Japanese healthcare media giant M3 has acquired a stake in Health Impetus Private Limited - which offers disease management services - from its existing shareholder, Health Care at Home India Private Limited, and by subscribing to equity shares in the target for an undisclosed amount.

"Tata Chemicals Ltd has agreed to sell its urea plant in Babrala, Uttar Pradesh, to the Indian unit of Norway-based Yara International ASA for Rs 2,670 crore, as it seeks to position itself as a maker of consumer products rather than fertilizers,” reported Mint and others.

"Credit rating firm ICRA Ltd said on Friday it has struck a deal to sell its software development arm, ICRA Techno Analytics Ltd, to IT firm Nihilent Technologies Ltd for Rs 68.75 crore ($10.3 million),” reported VCCircle.

HDFC Standard Life Insurance, a joint venture between HDFC and Standard Life, will be absorbing Max Life Insurance and Max Financial Services, according to reports, in what is billed as the biggest ever consolidation in the private insurance space in India.

Aditya Birla cement competition mandate goes to AZBAditya Birla cement competition mandate goes to AZBAZB & Partners recent lateral partner Nisha Kaur Uberoi has on 8 August obtained phase 1 merger clearance from the Competition Commission of India (CCI) for Ultratech Cement’s Rs 16,189 crore ($2.4bn) acquisition of the cement assets of the Jaypee Group.

CX Partners (a PE firm focused on the Indian mid-market) and Capital Square Partners sold for $420m its stake in Minacs to Concentrix Global Holdings Inc., a subsidiary of Synnex Corporation, as reported by the Economic Times as one of the largest in the business process outsourcing (BPO) sector, and Concentrix’ second largest deal.

"Shanghai Fosun Pharmaceutical (Group) Co. Ltd, the Hong Kong-listed company controlled by billionaire Guo Guangchang, will acquire India’s Gland Pharma Ltd for $1.3 billion (Rs 8,700 crore), the company announced on Thursday. According to the agreement, Fosun will acquire an approximate 86% stake in Gland, including the 36% stake held by existing private equity firm KKR & Co,” reported Mint.

"State Bank of India (SBI) has kick-started the formal process of merging associate banks and Bharatiya Mahila Bank, which would create a banking entity with total assets worth about Rs 29 lakh crore. The bank has appointed merchant bankers, valuation consultants and law firms to complete the process,” reported The Economic Times.

"Flipkart Ltd has acquired Jabong through its unit Myntra in a cut-price deal that values the online fashion store at $70 million, moving to preserve its position as India’s No.1 e-commerce marketplace in the face of an onslaught by Amazon India,” reported Mint.

"With non performing assets-saddled banks trying to raise money from sale of non-core assets, global credit information company TransUnion has raised its stake in its Indian subsidiary Cibil to 77.1% by buying out ICICI Bank and Bank of Baroda’s holding in it.” reported Mint.

“Sajjan Jindal-controlled JSW Energy has agreed to acquire a 500 MW thermal power plant located in Madhya Pradesh from Jaiprakash Power Ventures for an enterprise value of ₹2,700 crore in an all-cash deal.” (Hindu Businessline)

"Canadian billionaire Prem Watsa’s Fairfax India Holdings Corp. ... said it had agreed to acquire a 51% stake in Privi Organics Ltd for about Rs 370 crore. Privi Organics is a supplier of aroma chemicals to many large fragrance and consumer goods companies globally.” reported Mint.

Pursuant to the liberalisation of foreign investment in the insurance sector, Prism Cement sold 23% out of its 74% stake in Raheja QBE General Insurance Company to an affiliate of QBE Asia Pacific Holdings for Rs 110 crore (AUD 21.5m).

Shearman & Sterling, DLA Piper, White & Case and Allen & Overy had the largest number of recorded Indian M&A deals in the first six months of 2016, according to data intelligence provider mergermarket, each with five or four transactions.

Cyril Amarchand Mangaldas has topped the list of 13 domestic law firms’ M&A mandates by value of deals done with $6.2bn worth of transactions, followed by AZB & Partners and Vaish Associates, with stronger performances across the board than at the same time last year.

Nirma will buy Lafarge India’s assets for $1.4bn from LafargeHolcim according to reports, with several law firms getting a slice of the action including Ashwath Rau’s old and new firm.

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