Tuesday, March 19

Tag: adani group

Adani Group Acquires 40.25% Stake of Snowman Logistics, forays into Cold Chain Logistics
ACQUISITION

Adani Group Acquires 40.25% Stake of Snowman Logistics, forays into Cold Chain Logistics

India based Adani group has acquired a majority stake in Snowman Logistics Ltd for Rs 296 crore to foray into cold chain logistics. Adani Logistics Ltd, a wholly-owned subsidiary of Adani Ports and SEZ Ltd, signed definitive agreements to acquire 40.25 per cent stake in Snowman Logistics Ltd from Gateway Distriparks Ltd, the company said in a statement. Snowman is market leader in cold chain logistics with over 30 per cent of capacity amongst integrated organised cold chain service providers in India. The acquisition gives Adani Logistics platform to double its capacity in the next five years. The buyout is in line with the firm's strategy to move from port gate to customer gate. "The purchase price of Rs 44 per share represents a 8 per cent premium to the market price of Dece...
Energy Giant Total Acquires Stake in Adani Group
ACQUISITION

Energy Giant Total Acquires Stake in Adani Group

France-based energy giant Total is eyeing to acquire half of the stake of Adani Group in LNG projects in Gujarat and Odisha. Along with this, the company will also purchase stake in an under-construction LPG import facility and in its city gas projects. Total seems to be showing interest on investing in fast growing gas market in India and finds Adani as a suitable vehicle since it owns crucial downstream infrastructure. The company is in talks to acquire 50 percent stake in the under-construction LPG import terminal that Adani is building at Mundra in Gujarat as well as a stake in Adani’s flourishing city gas distribution projects. India is looking forward to increasing the share of natural gas in its energy basket to 15 percent in the next few years. Along with this, the country...
India’s First Trio (Public-Private-Foreign) Business Deal is a Reality Now!
BUSINESS

India’s First Trio (Public-Private-Foreign) Business Deal is a Reality Now!

The world is set to witness one of the world’s biggest fighter jet deals in play at the moment as the global aerospace maker, Boeing has come to an agreement with India’s state-owned Hindustan Aeronautics Limited (HAL) and private sector Mahindra Defence Systems to locally manufacture the combat jet F/A-18E/F Super Hornet as reported by U.S. company said on Thursday. India had last week issued a request for information for 110 combat jets for the air force, giving a push to the first step towards the long-delayed deal that could be worth more than $ 12-15 billion.   HAL-Boeing-Mahindra Partnership Highlights 1. The deal will come into force under the Make India Program Initiative supported by the Prime Minister of India for reinforcing state-of-the-art production facility in t...