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DAILY CORPORATE NEWS
L&T in talks with Blackstone to sell Seawood shopping mall
L&T in talks with Blackstone to sell its Seawood, Navi Mumbai based shopping mall, for Rs 1200-1500 crore.
The asset is being non-core asset for L&T, if the deal happens at a profitable terms, this could be positive for L&T from asset monetization point of view.
Asian Paints shuts operations at Rohtak facility Haryana
Asian Paints operations at its paint manufacturing unit at Rohtak, Haryana, have been shut down from February 19, 2016, due to agitation at IMT, Rohtak.
The unit has manufacturing capacity of 2 lakh kilo litre per annum. The company has not disclosed the quantum of product loss it will suffer due to plant shut down and will do it in due course of time.
Lupin, Gavis to sell two drugs to fulfill US FTC condition
Lupin and Gavis Pharmaceuticals LLC, which the Indian firm announced to acquire in a USD 850 million deal last year, have agreed to divest two generic drugs as part of the US Federal Trade Commission (FTC) requirement to complete the transaction.
The companies have agreed to sell rights and assets for two generic drugs to New Jersey-based G&W Laboratories in order to settle charges that Indian firm's proposed acquisition would likely be anti-competitive.
Government plans 49% FDI in insurance via automatic route
Government plans 49% FDI in insurance via automatic route-Max India, Bajaj Finserv.
Government is considering permitting 49% in FDI through automatic route in the insurance sector to attract more overseas inflows.
Currently, FDI up to 26% is permitted through automatic approval route and for FDI up to 49% FIPB approval is required. According to media sources, the government could announce this decision in the forthcoming Budget.
Cadila gets approval for antibiotic drug Doxycycline
Cadila Healthcare gets approval for antibiotic drug Doxycycline from Ahmedabad SEZ.
