GlaxoSmithKline has asked for the approval of India's Foreign Investment Promotion Board for its planned acquisition of a 24.33% stake in its Indian arm GlaxoSmithKline Pharmaceuticals Ltd. GSK will fund the stake hike by investing INR6,400 crore.
Deals
Israel's Fortissimo takes one-third stake in One Hour Translation for $10M
Israel-based private equity firm Fortissimo Capital has bought one-third of online professional document translation services provider One Hour Translation in a deal valued at $10 million.
Apple snaps up Aussie photo startup SnappyLabs -reports
Tech giant Apple has purchases Australia-based startup SnappyLabs, a one-man team behind the photo app that augments iPhone's camera, according to earlier reports by TechCrunch and Recode.
Israeli court gives control of IDB Holding Corp to Argentina's Eduardo Elsztain
The $570 million debt settlement offer that will give control of Israel's IDB Holding Corp to Argentine businessman Eduardo Elsztain was approved by a court in Tel Aviv, Bloomberg reported.
Commerzbank sees opportunity to expand wealth management business following Credit Suisse's German bank exit
Commerzbank is anticipating opportunities to expand its wealth management business after Swiss Credit Suisse Group sold its private bank in Germany to Bethmann Bank last month.
Latest News
A Mississippi bankruptcy judge on Friday approved the sale of bankrupt car rental company Advantage Rent A Car to Canadian private equity firm Catalyst Capital Group.
Philadelphia Inquirer owners George Norcross III and Lewis Katz, who are at odds over the management of the newspaper company, are pushing it back to the auction block a few years after emerging from a bankruptcy.
China said it would give more support to the domestic solar power industry as the government seeks to revamp a sector that is plagued with overcapacity and lower prices, Reuters reported.
Malaysian firm Cahya Mata Sarawak has agreed to work with various companies to build the first integrated phosphate facility Southeast Asia, the Daily Express reported.
Canada resurrected a $4.7 billion agreement to buy Sikorsky helicopters from United Technologies Corp which Ottawa nearly scrapped due to delays and complications it encountered, Reuters reported.
Tactus Technology, an on-demand tactile surfaces provider, said it closed the first part of its Series B funding round with existing investors led by Thomvest Ventures and the participation new investors from Asia.
The US 6th Circuit Court of Appeals on Friday ruled against food and beverage company Dean Foods Co. in an antitrust case. The said lawsuit alleged that Dean Foods conspired to restrict competition for bottled milk in southeastern states in the US after its 2001 merger with Suiza Foods Corp.
Retail chain Grupo Elektra, controlled by Mexican billionaire Ricardo Salinas Pliego, is expected to close a deal to acquire video and video games sales and rental company Blockbuster Mexico next week.
Argentina's stock regulator CNV on Friday rejected Braskem's $1.35 per share bid to buy roughly 30% of the shares of plastics maker Solvay Indupa that are traded on the Buenos Aires bourse. CNV said that the offer was below Solvay Indupa's book value of $2.81 per share as of September.
