CII to float global arm
New Delhi—The Confederation of Indian Industry, CII, is setting up a wholly owned subsidiary to create two distinctive brand identities.
The Confederation is setting up an exclusive international brand, CII-International, with a Rs 5 crore budget to spearhead its entry into global business and policy management and the erstwhile CII president and vice-chairman and senior MD, SRF, Arun Bharat Ram, is being entrusted with the task of managing the international operations.
On the advice of the Boston Consultancy Group CII is overhauling its organisational structure.
CII is the first industry organisation to restructure its organisation on broad corporate management principles and adopt a clear brand strategy.
CII already has 11 overseas offices and is planning to open several more this year. New offices have recently opened in Hong Kong, Kuala Lumpur, Hungary, Brussels and Tel Aviv.
CII now plans to reopen its office in Japan — though this time it will be located in Tokyo and not Osaka.
The Confederation has roped in top corporate honchos like Ratan Tata to head the Indo-US CEO’s Forum and N R Narayana Murthy to lead the IndoBritish Partnership.
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EU clears cross-border takeovers rules
Brussels—European Union lawmakers have cleared the way for a long-awaited common set of rules on cross-border takeovers.
This completes 12 years of work as officials from the 15 EU governments, the European Parliament and the EU Commission - the EU executive branch - agreed on the accord less than 24 hours before a make-or-break deadline.
The pact will go to governments and the parliament for approval over the coming weeks, with a final OK expected in July.
The rules would limit measures common in some EU countries designed to thwart cross-border acquisitions. They would also increase minority shareholder protection by obliging a company seeking to take over another to make an offer for all shares held by minority investors of the takeover target.
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