Paris, France-based hospitality major Accor is aiming to exit its 40% stake in Mumbai, India-based Sofitel hotel in Bandra-Kurla Complex (BKC) and fold the Sofitel brand into itself, according to sources.
Deals
Natural gas compression startup Simple-Fill receives tech grant from Ohio State-backed fund
Columbus, US-based natural gas compression startup Simple-Fill received an undisclosed amount of technology grant from the Technology Concept Fund, an investment fund backed by Ohio State University.
US food firm Cargill purchases Leonardo olive oil from India's Dalmia Continental
Minnesota, US-based food processing firm Cargill purchased the Leonardo olive oil brand from New Delhi, India-based premium wellness food provider Dalmia Continental for an estimated price of INR100 crore.
Quadrant buys Canadian software firm BCD
Massachusetts, US-based enterprise solutions software provider quadrant Software bought Chicago-based Business Computer Design (BCD) Int'l and its British Columbia, Canada-based business partner ExcelSystems Software Development Inc (ESDI) for an undisclosed sum.
Thailand's Asiasoft buys out Philippines online publisher IP E-Games' stake in Level-Up
Thailand-based online entertainment firm Asiasoft Corporation Public Company Ltd is buying out the entire 30% stake of Philippine-based online game publisher IP E-Game in Level-Up to gain a 70% controlling stake in the latter.
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Queensland, Australia-based mining and exploration firm Axiom Mining acquired the gold-silver and copper-gold mineralization West Guadalcanal Project located in the Solomon Islands for an undisclosed amount.
New York, US-based hedge fund Libra Advisors will pick up a $7.2% stake in Auckland, New Zealand-based business developer Rubicon to support that latter's future forestry biotech project.
SportPursuit, a flash sales site based in the UK, nabbed £5M from its Series B financing round led by London-based venture capital firm DFJ Esprit and participated in by Silicon Valley Bank and angel investors, TechCrunch reported.
Oregon, US-based startup bRight Switch launched a crowdfunding campaign on Indiegogo to raise $115,500 for a prototype of a wall-fixed smart tablet that will replace the ordinary home light switch.
Nestle, the world's biggest food company, is looking at ways to reduce its $30 billion stake in cosmetics firm L'Oreal, Bloomberg reported on Saturday, citing sources with knowledge of the matter.
Brisbane, Californian-based women's retailer Bebe Stores Inc is thinking of selling the company and is reaching out to private equity firms, according to people interviewed by Reuters.
MassHousing, a self-supporting quasi public agency in Massachusetts, has closed $11.8 million loans to acquire and convert Sitkowski School to 66 affordable apartments for seniors, Boston.com reported.
British helicopter airline Bristow Helicopters picked up a 60% stake in UK-based airline Eastern Airways International Ltd, with the two firms to continue operating as entities independent from each other, as part of the strategic investment deal.
As plans to look for a buyer for its chip manufacturing business fail, IBM is said to be looking for a joint venture partner for the operations, according to sources interviewed by Bloomberg.
