Turnaround Investing

Blinkx

Blackrock raises stake in UK Internet media firm Blinkx to 13pct

New York, US-based investment management firm Blackrock raised its stake in UK-based Internet media firm Blinkx to 13% amid allegations that the latter was using adware to boost its revenues.

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StartNext

European film producers turning to crowdfunding, face different obstacles

Some European filmmakers that have turned to crowdfunding, which is still in its early stage in Europe, are facing a different set of challenges, Variety reported.

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BlackBerry

BlackBerry to sell off majority of its real estate holdings in Canada

Smartphone pioneer BlackBerry Ltd announced its intention to divest most of its real estate holdings in Canada through sale-leaseback and vacant asset sales in an effort to turnaround its fortunes.

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Sharp Corp

Japan's Sharp Corp extends reforms with plans for asset sales

Sharp Corp President Kozo Takahashi said the Japanese company intends to sell plants and stock holdings as it extends the reforms it had started in 2013, Bloomberg reported.

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Cattle farm

Hedge funds eye troubled Australian mining and farming companies

International hedge funds are increasingly targetting troubled firms in Australia, from cotton or macadamia farms to cattle stations and vineyards, expecting a nascent distressed debt market to generate double-digit returns.

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Co-operative Bank

Britain's Co-operative Bank completes £1B fundraising to finance its turnaround plan

Co-operative Bank and its parent Co-operative Group on Friday announced that it had successfully completed raising £1 billion for its rescue plan. The British bank with raise about £500 million more from Co-op Group, its bondholders and its interest savings to complete its target fund of £1.5 billion.

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Darty PLC

Darty exits Turkish business to stem losses

Darty, the third-largest electricals retailer in the European region, had agreed to sell Darty Turkey to eliminate losses in non-core markets. Darty has responded to weak consumer spending and competition from online retailers by exiting its loss-making operations.

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Stemcor

Banks sell Stemcor's loans to hedge funds-bankers

Lenders to troubled Stemcor, the world's largest steel trader, have been selling their exposure to hedge funds and distressed debt specialists before a key restructuring deadline on December 13, banking sources said on Monday.

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Co-operative Bank in central London

Co-op Bank wins retail investor approval for rescue

Retail bondholders of Britain's Co-operative Bank have voted in favor of a restructuring to rescue the bank and proceed with its plan to fill a 1.5-billion-pound hole in its capital.

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Bank of America Merrill Lynch

Bank of America Merrill Lynch leads in deals in India

Bank of America Merrill Lynch or BofAML has topped Citibank and Morgan Stanley in executing deals in India for the past 11 months, completing transactions worth USD 7.96 billion.

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PHYSIOTHERAPY ASSOCIATES COMMENCES UNANIMOUSLY SUPPORTED RESTRUCTURING TO STRENGTHEN FINANCIAL FOUNDATION

PHYSIOTHERAPY ASSOCIATES COMMENCES UNANIMOUSLY SUPPORTED RESTRUCTURING TO STRENGTHEN FINANCIAL FOUNDATION

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Rosneft petrol station, Moscow

Top deals of the day - M&As

The following bids, mergers, acquisitions and disposals were reported on Tuesday.

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Air France-KLM and Alitalia Planes

Air France-KLM considers Alitalia too indebted-source

Air France-KLM considers Alitalia to have too much debt, and the likelihood of the Franco-Dutch airline taking part in a capital increase at the Italian carrier is "very low", a source close to the matter told Reuters on Tuesday.

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US Airways

AMR CORPORATION AND US AIRWAYS ANNOUNCE SETTLEMENT WITH U.S. DEPARTMENT OF JUSTICE AND STATE ATTORNEYS GENERAL

U.S. AIRWAYS-NEW AMERICAN AIRLINES AGREED TO MAINTAIN ITS HUBS IN CHARLOTTE, NY, LA, MIAMI, CHICAGO, PHILADELPHIA, AND PHOENIX FOR A PERIOD OF 3 YEARS

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Etihad Airways

Etihad wins with Air Seychelles' growth, doubles international passenger traffic

Air Seychelles announced its record growth of its international business, thanks to its popular Abu Dhabi route.

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