Popular Articles

UTV to consolidate motion pix biz; to buy 23.18% in UK arm
Media and entertainment firm UTV Software today said it plans to acquire the remaining 23.18 stake in its UK subsidiary UMP Plc in a move to consolidate its motion picture business and enhance shareholders value.

UAE's crude production could rise 12.5% by 2014
The United Arab Emirate"s average sustainable crude oil production capacity is set to increase by 12.5 per cent to 3.06 million barrels per day (bpd) by 2014, the International Energy Agency (IEA) has estimated.

News of the day

Andhra to form JV to explore gas reserves
The board of directors of Andhra Pradesh Industrial Infrastructure Corporation (APIIC) on Tuesday approved the proposal to create a joint venture company with APGenco. APIIC would have a majority 51 per cent equity share and APGenco the remaining 49 per cent.
Corporate

Shree Renuka Sugars jumps 4%

The stock jumped 4.24 per cent to Rs 227.65 to an all-time high, after the company acquired Vale Do Ivai SA (VDI), a Brazil-based sugar and ethanol firm. The acquisition includes two sugar and ethanol production facilities with a combined cane crushing capacity of 3.1 million tonnes per annum. - Shree Renuka at new 52-wk high on overseas acquisition - Renuka Sugars acquires Brazil firm for Rs 1,112 cr - Shri Renuka Sugars acquires Brazilian VDI - Crucial support at 4,950 - Shree Renuka seeks Brazilian sugar mills for supplies - Shree Renuka Sugars surrenders trading membership in NCDEX The enterprise value of VDI is $240 million. The company will acquire 100 per cent stake in VDI for $82 million and the balance is the assumed debt, which is to be paid over eight years.


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