Rio extends budget after impasse with Mongolian government over mining project. The Rio Tinto subsidiary overseeing the Oyu Tolgui gold and copper project, Turquoise Hill Resources Ltd had announced that an extension on construction funding has been provided while discussions are ongoing with the Mongolian government to find a settlement for their dispute.
Archives
Puerto Rico's Popular Inc to Sell $568 Million Non-Performing Loans Portfolio
The lender is in discussion to make sale of its non-performing loans portfolio to a joint venture. Puerto Rican lender Popular Inc. announced that it has plan of selling portfolio of non-performing loans worth $568 million to a joint venture between Caribbean Property Group and Perella Weinberg Partners-affiliated funds.
AIG is Private Again
AIG divests US government of shares over the company. American International Group Inc or AIG has recovered from the 2008 financial crisis after buying out the US government's last financial interest in the formerly beleaguered firm.
Best Buy Rejects Plan
Best Buy closes door on takeover bid of its founder. The latest offer from its minority ownership was considered 'poor' by Best Buy Co. , prompting it to reject the bid by Richard Shulze's private equity sponsors.
Danfoss Signs Definitive Merger Agreement with Sauer-Danfoss
Under the definitive merger agreement, Danfoss will acquire 24.4% of Sauer-Danfoss common shares that it does not already own.
Latest News
New Thales CEO projecting future of company. Newly appointed Thales SA Chairman and Chief Executive Officer Jean-Bernard Levy has been on the job for the last two and a half months.
Herbalife expands board to eleven directors for Icahn investment. Herbalife has agreed to increase its board membership by two seats to be chosen by Carl Icahn.
Sandridge Oil posts a 'happy' fourth quarter loss. Oil and gas company Sandridge Energy announced a fourth quarter loss while at the same time bucking criticism from its line of activist investors.
Consortium led by Carlyle Group purchases China's 7 Days Hotel chain. Chinese budget hotel chain 7 Days Group Holdings Ltd has reached a deal with a consortium of investors led by the Carlyle Group.
Morgan Stanley, Main Street and Zions provide financing for OneRoof Energy. A group consisting of Morgan Stanley, Main Street Power Co and Zions Bancorporation has provided OneRoof Energy Inc with a US$100 million facility to enhance its current operations in providing financing for residential solar energy systems.
Nomura divests property interests for more liquidity. Nomura Holdings Inc has announced that it would lessen its exposure in Nomura Real Estate Holdings through a deal that will amount to US$577 million.
Bertelsmann would completely own BMG when it buys out KKR. The largest media company in Europe, Bertelsmann is buying out the stake of private equity firm KKR from their joint venture music rights management company BMG.
Nomura is now in search for new candidates to fill in vacant slots after several executives left the company as a result of cost control.
ING Groep is looking forward to set sale of its stake in the Brazilian insurance company as it faces pressure to shed assets in exchange for the state bailout it received during 2008 financial recession.
