The New York Times' The Dealbook reported that small businesses were now fueling a boom on the subprime loan business as investors look for more lucrative but riskier investments.
Deals
Krishnan to cut costs in Malaysian telcom Binariang GSM via potential USD1.9 bond sale - source
An unnamed source was cited by Bloomberg who said Malaysian billionaire Ananda Krishnan's Binariang GSM Sdn will decide whether to pursue its sale of around MYR6 billion or USD1.9 billion of Islamic bonds before the year ends.
Tadhamon Capital concludes acquisition of London's Paul Street development
Bahrain-based Islamic investment firm Tadhamon Capital announced that it has completed the acquisition of Paul Street development in London, in a joint venture with McLaren Property and Apache Capital.
Burger King forms joint venture to take on McDonald's in France
Burger King Worldwide Inc. formed a joint venture with Bertrand Holding Co. and Naxicap Partners to open new stores in France in the first half of next year. Burger King returned to the country last year, opening three stores with Italian restaurant operator Autogrill.
Colorado software startup Elihuu raises USD30,000 from students turned venture capitalists
Online software platform Elihuu secured USD30,000 in funding from Deming Center Venture Fund (DCVF), a group of University of Colorado boulder graduate students, for the development and expansion of the company's product.
Latest News
China's mobile-based taxi booking service Kuaidadi confirmed it recently received a USD100 million investment from Alibaba, and has acquired a Shanghai-based taxi booking app called Dahuangfeng.
Bis Industries on Wednesday announced that it has scrapped its planned initial public offering. The KKR-backed Australian logistics company had been looking to raise AUD500 million (USD456 million) in the IPO.
New Zealand-based dairy firm Fonterra has completed its acquisition of Australia's Tamar Valley Dairy in Tasmania, which is now fully-owned and managed by Fonterra Australia.
American investment firm JMI Equity is reportedly partnering with Hellman & Friedman to takeover Applied Systems Inc. from Bain Capital for USD1.8 billion. JMI has also been an investor in various Chicago companies including BigMachines, Trustwave and CouponCabin.
An SNL Financial report showed that lenders in Massachusetts closed some of the priciest bank deals in the past three years in the US. Four mergers and acquisitions done in the Bay State made it to the top 20 list.
Rival Canadian mining companies Goldsource Mines Inc and Eagle Mountain Gold Corp agreed to merge in a deal that would see each firm hold half of the newly combined company.
According to a research study by Dow Jones & Company, Ireland attracted the most venture capital funding per capita in the European region. The data showed that most Irish tech startups have fared well even during the economic recession.
TCC International Holdings Ltd said it received a buyout offer amounting to HKD5.59 billion (USD721 million) from its parent company, Taiwan Cement Corp, which owns 56.5% of TCC.
The increasing number of new hedge funds by global banks and asset managers in Asia threatened the business of smaller firms who had opened their independent firms just after the 2008 financial crisis.
