UST buys majority stake in Audi's Italdesign
UST has bought a majority stake in the Italian design house Italdesign from Audi. Neither party disclosed the consideration, the size of the stake or what Audi retains.
Merger & Acquisitions
Deals (based on specific industry, can recategorise)
Jubilant Ingrevia pays INR 189 crore for 40% of electronics maker Zettaone
The specialty chemicals company is buying into electronics manufacturing, valuing Zettaone at about INR 473 crore on the stake purchased. Neither side disclosed Zettaone's revenue, so the multiple paid is unknown.
Amplifon quits India
The world's largest hearing care retailer has left India. Its own disclosure shows the business it sold to Hearzap turned over about €12 million and dragged on group profits. Neither side disclosed the price.
Texmaco brings in US-based TrinityRail to scale railcar leasing in India
Texmaco Rail & Engineering, TrinityRail and Touax plan to invest about INR 1,800 crore in 100 new rakes over the next three to five years
Lumax Auto to Acquire Remaining Stake
Lumax Auto Technologies Limited (“LATL”) has signed an agreement to acquire the remaining 25% stake in IAC International Automotive India Private Limited (“IAC India”) from the International Automotive Components Group (“IAC Group”). IAC Group will continue to support IAC India through a technology support agreement.
IAC India is a well-
KPIT acquires Caresoft Global Engineering Solutions Business
KPIT Technologies Ltd. announced the acquisition of Caresoft Global’s Engineering Solutions Business.
Caresoft Global will restructure its business into three business units: 1. Benchmarking, Technology Optimization & Cost Reduction Engineering, 2. Engineering Talent Solutions and 3. Engineering Solutions.
KPIT will acquire the carved-out Caresoft Global’s Engineering Solutions