M&A
ArcelorMittal forms JV with Nippon Steel to run Essar Steel
18 Dec 2019
With an annualised crude steel production capacity of 7.5 million tonnes and iron ore pellet facilities with current annual capacity of 14 million tonnes, the new joint venture company AM/NS India plans to increase finished steel shipments to 8.5 million tonnes over the medium-term
Fiat Chrysler, Peugeot agree to $50 billion merger
18 Dec 2019
The new company will be the fourth largest global OEM by volume and third largest by revenue, with annual sales of 8.7 million units and combined revenues of nearly €170 billion
Reliance and BP announce fuel retail joint venture, Jio-BP
17 Dec 2019
As per the agreement, BP will invest Rs7,000 crore for a 49 per cent stake in the joint venture, which will assume ownership of RIL’s existing Indian fuel retail network and access its aviation fuel business to create 5,500 retail sites over five years
$11 bn Asahi-CUB deal hits regulatory bump in Australia
12 Dec 2019
The ACCC move comes as a blow for AB InBev, which has been selling assets and took its Asian business public this year to reduce the $100 billion net debt accumulated after its 2016 acquisition of rival SABMiller
Rel Jio set to bag RCom’s tower, fiber assets with Rs3,600-cr bid
11 Dec 2019
At Rs3,600-crore, Reliance Jio’s bid is the highest for Rcom’s tower business and optical fiber network worth a total Rs10,000 crore
Bharti Telecom seeks nod for Rs4,900-cr FDI to make it foreign
09 Dec 2019
Bharti Airtel has been in discussion with Singtel and other entities for fund infusion and has already applied for government permission to raise the company’s FDI limit to 100 per cent
Phoenix to acquire Swiss Re's UK business for $4.1 bn
06 Dec 2019
The acquisition will create an enlarged Phoenix Group with £329 billion of assets under administration and 14.1 million policies, confirming Phoenix’s position as the largest life and pensions consolidator in Europe
Mukesh Ambani in talks to sell media assets to Times Group: Bloomberg
28 Nov 2019
RIL, which saw its media arm Network18 report a loss of Rs178 crore in the year ended March 2019 and a net debt of Rs2,800 crore, is weighing various options, ranging from an outright exit to a stake sale
Bajaj Auto to invest $8 million in mobility sharing platform Yulu
26 Nov 2019
Yulu will source from Bajaj electric two-wheelers which have been co-designed and manufactured exclusively for shared micro-mobility, while Bajaj will provide financial support