Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARD :: VAT RATES :: list of goods taxed at 4% :: articles on VAT and GST in India :: ARTICLES ON INPUT TAX CREDIT IN VAT :: empanelment :: form 3cd :: TDS :: VAT Audit :: due date for vat payment :: Central Excise rule to resale the machines to a new company :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: cpt :: ACCOUNTING STANDARDS
 
 
« Mergers and Acquisitions »
 Deals of the day-Mergers and acquisitions Apr 27, 2017,
 GAVS Tech eyes to double revenue from mergers & acquisitions
 New Indirect Tax Regime: Homebuyers and renters keeping fingers crossed on GST impact
 Hitachi India appoints Bharat Kaushal as managing director
 RBI issues new draft rules for M&As
 The 12 digital health mergers and acquisitions of Q1 2017
  Deals of the day-Mergers and acquisitions Apr 19, 2017
 Deals of the day-Mergers and acquisitions Apr 19, 2017
 Foreign investors giving M&A deals in India’s renewable energy sector a miss
 Mergers and acquisitions are getting riskier as insurance claims rise
 The Financial Times started a mergers and acquisitions newsletter for its highest-paying subscribers

Focus on overseas acquisition
January, 02nd 2010

The steel ministry has directed governmentowned companies like Steel Authority of India Limited (SAIL), Rashtriya Ispat Nigam Limited (RINL) and National Mineral Development Corporation (NMDC) to scale up its overseas acquisition drive and close at least one deal within the next three months.

The tall order by the ministry comes in the backdrop of ongoing discussions with mining and steel companies in Australia even as ore prices continue to rise.

Speaking exclusively to ET NOW, steel ministry secretary Atul Chaturvedi said: Security of resources for future product requirements is absolutely essential, especially for those natural resources which are not available in abundance, such as cooking coal.

Hence, we have advised PSUs to aggressively acquire assets abroad . The government has asked these PSUs to look at acquisitions in the range of Rs. 1000-1500 crores, said a person in the know who did not wish to be named said.

The steel ministry has expressed concerns that most of these cash-rich PSUs have failed to close a deal despite ongoing talks with several foreign players .

When we say that the acquisition should be completed in the current financial year, it implies that these companies should complete the process of selection of the proposed asset to be acquired as well as due diligence and other steps for finalisation of the deal , Mr. Chaturvedi said.

The Government has made it clear that it is not necessary for these companies to acquire a 100% stake in the assets, thus giving them room to enter into partnerships of joint venture agreements.

International Coal Ventures Limited (ICVL), a joint venture between SAIL, Coal India Limited (CIL), RINL, NMDC and National Thermal Power Corporation (NTPC), was formed with an objective to acquire coal assets abroad to meet the increasing energy requirements of these companies.

ICVL was earlier looking at acquisitions in Australia , Canada, USA, Indonesia, Mozambique, Zimbabwe and South Africa.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - We Bring IT. Offshore software outsourcing company. We use Global Delivery Model (GDM) and believe in Follow The Sun principle

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions