Top Stories
Tata Global Beverages announces JV with Starbucks
Tata Global Beverages Ltd. said that the Company has entered into a Joint Venture with Starbucks group. The newly formed Joint Venture company called Tata Starbucks Ltd. shall engage in the operation of Starbucks Cafes. The parties have signed the Joint Venture Agreement today which sets forth the vision of developing the business in India.
Each party will hold 50% in the JV.A Tata Coffee executive was quoted as saying that Starbucks would open its first flagship store in India around August-September of this year. The Seattle-based Starbucks had signed an agreement with Tata Global Beverages in January 2011 to buy coffee from India and open retail outlets in the country
The Walt Disney arm to acquire stake in UTV
The Walt Disney Company has announced that it will acquire, through a subsidiary ,a controlling interest in UTV, one of India's premier media and entertainment companies.
The acquisition will be completed through a successful delisting offer and will enable Disney to integrate UTV's current operations.UTV CEO Ronnie Screwvala has been named Managing Director, The Walt Disney Company India to Andy Bird, Chairman, Walt Disney International.
Fortis Healthcare arm acquires 85% stake in RadLink-Asia
Fortis Healthcare (India) Ltd has announced that Fortis Healthcare Singapore Pte. Ltd ("Fortis Healthcare Singapore"), our offshore subsidiary, has acquired 85% stake in RadLink-Asia Pte Ltd ("RadLink"), an outpatient diagnostic and molecular imaging chain in Singapore, for a purchase consideration of S$62.9 million.
The transaction provides Fortis Healthcare a strong foothold in the premium diagnostics and molecular imaging segment in one of Southeast Asia's most attractive markets besides providing a complementary platform to its upcoming specialty hospital on Adam Road in Singapore.Radlink has four main business segments; diagnostic imaging, molecular imaging, cyclotron (radio-isotopes manufacturing) and GP clinics.
In Focus Stories
Renewables M&A hits new record highs
Deals for 'new generation' renewable technologies – wind, solar, biomass - are entering the big time driving the market to new record highs, reports PwC in its annual global analysis of merger and acquisition (M&A) transactions in the renewable sector.
Deal values rose 40% year on year, from US$38.2bn in 2010 to a record level of US$53.5bn in 2011.
Billion dollar deals dominated, as solar, wind and energy efficiency deals overtook hydropower as the driver for big deal values for the first time. One in every three deals last year was solar and overall deal value for the sector is up 56% from US$10.2bn to US$15.8bn.
Domestic News
Aanjaneya Lifecare acquires Apex Drugs and Intermediates
Mumbai-based Aanjaneya Lifecare Limited has acquired Apex Drugs and Intermediates Ltd (ADIL), an integrated API and pharma intermediates manufacturing company based in Hyderabad. The acquisition was valued at Rs. 250 crore ; with Debt of Rs. 1.85bn and equity dilution of Rs. 650mn.Aanjaneya Lifecare Ltd has acquired ADIL’s assets, businesses, clients, licensees, employees and has merged both the companies’ operations, becoming a fully integrated formulation company. The company will also leverage the strong relations of ADIL developed in Asia, Europe, UAE & Latin America for exports. The acquistion also gives Aanjaneya an entry in Hyderabad market.
Binani Industries acquires 3B – The Fibreglass Company
Binani Industries Limited, the holding company of USD 1.6 billion Braj Binani Group, today announced the acquisition of 3B – The Fibreglass Company (‘3B’), a Europe-based major in fibreglass products and technologies. Binani Industries Limited is one of India’s leading global diversified business houses, with interests in cement, zinc, glass fibre, composites and ready-mix concrete. The Braj Binani Group has acquired a 100% equity interest in 3B from Platinum Equity.This acquisition is part of Braj Binani Group’s strategy to expand its footprint in the global fibreglass market. It further augments the Group’s technological and marketing capabilities in the fibreglass business.
Fidelity in talks to sell Indian MF biz: report
Persistent Systems acquires Openwave's location biz
Carlyle sells stake in HDFC...Stock falls
Warburg Pincus sells part stake in Kotak Mahindra Bank
Indoco Remedies signs strategic pact with DSM Pharma
Global News
Hutchison 3G Austria acquires Orange Austria for US$1.7bn
Hutchison 3G Austria, a subsidiary of Hutchison Whampoa Limited, announced today that it has entered into a binding agreement to acquire 100% of Orange Austria from Mid Europa Partners ("MEP") and France Telecom. As part of the overall transaction certain frequencies, base station sites, the mobile phone operator Yesss! Telekommunikation GmbH (“Yesss!”) as well as certain intellectual property rights of Orange Austria will be sold to Telekom Austria Group ("TA") immediately after the acquisition of Orange Austria.The agreement implies an enterprise value of approximately €1.3 billion for Orange Austria before the sale of assets to TA. TA’s consideration for all of the aforementioned assets is €390 mn.
ABB to acquire Thomas & Betts for US$3.9bn
ABB, the leading power and automation technology group, and Thomas & Betts Corporation, a North American leader in low voltage products, today announced that both companies’ boards of directors have agreed to a transaction in which ABB will acquire Thomas & Betts for US$72 per share in cash or approximately US$3.9bn.
The acquisition price represents a 24% premium to Thomas & Betts’ closing stock price on Jan. 27, 2012 and a 35% premium to the volume weighted average stock price over the past 60 trading days. The transaction is subject to approval by Thomas & Betts shareholders as well as to customary regulatory approvals, and is expected to close by the middle of 2012.
Sany, Citic to pay $472mn for Germany's Putzmeister
Sany Heavy Industry Co, run by China’s richest man, and a partner is planning to pay 360 mn euros ($472 million) for concrete-pump maker Putzmeister Holding GmbH to add technology and expand overseas, according to reports. Reports stated that Chinese construction-equipment maker will buy 90% of Putzmeister for 324 million euros and Citic PE Advisors (Hong Kong) Ltd. will purchase the balance
TonenGeneral to buy Exxon's Japan unit for US$3.9bn
BMC to acquire Numara Software
Xstrata confirms merger talks with Glencore
The Gores Group to buy Pep Boys for $1bn
Korea's E-land in group to buy L.A. Dodgers
Misys confirms merger talks with Temenos
US Steel to sell US Steel Serbia