Actions that will be in action on December 19, 2022 | Jobs Vox


DRRDBV, subsidiary Laboratories of Dr. Reddy, entered into a pact to sell certain assets and liabilities of its Netherlands-based site. Dr Reddy’s Research and Development BV (DRRDBV) has entered into an asset purchase agreement with Delpharm Development Leiden BV, part of France’s Delpharm Group, according to the drug company’s regulatory filing. The agreement includes the sale of certain assets and liabilities, including the transfer of employees at the Leiden, Netherlands-based location, it added.

Edelweiss Alternatives has entered into a contract with Larsen & Toubroand the Canada Pension Plan Investment Board to pick up their 100 per cent stake in L&T’s infrastructure development projects at an enterprise value of Rs 6,000 crore. The target company’s portfolio consists of eight roads and one power transmission facility, comprising 4,900 kilometers of track and 960 kilometers of circuit, respectively.

Kirloskar Oil Engines Ltdhas joined hands with transport infrastructure consulting and engineering firm RITES Ltd to explore business opportunities for the export of railway rolling stock, in addition to infrastructure and urban transport for domestic and international markets, the company said in a statement.

YES Bankhas concluded the allocation of the bank’s loan portfolio of ₹48,000 crores worth ₹48,000.00 to JC Flowers Asset Reconstruction. The bank previously announced JC Flowers Asset Reconstruction Private Limited (JC Flowers ARC) as the winner of the Swiss Challenge process for the sale of its identified portfolio of stressed assets.

Jindal Steel and Power Limited (JSPL) will spend ₹7,930 crore under the PLI scheme for special steel to produce eight types of high-quality alloys in the country, its managing director Bimlendra Jha said.

Comrade MajorSun Pharmahas received a warning letter from the US health regulator for its Halol facility which is already under an import warning. The warning letter summarized the violations in terms of current good manufacturing practice (cGMP) regulations, the Mumbai-based company said in a regulatory filing.

Patel Engineeringhas approved raising up to INR 350 million through rights issue. The green light was given during a meeting of the company’s board of directors held on Friday.

UPL has announced the completion of an investment of INR 2,474 crore by KKR for a 13.33 per cent stake in Advanta Enterprises. This is part of a larger corporate alignment announced in October 2022 to create four distinct business platforms – Global Crop Protection (ex-India), India Agtech, Global Seeds and Manufacturing & Specialty Chemicals to unlock the growth potential of each platform and unlock value for UPL shareholders by enabling ‘fair value recognition’ of each platform.

A consortium of three Indian partners – 3i Infotech Limited, Forensics Intelligence Surveillance and Security Technologies Private Limited (FISST) and Yellow Inc – has been awarded a Wi-Fi monetization project by RailTel Corporation of India Limited, with the company as the lead bidder.

Pfaudler Inc, controlled by DBAG Fund VI, a private equity firm; DBAG sold 77,85,819 shares (17.32 percent) GMM Pfaudlerthrough bulk deals at ₹ 1,700 per share. DBAG has been a financial investor in the company since 2014. After the sale, the Patel family became the single largest shareholder of the Promoter. The Patel family has entered into an arrangement to purchase 4,49,572 shares (1 percent) from DBAG at ₹ 1,700 per share, subject to regulatory approvals, through a promoter-to-company transfer.

Committee for SJ Corporation Ltd will be held on December 26 to invest in a partnership firm to carry out a real estate project in Surat and consider any other matter with the permission of the Chairman.

Ministry of Environment, Forests and Climate Change, Government of India has granted final approval/phase – II approval under the Forest (Conservation) Act, 1980 for diversion of 401.5761 hectares of forest land in Swamimalai Block Forest, Sandur Taluk, Ballari District , Karnataka for iron and manganese ore mining in the Devadari hill range in favor of KIOCL doo.

GMR Megavide Cebu Airport Corporation (GMCAC), a joint venture between GMR Airports International BV (GAIBV), a divested subsidiary GMR infrastructure, and Megavide Construction Corporation (MCC). Pursuant to the definitive agreements entered into by GAIBV, GMCAC and MCC with Aboitiz InfraCapital Inc (AIC), for AIC to acquire shares in GMCAC, upon completion of all customary approvals. GAIBV has received an amount of ₹1389.90 crores, on account of sale of shares in GMCAC and issue of convertible notes to AIC, which notes are convertible under the agreements against GAIBV’s balance sheet equity in GMCAC on 31 October 2024 .

Dilip Buildcon has received letter of acceptance for new HAM project ‘4-laning of Karimnagar Warangal section of NH-563’ in Telangana, from National Highways Authority of India. The order is worth 1,647 crowns.

Tech Mahindrahas approved the sale of a 100 percent stake in a wholly owned subsidiary of Dinacommerce Holdings BV to Comviva Netherlands BV. The price of the transaction is 6.6 million euros, and the expected date for the completion of the transaction is the first week of January 2023.

Phoenix Millshas completed the acquisition of 7.22 acres of land in Surat, Gujarat for ₹ 510 crore. Land acquired through subsidiary Thoth Mall and commercial real estate. Thoth will develop a premium retail destination with approximately 1 million square feet of gross leasable area and currently expects to complete the retail development by FY27.


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