SGE (Sony Global Education​) forays into education segment
MakeMyTrip is all set to acquire IBIBO Group :
1. MakeMyTrip an leading Indian travel portal will acquire Ibibo group, as announced on 18 October 2016.
2. South African investment firm Naspers and Chinese Internet giant Tencent hold 90% stake in Ibibo though companies did not disclose the deal size, but sources and industry experts pegged it at $400-$450 million, making it the biggest acquisition in this space.
3. The acquisition creates a one-stop shop for Indian travellers, as it brings together leading consumer travel brands, including MakeMyTrip, Goibibo, RedBus, Ryde and Rightstay.
4. Ibibo had acquired online bus aggregator RedBus for about $110 million in 2014.
Lendingkart Acquires KountMoney
1. In an another consolidation, Fintech startup Lendingkart has acquihired KountMoney, an online lending marketplace for personal loans.
2. The move will enable Lendingkart Group to boost its technology and data analytics capabilities.
Nokia Bags $230 mn 4G Network Deal :
1. Nokia has bagged a $230-million 4G network deal from Bharti Airtel in nine telecom service areas.
2. The new agreement will help Airtel to expand the deployment of 4G technology in three new circles in addition to six circles it already serves.
3. The objective of the network expansion is to provide the capacity, coverage & speed the company needs to meet the next wave of data demand in India.
Tata, GE to Train 10,000 in Healthcare
1. Tata Trusts and GE Healthcare have entered into an agreement to train 10,000 youth in various technical areas of the healthcare sector in three years.
2. The agreemnt is made with aim at bridging demand-supply gap in the sector; candidates to pay back on landing jobs.
FirstCry to Acquire BabyOye
1> Online baby products seller FirstCry is acquiring offline retailer Mahindra BabyOye for Rs 362.1 crore in a primarily stock deal and Mahindra’s will get a minority stake in FirstCry as part of the transaction.
2> FirstCry has now been valued at Rs 2,000-2,330 crore. FirstCry owner Brainbees Solutions will issue shares worth Rs 354.6 crore to Mahindra Group & pay Rs 7.5 crore in cash .
Cipla has signed a memorandum of agreement for South Africa’s first biosimilars :
1> Indian pharmaceutical major Cipla has signed a memorandum of agreement for South Africa’s first biosimilars manufacturing facility to be set up at a cost of nearly USD 91 million.
2> The agreement with KwaZulu-Natal Dube Trade Port Special Economic Zone for Cipla BIOTEC’s new facility was concluded on the margins of BRICS Summit in Goa.
On 15 October 2016, the biggest foreign acquisition ever in India, Russian oil major - Rosneft, along with a consortium, agreed to acquire 98% stake in which Indian oil company : Essar Oil
From October 16, Air India will give its passengers the option of flying Delhi-San Francisco non-stop flight over the Pacific Ocean on its way from India reaching the western coast of USA and returning through the North Atlantic airspace to Delhi again non-stop in about how many hours. Thus the step will proved to be saving in time on the flight will translate into a saving of about 7,000 litres of fuel in each direction, and several crores of rupees : 32 hours
Which Indian telecom company has agreed to sell a 51 per cent stake in its nationwide tower assets to Canada’s Brookfield Infrastructure Group. As per the agreement, the telco will receive an upfront cash payment of Rs 11,000 crore from the proposed transaction. As part of the deal, the specified assets would be transferred into a separate SPV, to be owned by Brookfield : Reliance Communications Ltd. (RCom)
