Reliance Industries ropes in Navin Wadhwani head M&A activities

Reliance Industries ropes in Navin Wadhwani to head M&A activities

12:11 AM, 27th August 2011
Reliance Industries ropes in Navin Wadhwani to head M&A activities
Mukesh Ambani, Chairman of Reliance Industries.


MUMBAI, INDIA: Mukesh Ambani led Reliance Industries Limited (RIL), has decided to bring in Navin Wadhwani, Ex-Managing Director at NM Rothschild and Sons (India) Pvt Ltd, to head its new mergers and Acquisition (M&A) division. Wadhwani will be responsible for setting up a dedicated M&A team for RIL that will most likely take on operations previously headed and managed by Chief Financial Officer, Alok Agarwal and Manoj Modi; who led the recent deal between RIL and BP Plc.

Navin Wadhwani comes with 20 years of experience in advising on financial restructuring of electricity and infrastructure based industries. He has overseen many key cross-border M&A deals and will now head he same for Reliance Industries.

Reliance Industries has been growing steadily in terms of size and scale and is looking to acquire more businesses for inorganic growth. It is looking to expand into diverse areas and effectively utilize capital assets. “We are gearing up for the next phase of growth through a combination of our own initiatives and forging new partnerships with leading companies of the world,” said Mukesh Ambani, Chairman of RIL, speaking at the 2010-11 AGM.

Reliance Industries has been charting numerous significant deals since last one year, including acquisition of Infotel Broadband Services in 2010 that marked its entry into telecom sector, joint ventures with US based investment and technology development firm DE Shaw and Co, acquisition of Bharti Group’s 74 per cent stake in two insurance joint ventures with France’s AXA Group, joint ventures with US based energy majors Chevron, Pioneer and Carrizo for acquiring shale gas assets and its much acclaimed deal with London based energy giant BP plc that is set to bring in one of the largest FDI seen in Indian energy quarter.

(C) WOC News




Your Comments (Up to 2000 characters)
Please respect our community and the integrity of its participants. WOC reserves the right to moderate and approve your comment.

Related News

Air Liquide and Shenhua Ningxia Coal to build second MTP plant

  PARIS, FRANCE: Air Liquide said its engineering and construction division has signed a contract with Shenhua Ningxia Coal Industry Group in Ch ...

Read more
PPG to form fibre glass joint venture with Harsha in India

  PITTSBURGH, US: PPG Industries has signed a letter of intent with Harsha Exito Engineering Pvt Ltd (India) to establish a 50-50 joint venture ...

Read more
Yale researchers use genetic code to engineer a living protein

  NEW HAVEN, US: Yale University researchers have successfully re-engineered the protein-making machinery in bacteria, a technical tour de force ...

Read more
Scientists trace gecko footprint, find clue to glue

  AKRON, US: Geckos’ ability to scamper up walls with ease has long inspired scientists who study the fine keratin hairs on these creature ...

Read more
Merck appoints Robert Yates from Roche to lead Merck Millipore division

  DARMSTADT, GERMANY: Merck KGaA appointed Robert Yates as President of the Merck Millipore division as of September 1, 2011. He will report to ...

Read more
KBR bags Zeon Chemicals’ nitrile rubber plant expansion contract

  HOUSTON, US: KBR was awarded a contract by Zeon Chemicals (Zeon) to provide construction management and services for its nitrile rubber plant ...

Read more uses cookies to ensure that we give you the best experience on our website. By using this site, you agree to our Privacy Policy and our Terms of Use. X