Tuesday, April 16

Tag: Merger

Snapdeal Walks Away From Merger Deal With Flipkart
31Jul By Ankita SinghNo Comments
News

Snapdeal Walks Away From Merger Deal With Flipkart

Jasper Infotech Pvt Ltd owned online marketplace Snapdeal has walked away from talks to sell itself to Flipkart and now looks to try and survive as an independent entity. The online marketplace will try and survive by selling assets and cutting operational costs. (more…)
Read More
Mobikwik & Freecharge Initiated Merger Talks
25Apr By AnkitaNo Comments
BUSINESS

Mobikwik & Freecharge Initiated Merger Talks

As per the report, India's two leading e-wallet company MobiKwik & Freecharge looking to merge in an all-stock deal. According to speculation, behind this deal a chinese investor who is willing to pump Rs USD 200 million into this deal. The talks between Freecharge and MobiKwik are on their initial stages. Sequoia Capital is the major investor in both startups. Jason Kothari, the CEO of Freecharge is in talks with various investors in the US and China. PayPal had earlier shown interest in investing into Freecharge, but the deal did not materialise. PayU, Flipkart and Paytm is rumoured to be interested in FreeCharge. Freecharge is a part of online shopping platform Snapdeal, which has also been in merger talks with e-tailer Flipkart. MobiKwik, which has opened 13 new offices...
Read More
BigBasket and Grofers are in Talks For Possible Merger
19Apr By AnkitaNo Comments
ACQUISITION

BigBasket and Grofers are in Talks For Possible Merger

India's online grocery delivery service BigBasket and smaller rival Grofers India Pvt. Ltd. have begun talks on a possible merger, Indian newspaper Mint reported on Wednesday, citing sources. If the merger goes through, SoftBank Group (9984.T), which is an existing investor in Grofers', will participate in a $60 million to $100 million funding round in the merged company, the report added. The talks, which are in early stages, may value BigBasket at about $700 million to $800 million, while Grofers could be valued at $150 million to $200 million, Mint added. Online grocery sales are a fast growing segment in India's e-commerce industry as more consumers log in to internet for their purchases.
Read More
Public Pension Capital Acquires Viteos Fund Services
5Apr By AdityaNo Comments
ACQUISITION

Public Pension Capital Acquires Viteos Fund Services

Public Pension Capital (PPC) and FiveW Capital today announced they, together with Viteos management, have acquired Viteos Fund Services, a leading provider of middle- and back-office technology and services for the investment management industry. The transaction brings together a group of financial and strategic investors experienced in building and growing technology and service providers. The Viteos management team will continue to lead the company. Viteos, founded in 2003, provides customized straight-through-processing and integrates post-trade operations for the investment management industry in the United States, Europe and Asia. It is a leader in shadow-accounting services and offers a full range of middle- and back-office outsourcing through its 500+ employees and straight-thro...
Read More
Struggling E-commerce Company Snapdeal Rope in SBI Caps and Kotak Mahindra Capital For IPO in 2019
1Apr By PriyankaNo Comments
News

Struggling E-commerce Company Snapdeal Rope in SBI Caps and Kotak Mahindra Capital For IPO in 2019

Struggling ecommerce major Snapdeal has sounded out five merchant bankers, including SBI Caps and Kotak Mahindra Capital, to work on a public offer that is likely to hit the market in the second half of 2019. The third largest marketplace majority owned by Japanese giant SoftBank has also reportedly appointed Swiss investment banking major Credit Suisse as a special advisor for the share sale, people aware of the development told PTI. "The IPO process is on with in earnest and may open in the second half of calender 2019, depending on the market sentiment. The management has zeroed in on five i-bankers incluing SBI Caps and Kotak MahindraBSE 0.82 % Capital,"said the source. The source also said out of the five i-bankers sounded out, it will pick only one lead-banker that could be ...
Read More
Indian Government Approves Merger of 5 Associate Banks With SBI
15Feb By Press Trust of IndiaNo Comments
INDIA

Indian Government Approves Merger of 5 Associate Banks With SBI

The Cabinet today gave go-ahead to the merger of State Bank of India (SBI) and its associate lenders that would make the state-owned lender a global-sized bank. India's largest lender SBI had last month mooted the proposal for merger of its five subsidiary banks with itself and acquisition of the newly set up Bharatiya Mahila Bank. SBI has five associate lenders -- State Bank of Bikaner and Jaipur, State Bank of Travancore, State Bank of Patiala, State Bank of Mysore and State Bank of Hyderabad. "Kindly await a structured briefing on that," Telecom Minister Ravi Shankar Prasad said when asked if the Cabinet approved the merger of associate banks with the SBI. Meanwhile, SBI Chairperson Arundhati Bhattacharya said, merger of SBI and its associate banks is a win-win for both the sides....
Read More
CCI Clears Acquisition of Ibibo Group By MakeMyTrip
4Feb By NitishNo Comments
ACQUISITION

CCI Clears Acquisition of Ibibo Group By MakeMyTrip

Fair trade regulator CCI has approved online travel portal MakeMyTrip's proposed acquisition of rival Ibibo group in an equity deal that would create one of the country's largest online travel firm. As per the deal announced in October last year, South Africa's Naspers and China's Tencent Holdings would sell Ibibo Group to MakeMyTrip in exchange for an issuance of new shares by the latter. The Competition Commission of India (CCI) has approved the deal, as per the latest update on the regulator's website. Post completion of the transaction, MakeMyTrip would own 100 per cent of Ibibo Group, and Naspers and Tencent will become largest shareholder in MakeMyTrip, owning a 40 per cent stake and will contribute proportionate working capital, MakeMyTrip had announced in October last year. ...
Read More
Reliance Communications, Aircel Merge Will Create Rs 65K cr Asset Base Entity
15Sep By Press Trust of IndiaNo Comments
BUSINESS

Reliance Communications, Aircel Merge Will Create Rs 65K cr Asset Base Entity

Anil Ambani-led Reliance Communications today agreed to merge its wireless telecom business with smaller rival Aircel to create the country's 4th-biggest mobile phone operator with asset base of more than Rs 65,000 crore. In the largest consolidation in the countrys telecom sector, RCom and Aircels majority owner, Malaysias Maxis Communications Berhad (MCB), announced signing of definitive documents for the merger of their Indian wireless businesses. RCom and Aircel will hold 50 per cent each in the new company. The board of the new company will have equal representation from the two sides. "The RCom-Aircel combination will create a strong operator clearly ranked amongst Indias top 4 telcos by customer base and revenues, also ranking amongst the top three operators by revenues ...
Read More