
Indore metro breaks records in Indian rail development

Tata Tech to Acquire ES-Tec in EUR 75 mn Buyout
Tata Technologies, the global product engineering and digital services company, has announced its plans to acquire a 100 per cent stake in Germany-based ES-Tec Group for EUR 75 million (over Rs 775 crore). The deal, structured as a complete buyout, will be executed over the next two years and includes performance-based earn-outs.Headquartered in Wolfsburg, ES-Tec Group was founded in 2006 and has grown into a premier automotive engineering services provider. The company has built a reputation for deep expertise in Driver Assistance Systems (ADAS), Connected Driving, and Digital Engineering. It..

Adani Ports to block vessels under US, UK, EU sanctions
The Adani Group has barred vessels subject to sanctions by the United States, United Kingdom, and European Union from docking at its ports, according to an order reviewed by Reuters. The move is intended to protect the group’s legal and commercial interests at a time when international shipping is under increasing scrutiny.The directive stated, “To safeguard the legal and commercial interests of the Port, we hereby emphasize that sanctioned vessels are not accepted.” It also instructed that vessel agents must provide a written undertaking confirming that their ships are not subject to sa..

Tega-Apollo consortium to acquire Molycop for $1.5 bn
Tega Industries, in consortium with funds managed by affiliates of Apollo, entered into a term sheet on September 10 to acquire Molycop, a leading global supplier of grinding media for the mining industry. The deal, valued at $1.5 billion, will be executed with American Industrial Partners (AIP) as the seller.According to a stock exchange filing, the company noted, “This strategic, complementary acquisition will establish Tega Industries as one of the world’s leading designers and manufacturers of ‘critical-to-operate’ consumables for certain production steps in the mining, mineral pro..