Business mergers and Acquition - Current Affairs Questions and Answers

ANSWER: 21st Century Fox

Explanation:
21st Century Fox has announced on 5th January 2016 that it has agreed to purchase a minority stake in leading headwear maker for virtual and augmented reality, Osterhout Design Group. This news comes against the backdrop of hit film “The Martian” in which Matt Damon plays a earth space traveller left behind by shipmates on the red planet.

ANSWER: Kuoni Travel India Pvt Ltd

Explanation:
Clearance has been received from the Competition Commission of India by Thomas Cook India Ltd along with wholly owned subsidiary Travel Corporation India Ltd to complete the acquisition of 100% stake in Kuoni Travel India Pvt Ltd. Transaction was formally concluded on 16th December and the deal worth INR 535 crore was announced in early August 2015 and Thomas Cook India has said the transaction will close in the third quarter of the current financial year. Thomas Cook will gain control over Kuoni’s India and Hong King Operations and acquisition now allows the acquiescing company to use the SOTC brand (including SITA) forever, which has been the Kuoni brand for 12 months in India and 5 years in Hong Kong.