Jubilant Organosys is evaluating various proposals to acquire companies in the contract research and manufacturing services, drug discovery and clinical research segments in the US and Europe, reports suggest. It has earmarked around $100 million for acquisition.
ONGC Videsh (OVL), the overseas arm of state-run Oil and Natural Gas Corp (ONGC), has reportedly bagged two oil and gas exploration blocks off Brazil. OVL won deepwater Block 470 in the highly prospective Espirito Santo basin and shallow water Block 1413 in another highly prospective Santos basin.
Mahindra Holidays and Resorts, part of Mahindra & Mahindra Group, is reportedly planning to develop holiday homes on ownership basis. It also plans to float an IPO By March 2008.
The board of directors of Kirloskar Electric Company on Wednesday, 28 November 2007 approved the merger of the operating business of Kirloskar Power Equipments with itself. The board also approved merger of its subsidiary Kaytee Switchgear with itself.
ABG Shipyard said on Wednesday its board had approved raising funds through issue of equity shares to qualified institutional buyers and convertible warrants to the promoters.
DLF is reportedly in talks with tractor company Escorts to acquire its surplus land assets at Faridabad in Haryana. Report suggests that the deal could be sealed at Rs 1,500-crore plus.
United Spirits, part of the UB Group, will be reportedly merging Shaw Wallace with itself. United Spirits during mid of 2005 had acquired Shaw Wallace for around Rs 1,300 crore.
S Kumars Nationwide is learnt to be in advanced stage of negotiations to acquire a UK-based fashion outfit. The target company is controlled by NRIs, the report suggested. The company supplies a range of clothing and accessories for men, women and kids to high street retailers. It also offers a range of services from design to manufacturing and distribution.
Pyramid Saimira Group is reportedly planning to raise around Rs 750 crore through IPO for its subsidiary Pyramid Saimira Productions. The company has also acquired 51% stake in Dimples Cine Advertising in an all-cash deal.
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