Proposed USD1bn JV between ArcelorMittal and SAIL will be finalised by Dec top and corporate news of the day

India Infoline News Service | Mumbai | September 22, 201608:31 IST

Check out the most important news stories which captured the headlines at the corporate level in India and internationally.

IRB Infrastructure Developers Ltd has emerged as a preferred bidder for six-laning of the Kishangarh-Udaipur-Ahmedabad section of NH-79 in Rajasthan. (BL)
HSIL Ltd has launched its moonbow range of water purifiers in five variants. (BL)
Prestige Estates Projects plans to raise at least USD300mn, around Rs20bn, by selling up to 40% stake in its rent-yielding commercial assets and has drawn interest from Canadian Pension Plan and GIC of Singapore. The southern developer has hired JP Morgan to advise on the deal involving a string of shopping malls and office spaces valued at about Rs50bn, or USD750mn. (ET)
Essel Propack Ltd announced 75.1% stake in Essel Deutschland Germany (EDG) at an enterprise value of USD32mn (Rs2.14bn). (BS)
The Cabinet Committee on Economic Affairs has approved a viability gap funding/partial capital grant of INR51.76bn for GAIL (India) Ltd’s 2,539-km long Jagdishpur-Haldia and Bokaro-Dhamra (JHBDPL) natural gas pipeline. (BL)
The promoters of NHC Foods are in talks to sell their stake to the firm's Malaysian partner MAP Enterprises. (BS)
The proposed USD1bn JV between ArcelorMittal and SAIL will be finalised by Dec. (ET)
Nestle India moved Supreme Court seeking its nod to destroy about 550t of recalled stock of Maggi Noodles which have passed shelf life, saying its storage may lead to health hazard at the 39 locations where it is stored across the country. (BS)
Reliance Defence & Engineering (RDEL) has emerged as the lowest bidder for building 14 fast-patrol vessels for Indian Coast Guard valued at Rs9.20bn. Goa Shipyard Limited was the L2 bidder while L&T L3 bidder. The vessels will be designed in-house and built by the company at its Pipavav Shipyard. (BS) 



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