Tata Steel had made an offer to buy out UK-based Corus at 455 pence per share taking the enterprise value of the company to $10 billion.
Deutsche Bank in India has managed to avoid the bad-loan problems plaguing its rivals such as Standard Chartered Plc.
Though the NDA government had been trying to privatise 20 companies, a decision for which was taken in 2017, and included national carrier Air India, the investor community evinced little enthusiasm for any of them. Now, with an in-principle approval for privatisation of BPCL, CCI and SCI, the government has taken the plunge again.
Likely to seek FIPB approval to raise holding; deal could bring FDI of about $696 mn.
The letter was written on February 20, two weeks after the Cabinet Committee of Economic Affairs had approved the 100 per cent ownership proposal of Vodafone Plc in Vodafone India, at a proposed investment of Rs 10,141 crore (Rs 101.41 billion).
The chief operating officer of HSBC Holdings, A W Jebson informed that HSBC board would meet in Mumbai on November 25.
The company had assets in countries like Yemen, Peru, Oman, Myanmar, Columbia, East Timor, Kurdistan and Australia, but it exited almost all these blocks later as part of its portfolio rationalisation
While it was technically not possible to block the deal, the tax department could resort to arm-twisting.
British oil major BP Plc on Thursday signed an agreement with state-run Hindustan Petroleum Corp Ltd to negotiate a stake in HPCL's Rs 12,000 crore (Rs 120 billion) Bhatinda refinery in Punjab.
With clients increasingly looking at cost optimisation by passing on the risks to the IT vendors and IT services players demanding longer tenure deals to hedge their risks, a mix of these two factors are giving rise to large deals coming up in the market with a lot of strings attached.
Observers say the transfer could be worth around 25 million pounds.
British energy firm Cairn Energy Plc plans extensive exploration over the next 18 months its Rajasthan block, the site of India's largest oil discovery in almost two decades.
Housing Development Finance Corporation Ltd has sold its 50 per cent stake in Intelenet Global Services Ltd, a business process outsourcing company, to Barclays Bank Plc for Rs 164 crore (Rs 1.64 billion).
British biodiesel firm D1 Oils Plc is entering into joint venture agreement with Chennai-based Mohan Breweries and Distilleries Ltd to produce biodiesel derived from Jatropha.
The US market for the drug is pegged at $1 billion. Cipla has been selling the product in the European market. It had won a similar case in the UK against GSK a couple of years ago.
India's tax authorities began investigating Cadbury in 2011.
Shares of Corus Group Plc, surged by 1.12 per cent in trading on Friday on reports that Tata Steel may revise its takeover offer, but stocks of the Indian company fell 1.67 per cent on the bourses.
Tata Technologies Ltd is all set to acquire a UK-based INCAT International Plc.
World's sixth largest insurer Aviva Plc on Thursday said it would look for more acquisitions in Asia and continue to focus on countries like India, China, Hong Kong and Singapore for achieving faster business growth.
He will replace Add Jacobs, who will retire after less than one year in the post at Shell.\n
Here's the full text of the statement
Banks are seeking an order that Mallya should appear in person before the court.
The brand image, however, may not tarish further as it will have already taken the beating due to consistent injury
Finance Minister Arun Jaitley, in his Budget speech on Monday, announced a new dispute resolution mechanism for such companies who are in confrontation with the taxman's action.
After investing $150 million this year, HSBC is willing to step up investments in India as it expects the economy to sustain over 7 per cent growth in the coming years.
Vodafone in India provides 2G and 3G services
This is the single largest foreign investment in India so far.
In a bid to tap the growing potential of mutual fund business in the country, ICICI Bank has decided to raise its stake in Prudential ICICI Asset Management Company to 51 per cent, by buying out six per cent stake from Prudential Plc.
Eyeing India as one of its fastest growing markets, world's fifth largest insurer Aviva Plc wants to infuse more capital in its Indian venture when FDI limit is raised and plans to hire 3,000 more people by 2006
