· Birla group, Yanzhpou eye Whitehaven bids
· Publicis to acquire stake in Watermejon
· Jyothy Lab acquires Diamond Fabcare
Birla group, Yanzhpou eye Whitehaven bids
China's Yanzhou Coal Mining Co and India's Aditya Birla group are among parties preparing to submit second round bids for Australian coal miner Whitehaven Coal Ltd which is seeking offers of more than $3.5 billion (`15,750 crore), officials close to the matter said on Tuesday.
Whitehaven said in February it had selected a short list of bidders to complete due diligence in a process expected to continue for “a number of months“.
Birla was looking at bidding for Whitehaven alone, one of the officials said, although there had been efforts to encourage a number of Indian firms to bid as a consortium. Another official denied media reports that Gujarat NRE Coke was also looking.
Publicis to acquire stake in Watermejon
Advertising conglomerate Publicis Groupe SA announced that it has agreed to acquire a majority stake in the Mumbai based advertising agency Watermelon Healthcare Communications Pvt. Ltd. Once the transaction is completed, the entity will become part of Publicis Healthcare Communications Group and will be renamed Publicis Life Brands Watermelon. The transaction is subject to regulatory clearances. Abhijit Shitut and Kiran Pai, who founded Watermelon in 2003, will be named joint managing directors at the new firm. Shitut said that although the size of the deal was significant, they could not disclose the details given the sensitivity of the matter for both the parties.
Jyothy Lab acquires Diamond Fabcare
Jyothy Laboratories Ltd on Tuesday said its subsidiary has fully acquired Delhi
Jyothy Fabricare Services Ltd, a subsidiary of Jyothy Laboratories, has acquired a 100% stake in DFPL, the company said in a statement. The acquisition comes within a week of Jyothy Laboratories acquiring a 14.9% stake in Henkel India Ltd for `60.73 crore.