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BRF Arabia Holding Finalizes Investment in Addoha Poultry

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BRF Arabia Holding, a joint venture between BRF and Halal Products Development Company, has successfully concluded its acquisition of a 26% stake in Saudi Arabia’s Addoha Poultry Company. The investment, originally announced in October 2024, solidifies BRF’s footprint in the Middle East and reinforces its commitment to food security in Saudi Arabia, a region where the Brazil-based company has operated for over 50 years. BRF Arabia Holding is 70% owned by BRF and 30% by Halal Products Development Company, a subsidiary of Saudi Arabia’s Public Investment Fund. In a market notice published on January 14, BRF highlighted that this transaction bolsters its strategic role in the Middle Eastern food sector. The investment, valued at SAR316.2 million (US$84.3 million), includes SAR216.2 million directed toward Addoha Poultry, furthering the company’s operational capabilities in Saudi Arabia. BRF, the world’s third-largest poultry producer and 14th-largest feed producer according to the WATTPoultry.com Top Companies Database, continues to enhance its portfolio in the region with its renowned brands, leveraging its expertise in food production and halal certification. This partnership aligns with Saudi Arabia’s vision to strengthen food security and the poultry sector, marking a significant step in fostering collaboration between global and regional leaders in the food industry. Source: wattagnet Photo Credit: wattagnet

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Adani Group Surpasses Mukesh Ambani’s RIL in 2024 M&A Deal Value

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The Adani Group outpaced Mukesh Ambani-led Reliance Industries (RIL) in terms of merger and acquisition (M&A) deal value in 2024. The group secured deals worth $6.32 billion, significantly higher than Reliance Industries’ $3.14 billion, reaffirming its competitive edge in the M&A arena. This marks a reversal from 2023 when Reliance Industries led Indian conglomerates in M&A activity, with deals totaling $8.77 billion, while Adani Group’s deals amounted to just $1.73 billion. Despite the shifting dynamics, the Adani and Ambani groups continue to dominate the M&A landscape, regularly trading the top positions since the onset of the pandemic. Meanwhile, the JSW and Tata groups have also remained active in mergers and acquisitions, focusing on capacity expansion. The collective value of M&A deals by listed entities of India’s top five conglomerates accounted for 15.3% of the total deal value last year, reflecting their significant role in shaping the country’s corporate landscape. This trend highlights the intensifying competition between India’s top industrial giants as they strategically expand their influence through acquisitions. Source: business standard Photo Credit: business standard

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NeueHealth to Be Acquired by NEA Affiliate in $1.3 Billion Deal

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NeueHealth, a leading company in value-based care solutions that connects providers and payers through technology, has entered a definitive merger agreement to be acquired by an affiliate of New Enterprise Associates (NEA). The deal, valued at $1.3 billion, will transition NeueHealth into a privately held company. As part of the agreement, common stockholders of NeueHealth will receive $7.33 per share in cash—a 70% premium over the closing price of the company’s stock as of December 23. Additionally, 12 existing NeueHealth investors, along with NEA, have agreed to rollover agreements, exchanging their existing shares for equity in the newly privatized entity. The company’s current secured loan facility with Hercules Capital will remain intact, ensuring continuity in financial operations. NeueHealth’s executive leadership team will retain their roles post-merger, with the leadership rolling over their equity interests into the private company. Subject to stockholder and regulatory approvals, the merger is anticipated to enhance NeueHealth’s market position while delivering strong returns to its public stockholders. Mike Mikan, President and CEO of NeueHealth, commented on the development: “We are pleased to announce this transaction as we believe it places NeueHealth in a strong position for continued growth while maximizing value for all of NeueHealth’s public stockholders. NEA has been a longstanding strategic partner, and we look forward to continuing to work together to build on NeueHealth’s success as a leader in value-based care.” THE LARGER TREND NeueHealth has made significant strides in recent years. In 2024, it acquired the remaining 25% equity interest in Centrum Health, solidifying its ownership of the value-driven clinic brand. The company also secured a $150 million loan facility from Hercules Capital to bolster its operational priorities. Last year, Bright Health Group adopted NeueHealth as its corporate brand name, emphasizing its focus on value-based care solutions. NeueHealth’s common stock began trading under the ticker symbol NEUE on the NYSE, showcasing its growing prominence in the healthcare sector. This merger with NEA is expected to propel NeueHealth toward further growth and innovation, reinforcing its leadership in value-based care. Source: mobihealthnews Photo Credit: mobihealthnews

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Nirma Group’s Nuvoco Vistas to Acquire Vadraj Cement Through NCLT

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Nuvoco Vistas Corp, a cement subsidiary of the Nirma Group, announced on Monday its successful bid to acquire Vadraj Cement through the corporate insolvency resolution process (CIRP). The acquisition is expected to bolster Nuvoco’s cement capacity by 20%, increasing it from 25 million tonnes per annum (MTPA) to 31 MTPA. The transaction, described by Nuvoco as a “value-buy,” includes Vadraj Cement’s existing infrastructure: a 3.5 MTPA clinker unit in Kutch, a 6 MTPA grinding unit in Surat, and significant limestone reserves. While these facilities are currently non-operational, Nuvoco plans to invest in a phased refurbishment over 15 months to resume production by Q3 FY27, subject to necessary approvals. The resolution plan has already been approved by Vadraj Cement’s committee of creditors, with a Letter of Intent (LoI) issued to Nuvoco. The acquisition will be executed by a wholly-owned subsidiary, without significantly increasing the company’s debt burden, according to Nuvoco. Nuvoco, promoted by Niyogi Enterprise of the Nirma Group, has grown significantly since its 2016 acquisition of Lafarge India’s assets in a $1.4 billion deal. In 2020, it acquired Emami Cement for ₹5,500 crore, further strengthening its position as India’s fifth-largest cement producer by capacity. Vadraj Cement, formerly ABG Cements, was admitted to the National Company Law Tribunal (NCLT) in 2024 due to financial distress, with admitted claims totaling ₹8,180.61 crore. The acquisition aligns with Nuvoco’s strategic growth plans, leveraging cost-effective refurbishment over greenfield expansions to drive efficiency and market competitiveness. Nuvoco expects this move to solidify its presence in the Indian cement market, with enhanced capacities in the East, North, and West regions, positioning it for sustained long-term growth.  

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Global Round-Up: Honda-Nissan Merger, Nvidia’s Latest Acquisition, and More

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The global business and political landscape witnessed key developments as major players made significant moves and events unfolded across industries. Here’s a summary of the most notable stories from December 23 on World Street. Automotive Merger in Sight Honda, Nissan, and Mitsubishi have reportedly begun merger discussions, with an official announcement anticipated soon. According to sources, the talks aim to tackle challenges in the rapidly evolving automotive sector. If finalized, the merger would create the world’s third-largest automaker by vehicle sales, behind Toyota and Volkswagen. The companies are exploring options like forming a joint holding entity to counter competition from Tesla and Chinese automakers. Nvidia’s Acquisition Approved The European Commission has approved Nvidia’s $700 million acquisition of Run:ai, dismissing concerns about its potential impact on the GPU market. The deal allows Nvidia to enhance its capabilities in dividing and processing computing tasks, reaffirming its dominance in artificial intelligence hardware solutions. Media Shake-Up News Corp has finalized the sale of its Australian cable TV unit, Foxtel, to DAZN, a British-owned sports network, for $2 billion, including debt. The move marks a strategic shift for News Corp as it scales down its involvement in traditional media amid the streaming era’s dominance. As part of the deal, News Corp will retain a 6% stake in DAZN and secure a board seat in the global streaming platform. Starbucks Workers Strike Starbucks workers extended their ongoing strike to New York and three other US cities, bringing the total affected locations to 10. The five-day walkout, orchestrated by the union Workers United, disrupted operations during the critical holiday season. Despite Starbucks downplaying the strike’s impact, analysts suggest the action could affect Christmas sales. US Government Shutdown Avoided The US House of Representatives narrowly averted a government shutdown by passing a new funding bill on Friday evening. However, it excluded President-elect Donald Trump’s request for a debt ceiling increase. Tensions ran high after Trump and Elon Musk criticized the initial bipartisan bill. Efforts to introduce a Trump-backed alternative package failed to secure enough support, leaving the House divided. Source: moneycontrol Source: moneycontrol

Global Round-Up: Honda-Nissan Merger, Nvidia’s Latest Acquisition, and More Read More »

Korean Air Completes $1.3 Billion Acquisition of Asiana Airlines

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Korean Air has finalized its $1.3 billion acquisition of a 63.88% stake in Asiana Airlines, marking one of the largest aviation mergers in recent history. The landmark deal was completed on December 12, 2024, after Korean Air successfully secured regulatory approvals in 14 jurisdictions, including a comprehensive review by the U.S. Department of Justice (DOJ). The DOJ investigation focused on the impact of the merger on passenger and cargo routes between Asia and the United States. Following its review, the DOJ chose not to take any action, effectively greenlighting the acquisition. This merger is set to reshape the global aviation landscape, enhancing the competitiveness of Korea’s national aviation industry and fortifying Incheon Airport’s position as a major international hub for passenger and cargo traffic. Industry experts view the deal as a pivotal step in consolidating the strengths of both airlines to deliver enhanced services, streamline operations, and expand global reach. Korean Air’s strategic move is expected to bolster its market share and improve efficiency in a highly competitive industry. With this acquisition, Korean Air aims to leverage Asiana Airlines’ resources and expertise, creating synergies that will benefit travelers and the broader aviation ecosystem. As the integration process unfolds, the deal is anticipated to stimulate further innovation and growth within Korea’s aviation sector. This milestone solidifies Korean Air’s position as a global leader in the aviation industry, setting a precedent for strategic mergers and collaborations in the years ahead. Source: clearygottlieb Photo Credit: clearygottlieb

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Jindal Saw to Acquire 31.2% Stake in ReNew Green Energy for Concessional Power

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Jindal Saw Ltd. announced on Tuesday that it has signed an agreement to acquire a 31.2% equity stake in ReNew Green MHH One Private Limited (RGMHH), a subsidiary of ReNew Green Energy Solutions Private Limited (RGES). The acquisition aims to secure electricity at concessional rates for the company’s operations. While the financial details remain undisclosed, Jindal Saw confirmed in its regulatory filing that the acquisition is expected to be completed by May 31, 2025, or a mutually agreed date. Upon completion, RGMHH will be recognized as an associate company of Jindal Saw. Jindal Saw is a global manufacturer and supplier of steel pipe products, fittings, and accessories, with manufacturing facilities located across India, the United States, Europe, and the UAE. The move aligns with the company’s strategy to reduce operational costs through renewable energy partnerships while contributing to sustainable energy adoption. “The acquisition is driven by our objective to procure electricity at concessional rates, ensuring cost efficiency and environmental responsibility,” the company stated. The deal highlights Jindal Saw’s forward-looking approach toward clean energy solutions and its commitment to strengthening its operational sustainability. It also reflects the growing trend of industrial players partnering with renewable energy firms to address rising energy costs and achieve carbon neutrality goals. The acquisition is expected to enhance Jindal Saw’s long-term energy security while solidifying its position as a responsible and sustainable industrial leader. Further details regarding the investment structure or financial terms are anticipated closer to the transaction’s completion date. Source: Business Standard Photo Credit: Business Standard

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Tata Consumer Products Merges Three Subsidiaries to Streamline Operations

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Tata Consumer Products Ltd (TCPL), the FMCG arm of the Tata Group, has successfully completed the merger of three wholly-owned subsidiaries: Tata Consumer Soulfull Pvt Ltd, NourishCo Beverages Ltd, and Tata SmartFoodz Ltd. The move follows approvals from the National Company Law Tribunal (NCLT) and other regulatory bodies. The merger became effective on September 1, 2024, after fulfilling all conditions outlined in the Scheme of Merger, including filing with the Registrar of Companies. Purpose and Impact This consolidation aligns with TCPL’s goal of simplifying its legal entity structure to unlock efficiencies and synergies, according to a regulatory filing. The move is expected to enhance operational agility while maintaining the strategic focus of the merged entities. Despite the legal consolidation, the operational focus of the business units remains unchanged, with continued emphasis on: Millet-based products Ready-to-drink beverages Ready-to-cook/ready-to-eat offerings These segments are identified as growth areas for TCPL, underscoring its commitment to expanding its product portfolio and catering to evolving consumer preferences. TCPL’s Expansive Portfolio Tata Consumer Products boasts a diversified portfolio, including: Beverages: Tata Tea, Tetley, Organic India, Eight O’Clock Coffee, Tata Coffee Grand Water Products: Himalayan Natural Mineral Water, Tata Copper+, Tata Gluco+ Foods: Salt, pulses, spices, ready-to-cook/eat offerings, breakfast cereals, snacks, and mini meals The company reported a consolidated turnover of ₹15,206 crore, cementing its position as a major FMCG player in India. Strategic Outlook With this merger, TCPL is poised to strengthen its operational efficiency while focusing on high-growth categories. The consolidation is a step toward achieving the company’s broader strategy of scaling up its FMCG footprint in India and globally. Source: Business Standard Photo Credit: Business Standard

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Unacademy Valuation Drops: Acquisition Talks with Allen Career Institute Ongoing

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Unacademy, once valued at $3.4 billion, is reportedly in talks for an acquisition by Allen Career Institute, which could value the edtech firm at $800 million. This potential deal, as reported by the Economic Times, highlights a dramatic shift in the fortunes of the Indian edtech sector. Sources close to the discussions reveal that the acquisition talks have been ongoing for months and are nearing final approval from Allen’s promoters, the Maheshwari family. If successful, this merger would signify a pivotal consolidation in an industry grappling with challenges like a post-pandemic slowdown and the financial troubles of major players like Byju’s. Key Highlights of the Deal Valuation Dynamics: The proposed $800 million valuation includes Unacademy’s $160 million cash reserves, which remain a critical point in determining the enterprise value. Leadership Changes: Unacademy’s co-founders—Gaurav Munjal, Roman Saini, and Sumit Jain—are expected to exit the company post-acquisition. Hemesh Singh, a former co-founder, has already transitioned into an advisory role. Share Swap and Payouts: The share swap ratio and cash payouts for Unacademy’s founders and early investors are yet to be finalized. Motives Behind the Merger Allen Career Institute, a profitable offline coaching giant, sees this acquisition as an opportunity to bolster its digital presence, potentially paving the way for a public listing of the merged entity. On the other hand, Unacademy’s investors are keen on aligning with a stable and profitable venture like Allen. Industry Context The edtech sector has been under stress, with reduced demand for online-only models in the post-COVID era. While Unacademy has controlled its losses, its revenue growth has remained stagnant. Similarly, Allen has faced challenges due to the evolving dynamics of the Kota coaching ecosystem. Bodhi Tree, a significant investor in Allen, is reportedly playing a key role in these discussions. The investment firm, backed by James Murdoch and Uday Shankar, injected $600 million into Allen in 2022 and appears to be driving this strategic merger. This acquisition, if finalized, could reshape the edtech landscape, signaling a shift towards hybrid models that combine offline and online strengths. Source: Times of India Photo Credit: Times of India

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Foreign Firms Invest £7.8 Billion in UK Businesses Amid Decline in Overall M&A Activity

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Foreign firms invested £7.8 billion in acquiring UK businesses during the latest quarter, reflecting a £1.1 billion increase compared to the previous period, according to the Office for National Statistics (ONS). This rise in inward mergers and acquisitions (M&A) occurred despite an overall reduction in the number of deals within the UK. Key transactions during the quarter included Carlsberg’s £206 million buyout of its brewing joint venture with Marston’s and Quanex Building Products’ £788 million acquisition of FTSE 250-listed doors and windows specialist Tyman. These high-value deals highlight growing international interest in UK companies. However, the ONS report revealed a decline in outward M&A activities, where UK companies purchased overseas firms. These deals amounted to £4 billion, a £200 million drop from the previous quarter. Among the notable outward investments was AstraZeneca’s acquisition of Amolyt Pharma for $1.05 billion (£830 million), aimed at expanding its portfolio in endocrine disease treatments. Domestic M&A activity also saw a decrease, with UK firms acquiring other UK businesses for a total of £2.1 billion, down from £3 billion in the prior quarter. Overall, the quarter recorded 436 M&A deals, a 10% decline compared to the second quarter of 2024. While the value of foreign investments surged, the reduction in the number of transactions signals a potential slowdown in broader M&A activity within the UK. The latest figures underline a trend of increasing foreign ownership in UK businesses, even as domestic and outbound deal-making activity faces headwinds. The data reflects shifting priorities in the global investment landscape amidst economic uncertainties. Source: minutehack Photo Credit: minutehack

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