Tata Sons Ltd., which runs more than 1,000 companies that make cars to chemicals and salt, withdrew an application for a banking license in India, saying its current financial-services business best suits its needs.
Abbott Laboratories will buy Piramal Healthcare Ltd. ’s branded generic-medicine unit in India for $3.72 billion, making it the country’s biggest drugmaker and tapping into a market expected to more than double by 2015.
Super Religare Laboratories Ltd. , controlled by billionaire brothers Malvinder and Shivinder Singh, agreed to buy Piramal Healthcare Ltd. ’s diagnostics unit for 6 billion rupees ($129 million) to become India’s largest provider of laboratory services.
Indian billionaire Ajay Piramal may spend $1 billion to acquire biotechnology and defense assets for his health care-to-real estate empire. Investment bankers are unlikely to get a share of that money.
Indian billionaire Ajay Piramal acquired a 10 percent stake in Shriram Transport Finance Ltd., a domestic truck-financier, for 16.52 billion rupees ($303 million) to expand his financial services business.