Here is a roundup of India monthly roundup of M&As and tie-ups in June.
India monthly roundup of M&As and tie-ups in June
- Affle, Microsoft-backed consumer Intelligence Company, has acquired mobile advertising company RevX Inc in an all-cash deal for an undisclosed amount.
- NCLT has approved resolution plan of Embassy Property to acquire Tiffins Barytes Asbestos for around Rs.89.4 Crores.
- Adani Power’s resolution plan to acquire GMR Chhattisgarh Energy has been approved by GMR lenders.
- L&T has acquired a controlling stake in Mindtree and is said to have increased its stake to 51 percent. Nalanda Capital also sold its entire 10.61% stake to L&T Rs.1, 707.46 crores.
- MobiKwik has tied up with DT One, a global mobile top-ups provider, to offer mobile recharges in 150 countries across 550 telcos.
- HDFC has agreed to acquire a majority stake in Apollo Munich Health Insurance for Rs.1347 Crores.
- Blackstone Group has acquired a marquee office building in the Bandra Kurla Complex of Mumbai for Rs.2, 500 crores.
- Japan’s Fuji Electric has entered into an agreement to acquire a 100% stake in Consul Neowatt Power Solutions, a UPS maker, reportedly for Rs.720 crores.
- NCLT has approved the planned merger of Bharti Infratel with Indus Towers.
- The shareholders of GSK Consumers Healthcare have approved its proposed merger with HUL with 99.99 percent votes in favor of the merger.
- Jaguar Land Rover and BMW Group will work together to develop next-gen electric drive units which will support both the companies’ overarching technology advancements.
More in India monthly roundup of M&As and tie-ups in June
- Blackstone Group and Embassy Group are set to jointly acquire the stake of Sameer Gehlaut (39%), Chairman of Indiabulls Group, in Indiabulls Real Estate for around Rs.2700 Crores. The move will also mark Indiabulls exit from the real estate business.
- Wipro will acquire US-based International TechneGroup Inc for $45 million. ITI offers Computer Aided Design and Product Lifecycle Management interoperability software services from its offices in the UK, Italy, Israel, and Germany.
- Paytm is in talks to acquire Coverfox, an insurance marketplace, in an all-cash deal for $100-200 million.
- Network18 Media has exited from HomeShop18 after a fresh round of funding saw Skyblue Buildwell acquiring an 82.64% stake. None of the existing shareholders in HomeShop18 took part in the funding round.