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Deals Buzz: Tata Steel looking at inorganic expansion, says N Chandrasekaran

LiveMint logoLiveMint 09-08-2017 Kavya Kothiyal

Mumbai: Mint brings to you your daily dose of top deals reported by newsrooms across the country.

Tata steel looking at acquisition, open to buying stressed assets

Tata Steel Ltd is actively looking at inorganic expansion as part of its growth strategy while it aims to ramp up capacity in India, chairman N. Chandrasekaran told the firm’s shareholders at its annual general meeting on Tuesday. At the same time, he warned that the short- to medium-term focus would be on paring debt, reports Mint. Read more

Bajaj Auto and Royal Enfield announces global partnership

India’s Bajaj Auto Ltd and the UK’s Triumph Motorcycles Ltd on Tuesday announced a global partnership to make deeper inroads into the so-called middleweight (engine capacities of between 250cc and 600cc) motorcycle market in India, and the world, reports Mint. Analysts say the partnership will help Bajaj compete with Eicher Motors Ltd’s Royal Enfield motorcycles that are popular in India and becoming popular in other parts of the world. Read more

Crompton Greaves offers Rs1,440 crore to Videocon for Kenstar

Crompton Greaves Consumer Electricals Ltd has offered to pay around Rs1,440 crore to buy home appliances brand Kenstar from Videocon group, reports Mint, citing two people directly aware of the talks. Kenstar was put on the block earlier this year by Videocon group to pare its debt which currently stands close to Rs40,000 crore. Read more

Agri tech start-up EM3 raises $10 million

EM3 Agri Services, which offers farm services and machinery on rent, has raised $10 million from London-based non-profit Global Innovation Fund, top executives at the agricultural technology start-up said, reports Mint. EM3 Agri operates under the brand name Samadhan in Madhya Pradesh and parts of Gujarat. Read more

CX Partners in talks to buy majority stake in Comstar

Private equity firm CX Partners is in advanced talks to acquire a majority stake in Chennai-based auto component maker Comstar Automotive Technologies Pvt. Ltd for about Rs400-450 crore, reports Mint, citing two people with direct knowledge of the discussions. CX Partners has mandated Kotak Mahindra Capital Co. Ltd to advise on the sale process. Read more

Smaaash Entertainment buys PVR venture bluO

PVR Ltd, India’s biggest movie exhibitor, and Major Cineplex Group have agreed to sell their bowling joint venture bluO entertainment to Smaaash Entertainment Pvt. Ltd for Rs86 crore in an all-cash deal, reports Mint. The sale is part of PVR’s strategy to sell non-core assets and focus on its main cinema exhibition business. Read more

KCT Group to sell off renewable energy assets

KCT Group, the Vikram Thapar-led arm of the business house founded by Karam Chand Thapar, is exploring the sale of its renewable energy assets of 103 megawatts (MW), reports Mint, citing two people aware of the development. Investment bank Kotak Mahindra Capital has been appointed to help find financial and strategic investors who would be interested in acquiring the assets. Read more

Netflix buys comic publisher Millarworld

Netflix Inc. said it has bought comics publisher Millarworld, bringing on board renowned comic book writer Mark Millar and a host of character franchises it can mine for TV shows and movies. It is the first acquisition by Netflix, the streaming video pioneer that is building a library of original series and films in a bid to hook new customers around the world. Read more

Bharti Airtel sells 3.65% stake in tower unit, raising Rs2,570 crore

Bharti Airtel has raised Rs2,570 crore by selling 3.65% stake in its tower unit to a clutch of global investors, including Fidelity International, a move that would help the top mobile operator pare its debt and stay aggressive in a price war triggered by Reliance Jio, reports Economic Times. Read more

Idea Cellular seeks NCLT nod for merger with Vodafone

Idea Cellular has approached the National Company Law Tribunal (NCLT) in Ahmedabad, seeking its approval for the mobile company’s merger with Vodafone India and Vodafone Mobile Services, reports Economic Times. The $23 billion merger, if completed, would create India’s largest telecom firm that would be better placed to take on the threat posed by Reliance Jio Infocomm. Read more

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