British retailer Tesco said it had applied with India's Foreign Investment Promotion Board to acquire a 50% stake in a joint venture with Tata Group. Tesco intends to invest $110 million in the partnership.
Deals
Bankrupt Nortel Networks cuts over $3B in claims in reached deal
Three of the four largest claims against the US estate of bankrupt telecoms company Nortel Networks Inc has been resolved, reducing the bills the estate needs to settle by by $5.14 billion, said a Reuters report.
3M reveals plans for up to $22B in five years, set to raise dividends
A Reuters report said 3M Co revealed its plans to purchase its shares back worth up to $22 billion, making it the biggest so far in terms of percentage among US companies who have announced similar plans this year.
AT&T plans to divest its wireline assets in Connecticut for $2B to Frontier
On Tuesday, AT&T agreed to sell its wireline assets in Connecticut to Frontier Communications for $2 billion in cash in order to fund the US phone company's ongoing massive network upgrades.
Russia extends $15B bailout package to Ukraine
The state of Russia under President Vladimir Putin agreed to acquire $15 billion worth of Ukrainian Eurobonds to help the beleaguered country of Ukraine out of a potential currency crisis, according to a Reuters report.
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French power company GDF Suez has purchased a 74% stake in a 1,000 megawatt coal-based power project owned by India's Meenakshi Energy and Infrastructure Holdings for an undisclosed sum.
Al Waha Capital, AerCap's largest shareholder with a 26.3% stake, is in favor of the Dutch aircraft leasing company's $5.4 billion acquisition of International Finance Corp. ILFC is owned by American International Group.
Marketing personalization startup Sailthru announced the conclusion of its $20 million Series C funding round led by Scale Venture Partners and participated by Benchmark, RRE, DFJ Gotham, AOL Ventures and other existing backers.
China's holdings in US Treasury securities were seen increasing to a figure nearing $1.314 trillion it last hit in July 2011 as the world awaits for the decision of the US Federal Reserve to taper its $85 billion monthly purchases, said a Bloomberg report.
Bob Diamond, the former CEO of Barclays, has made a dramatic comeback in the banking sector after the investment vehicle he formed with Ashish Thakkar called Atlas Mara raised $325 million for its London IPO, the Financial Times reported.
Norway-based oil company Statoil ASA (STO) said on Tuesday it has decided to invest in the Shah Deniz gas field development in Azerbaijan, together with its consortium partners.
Citing sources, Bloomberg reported that US-based life insurance firm MetLife Inc is talking exclusively with AMMB Holdings for the acquisition of its Malaysian life insurance businesses.
Crescendo Biologics was able to gather £17.5 million or $28 million from lead investor Imperial Innovations for its Series A round. Astellas Venture Management and Sofinnova Partners also participated in the financing.
The poor performance of Pact Group Holdings and GDI Property Group Pty on the Australian stock exchange dampens the prospects of firms expected to go public next year, Reuters reported.
