JB Chemicals & Pharmaceuticals made headlines recently when it sold the over-the-counter business in Russia and the CIS (Commonwealth of Independent States) to Johnson & Johnson. Now, it has announced the sale of prescription part of the business to Dr Reddy’s Laboratories, another player with a significant presence in Russia.
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Chambal’s shipping biz demerger ratio fixed at 1:8, promoters hike stake
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The board of Chambal Fertilisers and Chemicals approved the demerger of its shipping business to a subsidiary India Steamship. In March 2011, the company had announced its intention to restructure the shipping business and has now formalised the structure.
Filed under: Companies, Shipping & Logistics, Top News, Chambal Fertilisers and Chemicals, demerger, M&A
Apollo to invest Rs 1575 crore in Welspun Group
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Private equity company Apollo Global Management LLC proposes to invest Rs 2,250 crore in the Welspun group’s steel business –pipes and related projects. The transaction will be carried out through multiple transactions by the PE firm which has about $70 billion or Rs 31,500 crore assets under management as of March 2011.
Filed under: Companies, Top News, Apollo Management, M&A, Private Equity, Steel pipes, Welspun
JB Chemicals to exit Russia-CIS market
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JB Chemicals & Pharmaceuticals Ltd plans to exit Russia and the CIS (Commonwealth of Independent States) markets, its largest overseas presence.
Filed under: Companies, Top News, Companies International, JB Chemicals, M&A, Pharmaceutical
3i Infotech sells Regulus and J&B Software to Cerebrus for $137mn
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3i Infotech has decided to sell its US-based transaction services business to private equity firm Cerebrus Capital Management L.P for $137 million or about Rs 620 crore. The company will sell its US billings and payments unit, consisting of Regulus Group and J&B Software to an affiliate of Cerebrus.
Filed under: Companies, Information Technology, Top News, 3i Infotech, Cerebrus, Companies International, M&A
Alstom Projects to lose boiler business to Alstom-Shanghai Electric JV
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Global restructuring by multinationals can often result in surprises for shareholders of their Indian subsidiaries of multinational corporations. Engineering company Alstom Projects India announced that its parent company Alstom is forming an equal joint venture with China’s Shanghai Electric Group, to be called Alstom-Shanghai Electric Boilers Co.
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Filed under: Companies, Top News, Alstom Projects India, Companies International, Joint Venture, M&A
United Phosphorus acquires 50% in Sipcam Isagro Brazil
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United Phosphorus, an agrochemical company with a turnover of over Rs 5,000 crore in 2009-10, said it is acquiring a 50% stake in Sipcam Isagro Brazil, a Brazilian agrochemical company. Sipcam is an equal joint venture between the Sipcam-Oxon group and Isagro.
Filed under: Chemicals, Companies, Top News, Companies International, M&A, United Phosphorus
Amrutanjan buys Siva’s Fruitnik fruit juice for Rs 26 cr
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Amrutanjan Health Care, a maker of ayurvedic over the counter medicines, has diversified into foods. It is buying out Siva’s Soft Drink Pvt Ltd, a Chennai-based company which sells fruit juices under the Fruitnik brand.
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Filed under: Companies, Quick News, Amrutanjan Health Care, Fruitnik, M&A
Reliance sells 30% stake in 23 oil & gas blocks to BP: what is the deal logic?
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Reliance Industries parted with a substantial stake in its oil & gas exploration and production business to BP, in return for cash and technology to develop this business. They will also set up a joint venture for sourcing and marketing gas in the country.
Filed under: Companies, Oil & Gas, Top News, BP, Companies International, Gas, M&A, Mukesh Ambani
Mahindra expands agri-business, acquires 38% in EPC Industrie
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Mahindra & Mahindra announced the acquisition of EPC Industrie, a listed company which sells micro-irrigation equipment to farmers and plastic pipes to industrial consumers.