The Telegraph
Tuesday , December 18 , 2012
Since 1st March, 1999
CIMA Gallary
Business Briefs

Sun to buy drug firm

New Delhi, Dec. 17: Drug major Sun Pharmaceutical Industries today said its arm Caraco Pharma will buy Japanese drug maker Takeda Pharmaceuticalsí US-based generics subsidiary URL Pharma. Caraco has entered into a definitive agreement with Takeda Pharmaceuticals US Inc, a wholly owned subsidiary of Takeda Pharmaceutical to buy the URL Pharma Incís generic business. It, however, remained silent on the financial details of the deal.

RPower shares

New Delhi, Dec. 17: Reliance Power today said three of its promoters will offload 5.42 per cent stake in the firm, a move that will help the Anil Ambani group firm comply with the minimum public shareholding norms. The shares will be sold through an offer for sale on December 19.

Axis Capital

Mumbai, Dec. 17: Axis Capital, the investment banking subsidiary of Axis Bank, and Baird, an employee-owned, international financial services firm, today announced a strategic alliance for investment banking services.

JSW Steel

New Delhi, Dec. 17: JSW Steel has inked an agreement with JFE Steel Corporation of Japan to produce electrical steel sheets used mainly in the power sector. The two firms have an alliance for making steel for the auto sector.

Petronet stake

New Delhi, Dec. 17: India has offered Qatar a 5.2 per cent stake that the Asian Development Bank held in Petronet LNG, the nationís largest liquefied natural gas importer.