The the government of the United Arab Emirates through its Abu Dhabi Investment Authority (ADIA) agreed to develop a luxury tourism resort in Montenegro, said Prime Minister Milo Dukanović in a statement published on his government's website.
Deals
IAG adds Wesfamers' Australia and NZ underwriting unit
Insurance Australia Group Ltd (IAG) bought the Australian and New Zealand underwriting business of Western Australia's farmers' cooperative Wesfarmers Ltd for $1.845 billion.
Woori Investment & Securities Co sale may trigger mergers in local S.Korea securities firms- report
The impending sale of Woori Investment & Securities Co may spur consolidation in South Korea's local securities industry. Final bids for the brokerage unit are due today.
Top deals of the day - bid, mergers and acquisitions
The following bids, mergers, acquisitions and disposals were reported on Friday including ITC Holdings, Dave & Buster, Time Warner Cable, Banca Etruria, Cube Capital, Cargolux, Simon Property and Versace.
Southeast Asia is the key to economic growth - Japan businesses
At a luncheon meeting hosted by Keidanren lobby group and the Japan Chamber of Commerce and Industry, corporate leaders expressed the key importance of the Association of Southeast Asian Nations for the revival of the Japanese economy.
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Fair trade regulator The Competition Commission of India said it has cleared the proposed merger of France's Alstom Power Holdings SA and domestic industrial player Kalyani Group.
Chinese lender China Everbright Bank Co. raised $3 billion in its Hong Kong listing after exercising an option to sell an additional 762 million shares on top of its IPO base size of 5.08 billion shares.
Moped, a messaging platform startup, had been acquired by local cloud-based software startup 6Wunderkinder, according to the former's announcement on its website. Financial details of the transaction were not disclosed.
New York-based money manager BlackRock Inc. increased its stake in Telecom Italia to 10%, becoming its second-largest shareholder. This could potentially tip the balance at a shareholder meeting set to vote on the proposed ouster of Telecom Italia's board, according to a Reuters report.
RAG Foundation chief Werner Mueller said the state-owned trust looks to reduce its stake in German chemicals and plastics manufacturer Evonik Industries to about 25%. RAG currently owns two thirds of Evonik.
Indian airport developer GMR Infrastructure has put up for sale its stake in Istanbul airport Sabiha Gokcen International Airport. Malaysia Airports Holdings, which already owns a 20% stake in the Turkish airport, is looking to buy GMR's 40% holding.
The Reserve Bank of India recently announced that multinational companies can hike their stakes in Indian arms without its approval. Many MNCs are now looking to increase their stakes, go for a merger or de-list their local units.
With the reported bid for Time Warner Cable said to be readied by Charter Communications dominating the news, the New York Post reported that Cablevision may soon be approached by private equity players.
The China Securities Regulatory Commission or CSRC revealed new plans on public share sales as initial public offerings are set to resume in January next year, Reuters reported.
