India's Foreign Investment Promotion Board has given the green light to Hennes & Mauritz's (H&M) INR7.2 billion (USD115 million) investment. The Swedish retail-clothing company looks to open 50 stores in India.
Deals
Dairy Australia's new chair welcomes takeover bids
Dairy farmer Geoff Akers, the new chair of Dairy Australia, says the surge in takeover bids for milk processing companies is a good change for the industry.
Queensland sells USD350 million of Aurizon stake
The government of Queensland has exited its 74.3 million shares worth USD350 million in the formerly state-owned coal and bulk freight rail company Aurizon, reducing its stake in the firm to under 5%.
QEP Resources bows to activist hedge fund pressure, to spin off business units
QEP Resources recently announced that it will split its QEP Field Services division to a separate entity as well as its holding in QEP Midstream Partners. QEP Resources had been under fire from activist hedge fund Jana Partners.
US plastic compound manufacturer A Schulman finalizes acquisition of Network Polymers
Ohio-based plastic compound and resin supplier A. Schulman Inc announced the completion of its acquisition of US engineered plastics distribution business Network Polymers Inc in a deal valued at USD49.5 million.
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New York-based asset management firm The Rohatyn Group announced that it has completed the acquisition of private equity investment firm Citi Venture Capital International (CVCI).
Children's Place, the largest children's apparel retailer in the US, is in talks with Arvind Brands about a possible India entry next year. Children's Place is looking to expand its market outside North America.
According to a Bloomberg report, Fifth & Pacific's designer handbag maker Kate Spade may become the next hot acquisition for buyout firms and retailers after the company sells Juicy Couture and Lucky Brand.
Alan Joyce, chief executive of Qantas Airways Ltd, has ruled out Australia's national carrier raising fresh capital to compete with arch-rival Virgin, saying the airline still has a lot of flexibility.
Indonesia's largest taxi company Blue Bird Group reportedly postponed its initial public offering this year after failing to get an approval from the Financial Services Authority of Indonesia.
US movie company AMC Entertainment Holdings Inc said it will seek to raise USD 368 million in its initial public offering. AMC is owned by the Dalian Wanda Group controlled led by Wang Jianlin, the richest man in China.
Houston-based energy firm Calpine Corp said it agreed to buy the 1,050-megawatt Guadalupe Power Plant near San Antonio for USD625 million from MinnTex Power Holdings LLC.
La Redoute chief executive Nathalie Balla and Redcats finance chief Eric Courteille have reportedly made a joint bid to acquire Kering's loss making mail order business La Redoute.
New York-based startup Eleven James received USD1.4 million in seed funding from strategic investors to launch its luxury watch rental and watch trade-in service for men.
