Chesapeake files suit against BNY Mellon. Chesapeake Energy Corp has gone to court to sue its trustee Bank of New York Mellon Corp seeking redemption of more than US$1.
Deals
Aston Martin Owner Sells Bahrain Bank Stake
Investment Dar sells off stake to pay debts. The controlling shareholder for Aston Martin, the British car maker is Investment Dar Co. The company has agreed to sell its stake in the beleaguered Bahraini Islamic Bank for US$92 million as the company restructures its debts.
Abu Dhabi Islamic Bank Grants Loan to Dubai's DAFZA
Bank extends loan to DAFZA Dubai Airport Freezone (DAFZA) was granted a credit line of AED500 million (US$136million) by Abu Dhabi Islamic Bank (ADIB).
Galadari Bros to Oversee Baskin- Robbins Down Under Expansion
UAE company manages Australian expansion of Baskin-Robbins. The world's most well-known and largest chain of ice cream specialty shop, Baskin-Robbins, has released a statement regarding its plans to open another 200 shops in Australia.
Tiger Global Management Purchases Cobone.com
Tiger Global buys Cobone. The largest daily deal company in the Middle East, Cobone. com was purchased by Tiger Global Management. The international investment firm gave additional funds to the Middle East Company to expand its long term obligations at home.
Latest News
KKR buys Gardner Denver for US$3.74 billion. Gardner Denver Inc had agreed to be sold to KKR and Co LP for the price of US$3. 74 billion. Industry experts though still have lingering doubts as to the valuation of the company as it was undeevalued because of the sale.
TPG's real estate expansion reaping dividends. Two years into its expansion into real estate, TPG Capital has been able to parlay US$2 billion worth of equity investments in properties.
Numeric Investors is a fund manager that is putting itself up for sale. According to Mike Even, Numeric Investors President and CEO said that it is putting the firm up for sale.
PICC lists in Shanghai index after HK index. According to People's Insurance Company of China Group's Chairman Wu Yan, it would be completing an A share listing by the third quarter of 2013.
Elan proceeds with its US$1 billion buyback share program. Elan is expected to undertake the planned US$1 billion share buyback by next week. The Irish pharmaceutical firm's move may undermine the takeover offer by US fund firm Royalty Pharma.
Nielsen Expositions is up for sale and may be worth US$1 billion. Nielsen Holdings NV, the television ratings firm is now in exploratory talks to sell its expositions business.
Zhang led investment group buying stake in GM building in Manhattan. A consortium of investors from China is in talks to purchase a 40% stake in General Motors building located in Manhattan.
TPG Capital to pay Bob Ingham Aus$ 1 billion for Ingham Enterprises. Bob Ingham announced Saturday that TPG Capital, a private equity firm, won the bidding for the acquisition of Ingham Enterprises, Australia's largest poultry firm.
Based on a TV news report, Jet Airways shares jumped as Etihad supposedly would purchase 13% interest.
