ECI Partners announced the sale of its portfolio company Ascribe to MIS Group for GBP 57.5 million. ECI Partners sold IT software supplier company Ascribe to MIS Group for GBP 57.
Deals
Saudi Telecom in talks to sell off Axis Telekom
Saudi Telecom, whose goal is to repay a USD1.2 billion debt, is planning to sell off its subsidiary to raise the funds.
Tata Capital plans USD300 million Africa private equity fund
Tata Capital had been planning to launch a private equity fund in the African region. Tata Group's financial services unit, Tata Capital had been planning to launch an Africa-focused private equity fund.
Bechtel opens new office for Gulf region projects
According to Bechtel EAME President David Welch, the growing business in the Gulf region required the opening of a new office.
CORRECTED: India Infoline to break merged brokerage business
According to a report by The Economic Times, India Infoline would be separating its brokerage business to meet banking regulations.
Latest News
According to a report by Forbes news magazine, the sale of Madison Square Garden Company (MSG)'s Fuse cable TV music channel was a more tactical rather than strategic move to exit from a floundering business unit.
According to a Forbes news magazine report by contributor Peter Cohan, Western Digital's subsidiary HGST bought Virident, a flash storage supplier, for USD685 million in cash.
Edison Ventures announced that it has exited from Communications Lifecycle Management software firm Tango by selling the last of its shares.
A Reuters report said the growing number of equity issuance this year was a sign of positive growth.
Antitrust regulators in the European Union would review M&A deals to gauge their effects on local markets.
Virgin Mobile Middle East and Africa had introduced new telecom services in Malaysia. Virtual telecommunication services in Malaysia was recently launched by Virgin Mobile Middle East & Africa in partnership with the Southeast Asian countries fourth largest telecoms operator U Mobile.
Confidence in ad tech partners jumped, hoping that riding on the social microblogging platform company Twitter Inc's IPO would provide them additional opportunities for ad placement.
Qatari telecommunications firm Ooredoo would be one of the major sponsors for the Paris-St.Germain football team in the 2012/2013 French Ligue 1.
Citing sources who were familiar with the matter, the Financial Times reported that Shanghai has approved six foreign hedge funds to raise money from investors within China.
