May 17, 2013
Telenor, Norway's telecommunications company, has hinted that that it will look at mergers and acquisitions (M&A) with other mobile phone companies in India. But the company said that it will move in that direction only after India offers more clarity on its M&A rules.
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Merger & Acquisitions |
May 09, 2013
On May 3, 2013, the Bombay High Court cleared the Composite Scheme of Amalgamation and Arrangement between JSW Steel and JSW Ispat Steel, both the firms informed the Bombay Stock Exchange (BSE). Post-merger, promoters of JSW Steel will hold 35.12 per cent in the merged entity, while company's second largest shareholder JFE Steel holding will come down to 14.9
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Iron & Steel |
May 07, 2013
In order to pick up stake in foreign mining assets, Coal India (CIL) decided to rope in additional merchant bankers. Currently, RBS, Bank of Canada and BofA-Merrill Lynch along with its Indian arm DSP Merrill Lynch are the merchant bankers for CIL. The state-run miner invited expressions of interest from merchant bankers on possible targets, besides extending the
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Coal |
April 29, 2013
Country Club India's petition for sanctioning the scheme of amalgamation of Amrutha Estates & Hospitality with itself, has been approved, the firm has informed the Bombay Stock Exchange (BSE).
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Hospitality |
April 24, 2013
The Union government on April 19 announced relief for special economic zones (SEZs) by tweaking the minimum-land-area requirement and allowing change in ownership. In its last supplement to the Foreign Trade Policy (FTP), 2009-14, the Commerce Department, however, did not meet the much-awaited demand for doing away with the minimum alternate tax (MAT) on SEZs.
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SEZ |
April 18, 2013
Pratip Chaudhuri Chairman of State Bank of India (SBI) informed reporters that the capital condition of the bank is favourable for the merger of its associate banks with itself. Without giving a timeline for the merger, he said the bank is now open to merging its associate entities. The move will further enhance its already enormous balance shee
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Banking & Finance |
April 16, 2013
Delhi government has decided to merge two of its power generation companies into a single unit to streamline operations. Delhi Chief Minister Sheila Dikshit said that to ensure better functioning of the generating unit, the Cabinet has decided to merge the Pragati Power Corporation (PPCL) into the Indraprastha Power Generation Company (IPGCL), thereby retaining the latter’s name.
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Power |
April 09, 2013
The Union Ministry of Heavy Industries and Public Enterprises has kick-started a long-proposed amalgamation plan for two engineering companies – Braithwaite, Burn & Jessop Construction (BBJ) and Bharat Bhari Udyog Nigam (BBUNL). As a first step, the Ministry has given additional charge of CMD of these PSUs to Kallol Datta, the CMD of Andrew Yule & Co.
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Merger & Acquisitions |
March 26, 2013
In order to create a steel company of global scale and bring down costs of production, the Committee on Public Undertakings suggested the merger of state-owned steel giants Steel Authority of India (SAIL) and Rashtriya Ispat Nigam (RINL). In a recent report, the panel, which is a body of Lok Sabha members, asked the government to specify clearl
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Iron & Steel |
March 19, 2013
The Union Government has said that the enhanced powers delegated under ‘Maharatna’ status would help Bharat Heavy Electricals (BHEL) to achieve its long-term objectives, such as tap bigger opportunities for equity participation in large size power projects, pursue merger & acquisition opportunities in the areas of transportation, transmission, power & energy sectors, build its businesses including in defence and exports, and position senior level executives to oversee/ manage new entities.
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Power |
March 13, 2013
The Minister of Steel, Beni Prasad Verma has said that Steel Authority of India (SAIL) has planned to enhance production capacity of Gua iron ore mine to 10 mn tpa from the existing level of 2.4 mn tpa. In a written reply in the Lok Sabha he said, the proposal for capacity expansion and setting up of 12.5 mn tpa Beneficiation and 4 mn tpa Pellet Plant was appr
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Mining |
February 18, 2013
Pune-based Kinetic group on February 13 stated that completion of a restructuring plan under which its erstwhile two-wheeler business Kinetic Motor Co (KMC) has been merged with automotive components arm Kinetic Engineering. The group also said Kinetic Engineering has received approval from RBI for extension of conversion or redemption of $18 million FCCB till February 2014.
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Merger & Acquisitions |