PSA Peugeot Citroen is preparing to replace its present Chief Executive Officer Philippe Varin for a joint venture with Chinese partner Dongfeng, according to sources familiar with the matter.
Deals
China set to overtake Japan in this year's outbound M&A deals
China is set to become Asia's leader in outbound corporate acquisitions this year, ending Japan's two-year reign, as the country's appetite for overseas targets expands beyond natural resources and into areas such as food and banking.
Indian units of Pfizer and Wyeth to merge
Pfizer Ltd, the Indian unit of U.S. drug maker Pfizer Inc, is to take over local affiliate Wyeth Ltd. Shareholders of Wyeth will get seven Pfizer Ltd shares for every 10 shares held.
Norway wealth fund, Och-Ziff among investors in Cinda IPO-sources
A group of 10 investors, including Norway's sovereign wealth fund and Och-Ziff Capital Management Group LLC, have together committed to buy about $1.1 billion into China Cinda Asset Management Corp as part of its Hong Kong IPO, people familiar with the matter said on Sunday
Gujarat's plastic parks to attract INR5,000 investment
With almost 150 plot bookings from MSME companies, Gujarat's plastic park at Dahej and Sanand are expected to attract around INR5000 crore worth of investment in India.
Latest News
The shutdown of Russian bank Master Bank was the central bank's most high-profile move yet under the leadership of Russia's first female governor Elvira Nabiullina.
The fund formerly known as Genesis Angels supported startups like Sirim, StoreDot Ltd and other chosen, early-stage startups in Israel via a combined investment of USD34.5 million.
A Saturday announcement revealed that Pfizer Ltd, Pfizer Inc's Indian unit, would be merging with its local affiliate Wyeth Ltd after both pharmaceutical firms' boards approved the deal.
A revelation from Semantria founder Oleg Rogynskyy disclosed that the partnership of the sentiment and text analytics services provider and Web scraping API developer Diffbot was born at a hackathon in San Francisco.
TransUnion securing the approval from the US Bankruptcy Court for the Southern District of Florida to acquire TLO LLC would mark the end of the court-supervised acquisition.
The US Bankruptcy Court for the District of Delaware approved the USD280 million bid of KPS Capital Partners for Missouri-based bankrupt company Furniture Brands International.
The New York governor announced that the state is investing USD225 million in clean tech startups Soraa and Silevo to build two research and development facilities in Buffalo.
The Galeao airport in Rio de Janeiro was sold to Odebrecht and its partner Changi Airports International for USD8.3 billion, a value almost four times the minimum bid.
Drayton McLane Jr, Comcast and NBC Universal said that Jim Crane's claim that they cheated him out of the acquisition deal of US professional baseball team the Houston Astros was ludicrous.
