HSBC will cut back costs and sell off minority assets under the three year restructuring plan of CEO Stuart Gulliver.
Deals
Patron Capital Partners Continues Acquisition Spree in Germany
Patron Capital Partners is planning to spend nearly Eur1 billion for property purchases in Germany. Patron Capital Partners is a private equity company that does investments in a number of real estate projects throughout Europe.
Danone Purchases Happy Family
Danone purchases organic baby food maker Happy Family for an undisclosed amount. The Paris based owner of Evian water and Activia yogurt, Danone, has entered into an agreement to purchase Happy Family, an American manufacturer of organic baby food.
Partnership Assurance Group Undertakes IPO
The Partnership Assurance Group undertakes IPO, with its owners Cinven planning to sell shares as well as issue new ones.
Goldman Sachs Makes Second Indian Investment in Two Weeks
Goldman Sachs invests US$20 million in BPL Medical Technologies, its second investment in as many weeks.
Latest News
Win Bischoff is retiring as chairman of Lloyds Banking Group according to the Financial Times. As reported in the Financial Times, the chairman of the Lloyds Banking Group Win Bischoff is stepping down.
Fresenius CEO Ulf M. Schneider is on the lookout for deals for the expansion of the German group. Fresenius SE, the diversified healthcare group from Germany, has identified possible firms for ripe for takeovers.
The Department of Treasury will sell off its shares in Detroit carmaker General Motors. The US government has sold off a major portion of its shareholdings in General Motors Co.
Icahn, seeking to fight off the Dell-Silver Lake bid, is asking investors to dig deep and put their money on the computer maker.
The Gores Group purchases Davis+Henderson Corp. In an announcement from the Gores Small Capitalization Partners, LP disclosed its purchase of Davis + Henderson Corporation's three company units in Canada.
Softbank waived the Alibaba IPO card to banks, saying their help in funding the rival bid can ruin their chances in participating in the highly anticipated IPO, which it owns one third of.
3D Systems to undertake IPO at US$40.00 per share. As previously announced, the common stock issue from 3D Systems has been proceed at US$40. 00 per share through an underwritten initial public offer.
Discovery Labs to undertake IPO for the expansion of its capital base. Discovery Laboratories is now turning its attention to fundraising activities for increase of its capital base.
JP Morgan sells off power marketing rights amidst allegations of price manipulation in California and Michigan.
