COMMODITIES

Indian Oil, GAIL to pick up 49% stake in Adani’s Dhamra LNG terminal

September 20, 2016 | PTI

State-owned refiner Indian Oil Corporation (IOC) and gas utility GAIL India Ltd will tomorrow sign a pact to take 49 per cent stake in Adani Group's Rs 5,000-crore Dhamra LNG project in Odisha.

BP sells 8.5% stake in Castrol India

September 20, 2016 | TEAM VCC

London-headquartered energy giant BP Plc has sold 8.5% stake in public-listed lubricants arm Castrol India Ltd for Rs 1,824 crore ($270 million) on Tuesday. The deal brings down BP’s stake in the Indian unit to 51%.

Adani Ports to acquire Australia’s Abbot Point Bulkcoal for $14.5 mn

September 20, 2016 | PTI

Adani Ports and Special Economic Zone (APSEZ) today said its arm APO has inked a pact to acquire Australian firm APB, which operates and maintains Abbot Point Coal Terminal in Queensland, for an estimated AUD 19.25 million (about Rs 97.5 crore).

ONGC Videsh buys 11% more in Rosneft’s Vankor field for $930 mn

September 15, 2016 | PTI

ONGC Videsh Ltd today signed an agreement to raise stake in Russia's Vankor oil field by 11 per cent to 26 per cent for about USD 930 million.

Edelweiss Financial Services may sell agri unit to Inditrade Capital

September 15, 2016 | Bruhadeeswaran R

Mumbai-based Edelweiss Financial Services is engaged in talks with south-based Inditrade Capital to sell its agri commodity business Edelweiss Agri Value Chain Ltd (EAVCL).

Sicagen to acquire Danish Steel Cluster

September 12, 2016 | Ranjani Raghavan

Sicagen India Ltd, a Chennai-based construction and industrial products company, has agreed to acquire Bengaluru-based Danish Steel Cluster Pvt. Ltd to expand its manufacturing abilities.

Vini Cosmetics’ promoter Darshan Patel, Nikhil Vora back Uniply to buy Vector Projects

September 08, 2016 | Debjyoti Roy

Plywood maker Uniply Industries Ltd is raising Rs 26.4 crore from a bunch of individual investors including Darshan Patel and Nikhil Vora to bankroll a cash and stock deal to acquire architectural design firm Vector Projects (I) Pvt. Ltd.

Uniply to acquire design firm Vector Projects for $9.5 mn

September 01, 2016 | TEAM VCC

Plywood maker Uniply Industries Ltd said on Thursday it has agreed to acquire architectural design firm Vector Projects (I) Pvt. Ltd for Rs 64.12 crore ($9.5 million) in a cash-and-stock deal.

Exclusive: Jindal Steel & Power hires adviser for foreign loan recast

August 23, 2016 | Bruhadeeswaran R

Jindal Steel & Power Ltd (JSPL) has hired an India-based distressed asset advisory firm for the possible restructuring of loans worth $550 million and to consider sale of the cash-positive assets, said a person privy to the development. 

China's Tidfore to invest up to $150 mn in Miglanis' owned Uttam Galva Metallics

August 19, 2016 | PTI

Uttam Group today said it has signed an investment agreement of up to USD 150 million with Chinese firm Tidfore Heavy Equipment Group Co Limited.

The investment will be in the form of equity for Uttam Groups Wardha Expansion Project undertaken in conjunction with POSCO.

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