{LONGTERMINVESTORS} Corporate News · Mahindra & Mahindra, has decided to acquire the European two-wheeler subsidiary company of Mahindra Two Wheelers for euro 26.3 million (about Rs 197 crore).The Mumbai-based company has agreed to acquire 14.9 million equity shares aggregating 100 per cent of share capital of Mahindra Two Wheelers Europe Holdings (MTWL-Europe), a subsidiary of M&M.(BS) · Tata Motors Finance, the vehicle financing company owned by Tata Motors, will transfer its new vehicle finance business to Sheba Properties, to its fully owned subsidiary.The transfer to Sheba Properties is done for an undisclosed lump sum consideration (arrived at based on an independent valuation exercise), (BS) · IRB Infrastructure has received letter of award from the National Highways Authority of India (NHAI) for Rs 2100 crore highway project in Rajasthan and Gujarat. The company has received letter of award from NHAI for the project of six laning from Udaipur to Rajasthan/Gujarat border i.e from km 287.4 to 4

Corporate News

·      Mahindra & Mahindra, has decided to acquire the European two-wheeler subsidiary company of Mahindra Two Wheelers for euro 26.3 million (about Rs 197 crore).The Mumbai-based company has agreed to acquire 14.9 million equity shares aggregating 100 per cent of share capital of Mahindra Two Wheelers Europe Holdings (MTWL-Europe), a subsidiary of M&M.(BS)

 

·      Tata Motors Finance, the vehicle financing company owned by Tata Motors, will transfer its new vehicle finance business to Sheba Properties, to its fully owned subsidiary.The transfer to Sheba Properties is done for an undisclosed lump sum consideration (arrived at based on an independent valuation exercise), (BS)

 

·      IRB Infrastructure has received letter of award from the National Highways Authority of India (NHAI) for Rs 2100 crore highway project in Rajasthan and Gujarat. The company has received letter of award from NHAI for the project of six laning from Udaipur to Rajasthan/Gujarat border i.e from km 287.4 to 401.2 section of NH 8 in the states of Rajasthan and Gujarat.(BS)

·      Tata Motors has forayed into the Bolivian commercial vehicles market through a distribution agreement with Bolivian Auto Motors, a part of the business group Salvatierra. Besides Bolivia, Tata Motors commercial vehicles are also sold in other South American markets such as Chile and Ecuador.(BL)

 

·      Pfizer Ltd has concluded the sale of its four products - Neko Soap, Sloans, Ferradol and Waterbury's Compound to Piramal Enterprises Ltd. In May 2016, Pfizer entered into an agreement with Piramal Enterprises to sell its four products for a total consideration of Rs 110 crores. (BS)

 

·      Suven Life Sciences Ltd has received product patents from India and Japan for the new chemical entities (NCEs) used in the treatment of disorders associated with neurodegenerative diseases. These patents are valid through 2026 and 2032 in India and Japan respectively. (BS)

 

·      Mukta Arts is planning to transfer its entire business of cinema division to its wholly-owned subsidiary Mukta A2 Cinemas. The subsidiary, Mukta A2 Cinemas, will be created on a slump-sale basis through a business transfer agreement between the company and its subsidiary. (BS)

 

·      NIIT has acquired the business of Bangalore-based start-up Perceptron Learning Solutions Private Limited. This acquisition aims to bring together complementary technology platforms and capabilities of NIIT and Perceptron, enabling NIIT to further accelerate its Digital Transformation initiatives – StackRoute, digiNxt, and Training.com. (BS)

 

·      Bharat Petroleum Corporation Ltd (BPCL) will have to invest over ₹3,000 crore over the next year to upgrade its existing refining capacity to meet better fuel standards. (BL)

 

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CA Mihir Desai

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