French alcoholic beverages company Remy Cointreau looks to form a partnership with India's largest winemaker Nashik Vintners Pvt. Ltd. Remy and Nashik Vintners are expected to launch an India-specific brand through the joint venture.
Deals
BlackRock raises stake in Telecom Italia to 10%
New York-based money manager BlackRock Inc. increased its stake in Telecom Italia to 10%, becoming its second-largest shareholder. This could potentially tip the balance at a shareholder meeting set to vote on the proposed ouster of Telecom Italia's board, according to a Reuters report.
German trust RAG to cut stake in Evonik Industries to over 25%
RAG Foundation chief Werner Mueller said the state-owned trust looks to reduce its stake in German chemicals and plastics manufacturer Evonik Industries to about 25%. RAG currently owns two thirds of Evonik.
Malaysia Airports eyes GMR Infrastructure's stake in Istanbul airport
Indian airport developer GMR Infrastructure has put up for sale its stake in Istanbul airport Sabiha Gokcen International Airport. Malaysia Airports Holdings, which already owns a 20% stake in the Turkish airport, is looking to buy GMR's 40% holding.
Multinational companies line up to hike stakes in Indian subsidiaries -India Times
The Reserve Bank of India recently announced that multinational companies can hike their stakes in Indian arms without its approval. Many MNCs are now looking to increase their stakes, go for a merger or de-list their local units.
Latest News
Facebook chief financial officer David Ebersman early this week sold 532,400 shares in the social networking company at an average price of $50 per share. Ebersman reportedly raised $26.2 million in the deal.
The merger of US Foods with Sysco has spoiled the plans for a $62 million US Foods expansion project in Seabrook, New Hampshire, a report said.
Google Inc. on Friday announced that it had completed the purchase of engineering and robotics company Boston Dynamics. Boston Dynamics is the eight robotics firm that the Internet giant has acquired in the last half-year.
Honeywell International Inc.'s board of directors has approved the buyback of as much as $5 billion in stock. The American conglomerate has 784.7 million shares outstanding and a market value of $67.7 billion.
Coca-Cola Co's decision to split its bottling division and franchising unit had elicited mixed reactions from analysts and the financial markets. Coca-Cola Co reasoned that it intends to go back to its traditional franchising model after the separation has been completed.
Hospitality Staffing Solutions said it had obtained approval from the court to sell its assets to HS Solutions Corporation. Financial details about the deal were not disclosed.
Intel Corp., the world's largest chipmaker, has put up for sale its Internet-based pay-TV startup OnCue. Telecom company Verizon Communications Inc. is said to be nearing a deal to acquire OnCue.
Energy firm American Energy Capital Partners will go public to raise $2 billion in funds that will enable it to acquire and drill oil and gas assets in the United States. AECP is managed by a firm created by ex-Chesapeake Energy Corp. chief executive officer Aubrey McClendon.
A Wall Street Journal report about a possible bid from rival Sprint Corp spurred the rise of T-Mobile shares, the largest increase since October 2012, Bloomberg reported.
