Corporate M&A
Corporate M&A
Leading investment and financial services firm, Jupiter Capital has recently completed the acquisition of up to 33 lakh shares amounting to nearly 66% of BSE-listed non-banking financial company TRC Financial Services, by way of an open offer to the shareholders and contractual arrangements for an aggregate transaction value of Rs 5.92 crores (around $924,000). The offer price of the fully paid shares of TRC Financial Services was quoted at Rs 18 per share.
Corporate M&A
Hero Enterprises, led by ex-Hero MotoCorp joint MD Sunil Kant Munjal has acquired 25% of the share capital in Mumbai-based consumer lighting firm Corvi LED Light through an investment of Rs 63 crores (around $10m), as reported by The Economic Times and Business Standard.
Corporate M&A
Itochu Petroleum Co, the Singapore-based subsidiary of Japanese trading company Itochu Corporation has announced the acquisition of 19.7% stake in Aegis Logistics' wholly-owned subsidiary, Hindustan Aegis LPG (HALPG), for INR 239 crores (apporximately $37.8m), as reported by Business Standard and VC Circle in May of last year. In addition to India, Itochu Corporation, the Japanese multinational trading group specialising in oil & gas, metals and other commodities, operates LPG import hubs in Japan and the Philippines.
Corporate M&A
AZB & Partners was the busiest and fastest growing law firm in India this year according to year-end rankings released separately by Bloomberg and Thomson Reuters.
Corporate M&A
“Ola, operated by ANI Technologies Pvt. Ltd, has acquired online food delivery start-up Foodpanda India from its German parent Delivery Hero AG in an all-stock deal that will see the ride-hailing firm infuse $200m in Foodpanda India’s operations,” reported Mint.
Corporate M&A
Acadgild, the Bengaluru-based online education startup operated by Edvista Education Services has recently been acquired by Aeon Learning in an all-stock deal amounting to Rs 64 crores ($10m) as reported by VC Circle and Mint. Acadgild focuses on online degrees and skill development programmes in big data, deep learning and UI/UX design web development, among others and had raised initial investment from venture capital firm Jupiter Capital and K. Ganesh of GrowthStory.