Quess Corp Ltd, India’s leading business services provider, announced that it has agreed to divest its wholly-owned subsidiary, Qdigi Services Limited, to Onsitego, India’s #1 device-care provider. As part of the transaction, the entire team and business of Qdigi will be transferred to Onsitego. Quess will receive total cash consideration of ₹80 cr., subject to…
Larsen & Toubro (L&T), an Indian multinational engaged in EPC Projects, Hi-Tech Manufacturing and Services, has announced the divestment of its 100% stake in L&T Infrastructure Engineering Limited (LTIEL), a provider of standalone engineering consultancy services for the infrastructure sector in India. The stake has been acquired by STUP Consultants Private Limited, a subsidiary of…
Pharma major Cipla announced it has sold its entire stake of 51% in Saba Investment Limited (Saba) to Shibam Group Holding Limited. According to the company’s exchange filing, “, we hereby notify that the Company has entered into a binding term sheet to sell its entire stake of 51% held in Saba Investment Limited, UAE…
Dr. Reddy’s Laboratories Ltd. announced the signing of a deal to divest certain non-core brands of the company in the dermatology segments to Eris Lifesciences Limited. Under the agreement, Eris Lifesciences will be assigned the trademark of these brands by Dr. Reddy’s for a consideration of Rs. 275 cr. As per IQVIA MAT December 2022,…
STL, one of the industry’s leading integrators of digital networks, announced its divestment of Impact Data Solutions Limited (IDS), UK, as a part of its consolidated strategy to focus on its core business segments of optical solutions and global services. With a strategic intent to play to its core, STL will sell its equity in…
GMR Coal Resources Pte Ltd (GCRPL), a stepdown subsidiary of GMR Power and Urban Infra Limited (GPUIL), has entered into definitive agreements to divest the 30% equity stake it holds in PT Golden Energy Mines Tbk (PT GEMS) to PT Radhika Jananta Raya (Purchaser) a subsidiary of PT ABM Investama Tbk (ABM), following a competitive…
GHCL Limited has completed the divestment of its Home Textile business to lndo Count Industries Limited effective 2nd April 2022, after obtaining all relevant regulatory and shareholders’ approvals. The total consideration for divestment of the Home Textiles Business has been calculated at INR 608.30 crores (subject to validation of customary closing date adjustment of working…
Techno Electric & Engineering Company Limited (TECHNO) and Kalpataru Power Transmission Limited (KPTL), a joint venture partner in Kohima-Mariani Transmission Limited (KMTL), announced it has successfully completed transfer of 49% stake (26% by TECHNO and 23% by KPTL) in KMTL to Apraava Energy Private Limited (formerly known as CLP India Private Limited). KMTL is a…
T S Global Holdings (TSGH) Singapore, a 100% indirect subsidiary of Tata Steel Limited, executed definitive agreements with TopTip Holding Pte Ltd. (TopTip), a Singapore based steel and iron ore trading company, to divest its 100% equity stake in NatSteel Holdings Pte. Ltd. (NSH) for an Equity Value of USD 172 million (Rs 1,275 crores).…
Shoppers Stop Ltd. announced that it has closed the sale of a controlling stake of its 100% Subsidiary, Crossword Bookstores Limited (Crossword Bookstores) to M/s. Dinesh Gupta, Aakash Gupta and Family (Owners of Agarwal Business House) (ABH), Pune, pursuant to the share purchase agreement between Shoppers Stop and ABH (the Agreement) signed on August 31,…
GMR Infrastructure Limited (GIL) announced the receipt of total First Tranche Consideration towards the sale of equity owned by its wholly owned subsidiary GMR SEZ and Port Holdings Limited (GSPHL) of its entire 51% stake in Kakinada SEZ Limited (KSEZ) to Aurobindo Realty and Infrastructure Private Limited (ARIPL). As part of the said transfer of…
ABB has announced that it has signed a definitive agreement to divest its Mechanical Power Transmission division (Dodge) to RBC Bearings Incorporated, for $2.9 billion in cash. According to a statement, the transaction will create a manufacturer of highly engineered, performance-critical bearings and motion control components. The transaction is expected to be completed by the…
Reliance Marcellus, LLC (RMLLC), a wholly owned subsidiary of Reliance Industries Limited (RIL), announced the signing of agreements to divest all of its interest in certain upstream assets in the Marcellus shale play of south-western Pennsylvania. These assets, which are currently operated by various affiliates of EQT Corporation (EQT), have been agreed to be sold…
Infosys, a global leader in next-generation digital services and consulting, said it has divested one-third of its holding in US-based Whoop for about USD 10 million (about Rs 73.5 crore), according to PTI report. In 2015, Infosys had announced making a USD 3 million investment in US-based wearable device startup Whoop for a minority shareholding…
Tata Consumer Products, a F&B focused consumer products company, has decided to divest its MAP Out of Home coffee business in Australia to Buccheri Group Pty Ltd, a Boutique Coffee manufacturer established in Australia in 2007, and led by Santo Buccheri and his family. This divestment does not impact Tata Consumer Products’ existing branded tea…