Henkel is the front runner for the vacant ThyssenKrupp Chairman position. Ulrich Lehner, former Henkel CEO is tabbed to be the next chairman at ThyssenKrupp.
Archives
Sistema Shyam Wins Bid
Sistema Shyam Teleservices wins bid in eight telecommunication zones. The Indian mobile phone subsidiary of Sistema, Sistema Shyam TeleServices has won the right to operate in eight telecommunication zones in India.
Walter Energy to cut budget sell assets
Walter Energy set to sell assets and cut budget for 2013. In the middle of a disagreement with a British investor who is calling for the replacement of majority of the board members, Walter Energy Inc mentioned plans of shutting down mines that are not generating income.
Hostess Creditors and Buyout Firms Interested in Twinkies
Hostess Brands now being bidded on. The main creditor of Hostess Brands, Silver Point Capital and hedge fund firm Hurst Capital have expressed interest in purchasing Hostess snack cakes brands according to a report by the New York Post.
E.ON Denies Spin Off Plans
E.ON still on its plan to divest non-performing assets. The largest utilities service provider in Germany E. ON has denied reports that it would spin off its renewable energy unit in order to reduce outstanding debt of in its balance sheet.
Latest News
CEDC is receiving offers for purchase from Russian billionaires. The rivaling offers from Russian billionaires to rescue the Polish vodka maker CEDC is spurring rumors that the company would be able to stave off bankruptcy.
Investment Dar sells off stake to pay debts. The controlling shareholder for Aston Martin, the British car maker is Investment Dar Co. The company has agreed to sell its stake in the beleaguered Bahraini Islamic Bank for US$92 million as the company restructures its debts.
Bank extends loan to DAFZA Dubai Airport Freezone (DAFZA) was granted a credit line of AED500 million (US$136million) by Abu Dhabi Islamic Bank (ADIB).
UAE company manages Australian expansion of Baskin-Robbins. The world's most well-known and largest chain of ice cream specialty shop, Baskin-Robbins, has released a statement regarding its plans to open another 200 shops in Australia.
Tiger Global buys Cobone. The largest daily deal company in the Middle East, Cobone. com was purchased by Tiger Global Management. The international investment firm gave additional funds to the Middle East Company to expand its long term obligations at home.
Dubal and Sinoway Forges Partnership. It was reported Saturday that Dubal or Dubai Aluminium has purchased a twenty percent share in a joint venture project in China.
Hanmi sales discussions stalled with rival banks over valuation and management. Discussions for the sale of Hanmi Financial Corp have stalled because of a number of disagreements over management and price per share.
Chesapeake files suit against BNY Mellon. Chesapeake Energy Corp has gone to court to sue its trustee Bank of New York Mellon Corp seeking redemption of more than US$1.
KKR buys Gardner Denver for US$3.74 billion. Gardner Denver Inc had agreed to be sold to KKR and Co LP for the price of US$3. 74 billion. Industry experts though still have lingering doubts as to the valuation of the company as it was undeevalued because of the sale.
