Monthly Current Affairs September 2016 “ACQUISITIONS & MERGERS” key points to Remember.
Infosys entered into a joint venture with the Saudi Prerogative Company to offer IT services in the middle eastern country.The investment in the Joint Venture will be a little over $300,000 in the equity
share capital of the proposed joint venture company, Infosys.
Intel has acquired California based Movidius, a computer vison firm that has worked with DJI, Google and Lenovo to give 3D vision to devices.
The Cabinet gave its nod to a consortium of IOC, Oil India and BPCL buying stakes in two Russian
oilfields for a total of USD 3.14 billion.
HP Inc. agreed to buy Samsung Electronics Company’s printer business for $1.05 billion. This
transaction is expected to close within 12 months.
Online payments service provider, PayU owned by South Africa’s Naspers Group has agreed to buy
Mumbai based rival Citrus Pay for $130 million (Rs 865 crore).
The Defence Acquisition Council (DAC) has cleared proposals worth 1,900 crorerupees(close to $3
billion). All these approved proposals would be executed under ‘Buy India’ by Indian contractors .
Aircel to be Merged with Reliance Communications to create the country’s 4th-biggest mobile phone
operator. The merged entity will also rope in a third partner by diluting about 25% equity to raise
around Rs 6,000 crore.
Quikr has acquired the largest and highest quality players in beauty services Staygandfor
an undisclosed sum announced on September 13,2016. It was the Quikr’s 8thacquisition in 2016.
German based chemical company Bayer announced to acquire the U.S basedMonsanto for $66 billion
including debt. The deal will be the largest ever involving a German buyer, beating Daimler’s tie-up
with Chrysler in 1998
Ashok Leyland Board has approved a proposal to merge Hinduja Foundries Ltd (HFL)with itself. HFL
has an accumulated loss of about Rs.1,100 crore and debt of Rs.512 crore.
Adani Ports and Special Economic Zone (APSEZ) arm APO acquire the Australian firm APB from
Glencore Coal Queensland Pty Limited for AUD 19.25 million
Apple has bought Hyderabad-based machine learning and big data start-up Tuplejump. This is the
Apple’s first acquisition in India and fourth machine learning acquisition in a year