ENGINEERING

McNally Bharat to buy 60% stake in Neemrana realty project, sell 30% stake to Pasari family

February 20, 2017 | Joseph Rai

Construction and engineering firm McNally Bharat Engineering Co Ltd will acquire a majority stake in Vedica Sanjeevani Projects Pvt. Ltd for Rs 275 crore (around $40 million), it said in a stock market disclosure.

Exclusive: Jabil to buy part of Ericsson's India EMS biz

February 14, 2017 | Ranjani Raghavan

Jabil Circuit India Pvt Ltd, the local unit of New York-listed Jabil Circuits Inc, has proposed to acquire a part of the electronic manufacturing services business of Ericsson India Pvt. Ltd.

Top court stays tribunal order against carmakers in spare parts case

February 06, 2017 | Maulik Vyas

The Supreme Court has stayed an order of the Competition Appellate Tribunal that held the Indian units of three carmakers guilty of adopting anti-competitive practices in the market for spare parts, two people familiar with the development said.

Exclusive: WestBridge pockets smart returns from industrials portfolio

February 03, 2017 | Bruhadeeswaran R

Private equity firm WestBridge Capital has once again pushed the exit button on one of its fairly young portfolio companies in the listed space, a year and a half after first making a partial exit from it.

JTEKT Corp to buy out Indian partner in Sona Koyo Steering

February 01, 2017 | Joseph Rai

Japan’s JTEKT Corp on Wednesday inked an agreement to buy out its Indian joint venture partner from auto component maker Sona Koyo Steering Systems Ltd and made an offer to acquire additional stake from public shareholders.

Did Multiples Private Equity generate any returns from Sara Sae exit?

January 30, 2017 | Bruhadeeswaran R

Private equity firm Multiples Alternate Asset Management Pvt. Ltd has exited its debut investment by selling its entire stake in Sara Sae Pvt. Ltd, a manufacturer of hi-tech drilling equipment for land and jack-up rigs and other equipment used for oil well drilling.

Nissan Motor challenges tribunal order in Supreme Court

January 30, 2017 | Maulik Vyas

The Indian unit of Japan’s Nissan Motor Company has approached the Supreme Court against an order of the Competition Appellate Tribunal that held the carmaker guilty of adopting anti-competitive practices in the market for spare parts, said two people familiar with the development.

Mahindra to buy majority stake in Turkey’s Hisarlar for $19 mn

January 20, 2017 | Ankit Doshi

Mahindra & Mahindra Ltd, India’s biggest tractor maker, said on Friday it has agreed to acquire a 75.1% stake in Turkish farm machinery maker Hisarlar Makina Sanayi ve Ticaret Anonim Sirketi.

Motherson Sumi to acquire Finland's PKC Group for up to $610 mn

January 20, 2017 | TEAM VCC

Motherson Sumi Systems Ltd, India's largest auto-component maker, has agreed to acquire Finland's PKC Group Plc for as much as €571 million (Rs 4,150 crore or $610 million).

India December auto sales post steepest drop in 16 years on cash woes

January 10, 2017 | Reuters

India's automobile sales saw their biggest monthly fall in 16 years in December after Prime Minister Narendra Modi's ban on high-value banknotes sparked a severe cash shortage that dented demand for big-ticket items such as cars.

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