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Tag: Group

Inditrade Group looks to grow inorganically

Inditrade Group looks to grow inorganically

Finance
Kolkata: Inditrade Group is actively working on the acquisition plans to grow faster and is looking to raise about Rs 200 crore to expand its different business units. The group plans to grow aggressively to raise stakes among the micro and small borrowers. The capital will be raised in a combination of equity and debt, group chairman Sudip Bandyopadhyay told ET. “We will continue to actively look for both organic and inorganic growth to grow rapidly,” Bandyopadhyay said. However, Inditrade Capital’s attempt to acquire a majority stake in microfinance firm Varam Capital has fallen flat as negotiations failed. Inditrade Capital floated Inditrade Microfinance as its wholly owned subsidiary in April last year. Bandyopadhyay said that Inditrade Capital’s non-banking un...
Canada's Stars Group in £2.6bn Sky Bet talks

Canada's Stars Group in £2.6bn Sky Bet talks

Business
The Canadian gambling group behind the online PokerStars platform is in advanced talks about a takeover of Sky Bet‎ that would gatecrash a £3bn London float of the English Football League sponsor.Sky News has learnt that negotiations between Toronto-listed Stars Group and Sky Betting & Gaming about a deal worth approximately £2.6bn have been underway for weeks.An announcement of an agreed transaction is expected to be made as early as Monday, according to insiders.If completed, the takeover will be the latest in a rapidly consolidating global industry adapting to an explosion in ‎consumer betting on digital platforms and devices.Sky Bet is majority-owned by CVC Capital Partners, the private equity firm which used to control Formula One motor racing.CVC holds 71% of Sky Bet's shares, wh
CME Group to buy UK-based trading firm for $5.5 billion in major cross-border deal

CME Group to buy UK-based trading firm for $5.5 billion in major cross-border deal

Finance
Futures trading giant CME Group has reached a deal to buy U.K.-based trading firm NEX Group for £3.9 million ($ 5.49 billion).CME will acquire London-based NEX in a transaction valued at £10 ($ 14) per share, consisting of £5 in cash and 0.0444 CME Group shares, based on CME's closing share price of $ 158.84 on Wednesday, the companies said in statements Thursday.The transaction is expected to close in the second half of 2018, pending on the approval of regulators and NEX shareholders.NEX is a provider of currency and fixed income platforms, and other over-the-counter (OTC) post-trade products and services.The two companies said earlier this month that CME had approached NEX with a takeover offer, a move that triggered speculation that there could be rival takeover bids from other players
Noble Group signs binding agreement for financial restructuring

Noble Group signs binding agreement for financial restructuring

Finance
Commodities trader Noble Group said it has finalised a binding agreement with a group of senior creditors holding 46 percent of its debt, and was in talks with others, on a restructuringdeal crucial to its survival. Noble said in a statement on Wednesday that its Restructuring Support Agreement (RSA) had been signed by creditors known as the Ad Hoc Group. Noble is also seeking support from its senior creditor, Deutsche Bank and trade finance provider, ING Bank. The trader said Deutsche Bank had signed the RSA, and ING Bank was in the process of seeking credit approval to sign it. Together, both represent a further 4 percent of Noble's claims. Noble said the Ad Hoc Group was also in contact with other senior creditors who were holding an additional 15 percent of claims and had indicated the...