BFA earmarks Eur275 million shares for Bankia. Reuters reported today that BFA, the Spanish state owned banking group, has committed that it will spend up to Eur275 million or US$358 million on the acquisition of new shares to be released by subsidiary lender Bankia by May of this year.
Deals
Sumitomo Corp Pulls Out of JV Agreement
Sumitomo Corp pulls out of JV Agreement and purchase sale of coal mining tenements. In disappointing move, Sumitomo Corp has pulled out of a coal exploration partnership with Aquila Resources.
BHP Billiton Sells Assets to Capstone Mining
BHP Billiton sells Pinto Valley copper mine and an Arizona railroad to Capstone Mining Co. In agreement reportedly worth US$650 million, BHP Billiton sells two major assets to Capstone Mining Corp.
Mitsubishi UFJ Financial Group Lands Two Major Deals
Mitsubishi UFJ Financial Group deals with Morgan Stanley and Deutsche Bank AG for deals. The American unit of Mitsubishi UFJ Financial Group Inc is in discussion about its sale of its trust banking services to clients of Morgan Stanley.
Five Banks to IPO in the next two years
IPO is the next best option as five banks find it difficult to find buyers for their businesses. Five British banks would be looking to float their stocks in the market.
Latest News
Zurich Insurance Chairman Josef Ackermann says that the insurer is withdrawing from biddings as the focus is on profit growth and not volume expansion.
BD Diagnostics inks a distributor agreement with Bruker Daltronics Inc. In an announcement it was disclosed that BD Diagnostics inked an international distributor agreement with Bruker Daltonics Inc.
Vale SA obtains clearance to leave Rio Colorado mining project. On Friday, a company spokesperson told Reuters that the Vale SA, a global miner, has already inked an agreement with the government of Argentina allowing them to quit from US$6 billion Rio Colorado potash mining project.
The deVere Group opens its offices on the Cayman Islands. The deVere Group has recently announced the establishment of its regional office in the Cayman Islands as a signal to its presence in the area.
Renault-Nissan CEO Carlos Ghosn expects approval for the China plant for the carmaker to be approved by the end of the year.
Ageas issues Eur1.00 per share extraordinary dividend due to sale of RPI portfolio and BNP Paribas call option.
Valeant Pharmaceuticals is in discussion to acquire Actavis for about US$13 billion. Valeant Pharmaceuticals International Inc, the largest publicly listed drug maker in Canada, is in discussion to purchase generics pharmaceutical firm Actavis Inc for US$13 billion.
Vodafone shareholders, should the US$100 million bid be offered, wants to either merge with Verizon Communications.
Analysts and traders saw great fund inflows despite tumbling prices of gold and other commodities. Despite record losses for gold and other precious metals, many hedge funds and speculators continued to pour money into these investments.
