India commences first-ever three-way bank amalgamation process

By Accommodation Times Bureau NEW DELHI The Union Finance Minister Arun Jaitley and Cabinet Ministers, Piyush Goyal and Nirmala Sitharaman on September 17 decided that Bank of Baroda, Vijaya Bank and Dena Bank may consider amalgamation of the three banks. According to the Ministry of Finance, ‘The envisaged amalgamation will be the First-ever

Suraksha-Dosti to acquire Jaypee Infratech Ltd for over Rs 7,300 Cr

By Accommodation Times Bureau NEW DELHI Suraksha Asset Reconstruction Company and Mumbai-based Dosti Realty are set to acquire a Noida based firm Jaypee Infratech with a bid of 7,350 crores. An insolvency-hit company, Jaypee Infratech that has to deliver around 25,000 houses in Noida. “The Joint Venture has surpassed other leading competitor by a

Acquisition of HPCL by ONGC

By Accommodation Times Bureau NEW DELHI Dharmendra Pradhan, Minister of Petroleum & Natural Gas and Skill Development and Entrepreneurship, on Monday, briefed about the acquisition of Hindustan Petroleum Corp. Ltd (HPCL) by Oil and Natural Gas Corp. Ltd (ONGC). Pradhan informed that “The Government of India entered into an agreement with ONGC on

Shree Cement acquires majority of stake in UAE’s Union Cement for $305 million

By Accommodation Times Bureau MUMBAI Shree Cement’s board approved the acquisition of majority stake in Union Cement Company a UAE-based company for $305.24 million on Thursday, the company said. "Our board has approved the acquisition of a minimum of 92.83 percent of beneficial shareholding in Union Cement for an enterprise value of USD