British American Tobacco Plc (BAT), known for its Lucky Strike cigarettes, is poised to initiate the sale of a portion of its stake in its Indian partner, ITC, as early as this week, according to media reports. Reports suggest that London-listed BAT has been in discussions with Bank of America Corp. and Citigroup Inc. regarding […]
Alibaba Group is reportedly exploring the sale of various consumer sector assets, including its grocery business Freshippo and retailer RT-Mart, as part of a strategy shift towards its core ecommerce business, Reuters reported. The move aligns with the company’s focus on divesting non-core, unprofitable units, it said. Talks with potential investors, both strategic and financial, […]
Procter & Gamble on Tuesday revealed its plans to incur charges of up to USD 2.5 billion over two fiscal years, attributing them to the devaluation of its Gillette business and strategic restructuring in specific markets. In early trade, the company’s shares experienced an approximately 2 per cent decline. P&G detailed a non-cash impairment charge […]
The Adani Group, led by Gautam Adani, is reportedly in discussions to divest its complete 43.97 per cent stake in Adani Wilmar, with the deal anticipated to be finalised within a month, as reported by a media house. Adani Wilmar, the owner of well-known brands like Fortune Oil and packaged groceries, is expected to fetch […]
The state-owned Oil and Natural Gas Corporation (ONGC) has unveiled a significant financial restructuring plan for its subsidiary, ONGC Petro-additions Ltd (OPaL), involving an infusion of approximately Rs 15,000 crore. The move is poised to reshape the ownership structure, resulting in gas utility GAIL (India) Ltd being edged out of the petrochemical firm. Presently, ONGC […]
