DRRDBV, subsidiary of Dr Reddy’s Laboratories, has entered into a pact to sell certain assets and liabilities of its Netherlands-based site. Dr Reddy’s Research and Development B V (DRRDBV) has entered into an asset purchase agreement with Delpharm Development Leiden BV, a part of France-based Delpharm Group, the drug firm said in a regulatory filing. The agreement includes sale of its certain assets and liabilities, including transfer of employees at the Leiden-based site in The Netherlands, it added.
Edelweiss Alternatives has entered into an agreement with Larsen & Toubroand Canadian Pension Plan Investment Board to pick up their 100 per cent stakes in L&T Infrastructure Development Projects at an enterprise value of ₹6,000 crore. The portfolio of the target company comprises eight roads and one power transmission asset, spanning 4,900 lane kilometres and 960 circuit kilometres, respectively.
Kirloskar Oil Engines Ltdhas joined hands with transport infrastructure consultancy and engineering firm RITES Ltd to explore business opportunities for the export of railway rolling stock, besides infrastructure and urban transport for both domestic and overseas markets, according to a company statement.
YES Bankhas concluded assignment of the ₹48,000-crore stressed asset loan portfolio of the bank to JC Flowers Asset Reconstruction company. The Bank had earlier declared JC Flowers Asset Reconstruction Private Limited (JC Flowers ARC) as the winner of the Swiss Challenge process for sale of its identified portfolio of stressed assets.
Jindal Steel and Power Limited (JSPL) will spend ₹7,930 crore under the PLI scheme for specialty steel to manufacture eight types of high-end alloy in the country, its Managing Director Bimlendra Jha said.
Drug majorSun Pharmahas received a warning letter from the US health regulator for its Halol facility which is already under an import alert. The warning letter summarises violations with respect to Current Good Manufacturing Practice (cGMP) regulations, the Mumbai-based company said in a regulatory filing.
Patel Engineeringhas approved raising funds worth up to ₹350 crore through a rights issue. The go-ahead was given during a meeting of the company’s board held on Friday.
UPL has announced the completion of investment of ₹2,474 crore by KKR for 13.33 per cent stake in Advanta Enterprises. This is a part of the larger corporate realignment exercise announced in October 2022 to create four distinct business platforms - Global Crop Protection (ex-India), India Agtech, Global Seeds and Manufacturing & Specialty Chemicals to unleash growth potential of each of these platforms and unlock value for UPL shareholders by facilitating ‘fair value recognition’ of each platform.
A consortium of three Indian partners - 3i Infotech Limited, Forensics Intelligence Surveillance and Security Technologies Private Limited (FISST) and Yellow Inc - have been awarded wi-fi monetisation project by RailTel Corporation of India Limited, with the Company being the lead bidder.
Pfaudler Inc, controlled by DBAG Fund VI, a private equity fund; DBAG, has sold 77,85,819 equity shares (17.32 per cent) of GMM Pfaudlerthrough bulk deals at ₹ 1700 a share. DBAG has been a financial investor in the company since 2014. Post the sale, Patel family has become the single largest Promoter shareholder in the company. Patel Family has entered into an arrangement to purchase 4,49,572 equity shares (1 per cent) from DBAG at ₹ 1,700 a share, subject to regulatory approvals, through an inter-se promoter transfer.
The board of SJ Corporation Ltd will be held on December 26 to invest in a partnership firm in order to carry out real estate project at Surat and consider any other matter with the permission of the Chair.
The Ministry of Environment, Forest and Climate Change, Government of India, has accorded final approval/stage - II approval under the Forest (Conservation) Act, 1980 for the diversion of 401.5761 hectare of forest land in Swamimalai Block Forest, Sandur Taluk, Ballari District, Karnataka for Iron Ore and Manganese Ore Mining in Devadari Hill Range in favour of KIOCL Ltd.
GMR Megawide Cebu Airport Corporation (GMCAC), a joint venture between GMR Airports International BV (GAIBV), a stepdown subsidiary of GMR Infrastructure, and Megawide Construction Corporation (MCC). Pursuant to the definitive agreements entered into by GAIBV, GMCAC and MCC with Aboitiz InfraCapital Inc (AIC), for AIC to acquire shares in GMCAC, upon completion of all customary approvals. GAIBV has received an amount of ₹1389.90 crore, against the sale of shares in GMCAC and the issuance of exchangeable notes to AIC, which notes as per the agreements are exchangeable against GAIBV’s balance equity in GMCAC on October 31, 2024.
Dilip Buildcon has received letter of acceptance for a new HAM project ‘4-Laning of Karimnagar Warangal section of NH-563’ in Telangana, from the National Highways Authority of India. The order is worth ₹1,647 crore.
Tech Mahindrahas approved sale of 100 per cent stake in wholly owned subsidiary Dynacommerce Holdings BV to step-down subsidiary Comviva Netherlands BV. The transaction cost is 6.6 million euros and expected date for transaction completion is first week of January 2023.
Phoenix Millshas completed acquisition of 7.22 acres land in Surat, Gujarat, for ₹510 crore. The land acquired through subsidiary Thoth Mall and Commercial Real Estate. Thoth will develop a premium retail destination with gross leasable area of approximately 1 million square feet and currently expects to complete the retail development by FY27.
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