ABB Holding (South Asia) was given a go-ahead to acquire 49 per cent stake in German subsidiary CG Elsag Bailey Ltd at an investment of Rs 100 crore by the Foreign Investment Promotion Board (FIPB).

ABB has also been permitted to issue 6,90,000 participative cumulative preference shares for Rs 100 each to its parent company Asea Brown Boveri (Zurich).

The proposal of Dominos to hike the foreign equity to 32.1 per cent from 25.1 per cent by pumping in Rs 12 crore additional investment was also cleared by the board, industry ministry sources said.

The investment in Domino's would be made through India Private Equity Fund (Mauritius) taking the total foreign equity in the company to Rs 38.5 crore. Vam Organics of the Bhartiya Group has majority stake in the company in which Indocean Pizza Holding also has a stake.

American Express will pick up 35 per cent stake in Tata Finance's new venture to carry out money changing activities at an investment of $1.5 million.

The proposal of floatglass to issue convertible redeemable preference shares to Asahi Glass Company of Japan involving a foreign investment of Rs 19 crore was approved.

Consultancy and technicals services company BHPE Kin Hill International (Singapore) will buy out the stake of its Indian partners AMM Consultants and Dinesh Vyas thereby increasing its stake to 100 per cent from 85 per cent. It will bring in an additional foreign investment of Rs 30 lakh.

In the software sector, eight proposals involving foreign investment of Rs 5 crore were approved. The companies, whose investment proposal were approved, are IIS Software Systems, Mphasis Software and Services, Apex Advanced Technology, Sharp Software Development Private Ltd, Dina Informed Systems, Deneb Hitech India, All India On-line and Treasre Solutions Private Ltd.