Acquisition Current Affairs - 2020

Hero Cycles acquires leading UK-based Avocet Sports

World’s largest bicycle manufacturer Hero Cycles acquired majority stake in UK-based Avocet Sports for an undisclosed amount. It is the first overseas acquisition of Hero Cycle with an aim to enter into high-end bicycle market in Europe. Manchester-based Avocet is among top three players in bicycles, e-bikes, bicycle parts and accessories in the UK and with Hero Read More…

Mallinckrodt Pharma acquires Therakos for USD 1.3 billion from Gores Group

Mallinckrodt, a leader in biopharmaceutical has signed an agreement to buy a leading immunotherapy company Therakos Inc, from the global investment firm, Gores Group for approximately 1.325 billion US dollars. Significance of Therakos Acquisition: Therakos Inc is a US based global leader in autologous immune cell therapy delivered through extracorporeal photopheresis (ECP) that focuses to harness the power of Read More…

Russia’s Rosneft to acquire 49% stake in Essar Oil

The Russia’s state owned Oil Company Rosneft signed strategic agreement with Shashi Ruia’s Essar Oil to acquire its 49 per cent. The two companies have also agreed exploration and production of hydrocarbon in concurrence. As per the agreement Rosneft will get a stake in 1,600 retail chain stations of Essar Oil and has planned to Read More…

IndusInd Bank acquires RBS’ bullion financing business for Rs 4,100 crore

IndusInd Bank has acquired the diamond and jewellery (bullion) financing business and related deposit portfolio of Royal Bank of Scotland (RBS) for 4,100 crore rupees on 28 July 2015. Britain’s largest public bank Royal Bank of Scotland (RBS) was in talks with IndusInd Bank to sell off its bullion financing business and had signed a non-binding agreement in April Read More…

Hero Motocorp to buy assets of bankrupt US Company

India’s largest two-wheeler manufacturer Hero Motocorp’s wholly owned subsidiaries in U.S is to buy certain tangible and intangible assets worth of USD 2.8 million of U.S based Erik Buell Racing (EBR). This purchase is a part of the settlement deal with court-appointed receiver in the bankruptcy matter. The two subsidiaries Hero Moto Corp Ltd (HMCL) Americas, Read More…