Bharti Airtel, India’s largest telecoms operator, Thursday reported it intends to invest US$600 million in expansion of its mobile network in rural areas. The plans for expansion will be undertaken in Nigeria, through Bharti Airtel’s newly acquired subsidiary, according to the Economic Times reports.
Air Works, a dominant player in India’s Maintenance Repair and Operations (MRO), Tuesday announced it is on the look out for acquisition investments in its line of business overseas. Air Works undertakes services in repairs and advanced maintenance of Boeing-737 and turboprop ATR planes. The announcement was made by senior company officials in a press statement.
The Hongkong and Shanghai Banking Corporation (HSBC) reported it had agreed on a deal that will see it takeover the Royal Bank of Scotland (RBS) Group Plc’s retail and commercial businesses in India. The UK based banking corp. reported that it would pay a premium of $95 million for RBS’ retail and commercial businesses in India, about Rs 446.50 crore investments over the net asset value.
In a bid to enhance its product line up and strengthen its burgeoning business in India, DuPont reported that it had acquired two cotton businesses. The company’s business Pioneer Hi-Bred said it bought the two cotton seed business based in Andhra Pradesh. The two acquisitions are Nandi Seeds’ cotton business, based in Mehboob Nagar, and cotton germplasm from Nagarjuna Seeds, based in Secunderabad, both in the state of Andhra Pradesh.
Sumitomo Mitsui Banking Corporation (SMBC), a Japanese bank, reported that it intends to invest Rs 1,366 crore in an investment for the acquisition of a 4.5% stake in Kotak Mahindra Bank (KMB), the Indian private sector lender. Kotak agreed on an investment deal that will see it sell 164 million shares at 833 Indian Rupees per share, totaling to Rs 1,366 crore to Sumitomo Mitsui Banking Corporation, read a statement by Kotak Bank filled to the Bombay Stock Exchange.
GTL Infrastructure Ltd said it is willing to make further acquisition investments after purchasing Anil Ambani’s mobile phone towers. According to the company, the continuing vigorous competition in the Indian telecoms sector is pushing the country’s telecommunications industry towards consolidation.
Swiss multi-national drug manufacturer, Roche Holding AG, announced that it intends to invest in the acquisition of diagnostic equipment makers and innovative diagnostic products in India. The Swiss giant said it would undertake the Indian investments through its subsidiary, Roche Diagnostics; in an investment acquisition that marks the drug makers first such move ever since the beginning of its operations fifty years ago.
VA Tech Wabag, a water and waste management company, said Monday that it is keen on investment in acquisitions to fuel its growth and expansion. In the announcement, the company said it was currently seeking both local and offshore markets investments and as such, it will commence its initial public offering (IPO) of about Rs 500 crore over the coming three months, according to a senior company official.
The Indian government Thursday announced that it would allow calibrated FDI openings in retail and defence. In its assurances to the US Inc over its concerns on infrastructure, investments restrictions and other FDI impediments, the government said the challenges would be addressed promptly, with a blueprint to be made ready for talks ahead of US President, Barrack Obama’s visit to India in November.
Orkla ASA, the giant Norwegian branded consumer goods manufacturer, reported that it is keen on securing strategic investments in India in its bid to expand and increase its global presence. According to a senior company official, the company aims at expanding its products and services in order to gain from the opportunities available in the processed food products sector.
A senior Company official announced Tuesday that Indian Travel operator, Cox and Kings India is keen on getting shareholder endorsement for raising about Rs 20 billion through equity and debt, in a bid to fund its ambitious growth plans, both in terms of domestic as well as offshore acquisition investments. The company’s Financial Officer, Anil Khandelwal said the fund’s chief aim would be to fund the company’s acquisition plans as it is currently seeking acquisitions both in India and globally.
Essar business process outsourcing arm (BPO), Aegis, reported that it is currently working on various strategies to hit its targeted $1 billion revenue mark. The company has been shopping for investments lately, recently investing in AGC Networks in an acquisition purchase that saw its approximated earnings stand at about $700 million with its headcount reaching 40,000.