A source told Reuters that hedge fund Hayman Capital has acquired a stake in General Motors and believes that the stock price of the automaker will soar once the US Treasury has exited its remaining stake in the firm.
Deals
State-level tests underway for equity crowdfunding- report
A report from The Wall Street Journal said more and more entrepreneurs and young companies were taking part in test runs at the state level for new federal rules regarding equity crowdfunding.
General Motors pours in USD11 million to build new power plant in Indiana
General Motors (GM) is investing USD11 million to build a new source of energy for its Fort Wayne Assembly Plant, a move that will save the company USD5 million a year.
Chilean shipper Vapores in talks with Hapag-Lloyd on a possible merger
Top executives of shipping companies Compania Sud Americana de Vapores and Hapag-Lloyd were reportedly negotiating a merger deal. Vapores has suffered losses and is seeking for ways to become more competitive.
NRG unit to purchase Energy Systems assets in Nebraska
NRG Yield Inc, a unit of NRG Energy Inc, has agreed to purchase the assets of Nebraska-based Energy Systems Company for USD120 million in cash.
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European private equity company Bridgepoint has agreed to acquire pre-university training firm Cambridge Education Group (CEG) from London-based investor Palamon Capital Partners for GBP185 million.
Westpac Bank has received approval from the Australian Competition and Consumer Commission to purchase the Australian assets of Lloyd's Banking Group for USD1.45 billion.
Germany-based second screen TV startup Wywy announced that it has secured USD7 million in Series B funding for its expansion to Europe and the United States.
California-based pharmaceutical company PaxVax Inc raised USD22 million in a Series B funding round for the late-stage trial of its single-dose oral cholera vaccine for travelers.
Private equity firm TDR Capital will sell half of its entire stake in insurance company Phoenix Group for about GBP127 million. TDR will sell 18 million shares out of its total 35.9 million shares in Phoenix.
Cambridge-based anti-obesity drug developer Zafgen Inc bagged another USD45 million in a Series E funding round today, bringing its total funding to date to USD114 million.
A report from Cushman & Wakefield revealed that the private equity industry is still optimistic on the Indian real estate market, with private equity deals in the sector increasing 26% in the first nine months of this year.
General Motors Corporation LLC is looking to put up for sale the last of its holdings in Ally Financial Inc. via a private placement. Ally, GM's financing arm, is reportedly eyeing an initial public offering.
Venture capital trust Time:Reboot VCT plans to raise around GBP20 million by the end of April 2014 to invest exclusively in firms run by UK military veterans.
