UPL, Uno Minda and Honasa Consumer to see some action today

UPL has entered into a Joint Venture agreement with Aarti Industries on May 23, 2024 for manufacturing and marketing of specialty chemicals that has applications in multiple downstream industries. The proposed Joint Venture between UPL and Aarti Industries is for sale and marketing of specialty chemicals having diverse downstream applications in agrochemical and paint industry. The arrangement will combine the strength of Aarti Industries and UPL supplying key raw materials for manufacturing of specialty chemicals.

Uno Minda has received approval for the acquisition of 1.97% Equity Shares of Toyoda Gosei Minda India from Minda Investments. Post-Acquisition, the resultant shareholding of the company shall be 49.90%. The company also received in-principal approval for acquisition of 49% Equity Shares of Minda Nabtesco Automotive from Nabtesco Automotive Corporation, Japan. Post acquisition, the target entity shall become an associate company of Uno Minda. The Board of Directors of the company, at its meeting held on May 23, 2024, has inter alia, approved the same.

Honasa Consumer has received the Board’s approval for asset purchase agreement with Cosmogenesis Cosmetics, a sole proprietorship, based out of Thane, Maharashtra to purchase identified assets and intellectual properties as part of this agreement which will benefit the company in expanding the R&D and manufacturing capabilities. 

Delhivery has entered into partnership with SUGAR Cosmetics, a home-grown beauty brand to spearhead its pan-India B2B logistic operations. Its extensive networks, technology-driven solutions, and express Part Truck Load (PTL) services will ensure faster delivery of B2B consignments, allowing SUGAR Cosmetics to better serve their retail partners.

Shakti Pumps (India) has received a patent for inventing 'Method and apparatus for soft start, soft stop, protection & brown out operation of a grid-connected motor’. The Patent Office, Government of India, has awarded Shakti Pumps this patent, fully adhering to the provisions set forth in the Patents Act of 1970. This patent is set to maintain its validity for duration of 20 years, commencing from the date of filing. This is the 14th Patent that the company has secured. 

HCL Technologies has finalised the acquisition of select assets from Hewlett Packard Enterprise's Communications Technology Group (CTG) for $225 million. This strategic acquisition encompasses valuable intellectual property (IP), engineering and research & development (R&D) talent, as well as established client relationships with leading global Communication Service Providers (CSPs).

ZEE Entertainment Enterprises (ZEEL) has demanded a termination fee of $90 million from Culver Max Entertainment (formerly Sony Pictures Networks India Private Ltd) and Bangla Entertainment (BEPL). This was in response to breaches of the merger cooperation agreement (MCA) by Culver Max Entertainment and Bangla Entertainment.