Austria's OMV will divest its 45% stake in German oil refinery Bayernoil to Varo Energy for an undisclosed amount. Varo Energy is a partnership between Swiss oil trading firm Vitol and American private equity firm Carlyle Group.
Lucio Tan, the chairman and chief executive of Philippine Airlines Inc (PAL) is expected to finalize the majority stake sale in the flag carrier next year with San Miguel Corp (SMC).
Korean Air, South Korea's flag carrier and largest airline, has put up for sale its shares in refiner S-Oil and 13 planes to raise KRW3.5 trillion. Proceeds from the deal will be used to pare its debt and provide aid to affiliate Hanjin Shipping Co.
Kuwait-based holding company Noor Financial Investment Company has decided to sell of its entire stake in Pakistan-based Meezan Bank Limited (MEBL) to Vision Financial Limited for $190 million, according to a notice issued on Wednesday.
US-based private equity firms Carlyle Group and KKR & Co and Australian investment firm Archer Capital have advanced in the sale of Transpacific Industries Group's waste management business. The three firms are working with banks to put together loan packages to back their bids.
Bristol-Myers Squibb is reportedly exiting its stake in a diabetes joint venture with AstraZeneca for $3 billion. Bristol-Myers shifted its focus from producing diabetes and hepatitis C treatment drugs to medicines harnessing the immune system to fight cancer.
Private equity firm Carlyle Group had put up for sale its specialty chemicals business PQ Corp. for $3 billion. Carlyle has tapped investment bank Credit Suisse to explore an outright sale or IPO of PQ.
Darty, the third-largest electricals retailer in the European region, had agreed to sell Darty Turkey to eliminate losses in non-core markets. Darty has responded to weak consumer spending and competition from online retailers by exiting its loss-making operations.
Jabil Circuit, whose customers include Apple and Cisco Systems, will put up for sale its aftermarket services for $275 million. The contract electronics maker also looks to part ways with BlackBerry as its revenue declines.
Sony Corp is thinking of selling its audio recognition software business Gracenote and has hired Qatalyst Partners of Frank Quattrone to explore the sale, Bloomberg reported citing people with knowledge of the matter.
The National Audit Office, a government-spending watchdog, said taxpayers lost money in the government's share sale of Lloyds Banking Group and not a profit, Bloomberg reported.
The Financial Times reported two banks divested trade finance assets amounting to $1 billion in a securitization that would get these assets to institutional investors from bank balance sheets.
Cromwell sells four industrial assets for $100 million.
On Tuesday, AT&T agreed to sell its wireline assets in Connecticut to Frontier Communications for $2 billion in cash in order to fund the US phone company's ongoing massive network upgrades.
Norway-based oil company Statoil ASA (STO) said on Tuesday it has decided to invest in the Shah Deniz gas field development in Azerbaijan, together with its consortium partners.