Adani Enterprises Acquires Kolkata Based SIBIA Analytics
Adani Enterprises Limited (AEL) on Friday informed the stock exchange that it has signed a binding term sheet to acquire a 100 percent stake in Kolkata-based SIBIA Analytics. The exchange filing states that, “The board of directors of SIBIA, immediately upon closing, shall comprise of such number of directors as may be decided by the purchaser (AEL).” The advanced analytics and machine learning company was founded by CEO Angshuman Bhattacharya. Adani Enterprises crossed Rs 3 trillion market capitalization in August this year, becoming the fourth group to achieve the milestone after the stock surge of over 57 percent. The media arm at Adani Group had earlier announced its plan to purchase a 29.18 percent stake in NDTV, making an open offer to acquire the additional 26% of the shares in the firm. The acquisition of 29.18% stake will be made through Vishvapradhan Commercial Pvt Ltd, a subsidiary of AMG Media Network Ltd. Abu-Dhabi-based global strategic investment company International Holding Company PJSC (IHD) announced the completion of an investment transaction in the Adani portfolio companies – Adani Transmission Ltd (ATL), Adani Green Energy Ltd (AGEL), and Adani Enterprise Ltd (AEL) – with an investment worth Rs 15,400 crore (around $2 billion).
The exchange filing states that, “the Board of Directors of SIBIA, immediately upon closing, shall comprise of such number of directors as may be decided by the purchaser (AEL)”
The exchange filing states that, “the Board of Directors of SIBIA, immediately upon closing, shall comprise of such number of directors as may be decided by the purchaser (AEL)”
["Mergers and Acquisitions"]
["API", "machine learning", "programming_languages:R", "analytics", "Mergers and Acquisitions", "R"]
["machine learning", "analytics", "R", "API", "programming_languages:R"]
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