Italian life and non-life insurance company Generali bought a 40% stake in Generali Asia for EUR40 million. Generali Asia is a joint venture of Generali and Banca della Svizzera Italiana in Switzerland.
Deals
Aeroflot rules out financial aid for Alitalia
State-controlled Russian airline Aeroflot told Reuters the company will neither buy nor financially aid Italian airline Alitalia despite being repeatedly named by Italian officials as a potential backer.
Apollo raises USD3.9 billion to buy out distressed assets in Europe
American investment firm Apollo Global Management LLC raised USD3.9 billion to buy distressed European assets. Specifically, the private equity firm is hunting for hotels and resorts in Spain.
Canadian Cardinal Energy to raise CAD250 million in IPO
Canadian oil producer Cardinal Energy Ltd. targeted to bring in CAD250 million from its initial public offering. The company would price its shares between CAD10 to CAD10.5 per share.
US hedge funds invests, exits controversial firms- report
A Reuters report said hedge fund managers in the US bought and exited from shares of hotly-debated firms like retailer JC Penney, nutrition and weight management company Herbalife Ltd and auction house Sotheby's.
Latest News
The state of Jefferson County, Alabama planned to sell sewer system securities worth USD 1.7 billion to pay off its debts to its creditors. Jefferson County is still under bankruptcy protection.
According to its Chief Executive Officer and Chairman Thomas Falk, Kimberly-Clark decided to spin off its healthcare division as the division no longer fit in the strategic and growth priorities of the company.
The French government hoped to help fund new state investments and boost national economy by divesting 3.5% of its stake in jet engine maker Safran.
United Kingdom-based Apax Partners aimed to become one of the largest equity holders of textbook publishing company Cengage Learning Inc after the latter exits from bankruptcy.
Ryan Corporation UK acquired a site in Canary Wharf, a business district in London, for GBP 100 million. The property company owned by Tom Ryan aimed to build a residential building that will tower over the highest building on the site.
Russian millionaire and entrepreneur Yuri Milner recently led a Series B funding round for genetics upstart GenapSys for the commercialization of the company's genome-sequencing platform.
Seattle-based online clothes retailer Zulily Inc raised its initial public offering (IPO) price to USD22 per share above the previously expected range of USD18 to USD20 per share.
Lone Pine Capital increased its holdings in online companies by buying shares in China-based search engine Baidu Inc and ecommerce firm Amazon.com Inc. The fund also bought shares in MasterCard Inc.
Hedge fund firm Viking Global Investors obtained 44.9 million new shares in Bank of America in a deal worth USD 620 million near the end of September.
