Indian M&A Deals
Sona Oke Gawa acquires precision forging biz of ThyssenKrupp.
Auto ancillary Sona Oke Gawa on Monday said it has acquired the precision forging business of Germany's ThyssenKrupp Group for an undisclosed amount.
The company expects to complete the transaction by the end of this month. ThyssenKrupp's precision forging business contributes €300 million to the German firms' overall sales.
It operates out of four plants globally - three in Germany and one in the US "The precision forging business of the German firm is No. 2 globally and together with Sona Oke Gawa the business be the biggest in the world," Mr Surinder Kapur, Chairman of S ona Group said here.
The acquisition would be funded through a mix of debt and equity, he said. Sona Oke Gawa is a joint venture between India's Sona group and Mitsubishi Corp of Japan. - PTI
Auto ancillary Sona Oke Gawa on Monday said it has acquired the precision forging business of Germany's ThyssenKrupp Group for an undisclosed amount.
The company expects to complete the transaction by the end of this month. ThyssenKrupp's precision forging business contributes €300 million to the German firms' overall sales.
It operates out of four plants globally - three in Germany and one in the US "The precision forging business of the German firm is No. 2 globally and together with Sona Oke Gawa the business be the biggest in the world," Mr Surinder Kapur, Chairman of S ona Group said here.
The acquisition would be funded through a mix of debt and equity, he said. Sona Oke Gawa is a joint venture between India's Sona group and Mitsubishi Corp of Japan. - PTI
It seems Sprint/Nextel are searching for a partner(from speculative Blogs) and Motorola is trying to Dump its Cell phone unit. I cannot see Tata Tel going for either one.SwamyG wrote:In one of the yahoo message boards, somebody mentioned Tata Telecom looking for some acquisitions in USA. As there were no supporting links, I am taking it with a ship load of salt. Maybe somebody is just trying to pump one of the stocks. But anybody hear or read something?
Would it be possible that TataTel might be in talks with Google to support their coming Android platform in Inde. It would give them a big boost considering the gamut of applications planned for Android.
The news is somewhat true, and there were articles in the newswires yesterday. However it is nothing like what you mention.Jay wrote:It seems Sprint/Nextel are searching for a partner(from speculative Blogs) and Motorola is trying to Dump its Cell phone unit. I cannot see Tata Tel going for either one.SwamyG wrote:In one of the yahoo message boards, somebody mentioned Tata Telecom looking for some acquisitions in USA. As there were no supporting links, I am taking it with a ship load of salt. Maybe somebody is just trying to pump one of the stocks. But anybody hear or read something?
Would it be possible that TataTel might be in talks with Google to support their coming Android platform in Inde. It would give them a big boost considering the gamut of applications planned for Android.
Sprint/Nextel etc have valuations that are out of reach of TTSL and in any case India is a much hotter market to invest in than abroad as far as wireless goes. Cell phone manufacturing is a totally different business and TTSL would not get involved in it.
What is happening is that Tata who had in recent years aquired:
-VSNL - India's then only and monopoly international connectivity provider
-Teleglobe- A VSNL type company in Canada with large number of international service providers as clients and lots of expertise
-Tyco - One of the world's largest submarine providers
-Gemplex - IP-VPN specialist based in US
-Primus Indian operations - Had lot of business Internet customers in India
Now, what they are doing is:
-Combining all those into a single entity called Tata Communications limited (distinct but related to, TTSL -Tata Teleservices Limited, which is their Mobile, Landline, Broadband, Domestic connectivity operator)
-According to yesterday's news they have announced that they will spend 2 Billion $ to upgrade and expand their international connectivity and operations.
So rather than acquire a mobile operator or a handset manufacturer, what they are looking at is becoming a major Tier-1 International service provider, taking aim at ATT, Verizon/UUnet, Sprint, NTT etc. They already have a massive submarine infrastructure and plenty of expertise so they are well placed to proceed on that.