Indian software solutions firm Tech Mahindra has acquired Hutchison Whampoa Limited's back-office call centre business for $87.1 million. Hutchison Global Services (HGS) operates out of Mumbai and Pune and is among the largest business process outsourcing (BPO) firms in the telecom domain.
The Tata Group took another firm step towards expanding its global tea and coffee business with the acquisition of a Russian company. Tata Global Beverages acquired the remaining 49 per cent stake in SuntyCo Holding, the owner of the Grand tea and coffee business in Russia, for an undisclosed amount.
Automotive components maker Varroc Engineering has completed the acquisition of US-based Visteon Corporation’s global lighting business in a $72-million deal. The acquisition enables the Aurangabad-based firm to enter the four-wheeler lighting segment as Varroc Lighting Systems.
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.