Hostile takeover bids are rare in India but its entrepreneurs are not loath to fight a pitched battle in international markets. The Tata group’s acquisition of a 10% stake in Orient-Express Hotels through Indian Hotels seems to be more than just an investment.
Companies
Reliance Industries buys out the Gapco group in East Africa
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Reliance Industries acquired the petroleum marketing operations of Gapco (Gulf Africa Petroleum Corporation). The acquisition has been done through a subsidiary and Reliance has not disclosed the consideration for the deal. Gapco owns a distribution network including retail outlets in countries like Tanzania, Uganda and Kenya. The company imports fuel and then supplies it to various consumers. Reliance would obviously seek to export its own fuel products through Gapco, boosting its retail margins. Continue Reading →