The Hindu Business Line : Tuesday, August 19, 2008

CORPORATE

MERGERS & ACQUISITIONS: Mahindra buys 51% in Chinese tractor co
Mumbai, Aug. 18 Tractor and utility vehicle maker Mahindra & Mahindra has agreed to pick up majority equity in a joint venture it will form with China’s third largest tractor company, Yancheng Tractor. ...

INSIGHT: M&A in H1 2008: Times they are a-changin’
Indian M&A (mergers and acquisitions) has seen two distinct changes since January 2008. First, following the precedent of the Ranbaxy deal, it is now possible to contemplate Indian promoters giving up their flagship businesses, and second, ...

VENTURE CAPITAL: PVP Ventures plans big investments in power
Malaxmi Energy merger to facilitate larger role. Chennai, Aug. 18 PVP Ventures Ltd is set for major investments in the power sector with the proposed merger of Malaxmi Energy Ventures with ...

ALLIANCES & JOINT VENTURES: Haldia Petro to invest Rs 70 cr in power venture
Project expected to improve bottomline by Rs 155 cr a year. Kolkata, Aug. 18 Having acquired the captive power joint venture — HPL Cogeneration Ltd (HPLCL) — in May this year, Haldia Petrochemicals Ltd (HPL) is planning a Rs ...

RIGHTS ISSUE: Hindalco down 4.5% on equity dilution plans
Another group co Grasim too slips. Hindalco Industries finished down 4.53 per cent with surge in traded quantity. Other base metal players, such as Nalco, closed flat, while Sterlite declined by 1.5 per cent. ...

MERGERS & ACQUISITIONS: Berger acquires Bolix
Berger Paints India on Monday formally acquired Bolix SA of Poland at a price of around $38.6 million. The deal was executed through a complete buy-out of Advent International, a global private equity investor, which held 100 per cent stake in ...

TRADE & LABOUR UNIONS: Lockout continues at Kochi Apollo Tyres unit
Kochi/New Delhi, Aug. 18 The lockout at the Apollo Tyres factory at Perambra in Kerala is continuing and so far no date has been fixed for talks between the Labour Commissioner, the management and workers. ...

ALLIANCES & JOINT VENTURES: NMDC signs pact with Rio Tinto for jt venture
New Delhi, Aug. 18 Global mining major Rio Tinto and public sector NMDC Ltd on Monday signed a MoU to explore mineral resources, particularly iron ore, globally, including ...

OUTLOOK: Deccan Express to raise funds worth $200 m
Bangalore, Aug. 18 Deccan Express Logistics, an air and ground distribution network company formed by Capt. G.R. Gopinath, plans to raise $200 million to fund the project, which is expected to become operational by the first quarter of the ...

PEOPLE: Gopal Srinivasan, T.K. Balaji resign from TVS Motor board
Chennai, Aug. 18 TVS Motor Company on Monday announced that two of its directors from the promoter family, Mr Gopal Srinivasan and Mr T.K. Balaji, had resigned. ...

NEW PROJECTS: Aries Agro proposes units at Panvel, Lucknow
Ahmedabad, Aug 18 Specialty micronutrients and bio-fertilisers company Aries Agro Ltd (AAL) would start two more micronutrient plants at Lucknow and Panvel (New Mumbai) by December 2008, Dr Rahul Mirchandani, Executive Director, said here on ...

OVERSEAS INVESTMENTS: Elgi Equip on expansion mode
Coimbatore, Aug. 18 Coimbatore-based compressor manufacturer Elgi Equipments Ltd (EEL), which is building a factory in China, is looking at expanding its footprint to Brazil as ...

NEW PROJECTS: NTPC’s Dadri project on track
New Delhi, Aug. 18 Power major NTPC Ltd’s 980 MW coal-based power generating station at Dadri in Uttar Pradesh, being established as part of the infrastructure for the Commonwealth Games, is expected be commissioned according to ...

ALLIANCES & JOINT VENTURES: ONGC picks up 30 pc more in Cambay block
ONGC has exercised its right to pick up an additional 30 per cent in CB-ON-7 in the South Pramoda Development Area in the Cambay basin. ...

NEW BUSINESS: Efkon to provide toll management services to 3 road projects
New Delhi, Aug. 18 Efkon India, a subsidiary of Efkon AG, along with its new shareholder Strabag SE, has received orders worth Rs 28.05 crore to build and manage toll management services for three projects. ...

OVERSEAS INVESTMENTS: M&M consolidating its base in China
May provide fillip to other export markets. Mahindra and Mahindra’s joint venture with the Yancheng Tractor Company in China will help the company cater to the fast-growing Chinese tractor market besides providing a fillip for its ...

NEW BUSINESS: Long-term revenue visibility seen
ESIC order strengthens Bartronics’ domestic presence. Bartronics’ Rs 400-crore contract win from the Employees State Insurance Corporation (ESIC) enhances its strong domestic presence; India already contributes over 50 per cent of ...

STANDARDS & BENCHMARKS: Suven Life’s API gets nod in Europe
Suven Life Sciences Ltd has been granted the first Certificate of Suitability (CEP) by the European Directorate for the Quality of Medicines for its Active Pharmaceutical Ingredient (API), Tamsulosin Hydrochloride. The CEP would mean that the API ...