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Torrent reaches deal to acquire majority stake in IPL franchise Gujarat Titans
Ahmedabad-based Torrent Group is set to acquire a majority stake in the IPL franchise Gujarat Titans from CVC Capital Partners after the ownership lock-in period ends in February 2025. The Adani Group, initially interested, has stepped back due to the high valuation of over $1 billion and focus on core businesses.
Ex-CIA agent who spied for China gets 10 years jail in US
A former CIA officer, Alexander Yuk Ching Ma, has been sentenced to 10 years in prison for spying for China. Ma, who worked for the CIA from 1982 to 1989, admitted to selling US secrets to Chinese intelligence officers. He also collaborated with a relative who had previously worked for the CIA. Ma must now cooperate with US authorities for life.
'Work-life balance is a farce': What Infosys founder, Elon Musk and other billionaires believe on husstle culture
The article explores the differing views on work-life balance and hustle culture among prominent billionaires and tech leaders. Figures like NR Narayana Murthy, Elon Musk, Jack Ma, Jeff Bezos, and Alexis Ohanian share their perspectives on long work hours, dedication, and the importance of balancing personal well-being with professional success.
A billionaire farmer fights his jailing as tycoons face crackdown in China
Chinese billionaire Sun Dawu, serving an 18-year sentence for corruption, warns that his company's collapse could impact over ten thousand employees. His case highlights President Xi Jinping's crackdown on influential tycoons seen as threats to Communist Party control. The appeal remains unheard, while his company faces new management.
MCA notifies deal value threshold, other changes in M&A regime
The government has mandated that companies must seek approval from the Competition Commission of India (CCI) for mergers and acquisitions exceeding Rs 2,000 crore if the target has substantial business operations in India. This move aims to better regulate M&A activities, especially in the digital sector, ensuring fair business practices.
Indian billionaire Yusuf Ali gifts fan Rs 2 lk Rado watch, admirers call him ‘the real deal’
MA Yusuff Ali, Chairman of Lulu Group, is a businessman who enjoys a large fan following. Recently, the Indian billionaire met with some of his admirers, including social media influencer Effin M. Effin shared a video on Instagram, capturing the moment he embraced the business magnate. After receiving a luxurious Rado watch valued at Rs 2 lakh from Ali, Effin felt compelled to reciprocate but struggled to choose a fitting gift for a billionaire. Ultimately, he decided to present Ali with a watch featuring a portrait of his late mother.
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DTC and staples snapped up, FMCG cos are gunning for snacks now
The Indian FMCG sector is witnessing a surge in mergers and acquisitions, with Britannia reportedly in talks to acquire Kishlay Foods. This trend follows previous acquisitions of DTC startups, spice makers, and now snack companies. Major players like ITC, Dabur, and Tata Consumer Products are leading the charge, driven by competitive intensity and limited organic growth opportunities.
As M&A scene hots up, India Inc strengthens in-house legal teams
Large Indian conglomerates are strengthening their in-house legal teams with M&A specialists due to a surge in local and cross-border deals. Companies like Reliance Industries, Cipla, and Aditya Birla Group are hiring experienced lawyers to reduce reliance on external counsel and enhance transaction efficiency.
Black Box looking for partnerships, M&A in India market
Black Box, a digital infrastructure firm, is looking for partnerships or mergers and acquisitions to enter India, Sanjeev Verma, a wholetime director of the Essar Group subsidiary said. The company is aiming to achieve $2 billion in revenue in the next four years.
Intel exploring division split, M&A to cope with historic slump
Morgan Stanley and Goldman Sachs Group Inc., Intel’s longtime bankers, have been providing advice on the possibilities, which could also include potential M&A, the people said. The discussions have only grown more urgent since the Santa Clara, California-based company delivered a grim earnings report, which sent the shares plunging to their lowest level since 2013.
Bikaji acquires 55% stake in Ujjain-based Ariba Foods
Bikaji Foods International announced it has acquired a 55% stake in Ariba Foods for Rs 60.49 crore, aiming to enhance its frozen food production and enter the QSR segment. The acquisition is expected to bolster Bikaji’s export capabilities. Ariba produces snacks and frozen foods like samosas and parathas under the 'InDine' brand.
Global M&A transaction value rises in first half of 2024 despite fewer deals: S&P Report
Global M&A activity increased in total transaction value by 11.7% to USD 1.221 trillion in the first half of 2024, despite a 12.9% decline in deal volumes. A notable rise in USD 10 billion-plus transactions outside the U.S. contributed to this growth. Europe's M&A activity also showed significant gains, bolstering the overall increase.
CVC pips EQT, set to buy Aavas for Rs 7k crore
CVC and EQT were the final contenders after Bain Capital decided to take a backseat. ET had been first to report on July 28 that EQT, CVC and Bain were the last in the fray, as private equity investors look to consolidate their position in the fast-growing sector. Kedaara and Partners together hold 26.47% of Aavas, with the former owning slightly more than the latter. Their exit will trigger an open offer for the acquisition of an additional 26% from public shareholders and result in a change in control.
MaXXXine: When and where to watch the movie on streaming
MaXXXine continues the story that began with the 2022 film X and its prequel, Pearl. The film features Mia Goth reprising her role as Maxine Minx, an aspiring adult film star from the 1980s who faces the challenges of newfound fame while confronting the terror of a serial killer targeting Hollywood stars.
Sydney-headquartered Atlassian will pursue M&A as a growth model: CEO
Atlassian acquired video messaging startup Loom late last year from Indian origin duo Vinay Hiremath and Shahed Khan. Company's global CEO CEO Mike Cannon-Brookes told ET, “Atlassian has a long history of acquiring companies and growing them into products and businesses." He added, "40% of the product portfolio came from acquisitions and the rest came from internal product creation.”
MaXXXine on streaming: Is the Mia Goth starrer available on OTT?
Maxine Minx is back, this time ready to conquer America's most fame-obsessed city: Los Angeles. "MaXXXine," the third and final installment of Ti West's critically acclaimed trilogy, unfolds in the glamorous yet perilous world of 1980s Hollywood.
Unsung heroes: BCCI secretary Jay Shah announces cash rewards for IPL's groundsmen and curators
BCCI Secretary Jay Shah praised unsung heroes, groundsmen, and curators of IPL venues for providing brilliant pitches. Each will receive Rs 25 lakh as appreciation. Kolkata Knight Riders won the IPL, setting high-scoring match records. Shah also congratulated KKR and thanked fans for a successful season.
"He deserves all the credit": Venkatesh Iyer credits unsung hero for KKR's IPL 2024 title triumph
Venkatesh Iyer credits mentor Gautam Gambhir and assistant coach Abhishek Nayar for KKR's IPL 2024 victory, thanking fans for their support. KKR won their third title by defeating SRH in the final at MA Chidambaram Stadium.
KKR played like invincibles throughout the season: Skipper Shreyas Iyer
Captain Shreyas Iyer praised Mitchell Starc and Andre Russell for their stellar performances, while Pat Cummins admitted Sunrisers Hyderabad was outplayed by Kolkata Knight Riders in the IPL final.
KKR IPL Win: Emotional Shah Rukh Khan shares moment with family after team's third IPL title
Kolkata Knight Riders (KKR) won their third IPL title with a commanding victory over Sunrisers Hyderabad (SRH) at MA Chidambaram Stadium. Co-owner Shah Rukh Khan and his family celebrated the win with tearful hugs and happy smiles, highlighting their steadfast support. Gautam Gambhir’s return as a mentor added nostalgic success. KKR's bowlers restricted SRH to the lowest-ever IPL final score, with Venkatesh Iyer and Rahmanullah Gurbaz ensuring a swift chase. The win at Chepauk marked a historic moment for KKR and their dedicated supporters.
"Old mate turned up again...": Pat Cummins after KKR "outplayed" SRH in final
Pat Cummins admitted Sunrisers Hyderabad failed to score enough runs in IPL final against Kolkata Knight Riders. The KKR bowlers dominated, restricting SRH to 113. KKR chased down the target in 10.3 overs to win their third IPL title.
Astrologer predicts IPL 2024 final winner three days before the game
An astrologer has predicted the potential winners of IPL 2024. With the final set for Sunday, May 26th, at MA Chidambaram Stadium in Chennai, the astrologer has forecasted KKR's favorable astrological signs. While celestial insights offer intrigue, Guruji underscores the pivotal role of players' skills and determination in determining the match's outcome.
KKR vs SRH IPL Final Match: Pitch report, key players, live streaming details and other important details
KKR and SRH will face off in the IPL 2024 championship game at MA Chidambaram Stadium in Chennai. Chepauk is known for its slow pitch favoring spinners and swing bowlers.
IPL 2024 KKR vs SRH Final: Captains Shreyas Iyer and Pat Cummins' beach visit goes viral
The Kolkata Knight Riders and SunRisers Hyderabad are set for an exciting final showdown at the M.A. Chidambaram Stadium. Captains Shreyas Iyer and Pat Cummins visited a beach in Chennai, sharing a fun moment with the IPL trophy, which was posted on Instagram. Fans reacted enthusiastically to the video, which has garnered over 1.2 million views. With Kolkata winning 18 out of 27 past matches against Hyderabad, the final promises to be a thrilling encounter.
Chennai Weather Update: Chances of rains to disrupt the final between KKR vs SRH; Will it be a reserve day?
Unexpected rain cut short Kolkata Knight Riders' final practise session at MA Chidambaram Stadium, reminiscent of the three-day IPL grand decider at Narendra Modi Stadium where Chennai Super Kings won.
Had to wait for my opportunity: SRH batter Rahul Tripathi on his performance in IPL 2024
Sunrisers Hyderabad will lock horns against Kolkata Knight Riders (KKR) in the final match of the IPL 2024 at the MA Chidambaram Stadium on Sunday. Rahul played 5 matches for the Sunrisers in the IPL 2024, scoring 156 runs at a strike rate of 152.94. He hammered 17 fours and 6 sixes in the ongoing season.
Spinners seal Sunrisers Hyderabad's IPL final spot at the expense of Rajasthan Royals
All-rounders Shahbaz Ahmed and Abhishek Sharma registered figures of 3-23 and 2-24 respectively to dismiss the bulk of Rajasthan's batting line-up and take the Sunrisers to the final of the 2024 Indian Premier League, where they will face Kolkata Knight Riders for a second time in the knockouts. Sunrisers Hyderabad took the long route to the final of the cricket tournament after losing to Kolkata Knight Riders in the first qualifier and having to beat Rajasthan, who beat Royal Challengers Bengaluru in the other qualifier, earlier this week.
IPL 2024: SRH vs RR head-to-head, key players, where to watch and pitch report
RR secured their place in Qualifier 2 by defeating Royal Challengers Bangalore in the Eliminator, sealing a four-wicket victory in Ahmedabad. Conversely, SRH endured an eight-wicket loss against KKR in Qualifier 1, also in Ahmedabad. In head-to-head encounters, SRH and RR have clashed 19 times, with RR emerging victorious nine times, while SRH claimed victory on ten occasions.
End of an era? Virat Kohli drops massive hint on MS Dhoni's future
Royal Challengers Bangalore (RCB) star and Indian batting maestro Virat Kohli has hinted at MS Dhoni's potential future plans, suggesting that Saturday's game between the two may be the last time they play together. Kohli highlighted Dhoni's career-long support as an example of his own approach, noting that the 42-year-old has been instrumental in helping him through critical game moments. Since last year's IPL, there has been ongoing speculation about which season might be Dhoni's last in the league.
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