Linde, Praxair reach agreement on details of merger
FRANKFURT German industrial gases group Linde and U.S. peer Praxair have reached a deal in principle on details of their proposed $70 billion merger, Linde said on Wednesday.
MUMBAI Piramal Enterprises Ltd(PIRA.NS) said it agreed to buy a 20 percent stake in unlisted Shriram Capital Ltd for 20.14 billion rupees ($334 million), increasing its foothold in the financial services sector.
Shriram Capital is the holding company for the Chennai-based Shriram group, which controls Shriram Transport Finance Co Ltd (SRTR.NS) and Shriram City Union Finance (SHCU.NS).
U.S-private equity firm TPG Capital holds a minority stake in Shriram Capital. Piramal last year bought a 9.9 percent stake in Shriram Transport.
Earlier this month, Piramal agreed to sell its 11 percent stake in the Indian unit of Vodafone Group Plc (VOD.L) to the British group for 89 billion rupees ($1.48 billion).
(Reporting by Aradhana Aravindan; Additional reporting by Indulal PM; Editing by Anand Basu)
HONG KONG/BEIJING Chinese state-owned Sinochem and ChemChina are in merger talks to create the world's biggest industrial chemicals firm, to be headed by Sinochem chief Ning Gaoning, four people with knowledge of the negotiations said.