Acquires Financial News

Sequoia Financial Group has expanded its $18 billion AUM business with the acquisition of an RIA firm in Houston.

Jeff Bezos is expanding his real estate portfolio with a third mansion on South Florida's exclusive Indian Creek island. As reported by Bloomberg, the founder of Amazon.com Inc. has reportedly agreed to pay around $90 million in an off-market deal for a six-bedroom home in the Miami-area enclave.

Yahoo said on Tuesday it had acquired Instagram co-founders' AI-driven news platform, Artifact, and will incorporate its technology across the U.S. web services provider's news and other sites. The deal signals continued pain for media start-ups struggling to grow revenue at a time when Big Tech giants Alphabet and Meta Platforms attract the bulk of advertising sales.

RIA Clearstead Advisors is boosting its status among top wealth managers as it secures the assets of Virginia-based Wilbanks Smith and Thomas Asset Management.

Best Agrolife Ltd (BAL) on Friday announced the acquisition of a 100 per cent stake in Sudarshan Farm Chemicals India Pvt Ltd (SFCL) for Rs 139 crores. The acquisition will enable BAL to leverage SFCL's proficiency in developing cost-effective and distinctive manufacturing routes for off-patent molecules, it said. «This acquisition involves obtaining a 100 per cent stake through cash consideration, with an estimated enterprise value of Rs 139 crores based on the valuation,» the Delhi-based BAL said in a statement. The cash outflow for BAL will be to the tune of Rs 9.5 crore after considering the net working capital and liabilities, it said.

NEW DELHI : Apollo Pipes Ltd, part of the APL Apollo group, has acquired a 53.57% majority stake in Kisan Mouldings Ltd (KML) for ₹118.40 crore, aiming to bolster its position in the PVC pipes and fittings sector. In an exchange filing on Tuesday, Apollo Pipes said that it secured the stake via a preferential issue of 6,40,00,000 equity shares, priced at ₹18.50 per share with a face value of ₹10 each. This capital infusion has led to Kisan Mouldings becoming a subsidiary of Apollo Pipes.

Maruti Suzuki India on Saturday said it has acquired over 6 per cent stake in technology startup Amlgo Labs. The startup operates in data analytics, cloud engineering, machine learning (ML) and artificial intelligence (AI) to assist companies in data-driven decision-making. The investment is being made through Maruti Suzuki Innovation Fund, an initiative to undertake strategic investments in startups exhibiting high levels of technological innovation, the auto major said in a statement.

Omkara ARC has acquired Park Hyatt Hyderabad's loans for ₹300 crore from lenders at a 34% discount from sellers that included BlackRock and JM Financial. The all-cash deal involved Omkara paying ₹300 crore to buy the ₹450 crore principal outstanding of Park Hyatt in Hyderabad, a 5-star luxury hotel consisting of more than 200 rooms including 25 suites and 40 serviced apartments in Hyderabad. The total debt outstanding including interest and principal is ₹700 crore. «Omkara has bought hotel debt from JM Financial and BlackRock at 66% of the debt,» said a source. «The transaction involved acquiring the NCDs from lenders.» Spokespersons of both Omkara ARC and JM Financial did not respond to requests for comment immediately while BlackRock could not be reached immediately for comment.

Sensor Tower said it is acquiring rival firm Data.ai in a move that could create a powerhouse entity in the mobile intelligence industry. Financial details of the deal were not disclosed. Both market intelligence platforms, Sensor Tower and Data.ai help businesses and developers track key metrics for their mobile apps, such as download estimates, active user base, in-app revenue generation, and user engagement relative to specific demographics and competitor performance.

Stock market today: Shares of Salasar Techno Engineering Ltd are one of the multibagger penny stocks that the Indian stock market has delivered in the last one year. This tech stock has surged nearly 150 percent in the last one year. The multibagger penny stock was in the news recently for trading ex-bonus on 1st February 2024.

Godrej Properties, the real estate development arm of Godrej Group, has acquired over 3-acres land parcel in Hyderabad’s Kokapet locality. This is the second land parcel acquired by the company in Hyderabad, taking its overall development revenue potential to Rs 4,800 crore in the city. The land has a total development potential of 1.2 million sq ft of saleable area and the company is planning to develop a premium residential project here with an estimated booking value of Rs 1,300 crore. This acquisition is in line with Godrej Properties’ strategy of developing high-quality residential projects across India's leading real estate markets.

Godrej Properties on Thursday informed stock exchanges that it acquired a second land parcel in Hyderabad in the past one month to develop "high-quality residential projects". The real estate company acquired 3 acres of land in Kokapet near the Outer Ring Road junction close to Golden Mile Road in Hyderabad. Godrej Properties said that the development on Kokapet land is estimated to have a potential of 1.2 million square feet of saleable area comprising premium residential apartments with an estimated booking value of ₹1,300 crore.

Adani Enterprises announced that its Dubai-based arm, Ospree International FZCO, has successfully acquired 100% stake in France-based Le Marche Duty Free SAS (LMDF) for a sum of 5,000 euros. This strategic move aims to bolster the company's presence and growth within the duty-free industry. Adani Enterprises emphasized the significance of this acquisition in a filing to the exchange, highlighting its alignment with the expansion goals of Mumbai Travel Retail Private Limited.

₹1,000 crore, includes an equity value of ₹300 crore, according to two people familiar with the development. Commissioned in May 2013, the hydroelectric facility harnesses power from two interconnected reservoirs located on the Rangpo and Rongli rivers. Mint had earlier reported that Greenko Group was considering the acquisition of GI Hydro's 110 MW Chuzachen project.

JPMorgan Chase & Co. acquired LayerOne Financial, an investment management platform that was spun out from Fortress Investment Group, as it seeks to improve its offerings for hedge funds. 

Renewable energy player BluPine Energy on Monday said it has completed the acquisition of 369 MW solar power assets from Acme Group. The 369 megawatts of solar capacity power assets are spread across Uttarakhand, Punjab, and Karnataka and augment its total renewable capacity to 2.4 gigawatts, BluPine Energy said in a statement. Neerav Nanavaty, CEO of BluPine Energy, said, «The renewable energy sector in India continues to witness remarkable growth. We have high-quality solar assets in our portfolio, further solidifying our commitment to driving positive change in India's energy sector.»

Iris scanning Worldcoin project’s key contributor Tools for Humanity has acquired Solana-based Ottr Wallet to foster Worldcoin’s user onboarding process.

PE investor Nordic Capital has signed an agreement to acquire a majority share in Zafin, a provider of SaaS core modernisation and transformation solutions for financial institutions. The investment is made in close partnership with Zafin’s founders and management, who will reinvest in the company alongside Nordic Capital, the company said in a statement.

Bandhan Bank has acquired 12 offices spread across two floors in a commercial tower in Mumbai’s business district Bandra-Kurla Complex (BKC) on an outright basis for more than Rs 135.64 crore. The bank has picked up these commercial offices in INS Tower in BKC from four different sellers — Suraksha Realty, Neostone Developers, Orbit Enterprises, and Veera Associates. The bank has picked up the new office space as part of its growth and expansion strategy. It is expected to use this new space, which is nearly four times bigger than the current office in BKC’s Platina tower, as its Mumbai corporate office.

The multicurrency wallet is currently contacting customers directly with Wyre log-in details and instructions on how to reactivate their accounts. Users will then be able to migrate these details to the RockWallet platform.

(Reuters) — Henkel has agreed to acquire U.S.-based protective coating and sealing solutions firm Seal for Life Industries as it sees growing demand in repairing and maintenance, the German consumer goods company said on Thursday.