Corporate M&A

“Engineering company Greaves Cotton Ltd said on Wednesday it has signed definitive agreements to acquire a majority stake in electric two-wheeler maker Ampere Vehicles Pvt. Ltd. Mumbai-headquartered Greaves Cotton will initially acquire 67% of Coimbatore-based Ampere for Rs 77 crore. It may buy another 13% for Rs 75.5 crore after three years, it said in a stock-exchange filing.” reported VCCircle.

“Wipro has won its largest information technology (IT) outsourcing contract, valued at $1.6bn over 10 years from Alight Solutions, the former benefits administration and human-resources outsourcing business of Aon,” reported Mint.

“Hindustan Unilever Ltd (HUL) on Monday said it has agreed to buy ‘Adityaa Milk’ ice cream brand from Karnataka-based Vijaykant Dairy and Food Products Ltd for an undisclosed amount aiming a larger slice of the fragmented ice cream market in India. HUL, which already sells ice creams under the Kwality Wall’s, Magnum and Cornetto brands, has signed an agreement with Vijaykant Dairy to buy ice cream and frozen dessert business of the company along with its front-end distribution across Karnataka, Maharashtra, Goa and Kerala where the company has presence,” reported Mint.