Exxon Mobil Corp's Canadian unit is selling its retail gas stations in the country to five fuel distributors for C$2.8 billion ($2.1 billion). The transaction is expected to be completed by end of 2016 subject to the regulatory approvals.
Deals
General Motors Acquired Silicon Valley-based Cruise Automation, Aims to Integrate Autonomous Cars Software to Manufacturing
General Motors is moving forward to compete in the autonomous car markets. The giant automaker has acquired a driverless cars software maker, Cruise Automation, for reportedly more than $1 billion.
LIC invests ₹2,750 crore in shares of nine state-owned banks
Life Insurance Corporation has invested in nine state-owned banks. The Indian-based insurance group has invested around ₹2,750 crore in shares of nine banks in order to strengthen their capital reserve.
China’s State Backed CRR Corp. Unit Bags $1.3 Billion Chicago Rail Car Contract
Chicago Transport Authority has planned to replace 2,600 age old rail cars with 846 units of 7000-Series cars. CTA has awarded the $1.3 billion deal, the largest purchase in its history to a unit of CRR Corp. on Wednesday. Chinese companies have been awarded the second major deal following $567 million contract to supply trains for Boston’s subway system.
Online games developer Nexon Korea to acquire Big Huge Games
NEXON Co will purchase the entire outstanding shares from Big Huge Games. The company is moving forward with an aim of establishing a dominant presence in the gaming industry by creating partnerships with leading game developers.
Latest News
AMC Entertainment will acquire Carmike Cinemas to be the largest theater chain in North America. One Carmike's shareholder opposed the acquisition, citing the price offer was too low.
Owner of New York Stock Exchange, Intercontinental Exchange prepare its bidding on London Stock Exchange. The bid came in the midst of merger talk between London Stock Exchange and Deutsche Boerse.
Imperial Oil has entered into an agreement to sell its 497 Esso retail fuel stations for about C$2.8 billion. This transaction reflects the company's aim to widen its refining and oil sands businesses.
Statoil Energy Ventures announced its first investment worth at about US$3 million in United Wind. The fund plans a total investment of $200 million in wind energy over a period of 4 to 7 years.
Drug makers Sanofi and Merck & Co. will part ways by the end of the year sealing their partnership for the European vaccines joint venture. Sales has been declining and both companies agreed it is better if they were better off running their own businesses.
The acquisition will create a second largest investment bank in Egypt. Sawiris acquired CI Capital Holding with its investment arm, Orascom Telecom Media and Technology.
There is a saying "Strike while the iron is hot". That is what Silicon Valley is doing - investing big in India where the economy grows faster.
Russian energy company GazProm signed a loan agreement with Bank of China on Thursday. GazProm borrowed €2 billion ($2.17 billion) on a 5-year term
Roofstock gets Series A funding of $13.25 million led by Bain Capital Ventures. The funds will be used in an online marketplace and will be launched on Thursday in Florida.
