- Force Motors signs deal with Daimler
- Jet Airways to merge low-cost brands soon
- Religare Capital buys South African firm
- Lupin in R& D pact with Medicis
Force Motors signs deal with Daimler
Pune based Force Motors Ltd has signed a technology licence agreement with Daimler AG for a multipurpose vehicle (MPV), the company said in a statement.
The technology will facilitate the entry of Force Motors into the passenger and goods vehicles segment, it said. The deal was signed on Monday.
Daimler has earlier licensed the technology for a 2.2litre engine to Force Motors for powering its Traveller range of light commercial vehicles.
Jet Airways to merge low-cost brands soon
Jet Airways (India) Ltd on Monday said it will soon have only one low cost brand and that a decision on the merger of its present two low cost subsidiaries—Jet Lite and Jet Konnect-- will be taken soon.
“We are still in the process of discussing whether there is a need to merge Jet Lite and Jet Konnect, but we are very clear that there will be only one brand in the low fare arena and that is something which will emerge very clearly in the next one or two months”, Jet Airways group vice president for commercial strategy and investor relations K.G. Vishwanath said.
Religare Capital buys South African firm
Religare Capital Markets Ltd (RCML), the investment banking and institutional equities arm of financial services group, Religare Enterprises Ltd, has acquired a controlling stake in Noah Financial Innovation (Pty) Ltd, a South African based research services provider, the company said.
Martin Newson, chief executive, RCML said: “RCML sees it...as an integral part of our emerging markets investment banking platform, both in its own right and as a beachhead for our wider Africa banking ambitions.“
Through the acquisition of Noah, RCML has added 20 people to its team of over 300 people across nine countries. `Mint' had reported on 23 June, its plan to acquire brokerages in South Africa and Nigeria, and the company's strategy to gain access to institutions and then “sell“ deals.
Lupin in R& D pact with Medicis
Drug maker Lupin Ltd on Monday said it has entered a research and development (R&D) agreement with US based Medicis Pharmaceutical Corp. to apply Lupin's formulation technologies to multiple therapeutic compounds.
Under the terms of the agreement, Lupin will receive a $20 million (`88.8 crore) upfront payment from Medicis and will be primarily responsible for formulating certain novel therapeutic products for the company.
Medicis will have global exclusive rights, except, for the products developed under the agreement. Lupin will be eligible for future research, development, regulatory and other milestones of up to $38 million, as well as single digit royalty on sales of these drugs by Medicis.
(Source-: mintlive.com)