In an email provided to news agency Bloomberg News, Alibaba Group Holding Ltd founder Jack Ma insisted that the partnership system was meant to provide value to company's shareholders, employees and customers.
Deals
Philippine regulator accepts development project proposals under Italy's development program
The Philippines' Department of Finance announced that it had begun to accept development proposals under the Philippines-Italy Debt for Development Swap Program.
Ecuador deficit activates plan to tap into USD18 billion oil in Yasuni National Park
Rafael Correa, President of Ecuador, would be relying on USD18 billion worth of oil resources inside the Yasuni National Park to save the country from going bankrupt.
Petronas pulls out of Carabobo Oil Project in Venezuela
The Malaysian state run oil firm informed the Venezuelan government of its withdrawal from the Carabobo-1 oil project.
Umpqua nearing Sterling USD 1.8 Billion acquisition deal - sources
Sources who disclosed to Reuters that Umpqua Holdings Corp. (UMPQ) was in advanced stages of closing an acquisition of Sterling Financial Corp for USD1.8 billion.
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Multiple industry observers noted that foreign firms were favoring cross currency swaps more than raising funds via issuance of Dim Sum bonds.
Eike Batista's OSX Brasil SA engaged the services of Bingham McCutchen LLP for its restructuring efforts.
According to two sources, KKR would acquire Gland Pharma for INR1 billion and would push through by the end of the month.
The Indian Telecom Commission had cleared the planned exit of Telecommunication Consultants India (TCIL) for its 30% stake in Bharti Hexacom.
Nestle SA said that it would keep all possible options open as it considers the sale of its 29.4% stake in L'Oreal SA.
Blink, the online travel app was purchased by Groupon for an undisclosed amount. Groupon announced the acquisition of Blink, an online travel app. The focus of Blink is the European market, with highly curated same day booking services to add on to the rapidly expanding Groupon Getaways travel business.
Aramak Holdings Corp. announced launching an initial public offering worth USD100 million to repay debt.
Livefyre announced that it had acquired Storify without disclosing the financial terms of the deal. Livefyre is a commenting platform used by TechCrunch and other websites.
Incumaker Inc. had announced completed acquisition for Cryogenic Therapy Company. Today, Incumaker Inc. announced that it had completed its acquisition of CryoMist I and CryoMist II.
