Axis Real Estate Investment Trust, through its trustee RHB Trustees Bhd, has entered into a sales and purchase agreement to divest its Axis Plaza. The five-storey building will be sold to Collective Developers Sdn Bhd for MYR34 million.
Deals
Upcoming Monte Paschi meeting spurs tension on cash call
The intention of Monte dei Paschi di Siena's largest shareholder to postpone the planned cash call until the middle of next year has irked Profumo and chief executive officer Fabrizio Viola.
Audi proposes $30.3 B investment plan to challenge Toyota, GM, BMW sales
Volkswagen AG's Audi division said today in a statement that it is aiming to challenge major automobile players in terms of global sales by pouring in €22 billion or $30.3 billion in auto model and technology development through 2018.
Rosneft not eyeing any more acquisitions, will focus on Morgan Stanley unit merger instead
Russian oil producer Rosneft said on Friday that it does not have any plans to make strategic acquisitions after agreeing to acquire Morgan Stanley's oil trading unit last week.
French engineering group SPIE plans late-2014 IPO
SPIE, a French engineering group that makes facilities more energy-efficient, is reportedly mulling over an initial public offering in late 2014. SPIE's shareholders, private equity firms Ardian, Clayton Dubilier & Rice and Quebec's pension fund Cassie, will likely decide on the listing in the first quarter.
Latest News
Intel Capital, US-based Intel Corp's corporate venturing division, announced that it is investing in Taiwan-based digital image solution provider SanJet Technology to support the development of next generation wearable and car applications.
SMC Global Power Holdings Corp, the holding firm for San Miguel Corp's power generation assets, is eyeing for an initial public offering in 2014. SMC Global Power aborted its listing in September, citing adverse market conditions.
Huawei Technologies Co and ZTE Corp have asked regulators to make sure that Microsoft's takeover of Nokia's handset business will not result to increased patent fees in wireless technology, according to sources who talked to Bloomberg.
Mergers and acquisitions or M&A deals continue to decline in India this year as slow business growth, an uncertain economic climate and the instability of the foreign exchange rate led investors to be more cautious, the Business Standard said in a report.
Indonesia-based mobile network operator PT Indosat aims to offload its minority stake in telecommunications tower firm PT Tower Bersama Infrastructure (TBIG) early next year, according to the company's finance director.
China's Bright Food Group Ltd unit Manassen Foods could be the frontrunner in an acquisition contest for United Dairy Power, the biggest privately-owned milk supplier in Australia, according to a news report by the Business Spectator.
State-owned steel maker Steel Authority of India (SAIL) and the country's largest energy explorer, the Oil and Natural Gas Corporation, are in preliminary talks about jointly exploring coal-bed methane in Indian coal blocks. SAIL wants to use coal-bed methane to reduce input costs.
India-based integrated components manufacturer Amtek Auto agreed to acquire significant business interests in Germany-based integrated machine manufacturer Kuepper group in a deal reportedly valued at €200 million.
Kanakia Group, a conglomerate based in Mumbai, said that it intends to invest over INR500 crore for developing residential and hotel properties in the country. Kanakia currently has a real estate portfolio of more than 13 million square feet across residential, commercial and hotel properties.
