British retailer Tesco's $110 million investment in Tata-owned Trent Hypermarket has received approval from India's Department of Industry Policy and Promotion (DIPP). This will pave the way for Tesco to get a clearance from the country's Foreign Investment Promotion Board (FIPB).
Asia/Pacific
China-based logistics firm EMS withdraws IPO application
China Postal Express and Logistics Co Ltd (EMS), the biggest integrated logistics service provider in China announced on Friday the withdrawal of its application for an initial public offering (IPO).
Qatar energy firm GIS to buy out Japan partner with 30% stake acquisition
Qatar-based oil and gas drilling company Gulf Drilling International (GDI) is poised to become a wholly-owned subsidiary of Gulf International Services (GIS) with the latter acquiring the entire 30% stake held by Japan Drilling Corp (JDC), according to a GIS spokesman.
Chinese banks seen rising in financial markets - report
The DealBook said in its report that banks in China are steadily making strategic acquisitions offshore and opening its businesses outside of the mainland, thanks to recent economic reforms.
Increased merger activity will carry over to next year - report
The general consensus of research firms and mergers and acquisitions (M&A) experts believed that the brisk activity of dealmaking will keep its momentum till the next year.
Latest News
Hyundai Motor Co. on Friday named sales chief David Zuchowski as the new chief of its US arm. Zuchowski will replace incumbent US chief John Krafcik, whose contract expires at the end of the year.
China's Oceanwide Real Estate Group will acquire a sprawling parking lot in downtown Los Angeles for $200 million to develop a five-star hotel, apartments and retail spaces.
Australian construction firm Leighton, is buyout out Welspun Group's 40% stake in the company in a $100-million deal (INR62 crore), according to a person directly familiar with the matter.
Japan-based gaming company Nintendo will temporarily take down its eShop for 12 hours beginning 4:00 pm Eastern Standard Time to remedy high traffic and merger issues, according to The Next Web.
Norway-based firm Telenor has bought additional shares worth INR1,000 crore in India-based telecom firm Telewings Communications, bringing its ownership in the Indian firm to 74%.
South Korean oil refiner operator GS Holdings Corp entered into an agreement with commodity trader LG International Corp to acquire a combined stake in STX Energy for $598 million.
Asian Development Bank President Takehiko Nakao expressed his confidence about Asia's economy should US Federal Reserve proceed with its plans to reduce its quantitative easing program.
Singapore-based asset management company Black River Capital Partners Food Fund Holdings (Singapore) Pte Ltd has increased its holding in Philippine-based food exporter AgriNurture Inc, according to a stock exchange disclosure.
Cork, Ireland-based consumer electronics distributor PCH International announced it has acquired Australian distribution company Conexus for an undisclosed amount to give its clients better access to the Australian and Asian markets.
