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GSK Buys Swiss Pharma Co. Novartis et al.

Professor of Financial Economics and Part-time Value Investor, Transfin.
Mar 27, 2018 12:40 PM 1 min read
Editorial

End of Day Wrap-up (Tuesday / March 27, 2018) #BandhanBank #IPO #JSW #steel #Piramal #Bain #GSK #Novartis #Transfin

Editor's comment: Kolkata-based Bandhan Bank makes market debut, scripting a 33% premium to the issue price of INR375 on NSE.

 

JSW Steel will invest c. USD500 mn to improve the capacity utilisation of its plates and pipes mill in Texas, US. As part of the deal, Governor Greg Abbott approved a grant of USD 3.4 million from the Texas Enterprise Fund for JSW Steel.

 

India Resurgent Fund and a joint venture between Bain Capital Credit and Piramal Enterprises is raising a USD1 bn fund to acquire stressed assets in India.

 

Delhi becomes the first city to adopt Bharat Stage-VI (BS-VI) fuels, well ahead of April 1 deadline set for the national capital. Supreme Court wants other cities to follow suit.

 

GlaxoSmithKline buys Swiss pharmaceutical co. Novartis for USD13 bn taking over control of products such as Sensodyne toothpaste, Panadol headache tablets, muscle gel Voltaren etc.

 

U.S. based private equity giant Carlyle Group LP Led Consortium to Buy Dutch paints giant Akzo Nobel’s Chemicals Unit for USD12.6 bn