ICICI Bank Limited . The effective date of the amalgamation is April 19, 2007. The amalgamation has already been approved by the Boards of Directors and … […] French electrical major Schneider Electricals SA is in advanced stages of negotiations with the Mumbai-based Shah family to acquire Anchor Electricals, the country’s leading electrical equipment maker. The deal is estimated to be worth over Rs 2,400 crore. […] GoAir, the Jeh Wadia-spearheaded private airline, will tap the capital market only after two years while being open to equity dilution in the form of strategic investments during the interim. “We will come out with our initial public offering (IPO) … […] Fidelity National Information Services has acquired Chandigarh-based Second Foundation (India) Private Ltd, an offshore global infotech services provider. US-based Fidelity is a leading provider of core processing for financial institutions, card issuer and transaction processing services, mortgage loan processing and mortgage-related information products. […] The Reserve Bank of India (RBI) has approved the merger of Sangli Bank with ICICI Bank. Following this, all Sangli Bank branches will start operating as ICICI Bank branches from tomorrow. ICICI Bank had okayed the merger of the privately-owned … […] In an all cash deal Ahemadabad based domestic pharma major Zydus Cadila has quired 100 per cent stake in Nippon Universal a generic drug manufacturing company based in Japan. The acquired company has a manufacturing plant near Tokyo and is … […] Golden Ace Pte, a joint venture between Dubai-based Emaar Properties PJSC and the MGF group, one of India’s leading real estate developers, has acquired a 61.3% stake in Singapore-based retail firm RSH for S&227 million. “We are excited to embark … […] India’s Essar Steel has agreed to acquire Canadian steelmaker Algoma for 1.85 billion Canadian dollars ($1.63 billion) in cash, giving it exposure to North American markets as it seeks to expand globally. “This acquisition fits in with our global steel … […] |