Shot in arm for Pepsi
New Delhi, Jan. 3: The government is believed to have given the go ahead to cola giant PepsiCo to acquire one of its franchisees by bringing overseas funds while making it mandatory on the softdrink conglomerate to divest 49 per cent equity in the same within five years. PepsiCo India Holdings, with an approved foreign equity of $ 405 million, had approached the Foreign Investment Promotion Board (FIPB) to acquire operations of Dhillon Kool Drinks and Beverages Ltd through its subsidiary Aradhana Soft Drink Company on the ground the franchisee was facing 'enormous financial crisis'.
Mumbai, Jan. 3: The board of Taj group’s Indian Hotels Company will meet on January 9 to consider sale of two hotel properties. The leading hotel group has been mulling over the idea of exiting from around nine prime properties spread across the country as they did not fit into its strategy and profile.
New Delhi, Jan. 3: Jagson Airlines, which has recently been granted scheduled operator status, would soon acquire about eight additional aircraft, including small jets, and has plans to operate on trunk and medium-haul routes with its new acquisitions.
New Delhi, Jan. 3: Dr Reddy’s Laboratories today announced the launch of Dr Reddy’s Foundation For Health Education. The foundation's primary objective would be to promote health education in the country by creating qualified healthcare professionals who would complement and add value to the existing healthcare system.
Mumbai, Jan. 3: Housing Development Finance Corporation Ltd (HDFC) has divested its entire stake in Bermuda-based Spectramind for Rs 26.4 crore to Wipro. In a notice to the BSE, the company said it had completed divestment of its stake in the company for a consideration of Rs 26.4 crore.
Mumbai, Jan. 3: Tata Engineering will begin deliveries of its three box sedan Indigo from Saturday. The company currently has an order book for over 2,000 Indigos and has been getting a “good response” since the car's launch last month.