Acquisitions & Mergers

News: Most Important

1. Reliance Jio-backed Haptik acquires conversational commerce platform Buzzo.ai

AI chatbot company Haptik, a subsidiary of Mukesh Ambani-led Reliance Industries Ltd, acquired Buzzo.ai, a Mumbai-based conversational commerce start-up. It is a platform to create an expert advisor-like conversational shopping experience in retail or e-commerce.

2. Facebook Inc bought New York-based CTRL-labs

Facebook Inc bought New York-based CTRL-labs in a deal valued around $1 billion. CTRL-labs is a start-up that is exploring ways for people to communicate with computers using brain signals. It will join in the Facebook Reality Labs team.

3. Reliance Capital completes 21.5% stake sale in Japan’s Nippon Life

Reliance Capital Ltd completed sale of its 21.54% stake in Reliance Nippon Life

Asset Management Ltd (RNAM) to Nippon Life Insurance of Japan for ₹3,030 crore. It will further monetise its balance 4.28% stake in RNAM.

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News: Others
1. IDBI Bank to divest stake in insurance joint venture

IDBI Bank announced the plan to sell its stake in its insurance joint venture IDBI Federal Life Insurance Co, while JP Morgan India has been mandated to manage the process for the same. IDBI Bank owns 48% of the insurance company.

2. APTEL approves acquisition of Prayagraj power project by Tata Power JV

According to Tata Power, apex power tribunal APTEL has approved acquisition of 75 per cent stake in stressed 1,980 MW Prayagraj power project by its joint venture’s arm Renascent Power Ventures.

3. NCLT approves JSW Steel’s Rs 19,700 crore bid for Bhushan Power & Steel

Principal Bench of the National Company Law Tribunal approved JSW Steel’s Rs 19,700 cr bid for Bhushan Power & Steel. Bhushan Power owes close to Rs 50000 cr to a consortium of lenders led by Punjab National Bank.

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