British pharmaceutical corporation GlaxoSmithKline on Monday announced that it would buy up to 20.6 million shares in Indian subsidiary GlaxoSmithKline Pharmaceutical Ltd. for a total of $1.02 billion.
Asia/Pacific
Christie's marks expansion in India with Mumbai art auction
Christie's International Plc is said to be conducting its first auction of artworks in Indian soil, and will highlight modern master Tyeb Mehta's (1925-2009) work entitled "Mahishasura."
Bitcoin's $1000 hit came from online sex industry - report
A report noted that speculators who are looking to acquire Bitcoins by selling sex through certain Reddit subsections are rising at an alarming rate.
Afghanistan woos corporate India amid concerns over US pact
Indian investors at a December 14 speech by Afghan President Hamid Karzai were not convinced that the latter's country is safe enough to carry out their investment plans, according to a Bloomberg report.
Robinsons Retail buys local operator of Shiseido, Benefit cosmetic unit in the Philippines
Robinsons Retail Holdings Inc. has bought Beauty Skinnovations Retail Inc. (BSRI) for an undisclosed sum. BSRI operates the Philippine stores of Japan's Shiseido Co. Ltd. and US' Benefits Cosmetics LLC.
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Sources said that American International Group is close to a deal to make its exit from International Lease Finance Corp. to Netherlands' AerCap Holdings NV. Under the deal, AIG will reportedly receive $3 billion in cash and $2.4 billion in stock.
Asia Pacific Stock Exchange (APX), a new bourse that aims to lure Chinese firms, has received final approval from the Australian Securities and Investments Commission to start operating.
A report by Grant Thornton, an American accounting and advisory firm, said that Indian corporations closed as many as 393 private equity deals totaling $9.67 billion in the past 11 months of the year.
The initial takeover proposal of AU$752 million from Senex Energy was rejected by oil and gas exploration and production firm AWE Ltd.
Royal Dutch Shell's exit of its stake in Australia-based Woodside Petroleum Ltd may enable Asian buyers, particularly China, to get a stake of or even acquire the whole company, Bloomberg reported.
The impending sale of Woori Investment & Securities Co may spur consolidation in South Korea's local securities industry. Final bids for the brokerage unit are due today.
The following bids, mergers, acquisitions and disposals were reported on Friday including ITC Holdings, Dave & Buster, Time Warner Cable, Banca Etruria, Cube Capital, Cargolux, Simon Property and Versace.
At a luncheon meeting hosted by Keidanren lobby group and the Japan Chamber of Commerce and Industry, corporate leaders expressed the key importance of the Association of Southeast Asian Nations for the revival of the Japanese economy.
On Saturday, the Chinese State Council said that it has instructed the China Securities Regulatory Commission to life the approval restrictions on small and medium-sized companies with less than 200 shareholders.
