Acquires Financial News

(Reuters) — Private equity giant KKR said on Tuesday it had acquired a $373 million portfolio of prime auto loans from Synovus (NYSE:SNV) Bank.

GPS Renewables, a Bengaluru headquartered biofuels technology company, has acquired Germany-based Proweps Envirotech GmbH, for an undisclosed amount. Proweps Envirotech GmbH is a design and engineering company that specializes in technologies to utilize municipal and industrial organic waste and agri-residue for biogas production.

Chandak Group has entered into an agreement to redevelop a housing society spread over 3.6 acre in Mumbai’s Andheri suburb with the project envisaging a total development potential of over 460,000 sq ft. Of the total development potential, the project will provide a saleable area of over 281,000 sq ft that is estimated to have revenue potential of Rs 956 crore.

Jun Du, the co-founder of Huobi, has bought 10 million Curve tokens (CRV) for $4 million from Michael Egorov, the founder of Curve, as he seeks ways to decrease his exposed loan position.

Adani group news: Ambuja Cements Ltd (ACL), a flagship Adani Group company, today announced the acquisition of Sanghi Industries Ltd (SIL) at an enterprise value of ₹5,000 crore. ACL will acquire 56.74 per cent shares of SIL from its existing promoter group, Ravi Sanghi & family. The acquisition will be fully funded through internal accruals.

Mercer Advisors has expanded its network of registered investment advisory firms with the acquisition of a $720 assets under management business in San Diego, California.

New Delhi: Power transmission developer Sterlite Power on Wednesday said it has successfully acquired Fatehgarh III Beawar Transmission Limited, a special purpose vehicle (SPV) from PFC Consulting Limited (PFCCL). PFCCL is a wholly owned subsidiary of Power Finance Corporation Limited (PFC), a maharatna company.

Aditya Birla Group acquired full stake in KA Hospitality, announced the company on Tuesday. The acquisition has resulted in the addition of four new restaurant brands, Hakkasan, Yauatcha, Nara Thai and CinCin in its portfolio.

KKR, has acquired four road assets from Macquarie India in a deal worth ₹3,000 crore. Earlier, Adani Road Transport had agreed to acquire these road assets for ₹3,100 crore, but terminated the deal last month citing «unsatisfactory conditions». Highways Infrastructure Trust (HIT) will acquire Gujarat Road & Infrastructure (GRICL) and Swarna Tollway (STPL), the InvIT said in a filing with stock exchanges.

Texas Rangers have made a significant move to bolster their pitching rotation, agreeing to acquire three-time Cy Young Award winner Max Scherzer from the New York Mets. The deal, still awaiting official announcement, comes amidst the Rangers' recent struggles, with a 4-0 loss to the San Diego Padres being their sixth defeat in eight games, narrowing their AL West lead to just one game over the Houston Astros. The blockbuster trade sees the Rangers add the 39-year-old Scherzer, a highly accomplished pitcher with a stellar track record. This acquisition comes as a timely boost for the team, with their ace Nathan Eovaldi experiencing setbacks, causing his next start to be pushed back once again. Manager Bruce Bochy has expressed the need for the rotation to improve, making Scherzer's arrival all the more crucial. Meanwhile, Scherzer's addition to the Rangers' roster means joining forces with another former Mets pitcher, the two-time Cy Young Award winner, Jacob deGrom. Unfortunately, deGrom is currently sidelined due to Tommy John elbow surgery, potentially keeping him out of action until the end of next season.

InVentry, a UK-based global leader in technology solutions, has acquired Singapore-based Hipla Technologies, a pioneer in smart workplace management solutions. The acquisition is part of InVentry’s global expansion plan and will support their international growth strategy across both Singapore and India.

New Delhi: In its second international acquisition this month, auto parts maker Samwardhana Motherson International on Monday said it will take over German high-end polymer parts maker Dr Schneider's business at an enterprise value of €118 million. The acquisition will expand Motherson's footprint in the interior polymers business with enhanced offerings in premium lighting panels and air vents. The deal follows Motherson's acquisition of Honda's Yachiyo sunroof business earlier this month.

Samvardhana Motherson International (SMIL) on Monday said it has acquired Germany's Dr. Schneider Group for $131.6 million. Dr.

Evertas, the first digital asset insurance company has announced its acquisition of Bitsure, the first crypto mining insurance provider as it looks to expand its coverage in multiple jurisdictions. 

SEC registered investment advisory firm SageView Advisory Group has expanded its growing national footprint with the acquisition of Retirement Benefits Group (RBG) San Diego.  

₹5100 value per security aggregating to ₹5.10 crore. The face value is Rs. 10 per equity share.  Bhujialalji Pvt.

FanCode has acquired the digital rights of FIFA Women’s World Cup 2023 from 1Stadia and will livestream all the matches across India on its digital platform. As per the company, the matches can be watched on FanCode’s mobile app, TV app available on Android TV, Amazon Fire TV Stick, Jio STB, Samsung TV, Airtel XStream, OTT Play and on the FanCode website.

Morgan Stanley PE Asia has acquired a controlling stake in ClearMedi Healthcare, a Delhi-headquartered chain of oncology hospitals and radiation therapy centres, in a deal valued at about $35 million (Rs 285 crore). Italy's KOS Group, which has been a strategic investor, exited ClearMedi by selling its stake to the PE firm and the promoters of the healthcare provider, people briefed on the transactions told ET.

HCLTech will acquire a 100% stake in German automotive engineering services provider ASAP Group for €251 million and the transaction is expected to close by September 2023 subject to regulatory approvals, the IT major informed the stock exchanges on Thursday. ASAP is focussed on future-oriented automotive technologies in areas such as autonomous driving, e-mobility, and connectivity.

Netflix has made a significant acquisition at the Cannes Film Festival, securing the rights to the upcoming movie "May December" starring Natalie Portman and Julianne Moore. The streaming giant paid an impressive $11 million for the US rights to the film, set to premiere in December 2023. Directed by Oscar-nominee Todd Haynes («Far From Heaven,» «The Velvet Underground») and written by Samy Burch, the script for «May December» was featured on 2020's The Black List. This collaboration of acclaimed talent has already garnered attention and anticipation. «May December» premiered at the Cannes Film Festival and currently holds an impressive 89% rating on Rotten Tomatoes based on 35 critic reviews. The Independent described it as a character study enriched by exceptional performances from Portman and Moore, delving into realms untouched by more conventional dramas. The Times praised the film as a compelling exploration of Hollywood vanity, sadism in relationships, and the complexities of self-deception. The movie was filmed in Savannah, Georgia, over the course of October and November 2022, resulting in a runtime of 113 minutes. The location and duration contribute to the atmospheric storytelling envisioned by Haynes.

Captrust Financial Advisors has closed its fifth acquisition of the year and its third in Texas with the addition of Southern Wealth Management, a $2.3 billion RIA based in San Antonio.