The Hindu Business Line : Thursday, September 11, 2008

CORPORATE

MERGERS & ACQUISITIONS: Diageo, 2 others keen to take stake in United Spirits
UB, Heineken in discussions to resolve Asia-Pacific Brewery issue. Bangalore, Sept. 10 The world’s largest liquor company Diageo, which makes Smirnoff vodka and Johnnie Walker whisky, and two other companies have expressed their ...

NEW PROJECTS: Mittal projects face 50% cost overruns
Land acquisition, mining lease major hurdles. New Delhi, Sept 10 Arcelor Mittal, the largest steel manufacturer in the world, is anticipating a major cost overrun to the tune of around 50 per cent in its investments in Orissa and Jharkhand due ...

ANNOUNCEMENTS: Some steel cos cut prices by Rs 2,000
Mumbai, Sept. 10 Primary steel makers appear to be under pressure from softening global prices. On Wednesday, JSW Steel and Ispat Industries said they have cut prices by about Rs 2,000 a tonne with effect from September 1. ...

OUTLOOK: GE eyes acquisitions in India
Especially in infrastructure, healthcare, media space. New Delhi, Sept. 10 General Electric Co (GE) is scouting for acquisitions to scale up its presence in India. The diversified engineering and services major is looking across a gamut of ...

COURTS/LEGAL ISSUES: 4 key bidders qualify for 12 NHAI projects
‘Financial bids must be invited from 5-6 bidders only’. New Delhi, Sept 10 Four key bidders may end up competing for most of the 12 highway projects of National Highways Authority of India (NHAI), which were processed during the ...

RESEARCH & DEVELOPMENT: Vestas opens R&D centre in Chennai, its 2nd largest
To support global engineering R&D activities across value chain. Chennai, Sept. 10 Vestas, a leading wind turbine manufacturer, inaugurated its research and development centre here on Wednesday, a centre that will be the second largest of ...

MERGERS & ACQUISITIONS: Negotiations and due diligence are taking longer than usual
What is the outlook for cross-border deals in the coming 12-15 months? "There is likely to be a decline in cross-border deals," feels Mr Ranjan Biswas, National Director, Transaction Advisory Services, Ernst & Young. "Outbound deals (Indian firms

INFORMATION TECHNOLOGY: Board meetings — physical and virtual
The Companies Bill, 2008 that is slated to replace the Companies Act, 1956 that has become a patchwork of amendments breaks several new grounds one of which is to enable companies to conduct their board meetings through video conferencing (VC). ...

OUTLOOK: Nuclear deal will open up biz opportunities: Ratan Tata
‘Highest generation achieved in Trombay and Jojobera units’. Mumbai, Sept. 10 The civilian nuclear deal will provide a great opportunity for Tata Power and Tata Consultant Engineers Ltd, said Mr Ratan Tata, Chairman of Tata Group, ...

OVERSEAS INVESTMENTS: Gammon buys 50% stake in Italian co Sofinter
Mumbai/Chennai, Sept 10 Engineering and construction company Gammon India will now look to build power plants following its acquisition of a 50 per cent stake in an Italian company that is the holding company of leading boiler manufacturer ...

OVERSEAS INVESTMENTS: Reliance sets up overseas units
Reliance Industries Ltd on Tuesday announced the incorporation of two wholly owned subsidiaries for London and Singapore markets to tap the emerging opportunities in global markets of petroleum products, a company release said. Reliance Global ...

OUTLOOK: Hyundai studying the option of i10 exports to the US
New Delhi, Sept. 10 Hyundai Motor India said that it was pursuing a feasibility study to start its exports of its premium compact car i10 to the US. ...

NEW PROJECTS: Singur: Differences over amount of land to be returned to ‘unwilling’ farmers
Kolkata, Sept. 10 The impasse over land acquisition in Singur for the Tata small car project is far from resolved, with the West Bengal Government and the Trinamool Congress continuing to be at variance over the amount of land that can be ...

NEW PROJECTS: BPCL-Kochi Refinery to set up ‘bottoms upgradation project’
Product of refinery can fuel other industries. Kochi, Sept. 10 BPCL-Kochi Refinery is planning to set up refinery bottoms upgrading facilities on its premises to facilitate upgradation of heavy fuel oils to value-added products such as LPG, ...

COURTS/LEGAL ISSUES: Web site of company liquidators launched
New Delhi, Sept. 10 To bring greater efficiency in the functioning of the official liquidators (OLs), the Ministry of Corporate Affairs has launched a new Web site named
OUTLOOK: ‘Raw material security essential for steel industry’
New Delhi, Sept 10 The steel industry is faced with the dual challenge of rising input costs and keeping product prices under control in the national interest of keeping inflation under check. In this situation, it is imperative that the ...

NEW PROJECTS: Maithan Alloys to set up Rs 275-cr ferro-alloys unit
Maithan Alloys Ltd, India’s leading manufacturer and exporter of manganese alloys, on Wednesday announced plans to set up a 72 MVA ferro alloys unit in Visakhapatnam, Andhra Pradesh, with an installed capacity of 1.2 lakh tonnes per ...

NEW BUSINESS: L&T bags $160-m order
Mumbai, Sept 10 Larsen & Toubro said on Wednesday it has bagged its largest ever order from South America. The heavy engineering division of the company has won a $160-million (over Rs 700 crore) order for manufacture and supply of 10 ...

MERGERS & ACQUISITIONS: Gammon strengthens its power portfolio
Forward integration to help it in bid for power projects. With the latest acquisition of a 50 per cent stake in Italy-based Sofinter, Gammon India would complete its technology gap in the power space and qualify itself to bid for equipment and ...

MERGERS & ACQUISITIONS: Siemens Healthcare acquisition
Siemens Healthcare Diagnostics Ltd will be paying a final purchase price of Rs 45.10 crore for the acquisition of the Delhi-based Dade Behring Diagnostics India Pvt Ltd. The company had earlier agreed to make the acquisition for Rs 43 crore based ...

DIVIDEND ANNOUNCEMENT: UB to pay 15% interim dividend
United Breweries Ltd has informed the National Stock Exchange that at the meeting of the board of directors of the company held on Wednesday, the directors have declared payment of interim dividend on equity shares (of Re 1) at the rate of 15 ...