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.

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.

“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.

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.

“Indo-UK Institute of Health (IUIH), a healthcare provider, said that work on the second of its 11 Medicity facilities in Amaravati is slated to begin in the coming days as IUIH is scheduled to get possession of allotted land from the Andhra Pradesh government very soon. The hospital is being built in association with King's College Hospital, London, at an investment outlay of Rs 1,600 crore,” reported the Times of India.

"Bharti Airtel Ltd, India’s largest telecom service provider, on Monday said that it has acquired a strategic stake in digital publishing platform Juggernaut Books," reported Mint.

Vodafone India, Vodafone Mobile Services and Idea Cellular have announced their proposal separately to sell their standalone telecom tower businesses to ATC Telecom Infrastructure, a majority-owned subsidiary of American Tower Corporation for about INR 7,850 crores ($1.2 billion), as reported by Mint. The transaction is subject to customary closing conditions and receipt of necessary regulatory approvals.

The promoters of Mumbai-based Donear Group have announced the acquisition of OCM Woollen Mills from its existing owner, a private equity fund house, as part of the strategy to consolidate their top position in Indian textiles industry, as reported by The Economic Times. OCM is one of India’s best-quality manufacturer of premium range of high-quality all-wool and wool-blended worsted suiting fabrics.

Subhash Chandra-owned, Essel Finance Management, the financial services arm of the Essel Group has acquired the controlling stake of insurance policy aggregator Bimadirect, operated by Coretree Insurance Brokers (India) for an estimated amount of Rs. 25-30 crores (approximately $3.8 - $4.6 million), as reported by The Economic Times & VC Circle. The deal will see Essel Finance paying 75% of the deal amount upfront, and the rest over a period of two years.

Latest comments