Tuesday, May 19, 2009

Corporate News

Private equity giant Kohlberg Kravis Roberts and Diageo likely to acquire 10% & 14.99%, respectively in United Sprits. (ET)

Amtek Auto has entered into Rs1bn JV (50:50) with Sumitomo Metals, which is part of Sumitomo Corporation of Japan. (ET)

Apollo Tyres has acquired Dutch tyre maker Vredestein Banden for an undisclosed sum. (ET)

Madras HC allows TVS to use Bajaj's patented technology. (BS)

The Tiruchirappalli unit of BHEL has asked its subcontractors to increase their capacity to 50% from the current 32% in order to achieve a turnover of Rs100bn for FY10. (BS)

Indiabulls Real Estate plans to raise US$600mn through qualified institutional placement of equity shares. (ET)

ONGC to float new tender for cancelled rig contract. (BS)

M&M workers call off a 15-day-long 'tool down' strike at Satpur plant in Nashik. (ET)

Maytas Infra wants IL&FS to increase its stake in the Hyderabad Metro Rail Project. (FE)

Coal India board has cleared the draft agreement for the proposed fuel supply agreement with NTPC and other power utilities. (FE)

KS Oils plans to raise Rs4.5bn from a PE companies and promoters. (ET)

Aditya Birla Nuvo will allot 18.5mn convertible warrants to its promoters for Rs10bn. (ET)

MRF has declared lockout at its Arakonam plant in Tamil Nadu, effective from May 17, 2009. (FE)

Tata Motors will give performance-linked wage hikes to its employees in FY10. (BL)

The Switzerland based Oetiker Group, a supplier of clamps for Tata Nano has set up a unit in Patalganga near Mumbai. (FE)

Source: Indiainfoline.com

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