As per the agreement, the divestment will be made to a company, in which 70 per cent equity shares will be held by an entity controlled by HBIS and 30 per cent will be acquired by TSGH.
Indian shares advanced in line with other Asian peers on Friday, driven by gains in energy and financials, with Yes Bank Ltd jumping nearly 14 percent after the private-sector lender named a new chief executive officer.
Oil toiled at a more than one-year low after its worst month in a decade on Friday, while most major markets were keeping moves tight ahead of a weekend meeting between U.S. and Chinese presidents Donald Trump and Xi Jinping.
Domestic equities opened on a firm note Friday as the benchmark BSE Sensex surged over 150 points on the back of continued foreign fund inflow and appreciating rupee.
Battle lines are being drawn between Thailand’s military government and the populist movement led by ex-premier Thaksin Shinawatra as both sides attempt to outmanoeuvre the other before a general election due in 2019.
Indian shares edged lower in line with early weakness in Asian peers, due to losses in financials and healthcare stocks, but gains in oil marketers and an upbeat sentiment over a strong set of inflation data helped cap losses.
International Monetary Fund is not changing its forecasts for a recovery in Saudi Arabia’s economy in response to the furore over the death of dissident Jamal Khashoggi, a senior IMF official said.
China’s Premier Li Keqiang said that Beijing hoped a consultation with Southeast Asian nations on a code of conduct in the disputed South China Sea would be completed in three years, and that such an deal would bolster free trade.
Shares in Asian suppliers and assemblers for Apple Inc fell due to profit warnings that point to weakness in iPhone sales.
Indonesia’s biggest cement maker Semen Indonesia is buying the local business of Swiss company LafargeHolcim for roughly $917 million, in a move that will consolidate the struggling Indonesian industry.