Illinois intends to sell USD350 million in general obligation bonds in a sale initially slated on December 12. Illinois legislators are set to vote on a pension reform bill that could save the state around USD160 billion in 30 years.
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DAMAC raises USD348 million in London listing debut
Dubai property firm DAMAC raised USD348 million in its first trading day in the London Stock Exchange. A week ago, DAMAC reduced the deal size to USD400 million and fixed the final price at USD12.25 per global depositary receipt (GDR).
GAIL India still in talks with Ophir Energy over Tanzania gas assets
Negotiations between GAIL India and UK-based Ophir Energy about a possible sale of the latter's stake in Tanzania gas assets are still ongoing. Ophir's earlier share sale deal with Pavilion Energy has been initially seen as a setback in the talks.
Sources say Citigroup Inc intends to give two insurers rights to distribute products in Asia
Sources interviewed by Bloomberg said Citigroup Inc is planning to give distribution rights to sell its products in Asia to at least two insurance firms.
Pearson acquires Brazil's Grupo Multi for GBP440 million
UK-based multinational publishing and education company Pearson reportedly agreed to buy Brazilian Grupo Multi for GBP440 million in a cash and debt assumption. Grupo Multi provides English language training to over 800,000 students in Brazil.
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Cool Japan Fund is looking to invest in TV channels and retail properties in the US and Southeast Asia to promote the country's culture. Cool Japan is backed by the government as well as Japanese companies and is led by a former Carlyle Group executive.
Philippine mall and banking conglomerate SM Investments Corp (SMIC) has purchased five business process outsourcing (BPO) buildings in Bonifacio Global City, Taguig for an undisclosed amount.
A video footage of a college game fan holding a sign that read "Hi Mom send Bitcoin" was caught by ESPN's College Gameday yesterday, with The Verge confirming on its article that the fan raised around USD22,000.
Malaysian conglomerate Sime Darby Bhd announced that it has agreed to purchase a 70% stake in Australian car dealer Brisbane BMW Unit Trust and LMM Holdings Pty Ltd for AUD22.7 million (USD20.75 million).
According to a Bloomberg report, Blackstone Group has made its mark as one of the largest warehouse landlords in the US with its industrial real estate firm formed three years ago, which is already two times its size.
Dairy farmer Geoff Akers, the new chair of Dairy Australia, says the surge in takeover bids for milk processing companies is a good change for the industry.
The government of Queensland has exited its 74.3 million shares worth USD350 million in the formerly state-owned coal and bulk freight rail company Aurizon, reducing its stake in the firm to under 5%.
QEP Resources recently announced that it will split its QEP Field Services division to a separate entity as well as its holding in QEP Midstream Partners. QEP Resources had been under fire from activist hedge fund Jana Partners.
Industry executives and academics said mandatory budget cuts or sequestration have led to job losses and could eventually undermine the competitiveness of the US in the global economy, a Reuters report said.
