Reuters could not independently ⁠verify the report.

The post Uber to acquire additional 4.5% stake in Delivery Hero: FT first appeared on M&A Critique.

The company has acquired Nordexim MV International, a coffee manufacturing (OEM) and packaging facility in Romania, reinforcing its ability to deliver Indian coffee to global markets through integrated private label solutions. Shyamprasad Kodimule, Founder and President, Vidya Herbs, said, “This strategic step strengthens our global presence and enables us to expand India-produced coffee across key international markets.”

The acquisition strengthens VIDYA’s coffee business by establishing a European presence and expanding access to key international customers. It also enhances proximity to customers, optimises supply chain efficiency, and accelerates global expansion of Indian coffee in market-ready formats.

Backed by its ‘Berry to Cup’ approach and integrated manufacturing and packaging capabilities, VIDYA delivers customised, high-quality coffee solutions aligned with evolving global consumer preferences.

This development advances VIDYA’s global coffee strategy and positions it as a trusted partner in the international coffee value chain.

Coffee as a flagship growth engine

While Vidya Herbs built its global credibility through botanical science, coffee has emerged as one of the company’s most important growth drivers. Entering the coffee sector in 2014, VIDYA positioned itself not as a trader but as an integrated processor, beginning with green bean exports from Chikmagalur and steadily evolving into a structured and scalable coffee business.

Today, Vidya Coffee ranks among India’s leading coffee producers and exporters, a position earned through manufacturing depth rather than market opportunism. The company states that it processes approximately 20,000 tonnes annually in India, complemented by an additional 5,000 tonnes at its Uganda facility. Further strengthening its capabilities, the Belur manufacturing unit in Karnataka has added 40,000 tonnes of processing capacity while generating more than 500 direct jobs.

This scale reflects a deliberate strategy to control the entire coffee value chain, from sourcing and curing to roasting, instant coffee production, and global exports.

Unlike fragmented export models, VIDYA has built deep vertical integration, supported by advanced processing technologies, quality profiling systems, and customisation capabilities. This enables the company to serve global F&B and FMCG brands that demand consistency, sensory precision, and regulatory compliance across markets.

Beyond scale, the focus is on value-added solutions. Research-driven coffee profiling, process optimisation, and stability validation have strengthened VIDYA’s position in premium and customized beverage solutions. By combining agronomic expertise with industrial processing, the company operates at the intersection of agricultural heritage and technological precision.

This approach aligns with evolving global consumption trends, where demand is rising for functional beverages, ready-to-drink formats, and clean-label instant coffee. In this landscape, manufacturers capable of delivering scalable, application-ready coffee solutions are becoming strategic partners to global brands.

VIDYA’s coffee vertical reflects a clear transition from commodity exports to value-added, globally compliant solutions. With its expanding international footprint, including its European manufacturing presence, the company is strengthening its ability to serve global markets with greater agility, scale, and proximity to customers, reinforcing its role as a long term partner in the international coffee ecosystem.

The post VIDYA strengthens global coffee presence with acquisition in Romania first appeared on M&A Critique.

Senior Advocate Abhishek Manu Singhvi, appearing for the Resolution Professional (RP) said an e-mail dated September 5 circulated to all bidders only conveyed the highest financial value discovered during the challenge process, and did not constitute an official declaration of a successful bidder.

He alleged that Vedanta’s claim of being the highest bidder amounted to “suppression of material facts,” arguing that its petition lacked a legal and factual basis. Singhvi further told the tribunal that the case presented by the mining group was “completely without foundational facts.”

“It is a perfectly simple, valid e-mail pointing out what will happen in future. When you do this, then we will evaluate. It’s very simple and straightforward,” he said during the proceedings of the appellate tribunal.

Singhvi said the e-mail does not say that Vedanta is the highest bidder.

A two-member NCLAT bench observed that the e-mail “only communicates that the highest value as per the identifying criteria is Rs 12,505 crore on NAV basis…”

Replying to it, Singhvi said this is only a disclosure that the highest NAV (Net Asset Value ) was shown as Rs 12,505.850 crore.

“I cannot prevent what you think. But you cannot start thinking that this is a declaration of the best. It is a disclosure that you have a Rs 12,000 crore NAV. Now, if you start imagining things in your favour, then it is not my problem,” he said questioning, “why nobody else misunderstood it”?

Vedanta has submitted that its bid was above NAV.

Singhvi further said the Committee of Creditors evaluated plans on a combined quantitative and qualitative matrix, not just on the highest NPV or headline bid amount.

Vedanta, in its two petitions challenging the lenders’ decision to accept Adani’s takeover offer, had contended that its addendum bid is about Rs 3,400 crore higher in gross value terms and roughly Rs 500 crore more in net present value (NPV) compared with the Adani Group’s offer.

Singhvi said it was decided based on a total score of 100, in which the quantitative score was 80 and rest 20 was of qualitative score.

This parameter was not made for Adani or Vedanta, but this evaluation matrix has been followed in several cases. This is known as a holistic evaluation, not a unifocal evaluation on a single parameter and it is always better to have this, he said.

Over Vedanta claims for not giving any chance to match Adani bid, Singhvi while reading the terms and conditions before NCLAT, said the challenge process barred any post-closure revision.

He further said Vedanta’s November 8 addendum was an impermissible unilateral revision. After being informed on November 7 that voting would proceed, the appellant tribunal submitted a revised addendum on November 8, which was contrary to the agreed rules.

“Allowing such a revision would violate fairness and level playing field. If one applicant were allowed to revise after closure, all applicants would have to be given the same chance, defeating finality of the process.

He also stressed that the commercial wisdom of COC is not open to re-evaluation.

After the conclusion of RP’s arguments, the bench, comprising Chairperson Justice Ashok Bhushan and Member (Technical) Barun Mitra has posted the matter for the next hearing on Monday.

Solicitor General Tushar Mehta, who is appearing for banks, will start his arguments from Monday.

Vedanta has filed two petitions, challenging the March 17 order by the Allahabad bench of NCLT, which approved Adani Enterprises’ Rs 14,535-crore bid to acquire JAL through the insolvency process.

On March 24, NCLAT declined any interim stay on the order passed by the NCLT approving the Adani Group’s bid for acquiring JAL.

However, it said the plan would be subject to the outcome of the appeals filed by the Anil Agarwal-led Vedanta Group.

This interim order by NCLAT was challenged before the Supreme Court, which also declined to grant a stay. However, the apex court had directed that if the monitoring committee planned to take any major policy decision, it should first obtain the tribunal’s sanction.

The post Vedanta was never declared highest bidder for Jaiprakash Associates: RP to NCLAT first appeared on M&A Critique.

The Group also plans to expand capacity across its facilities and actively pursue further acquisition opportunities in key global markets like Western Europe, Japan, and China.

Founded in 1977 and initially representing global manufacturers in India, the company gradually expanded into manufacturing, beginning with flat thread rolling dies in 1987. Over the years, Kadimi diversified further, entering the production of cold heading wire in 2013.

In 2024, the company ventured into fastener manufacturing, and the acquisition of Rol-flo Engineering – its first outside India – will complement Kadimi’s existing product portfolio, according to Managing Director Sahil Nath.

Rol-flo Engineering is a pioneer in form rolling dies and provides Kadimi with a US manufacturing base, and greater access to the fast-growing aerospace market.

The post Kadimi Group expands global footprint first appeared on M&A Critique.

The post DIPAM approves merger of NBCC and HSCC (India) first appeared on M&A Critique.

American Airlines said on Friday that it was not interested in a merger with United Airlines and had not held any such talks, diminishing prospects of an ​industry-reshaping deal that would face tough regulatory scrutiny.

A combination of two of the ‌largest U.S. network carriers would mark the biggest consolidation move in more than a decade, further tightening a domestic market already dominated by four similarly sized players. Including international flights, United and American were already the world’s ​two largest airlines by available capacity in 2025, according to OAG data.

That scale would, ​however, invite extraordinary scrutiny from regulators, labor unions and consumer advocates wary of ⁠higher fares and reduced competition, leaving the deal with slim chances of approval, analysts and industry ​officials have said.

There is also significant overlap between American and United, including Chicago O’Hare and major ​hubs in Texas.

“While changes in the broader airline marketplace may be necessary, a combination with United would be negative for competition and for consumers,” American Airlines said, adding that such a deal would be inconsistent with its ​understanding of the Trump administration’s approach to antitrust enforcement.

United Airlines declined to comment, while the ​White House did not immediately respond to a request for comment.

The White House has previously said it has ‌no opinion ⁠on a potential United Airlines deal for American Airlines.

United Airlines CEO Scott Kirby pitched the potential for merging with American Airlines in a meeting with U.S. President Donald Trump in late February, Reuters reported on Monday.

The meeting with Trump was three days before the start of the U.S.-Israeli ​war with Iran that ​sent jet fuel prices ⁠soaring and has led airlines to raise fares and fees to offset higher costs.

Kirby has argued to administration officials that a combined airline ​would be a stronger competitor in international markets and noted the Trump ​administration has ⁠focused on U.S. trade deficits around the globe, according to sources.

But one person close to the White House had told Reuters there was skepticism about such a tie-up, given its potential impact on ⁠competition and ​ticket prices at a time when the administration is ​already focused on rising costs for consumers ahead of midterm elections in November.

The post American rejects merger talks with United Airlines first appeared on M&A Critique.

Budapest-listed Premier Energy ​has agreed to buy Evryo ‌Group’s power distribution network from Australia’s Macquarie for about 700 million ​euros ($824.39 million), the companies ​said on Friday.

The European energy provider ⁠will acquire control of ​Distributie Energie Oltenia, a regulated ​electricity distribution network active in the south-western Romanian region of Oltenia, from Macquarie’s ​asset management arm.

Premier Energy ​said it is considering a potential bond ‌offering ⁠to fund all or part of the deal, which is expected to address the current ​gap in ​electricity ⁠distribution within the company’s principle market, Romania.

The transaction ​is expected to reach ​financial ⁠close in the second half of 2026, the companies said ⁠in ​separate statements.

The post Premier Energy to buy Macquarie’s Romanian power distribution network for $824 million first appeared on M&A Critique.

The cross-border framework, approved last month as part of amendments to the Insolvency and Bankruptcy Code (IBC), will be based on a model UN law with modifications to suit the Indian context.

It seeks to enable easier access for creditors to overseas assets of stressed companies and allow India to seek cooperation from foreign courts to bring such assets under insolvency proceedings.

The need for such a framework emerged during bankruptcy proceedings involving Amtek Auto, Videocon Industries, Essar Steel and Jet Airways, where issues such as asset location and complex cross-border procedures delayed resolution.

The corporate affairs ministry will begin framing cross-border insolvency rules soon. To ensure parliamentary oversight, a draft of every rule will have to be laid before each House of Parliament, as per the amended IBC.

Rules to enable easier access for creditors to global assets of stressed cos and allow cooperation from foreign courts

“The special bench is necessary for time-bound insolvency proceedings,” one of the people told ET.

“We can’t have a situation where a foreign adjudicating authority hearing the insolvency case is moving fast and we are lagging,” he said. Advanced jurisdictions, including Singapore, are known for time-bound resolutions.

The proposed NCLT bench will have members trained in cross-border insolvency resolution, the person said.

Model UN framework

The United Nations Commission on International Trade Law (UNCITRAL) for cross-border insolvency resolution has been adopted by more than 50 jurisdictions.

It is based on principles such as access to foreign and domestic courts by resolution professionals, recognition of foreign proceedings, cooperation between courts, and coordination of multiple concurrent insolvency proceedings. Ratifying countries are allowed to firm up rules, depending on their peculiar context, on the basis of this model law.

“A special bench will result in faster resolution of cross-border insolvency cases. This will brighten the chances of recovery for creditors as well,” said Yogendra Aldak, executive partner at Lakshmikumaran & Sridharan attorneys.

Earlier, the IBC provided for cross-border insolvency through bilateral agreements and letters of request issued by the NCLT to foreign courts under Section 234. However, this mechanism was ad hoc and prone to delays and uncertainty.

The post India plans special NCLT bench for cross-border insolvency cases to speed up resolutions first appeared on M&A Critique.

Most deals are expected to be mid-sized, as companies in emerging segments have yet to achieve meaningful scale. The possibility of a large deal cannot be entirely ruled out, though it remains less likely, they said.

The last large transaction in the sector came in 2024, when Star India and Viacom18 merged to form an $8.5 billion media behemoth. Another potential industry-shaping deal, between Sony Pictures Networks India and Zee Entertainment, was called off due to regulatory pressures and disagreements over leadership.

“Deal volume in 2026 will be driven by factors such as scale/ market share, efficiency and IP value. AI assets with global use cases will be prominent targets. Traditional businesses desirous of expanding their offerings to sustain their relevance will also drive acquisitions and/or partnerships,” said EY India leader media and entertainment practice Ashish Pherwani.

According to EY’s M&E report, deal volumes rose 8% to 105 transactions in 2025 from 97 in 2024. However, total deal value declined 76% to Rs 20,700 crore from Rs 86,700 crore, largely due to the absence of large-ticket deals such as the Star-Viacom18 merger.

Excluding that transaction, the EY report noted that 2025 deal value reflected a 27% increase over the adjusted 2024 base, indicating underlying momentum.

Mid-sized transactions in the Rs 100–500 crore range more than doubled year-on-year, signalling a build-up of scalable assets, as per EY. Large deals above Rs 500 crore were limited to six but accounted for 73% of the total value, underscoring continued concentration.

“Most deals are likely to be in the Rs 500–1,000 crore range, while larger transactions, if they materialise, are unlikely to exceed $500 million to $1 billion. This is because much of the consolidation in traditional media has already taken place, and in digital space there is no scale as it is dominated by tech giants,” said Elara Capital executive vice-president Karan Taurani. “That said, there is a long tail in segments like linear TV, OTT and cinema exhibition which will start seeing consolidation.”

EY data show deal volumes were dominated by new media, while deal value remained concentrated in traditional segments. Digital media and sports accounted for 60% of the deal volume, while gaming, sports, VFX and AI contributed nearly three-fourths of the value.

The report said the next phase of value creation will be driven by content, IP and platform consolidation, followed by gaming and sports, particularly in premium franchise ecosystems, as well as AI-first companies. The digital advertising ecosystem is also expected to see increased M&A activity.

The post Mega deals less likely, but media M&A show to stay strong in 2026 first appeared on M&A Critique.

The acquisition will allow Wipro to expand its portfolio beyond hydraulic cylinders and enter the hydraulic attachments market.

Established in 1976, Indeco manufactures hydraulic hammers, mulching heads, shears, and other demolition-related attachments for the construction, demolition, and recycling industries. The company operates seven manufacturing facilities in Italy and one in the US.

“This acquisition adds attachments to our current hydraulic cylinder portfolio thereby broadening our customer offering. Our value proposition is enhanced with the expanded manufacturing & distribution footprint and talent. Wipro Hydraulics and Indeco each brings a 50-year legacy, with strong product positioning built on innovation, quality, reliability, and customer service,” Wipro Hydraulics President Sitaram Ganeshan said.

Despite the stake buyout, the founding Vitulano family will remain operationally involved in Indeco.

Indeco CEO Susanna Vitulano said Wipro is the “perfect partner” to nurture the company’s next phase of growth.

“Indeco will leverage enhanced R&D capabilities and a vast global network to further develop its existing organisation and products,” she said.

Wipro Hydraulics designs and manufactures custom-built hydraulic cylinders for diverse segments like construction and earthmoving, material and cargo handling, forestry, farm and agriculture, mining, and truck tipping solutions.

The post Wipro Hydraulics to acquire majority stake in Italy’s Indeco Ind Spa first appeared on M&A Critique.