ABB has made an offer to increase stake in its Indian subsidiary by 22.89% at a cost of nearly US$1bn. ABB said it will buy 48.59mn shares at Rs900 per share, a 34% premium to last Friday’s closing price of ABB India shares. (ET)
Credit rating agency Fitch removed Bharti Airtel from its negative watch list in anticipation of an US$2bn equity infusion during the current fiscal, as well as hopes of better overall performance. (ET)
DLF confirmed it had decided to sell its stake in Aman Resorts, but a sale would exclude Aman’s New Delhi property. (ET)
Tata Steel is keen on forming a JV with Steel Authority of India (SAIL) to set up a steel plant. (ET)
Thermax has signed a five-year technology transfer agreement with Germany based Lambion Energy Solutions in the areas of energy generation from waste. (ET)
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