Mergers And Acquisitions
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Dr Reddy's Labs to acquire branded generics business of Wockhardt for Rs 1,850 cr; deal to help scale-up presence in home market
Fp Staff •Dr Reddy's will acquire select divisions of its branded generics business in India and a few other international territories of Nepal, Sri Lanka, Bhutan and Maldives.
Allcargo Logistics becomes single-largest shareholder in Gati after it acquires nearly 13% stake in courier delivery services firm
Fp Staff •Allcargo had acquired 27 lakh shares in Gati in the previous week through open market purchases.
Zomato acquires Uber Eats in an all-stock deal; to get around 10% shares in Gurgaon-based food delivery platform
Fp Staff •Despite arriving in the Indian market in 2017, Uber Eats has not made enough inroads in the online food delivery segment
Inefficient aircraft bloat aviation losses; Chinese firm Jingye Group's bid for British Steel; all this and more on Moneycontrol Pro
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Govt-constituted panel suggests green channel CCI approval for deals under insolvency law
•Suggesting substantial changes to competition regulatory framework, a government-constituted high-level panel has recommended a green channel for automatic approval of certain combinations, including those under the insolvency law, by the Competition Commission
'Bharti Infratel, Indus Towers merger expected to be completed by August'
•Last year, Bharti Airtel, Idea Cellular and Vodafone Group had announced an agreement for merger of Indus Towers and Bharti Infrate
Mindtree AGM: L&T CEO tells IT firm shareholders company will be operated 'at arm's length' from group's entities
•L&T CEO and MD S N Subrahmanyan addressed the shareholders of Mindtree for the first time after the takeover on Tuesday
Deutsche Bank axes whole teams in Asia-Pacific as 18,000 job cuts begin; to scrap global equities business
•Deutsche Bank had some 4,700 staff in Sydney, Tokyo, Hong Kong and Singapore, showed factsheets on its website.
Mindtree says L&T has 'acquired control' of firm, categorised as promoter with 60.06% stake
•Construction major L&T held 9.87 crore equity shares in Mindtree as on 2 July following its recently-concluded open offer
L&T pays Mindtree shareholders who tendered shares in open offer; infra major's open offer was at Rs 980 a share
•L&T's deal marks India's first-ever hostile takeover bid in the IT space