Business News

Bharti Softbank, a joint venture company of Bharti Enterprises and Japanese telecommunications major Softbank Corporation, has picked up 36.5% stake in entertainment website ScoopWhoop  which focuses on viral content.

Miami-based fast food chain Burger King entered the Indian market in November 2014, with the opening its first outlet in the up-market Select Citywalk mall in Saket, New Delhi. The company has also partnered with e-commerce site eBay India to provide an unique service which allowed the users to pre-order the hospitality major’s super-sized “Whopper” burger. Burger King is best known for its five-inch diameter iconic burger—the “Whopper”, which was created in 1957.

Warren Buffett’s Berkshire Hathaway Inc will buy Procter & Gamble Co’s Duracell battery business in exchange for its entire $4.7 billion stake in the world’s No. 1 household products maker. P&G, whose brands include Pampers diapers and Tide detergent, said it would contribute about $1.8 billion in cash to recapitalize Duracell before the transaction.

Delhi Metro and Yamuna Expressway are among the six Indian infrastructure ventures that have figured in the list of world’s most innovative, impactful infrastructure projects prepared by international accounting firm KPMG. The other Indian infra projects to make the list of this year’s KPMG’s Infrastructure 100 are: Tata Power’s Mundra Ultra Mega Power Project in Gujarat, Interceptor Sewage System, Gujarat, International Finance Tec-City (GIFT) and Narmada Canal Solar project. These projects were evaluated by 17 judges on the basis of their scale, feasibility, complexity, innovation and impact on society.

The Board of Kotak Mahindra Bank Ltd has approved the acquisition of ING Vysya Bank Ltd, in which Dutch lender ING Groep NV owns about 43 percent, in an all-stock deal. After the merger, Kotak Mahindra Bank will become the fourth largest private sector bank of India, after ICICI Bank, HDFC Bank and Axis Bank.

Tech Mahindra will acquire global network services firm Lightbridge Communications Corporation (LCC) in an all-cash deal worth over ₹1,486 crore. The move will help Tech Mahindra to tap the rapidly growing market opportunity in the telecommunications and enterprises network space. Headquartered in Virginia, USA, LCC is one of the world’s largest independent global providers of network engineering services to the telecommunications industry.

Future Consumer Enterprise Ltd, the food and FMCG arm of Kishore Biyani-led Future Group, today acquired south India-based convenience store chain Nilgiris for nearly ₹300 crore.

Adani Power has bought 600 MW Korba West Power Project of Avantha Power for over ₹4,200 crore.

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