In a landmark decision, India’s bankruptcy appeals court ruled that the insolvency resolution process should aim to extract the maximum value from auctions of stressed assets as it approved UltraTech Cement Ltd’s revised ₹ 7,900 crore bid to acquire debt-laden Binani Cement Ltd. — Mint L&L Part...

Radiant Life Care Private Limited, backed by global investment firm KKR has entered into a transaction whereby its shareholders it will acquire a majority stake in Max Healthcare Institute Limited from Max India Limited. The acquisition will be undertaken through a series of transactions, including ...

Lenders have voted to take an offer from Royale Partners, a Dubai-based fund, for EPC Constructions India Ltd (earlier known as Essar Projects India Ltd), which was sent to the National Company Law Tribunal (NCLT) for debt resolution. A conditional offer by ArcelorMittal was rejected. — Business Sta...

Fortis Healthcare … said it has completed the acquisition of RHT Health Trust (RHT) assets. In February last year, Fortis had announced that it has entered into definitive agreements with RHT to acquire entire portfolio of assets of the Singapore-listed entity for an enterprise value of Rs 4,650 cro...

National Company Law Tribunal (NCLT), New Delhi has approved the resolution plan submitted by JSW Steel as approved by the Committee of Creditors of Vardhman Industries Limited (VIL), which has been undergoing Corporate Insolvency Resolution Process under the Insolvency and Bankruptcy Code, 2016, ac...

As a part of its restructuring exercise, Apollo Hospitals Enterprise on Wednesday said that it is divesting its front-end pharmacy business to Apollo Pharmacy for a lump sum cash consideration of Rs 527.8 crores. Apollo Pharmacy (APL) will be a wholly owned subsidiary of Apollo Medicals. The listed ...

Pfizer Inc and GlaxoSmithKline plc today announced they have entered into an agreement to create a premier global consumer healthcare company with robust iconic brands. The Boards of Directors of both companies have unanimously approved the transaction under which Pfizer will contribute its consumer...

US-based Emerson, a global leader in automation for process and industrial customers, has completed the purchase of Intelligent Platforms from General Electric. The addition of Intelligent Platforms programmable logic controller (PLC) technologies will enable Emerson to expand its capabilities in ma...

IIFL Holdings Ltd on Monday said its lending business, India Infoline Finance Ltd, has agreed to sell its commercial vehicle (CV) financing unit to IndoStar Capital Finance Ltd, a lender promoted by private equity fund Everstone Group. — Mint L&L Partners advised IndoStar Capital Finance Limite...

Hitachi to Buy ABB’s Power Grids Business: Hitachi Ltd.’s takeover of ABB Ltd.’s power grid division for about $6.4 billion would be the Japanese conglomerate’s biggest-ever deal as it shifts focus from nuclear plants to the higher-growth market for electricity networks. — Bloombergquint L&L Pa...

Laser and optical components maker II-VI said on Friday it would buy Apple supplier Finisar for about $3.2 billion, to expand in consumer electronics and fast-growing sectors such as autonomous vehicles. — Cnbc L&L Partners advised II-VI Incorporated led by a team of senior partner Mohit Saraf ...

CIE Automotive SA is in talks to acquire the roof systems business of U.S. car-parts and equipment maker Inteva Products LLC in what could be its largest acquisition ever, according to people familiar with the matter. — Bloombergquint L&L Partners advised Inteva Products, LLC (Inteva) led by a ...

Ribbon Communications Inc. (Nasdaq: RBBN), a global software leader in secure and intelligent cloud communications, today announced that it has agreed to purchase the business and technology assets of Anova Data, Inc., a leading provider of advanced analytics solutions. Anova Data is based in the U....

Continental Warehousing Corporation (Nhava Seva) Ltd., (CWCNSL), a 90%-owned subsidiary of Hindustan Infralog Pvt. Ltd. (HIPL), has acquired 76% stake in Kribhco Infrastructure Ltd. (KRIL), an integrated multi-modal logistics operator for an unspecified amount. Hindustan Infralog is a joint venture ...

Reliance Capital (Rcap) Thursday said it will exit the mutual funds business by selling its stake in Reliance Nippon Life Asset Management Ltd (RNAM) to its joint venture partner Japan’s Nippon Life Insurance. Both partners hold 42.88 per cent each in the company, while the rest is with public share...

The Ahmedabad bench of the National Company Law Tribunal has approved the Rs 42,000-crore resolution plan submitted by ArcelorMittal for the debt-ridden Essar Steel Ltd. The tribunal’s approval for the mega deal has come 583 days after it started the insolvency proceedings, instead of the mandated 2...

IIFL Holdings’ wealth management arm has raised Rs 745.71 crore by selling 5.1 per cent stake to a clutch of investors. IIFL Wealth Management issued 44.90 lakh shares to WF Asian Reconnaissance Fund, Rimco (Mauritius) Limited, Amansa Holdings, General Atlantic Singapore Fund, Steadview and HDFC Sta...

L&L Partners advised Symbiotec Pharma Lab Pvt Limited led by a team of partner William Vivian John along with managing associate Deepak Kumar and associate Tanaya Sanyal.

Constellation Alpha Capital Corp., a Nasdaq-listed special purpose acquisition company focused on consolidating the healthcare services sector in India, on Friday said that it has signed an agreement to acquire Medall Healthcare Pvt. Ltd, a diagnostic chain based in South India. — Mint L&L Part...

Debt-ridden Amtek Auto today said it has signed a share purchase agreement with Nippon Steel and Sumitomo Metal Corporation to sell its stake in its joint venture (JV) company SMI Amtek Crankshaft. — The Times of India L&L Partners advised Nippon Steel Corporation led by a team of partners Mohi...