Delta Air Lines has agreed to pick 49 percent in Virgin Atlantic for $360 million. A two-year wait has finally yielded the much-vaunted outcome. American carrier Delta Air Lines has agreed to pick up a 49 percent stake in Virgin Atlantic for $360 million, which will give it access to London's Heathrow airport, the veritable hub of European corporate travelers.
Deals
Wells Fargo Agress to Proposed Settlement on Shareholder Actions
Wells Fargo & Co would pay up to $2.5 million in attorneys' fees and implement certain corporate governance changes under a proposed settlement of lawsuits brought by shareholders on behalf of the company, according to a securities filing by Wells on Friday.
GE to Buy Aviation Unit of Italy's Avio for $4.3 Billion
General Electric Co has agreed to buy the aviation business of Italy's Avio for $4.3 billion, in a sign of confidence about the country's underlying strength despite its deep recession.
KKR Joins Private Equity Charge in U.S. Water
Private equity firm KKR & Co LP on Thursday kicked off a joint venture with Suez Environment to run the water and wastewater systems of a New Jersey city it hopes will become a model for cash-strapped local authorities in the United States.
GM to Buy Stake From Treasury, Government May Lose Billions
The U.S. Treasury plans to sell its stake in General Motors Co. over the coming year, all but assuring a multibillion-dollar loss in a move that will end the automaker's "Government Motors" era.
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Daimler AG has sold 7.5 percent or half its remaining holding in European Aeronautic, Defence & Space Co. (EADS) for $2.17 billion (1.66 billion euros).
Tax consultancy in The Netherlands is seemingly on the upswing in view of a greater number of corporates seeking to establish their European holding companies in the EU member country because of its many bilateral tax agreements with other nations to prevent double taxation. Against this backdrop, US private equity firm Blackstone Group LP has decided to buy Dutch tax consultancy Intertrust from Dutch private equity firm Waterland for a reported $883 million (675 million euros).
British TV decoder maker Pace Plc confirmed on Monday that it had made an early-stage proposal to internet group Google Inc to acquire its set-top TV box maker Motorola Home.
US Airways Group Inc has made a formal merger proposal to American Airlines parent AMR Corp and its creditors that could value the combined airline at around $8.5 billion, two people familiar with the matter said on Friday.
Kit Digital Inc's former chief executive significantly lowered the price he was willing to pay to buy the video technology provider, citing the company's worsening liquidity and capital structure issues.
Citigroup Inc, which has lagged behind its peers in recovering from the financial crisis, said it is cutting 11,000 jobs worldwide, about 4 percent of its staff, to save as much as $1.1 billion a year in expenses.
Swiss bank UBS AG is nearing a deal to settle claims some of its staff manipulated interest rates and could reach agreement with U.S. and British authorities by the end of the year, a person familiar with the matter said on Monday.
Japanese conglomerates Mitsubishi Heavy Industries and Hitachi Ltd have decided to merge their thermal power businesses to take a vantage position in the domestic fossil-fuel power business.
Indian business conglomerate Sahara India Pariwar has established a big presence in the U.S. hospitality industry by acquiring a 75 percent stake in The Plaza Hotel, New York City for about $570 million.
