M&A Wrap up: Binani Industries buys Belgian fibre glass firm

• Binani buys Belgian fibre glass

Binani Industries has acquired 3B a Belgian fibre glass company for 275 million, making it the third such global acquisition of the group in the last six years. Earlier last year the group had acquired the US based composite maker CPI Inc. According to a report in the Business Standard, it has acquired the entire equity interest in 3B from private equity investor – Platinum Equity. 3B is a leading manufacture of fibre glass for reinforcement of thermoplastic and thermoset polymer applications and is a preferred supplier to global leaders in industries which includes automotive and wind energy. This acquisition helps Binani get access to the large diversified customer base of the acquired company. Such news obviously caught investors interest as the stock gained 10.2 percent in the last two trading sessions.

[caption id=“attachment_203720” align=“alignleft” width=“380” caption=“Binani Group logo. Image courtesy Binani Group”]  [/caption]

• Persistent Systems acquires Openwave’s location biz

The Pune based Persistent System has acquired the ‘Location’ business from Openwave Systems, a Californian mobile Internet software solutions company for an undisclosed sum.

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While there are no specific details about the same, the product called Location Manager is available in two editions, as per an article in Vccircle. For Persistent, this acquisition is just another one that helps it in its growth momentum “This acquisition builds on Persistent’s momentum in growing product maintenance and support services” said Hari Haran, President, Persistent System, in the press release to BSE. In the past the company also acquired France based Agilent Technologies and Nagpur based Infospectrum India Pvt Ltd.

• Fortis Healthcare arm acquires 85% stake in RadLink-Asia

Fortis Healthcare has acquired an 85 percent stake in Singapore based diagnostic chainRadLink Asia for USD 62.9 million or Rs250 crore, reported Hindu Businessline. The company had done the acquisition through Fortis Healthcare International, a 100 percent unit of the company. This acquisition helps the company have a strong foothold in the premium diagnostic and molecular imaging segment in one of South East Asia’s most attractive markets, said the company in a notification to the exchange. The company had also recently announced the acquisition of a 65 percent stake in Hoan My Medical Corporation, one of Vietnam’s largest private health care providers.

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• Walt Disney completes UTV buy

Walt Disney has completed the acquisition of UTV by buying out the stake of Rohinton Screwvala, Unilazer and Unilazer HK. According to a report in Bloomberg-UTV article, the company has acquired the Indian media group for $454 million. According to a filing to the BSE, it said that Walt Disney would start the process to delist shares from the exchange post 6 February. The exit price has been fixed at Rs 1,100 per share for share holders as part of its complete acquisition by Walt Disney. The stock ended the day at Rs1,601 per share, lower by 0.57 percent from its previous day close.

•Aajaneya Lifecare acquires Apex Drugs for Rs250 crore

Aajaneya Lifecare has acquired Hyderabad based Apex Drugs and Intermediates for Rs250 crore. As per the company’s press release, it has acquired the assets, businesses, clients, licensees and employees of Apex Drugs and Intermediates (ADIL) and has merged both the companies’ operations, becoming a fully integrated formulation company. The company will also leverage the strong relations of ADIL developed in Asia, Europe, UAE & Latin America for exports, Aanjaneya Lifecare said in a statement. The acquisition also gives Aanjaneya an entry in Hyderabad market.

Reacting to announcement of the acquisition, Aanjaneya Lifecare’s scrip shot up by 3.59 percent to Rs557.8 per share.