The EFG International announced its intention to purchase the BSI Ltd in a deal worth about $1.34 billion. The deal will make EFG a leader in the private banking industry.
Deals
Alibaba Resort to $4 Billion Loans For Expansion From Respective Banks
Alibaba plans of expanding and venturing into other business the reason it is seeking $4 billion in loans. It is already in talks with several banks and the request will be finalized by next month.
Venezuela’s ‘Gold Dream’ May Get Fettered Over Conclusion of Other ICSID Proceedings
Venezuela has announced on Wednesday reaching a $5 billion venturing deal with Gold Reserves. The government is expecting to enrich its ever decaying foreign currency reserve with the fund under agreement. But analysts assume, the government may hardly use the fund since Gold Reserves and several other plaintiffs’ proceedings with ICSID are going to be concluded shortly.
Virgin Pulse Acquired Competitors ShapeUp and Global Corporate Challenge
Virgin Pulse acquires two competitors to extend its corporate well-being program. The company mainly focuses on the wellness of empoyees to make them live a better lifestyle and be more productive at work. The merger will expand the company's business through global reach and product synergy.
Spruce Finance secures $130 million loan deal with Investec Plc for 80 MW of residential solar ventures
Spruce Finance is securing a multimillion deal in financing by hiring Investec Plc in effort of supporting the development of around 80 megawatts of US rooftop solar assets.
Latest News
Time Inc. which owns Sports Illustrated and People magazine to name a few, expressed its interest in buying Yahoo. It said that it is interested too in Yahoo's core business which reaches more than 1 billion users across the globe aside from taking into consideration the Reverse Morris Trust. The magazine company will vie with other giant companies including Verizon and AT&T.core business
It was agreed that Monster Beverages will take over on American Fruits and Flavors, its leading supplier of fruit concentrares, flavors and mixes. The beverage company paid $690 million for the acquisition. Since 1990's the two companies have been working together.
Van Diemen's Land Company has been acquired by the Chinese business man Lu Xianfeng and his company Moon Lake. The country's approval of the dairy farm's sale to a foreign firm was made possible with certain conditions that the Moon Lake needs to comply with, especially with the taxation policies.
It was confirmed on Monday that Israeli company Ravello was acquired by Oracle for $500 million. Ravello joins Oracle's cloud business with high hopes to take on giant tech companies like IBM, Google, Microsoft, and Amazon.
AT&T team up with Intel to test drone technology and adds 4G LTE on drones connectivity. The companies will showcase their work in Barcelona, Spain at the Mobile World Congress trade show.
Apple Inc. offers second largest bond sale this year for its capital return plan. The Company has released its fifth multibillion dollar offering since 2013.
Dallas-based Modo Payments has raised $2 million in a funding round headed by Tim Keith. The company will use the money from funds to widen its payment services buisness.
Campbell Soup announced its latest venture of $125 million venture capital fund, to be independently managed by the startup Acre Ventures GP, LLC. The company is evidently sticking by its claim to boost the food industry by supporting the new startups and trends.
Fairchild board rejected acquisition proposal from Chinese firms over fears of US regulatory approval. After a thorough review process and consultation with its financial and legal guides, the board of Fairchild decided to forbid the takeover offer.
