Minda Corporation acquires Panalfa Autoelektrik
Minda Corporation announced that it has acquired 100% equity of Panalfa Autoelektrik Limited. PAL, founded in 2007, is a part of the Panalfa Group, a major original equipment manufacturer of automotive systems and components in India.Read more
Mergers & Consolidation of PSU Banks, still some time away
Fourth quarter results of PSU Banks will be declared soon. There is a growing fear that banks will once again disappoint with increase in bad assets. But this time around, this disappointment will not be surprising, as almost everyone believes that results will be horrible.
With small and weak PSU banks facing existential crisis, there is a growing consensus to have lesser number of strong banks instead of larger number of weak ones. The idea is to merge weaker banks with stronger ones. This concept seems good in theory but is questionable on mathematical terms. Merging weaker banks with stronger ones means that mathematically, the resultant entity (erstwhile stronger banks) will become somewhat weaker than what they earlier were. Read more
Godrej Consumer Products acquires Strength of Nature
Godrej Consumer Products Ltd announced that it has entered into an agreement to acquire Strength of Nature LLC (SON), a leading company of hair care products for women of African descent. This acquisition is a further step to accelerate GCPL’s global 3 by 3 strategy and scale up its presence in Africa by being at the forefront of serving the hair care needs of women of African descent. The acquisition is expected to be EPS accretive for GCPL from year one itself.
CarDekho acquires roadside assistance firm Help On Wheels
Jaipur-headquartered Girnar Software Pvt. Ltd, which owns and runs online auto classifieds portal CarDekho, has announced the acquisition of roadside assistance firm Help On Wheels for an undisclosed amount. Reports suggest that this was an all cash deal. As part of the acquisition, the entire team at Help On Wheels will be integrated into the larger company.
This news comes just two weeks after Girnar Software raised an undisclosed amount of funding from Google Capital. This funding is believed to have valued the eight year-old company at about $400 million.Read more
Pfizer terminates US$ 160 bn merger with Allergan
Pfizer Inc. today announced that the merger agreement between Pfizer and Allergan plc has been terminated by mutual agreement of the companies. The decision was driven by the actions announced by the US Department of Treasury on April 4, 2016, which the companies concluded qualified as an “Adverse Tax Law Change” under the merger agreement.Read more
Orahi acquires 13-year-old Akshat Mittal 's Odd-even.com
The prodigy behind odd-even.com, Akshat Mittal, a class 9 student of the Amity International School in Delhi has sold his company to Gurgaon-based carpooling app Orahi for an undisclosed amount. However reports suggest that this was an all-cash deal.
Odd-even.com was developed in December 2015 by the 13-year old Akshat in order to combat the odd-even vehicle rule implemented by the Delhi government to control pollution in NCR. The website matches individuals to potential ride-share or carpool in the direction of their commute.