Patanjali, DS Group to buy Magma General for over $500 mn to enter insurance sector
Patanjali Ayurved Ltd and DS Group have teamed up to enter India’s insurance sector with the acquisition of Magma General Insurance Ltd from Adar Poonawalla-owned Sanoti Properties LLP and other shareholders. Sanoti, Celica Developers and Jaguar Advisory Services will sell their majority stake in Magma General at a valuation of about ......
Saudi-owned Scopely to buy Pokemon Go maker Niantic's game division for $3.5 bn
Niantic Labs said it would sell its video-game division to Saudi Arabia-owned Scopely for $3.5 billion, as the US augmented reality firm shifts focus to geospatial technology after failing to recreate the success of its 2016 smash hit Pokemon Go. The deal, announced on Wednesday, also advances Saudi Arabia's ambitions to ......
Dubai: ‘Not Just Destination for Global Capital, But Hub of Talent and Knowledge’
Dubai has long been recognized for its ambitious growth; however, the next stage of its economic journey would be fueled by a focus on productivity, partnerships, and unlocking new opportunities for investors. Driving Growth Through Productivity and Partnerships Mr. Mohamed Sharaf, Chief Operating Officer - FDI, Dubai Department of Economy & Tourism, ......
goSTOPS, Flowatt Battery Science, Felicity Games, others secure early-stage funding
Travel hostel brand goSTOPS, advanced battery technology startup Flowatt Battery Science, global game publisher Felicity Games, admissions startup Ambitio, and online school platform Dreamtime Learning have raised early-stage funding, the companies said on Tuesday. goSTOPS Travel hostel brand goSTOPS has raised Rs 35 crore ($4.2 million) in its Series A funding round, ......
Brigade Group-sponsored Earth Fund’s managing partner steps down
The managing partner of the Earth Fund, a venture capital vehicle sponsored by homegrown real estate developer Brigade Group, has stepped down, VCCircle has learnt. The Earth Fund, which invests in early-stage startups working on real estate technologies as well as climate-tech and cleantech domains, has witnessed the departure of its managing partner Saras ......
ADNOC eyes international listing of investment arm XRG
Abu Dhabi National Oil Company is considering listing its international investment arm XRG on an exchange outside of the United Arab Emirates, three people with knowledge of the matter said, potentially creating one of the largest listed energy companies globally. The discussions to list a minority stake of XRG, which was ......
Grapevine: TA Associates, OmniActive, Zepto, Jupiter, DSP Group in news
Private equity firm TA Associates is exploring the sale of its majority stake in OmniActive Health Technologies Ltd, according to a media report. The PE firm is in talks with potential advisers and could seek a valuation of up to $1 billion for the nutraceuticals company, Bloomberg reported, citing people familiar ......
Blue Tokai backer 12 Flags Group promotes exec to partner role
12 Flags Group, a consumer investment firm led by Reckitt Benckiser’s former global chief executive officer Rakesh Kapoor, has elevated one of its executives who joined two years ago to partner role. The Delhi-headquartered investment firm, which made its maiden bet on the homegrown coffee chain Blue Tokai, has promoted Rajat ......
Harry Banga-led Caravel acquires International Maritime Institute
The Caravel Group, a Hong Kong-based maritime conglomerate, said Wednesday it has acquired Indian marine engineering college International Maritime Institute (IMI), as it ventures into maritime training and education. The company did not disclose the terms of the transaction. Caravel said this deal will enable it to train its 28,000-strong ......
Deals Digest: Healthcare M&As dominate, PE/VC transactions lose pace again
Takeover transactions in the healthcare sector dominated dealmaking activity during the four-day period ending Thursday, marking the fourth busy week in a row for mergers and acquisitions. However, the funding momentum by private equity and venture capital firms declined for the second consecutive week from the high of over $500 ......
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