Archive for April, 2011

General Motors India Pvt. Ltd to invest $500 million in India by the year 2012

Comments Off | 04-30-2011

US auto-manufacturing giant General Motors Co. is to invest $500 million by 2012 in the expansion of its production capacity in India, reported Reuters. The investment will be undertaken by GM’s Indian unit, General Motors India Pvt. Ltd.
The money will be used to expand production capacity for vehicles and engines, as GM positions itself to

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Tata Power Company commissions the largest solar power plant in Maharashtra

Comments Off | 04-29-2011

In a bid to build a robust renewable energy portfolio that is 20-25% of its total generation capacity, Tata Power, India’s largest integrated private power utility, commissioned its 3 MW, Photo Voltaic (PV) based, grid connected solar power plant at Mulshi, Maharashtra.
This is the first and largest solar photovoltaic (PV) power plant in the State

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Dana Holding Corporation agrees to acquire select assets of its Indian JV Axles India Ltd

Comments Off | 04-28-2011

Dana Holding Corporation has signed a definitive agreement with Axles India Ltd (AIL), to acquire select assets of AIL’s commercial truck axle business. The Investment is for a consideration of $13 million.
Under terms of the agreement, Dana will assume full ownership of AIL’s axle drive head and final axle-assembly operations. The axle drive head includes

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Aqua Logistics Ltd to buy 70 per cent stake in Nikkos Logistics Pvt Ltd

Comments Off | 04-26-2011

Aqua Logistics Ltd is to buy 70 per cent stake in Bangalore-based Nikkos Logistics Pvt Ltd. Nikkos Logistics offers diversified logistics services including supply chain management service, reported Deal Curry.
Aqua Logistics provides services such as transportation, warehousing and re-distribution of cargo. The Company is promoted by Rajesh Uchil, MS Sayad, Harish Uchil and Gopalkrishna Uchil.

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Oman Investment Fund may purchase 5% in Mumbai based Universal Commodity Exchange

Comments Off | 04-26-2011

According to a report carried by the Economic Times of India, the Oman Investment Fund (OIF) is mulling the purchase of a 5 per cent stake in Mumbai based Universal Commodity Exchange (UCX). The move marks the first investment by a sovereign wealth fund in an Indian commodity bourse and reflects the growing interest of

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Royal Caribbean International and Kingfisher Airlines form an alliance

Comments Off | 04-25-2011

Royal Caribbean International and Kingfisher Airlines have formed an alliance that will offer customers conveniently bundled vacation packages as well as enhanced member benefits for members of King Club, Kingfisher Airlines’ loyalty program.
Kingfisher Airlines is one of India’s market-leading airlines and is a member-elect of the world’s leading quality airline alliance, oneworld. Royal Caribbean International

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GlaxoSmithKline Biologicals looking to acquire Biological E Limited’s vaccine division

Comments Off | 04-23-2011

The Economic Times of India Wednesday reported that GlaxoSmithKline Biologicals is keen on acquiring India’s Biological E Limited’s vaccine division. GlaxoSmithKline Biologicals is a Belgium based division of global drug giant Glaxo. The Hyderabad based Biological E Limited’s vaccine division produces and markets a range of pediatric and adult vaccines.
Biological E Limited is a biopharmaceutical

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Polaris Industries Inc. acquires Indian Motorcycle

Comments Off | 04-22-2011

Polaris Industries Inc. Wednesday announced the acquisition of Indian Motorcycle. The business was acquired from Indian Motorcycle Limited (IML), a company advised by Stellican Limited and Novator Partners LLP, U.K. Private Equity firms. Terms of the transaction were however not disclosed.
Scott Wine, CEO of Polaris Industries Inc noted that after a troubled past, the firm’s

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Sesa Goa Limited picks up minority stake in Cairn India Ltd from PETRONAS for $2.1 billion

Comments Off | 04-21-2011

Sesa Goa Ltd Tuesday announced that it has acquired 200 million shares amounting to 10.4 per cent stake in Cairn India from PETRONAS International Corporation Ltd. The investment was at a consideration of $2.1 billion, priced at about 331 rupees per share.
According to Sesa Goa Ltd, the acquisition is in addition to the Open Offer

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Aditya Birla Chemicals acquires Chloro Chemicals Division

Comments Off | 04-20-2011

The Board of Aditya Birla Chemicals (India) Limited, a company of the Aditya Birla Group, approved the acquisition of the Chloro Chemicals Division (CCD) of Kanoria Chemicals & Industries Limited for a cash consideration of Rs.830 crore. Aditya Birla Chemicals is currently a chlor alkali producer with its plant located at Rehla in the State

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