Executive Network Partnering Corp. (ENPC), a special purpose acquisition entity, announced Monday that it has entered into a definitive agreement with Grey Rock Investment Partners, a Dallas-based investment firm, to complete a $1.3 billion business combination. The deal will result in the formation of publicly traded Granite Ridge Resources, Inc. Under the deal, Grey Rock will contribute oil and gas […]

G-III Apparel Group, Ltd. (GIII), a clothing company, said on Monday that it has signed a deal to buy the remaining 81 percent interest in Karl Lagerfeld for 200 million euros or $210 million in cash. G-III, which currently owns 19 percent of the brand, will buy the additional stake from a group of private and public investors, led by […]

Cummins Inc. (CMI) and axle and brake technology firm Meritor, Inc. (MTOR) announced Tuesday that they have entered into a definitive agreement under which Cummins will acquire Meritor for $36.50 per share in an all cash transaction valued at approximately $3.7 billion, including assumed debt and net of acquired cash. Meritor is a global leader of drivetrain, mobility, braking, aftermarket […]

Bosch reports 26.3% growth in net profit to ₹235 cr in Q3 Bosch Limited, the supplier of technology and services, said it would invest a total of ₹2,000 crore in India, in the next five years, in addition to ₹8,000 crore it already pumped in the country over the past decade. The company would invest ₹1,000 crore towards the localisation […]

Such complaints against e-commerce entities have been forwarded to ED, he said. The government has received complaints from trader and industry associations against marketplace online retail firms alleging violation of the FDI policy on e-commerce sector, Parliament was informed on Friday. It has been alleged that certain marketplace e-commerce entities have created complex ownership structures and are engaging in an […]

‘Strong demand for home loans’ Housing Development Finance Corporation Ltd. (HDFC) reported third- quarter net profit rose 11% to ₹3,261 crore from ₹2,926 crore in the year-earlier period on higher core income. However, there was an increase in non-performing loans (NPLs), the lender said. “The demand for home loans and pipeline of loan applications continues to remain strong,” said vice-chairman […]

The intermediary will have to integrate its systems with the KRA to facilitate seamless movement of KYC documents To enhance the role of KYC Registration Agencies (KRAs), the markets regulator has notified new norms to make them responsible to carry out independent validation of the KYC records uploaded onto their system by the Registered Intermediary (RI). Besides, such agencies will […]

‘Market is good, production is going well; having separate firms will create value’ Metals and mining group Vedanta Limited will announce the contours of a proposal to spin off key businesses into separate listed companies by March-end, chairman Anil Agarwal said. While the zinc business is already housed in a listed subsidiary, the plan is to demerge the aluminum, iron […]

OPEC’s share of Indian oilimports fell in 2021 to the lowest in more than a decade despite a 4% rebound in annual crude purchases by the world’s third biggest oil importer, data obtained from industry sources showed. Members of the Organization of the Petroleum Exporting Countries (OPEC), mainly from the Middle East and Africa, saw their share of the pie […]

Crisil sees more organic consolidation The pandemic’s third wave could shave off 100-200 basis points (bps) from asset growth at Housing Finance Companies (HFCs), Crisil said in a report. “The third wave of the COVID-19 pandemic could slash as much as 200 bps off … [the] base case estimate of 9-11% compound annual growth rate (CAGR) in the assets under […]