India’s leading steel manufacturer, Tata Steel, has commenced a feasibility study on two Canadian iron ore mines with a view to acquiring a stake in them. The LabMag and Kemag projects will feed the firm’s European operations if the study works out favourably, by the end of this year or early 2013.
One of India’s largest drug makers, Sun Pharmaceuticals, is on the lookout for buyouts across Europe.
According to reports, it is planning to raise around $1 billion for a possible takeover of German generic drugs firm Stada Arzneimittel AG. Stada, based in Bad Vilbel, Germany, has a market value of around $1.7 billion.
Indian conglomerate Aditya Birla Group has decided to buy Canada's Terrace Bay Pulp Mill for around $110 million to feed its fibre plants globally. The Mumbai-based group acquired the idled mill in north western Ontario with plans to invest more than $250 million.
India’s Bharti Airtel and Japan’s Softbank Corporation have announced a partnership with Yahoo Japan to develop a mobile internet portal and other services for the Indian mobile market.
Bharti Softbank (BSB), a 50-50 joint venture between the two mobile phone giants, have created a new firm BSY to launch operations later this month.