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Ahmedabad-based firm beats domestic rival Aurobindo, global giants Mylan and Novartis In one of the largest overseas acquisitions by an India pharmaceutical company, Ahmedabad-based   Intas Pharmaceuticals   acquired the generics business of Actavis in the UK and Ireland from global generics giant Teva for an enterprise value of £600 million (Rs 5,100 crore) in an all-cash deal. This is a big leap for the unlisted Indian company, which had annual revenue of Rs 6,569 crore, an earnings before interest, tax, depreciation and amortisation (Ebitda) margin of 22 per cent and net profit of Rs 882.5 crore in 2015-16. Teva   sold these assets after the European Commission's (EU) anti-trust divesture requirements arising from its acquisition of Actavis Generics. The revenue of Teva's UK and Ireland stood at £250 million (Rs 2,100 crore) in 2015. Intas paid 2.4 times Teva UK's revenue for the acquisition. "This transaction represents a unique opportunity for Inta...

Wal-Mart buying Jet.com to lift online sales, battle Amazon Wal-Mart Stores Inc, vying to better challenge Inc, will pay about $3 billion for internet retailer Jet.com   and its innovative pricing software in the largest-ever deal for an   e-commerce start-up. The deal disclosed on Monday follows a five-year e-commerce acquisition spree in which Wal-Mart , the world's biggest traditional retailer, has already bought 15 start-ups, seeking the talent and technology needed to make it a dominant player online and narrow the massive gap with market leader   Amazon . Wal-Mart's online division has underperformed against Amazon, posting its slowest growth in a year in the first quarter as it struggled to gain traction with consumers, especially millennials. Jet.com   was launched by internet entrepreneur Marc Lore in July 2015 and includes software that can offer a customer lower prices as they add items to their shopping cart. Wal-Mart has said it would integra...

French telecom major Orange has acquired Bharti Airtel’s operations in Burkina Faso and Sierra Leone. The dealwas in the making since July last year when the French company was reported to take over operations of Bharti’s operations in a few African countries. According to a company statement, Orange will acquire 100% stake in the two companies’ share capital. The size of the deal was not announced. The consolidated revenue of the two companies is around 275 million euros, Bharti Airtel said in a statement.  Read Articles