The Ruias of the Essar Group will now be getting around $750 million (about Rs 3,493 crore) more from their telecom joint venture partner, Vodafone Group, over and above the fair market price if they exercise the "put" option for their 33.02 per cent stake.
Banga has hung up his Unilever boots and moved on to private equity firm Clayton Dubilier & Rice (CD&R) as an operating partner.
A new government has taken office in Australia, which has said it will review its predecessor's controversial proposal for a 40 per cent super-profit tax on mining revenues.
JV formed for Saudi infra projects, focus on contracts from other countries as well.
At least four global cement majors, Lafarge, CRH, Heidelberg Cement and Intalicementi, are in the race to buy a little-known cement company in Maharashtra Murli Industries with a total capacity of 2.9 million tonnes.
Reliance Industries' annual general meeting on Friday will be unique in many ways. It's the first AGM after the Supreme Court judgment on K-G gas, the first after the truce between Mukesh and Anil Ambani and the first after the company's big-bang return to telecom.
RIL, RCom working on partnership blueprint.
Infrastructure conglomerate Lanco Group and leading financial services firm Edelweiss Capital have emerged frontrunners in the race for Axis Bank's private equity arm. According to two people familiar with the developments, Lanco and Edelweiss have made the most aggressive financial bids among all the non-binding ones that have come in so far. The bids, they said, were in the range of Rs 30-45 crore.
Three years after exiting the power business, the Rs 1.4-lakh crore Aditya Birla Group is planning a powerful comeback into the sector and is eyeing a major acquisition in Tamil Nadu, two people with direct knowledge of the deal told Business Standard.
Within 24 hours of the brothers Ambani deciding on a ceasefire, the stock market and Reliance pundits are out with their calculators to figure out the financial implication of ending the non-compete terms five years in advance and the loss that Anil Ambani's Reliance Natural Resources Limited would incur post the Supreme Court verdict.
Nasscom president Som Mittal shares his view on issues such as the rise in value of the rupee against the dollar, hiring trends and the role of IT in e-governance.
Most IT companies today have multiple delivery centres, physically verifying documents is arduous and difficult to determine where the actual billing is done
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