Exits

Austria's OMV sells Bayernoil stake to Vitol-Carlyle joint venture for undisclosed sum

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.

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Tan to finalize Philippine Airlines stake sale with SMC

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).

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South Korean flag carrier Korean Air sells S-Oil stake, planes to raise KRW3.5 trillion

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.

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Kuwait's Noor Financial sells off Meezan Bank stake

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.

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Carlyle, KKR advance in the bidding for Transpacific Industries' waste management unit

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.

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Bristol-Myers to sell stake in diabetes joint venture to AstraZeneca for $3B

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.

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Private equity firm Carlyle Group had put up for sale its specialty chemicals business PQ Corp for $3 billion

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.

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Darty exits Turkish business to stem losses

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.

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Jabil Circuit to exit aftermarket services for $275M

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.

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Sony Corp mulls sale of Gracenote- sources

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.

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UK's NAO says taxpayers lose out on Lloyds share sale

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.

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Citigroup, Santander sell $1B of trade finance assets

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.

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CROMWELL PROPERTY GROUP SELLS FOUR INDUSTRIAL ASSETS FOR $100 MILLION

Cromwell sells four industrial assets for $100 million.

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AT&T plans to divest its wireline assets in Connecticut for $2B to Frontier

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.

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Statoil invests in Azerbaijan gas field, sells project stake

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.

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