Drugmaker Dr Reddy's Laboratories Ltd has sold an antibiotic manufacturing facility in the US to Abu Dhabi-based pharmaceutical manufacturer Neopharma LLC UAE. Erez Israeli, COO, Dr Reddy's, said in a statement: “This sale is in line with our stated priority to streamline and optimise our global cost structures and help us focus on other business priorities to drive growth.” Suresh Nandiraju, COO at Neopharma Inc., the UAE company’s US unit, said the acquisition will strengthen its product portfolio for driving [...]

Mumbai-based enterprise security company Aurionpro Solutions Ltd said it will acquire a 51 per cent stake in Singapore-based banking technology firm Neo.Bnk Pte Ltd for $1.5 million (Rs 10 crore). The acquisition is in line with the company’s strategy of integrating and scaling up its product suite to a next-generation platform, said Aurionpro in a stock market disclosure. The acquisition, which will be done through its wholly-owned subsidiary Aurionpro Solutions Pte Ltd, is expected to be concluded by the end [...]

Japanese heating, ventilation, and air conditioning (HVAC) major Shinryo Corporation has announced the acquisition of Suvidha Engineers India Pvt Ltd for an undisclosed sum. Suvidha officially became part of Shinryo Group, Japan as of 1 October 2018, the company said in a statement. It added: "Accordingly, it changes its name to Shinryo Suvidha Engineers India Pvt Ltd (Shinryo Suvidha).” The acquisition provides Shinryo Corporation, which had 2017 sales of 241,100 million Yen (about Rs 15,000 crore/$2 billion), access to the [...]

Italian super sports car maker Automobili Lamborghini expects India to break into its top ten global markets in the next five years with its new SUV Urus set to help drive up volumes in the country. The company, which sold 26 units in India last year, expects to double that in the next two years, with Urus drawing a completely new set of buyers. Matteo Ortenzi, CEO Asia Pacific, Automobili Lamborghini, said: "India is not yet in the top ten [...]

One97 Communications Ltd, the parent of Paytm, has raised $300 million from Warren Buffett’s Berkshire Hathaway Inc. The Paytm deal marks Berkshire Hathaway’s first investment in the country’s bustling start-up ecosystem. It is also a rare deal for the world’s best-known investor, who typically avoids internet firms, and is being considered a boost for India’s start-up industry. As a part of the deal, Berkshire’s investment manager Todd Combs, who was leading the investment discussions, will join Paytm’s board. Even though [...]