On November 9, 2012 Diageo had announced buying a 53.4 per cent stake in USL for Rs 11,166.5 crore (Rs 111.66 billion) in a multi-structured deal.
The next step will be the 10 per cent preferential allotment, which the UB Group promoters will be making in favour of Diageo.
Cairn faces a potential tax demand on an alleged Rs 24,500 crore of capital gains it made when in 2006-07 it transfered all its India assets to a new company, Cairn India.
Its obsession for growth, chasing corporate clients and giving up its original mandate of meeting the needs of local trade and businesses. A quarter of its loan book has gone bad. That's an error of business strategy, points out Tamal Bandyopadhyay.
In order to determine whether this would be sound strategy for them, one needs to look at two issues: One, on the alliances being built globally between telcos, on one hand, and cloud service firms, on the other, especially with the advent of 5G; and two, how their business strategies in India will blend into with such a deal.
HSBC admitted to a breakdown of controls and apologised in a statement announcing it had reached a deferred-prosecution agreement with the US Department of Justice, as was first reported by Reuters last week.
Reliance Industries on Friday announced the sale of 2.32 per cent stake in its digital unit to US-based Vista Equity Partners for Rs 11,367 crore, the third deal in a little over two weeks that will inject a combined Rs 60,596.37 crore in the oil-to-telecom conglomerate to help it pare debt. The US-based private equity firm will buy a stake in Jio Platforms, which houses the country's youngest but biggest telecom firm Jio, at an equity value of Rs 4.91 crore and an enterprise value of Rs 5.16 crore.
Deal will help the Diageo to ramp up its presence in the global whiskey market and Vijay Mallya to repay debts of its group company Kingfisher Airlines.
The foreign investment regulator cleared a decision on Vodafone Group Plc's $1.6 billion plan to take full ownership of its local unit.
Sources say Diageo is pushing for a management control of United Spirits; and this has led Mallya to rethink on the offer.
Net profit in 2012 was $72.6 million, compared with $4.56 billion profit in 2011, Cairn said in a statement.
As part of the deal for purchase of 53.4 per cent stake in Vijay Mallya-led UB group's United Spirits Ltd, Diageo has made a Rs 5,441 crore open offer for purchase of 26 per cent stake in the company from non-promoter shareholders.
FDA had cancelled Ranbaxy's approvals to launch generic Nexium, Valcyte
Vodafone Group Plc won the Indian cabinet's approval for its $1.6 billion deal to buy out minority partners in its unit in the country, Information and Broadcasting Minister Manish Tewari said on Thursday.
The 'in-principle' settlement of $3 billion is covered by existing provisions. GSK expects to make payments under a final agreement next year.
RIL had in 2006 proposed to invest $2.234 billion in developing the Dhirubhai-26 or MA discovery, the only oil find in the KG-DWN-98/3 (KG-D6) block in Krishna Godavari basin off the east coast.
The British telecom major on Tuesday moved the dispute resolution panel, seeking relief from an order sent by the I-T department in December.
Market regulator Sebi has sought additional details from global liquor giant Diageo with regard to its Rs 5,441 crore (Rs 54.41 billion) open offer for acquiring 26 per cent stake in UB Group firm United Spirits Ltd.
The ED had filed the first chargesheet in the case against Chidambaram's son Karti; later, a supplementary chargesheet was also filed against him.
RIL and its British partner BP Plc had proposed undertaking concept validation and Front End Engineering Design for all the 16 gas discoveries surrounding the currently producing Dhirubhai-1 and 3 fields in the 7,645 sq km KG-DWN-98/3 or KG-D6 block.
The world's largest mobile operator by revenue has begun the year on a bold note, backing the initial public offer plans of its Indian unit and sources say the ball has already been set rolling.
The scheme offers waiver of interest, penalty, and prosecution for settling tax disputes.
The offer price remains the same at Rs 1,440 per share.
Vodafone Plc and its ex-shareholders have suffered due to the delay in an Initial Public Offer (IPO) of its Indian unit.
Globally, the focus has moved back to India, especially in terms of telecom assets. Vodafone Idea, with some 300 million customers, continues to be attractive with shares available at a low price.
Albanese, 56, will take the helm on April 1.
There would be 'no surge in energy demand as India industrialises.
Over the past year, McLeod sold 21 gardens in India, reducing almost 32 million kg in production.
Due to poor hydrocarbon prospects, BP surrendered nine out of the 21 oil and gas blocks where it had bought 30 per cent stake from Reliance Industries for $7.2 billion
The ministry had previously wanted to disallow $1.235 billion expenditure that RIL had incurred on putting production facilities at the Bay of Bengal gas fields but in the 7-page notice it sent to the company on May 2, the cost to be disallowed was put at $1.462 billion, sources privy to the development said.
Vijay Mallya on Wednesday gave a proposal to the Supreme Court to repay around Rs 4,000 crore (Rs 40 billion) loan to banks by September this year.
The UK's largest retailer, with revenues of 67 billion pounds, is currently focusing on its existing franchise agreement with the Tata-run Trent.
IBM, Nokia Oyj, Microsoft cases could now be resolved
Price growth of high value homes has been highest in emerging markets like Singapore, where prices have increased 144 per cent since 2005 and Mumbai, where prices have jumped 138 per cent in the same period.
Vodafone Plc's trusted ally, Analjit Singh of Max India, has been appointed non-executive chairman of its India operations. He talks about the backdrop of the two recent Supreme Court verdicts.
As on March 31, 2019, while the promoter group's stake, including individual promoter shareholders as well as group investment firms, stood at 42.71 per cent, it fell to 38.39 per cent on Tuesday.
Withdraws petition from green tribunal, makes fresh plea for Lanjigarh project.
Experts say local demand, government policies in retail and refining sector are attracting foreign players.
'Employees may well be expected to be on call at almost all times -- much like the standard Indian approach to the workday,' points out Mihir S Sharma.
The latest deal would give Facebook deeper access to India, the second largest internet market after China.
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