Istithmar World, a subsidiary of state-owned conglomerate Dubai World, has sold its 50% stake in Fontainebleau Miami Beach to Florida-based developer Turnberry Ltd. for an undisclosed sum.
Australia-based agricultural firm Ruralco Holdings Ltd will raise $25 million for the company's growth through a fully underwritten institutional placement that prices its shares at $3.25 apiece.
US antitrust regulators gave the green light to Gannett Co. Inc.'s $1.5 billion purchase of Belo Corporation as long as the deal excludes St. Louis television station KMOV-TV.
A person familiar with the matter told Bloomberg that JPMorgan Chase & Co plans to divest its global investment unit based in Hong Kong so it can simplify its operations.
To follow the requirements of the Volcker Rule, Citigroup Inc sold private equity unit Metalmark Capital, Bloomberg reported. The terms of the deal were not disclosed.
The proposed sale of ParexGroup, the industrial mortars business of construction company Materis, has stalled after the highest bids only reached €800 million. Materis and its private equity backer Wendel earlier asked for €1 billion for Parex.
Google Ventures released its year-end data and, and TechCrunch noted that it has done tremendously, quieting critics who had said that the investment arm of Google Inc had not secured any major deals like with Twitter and Pinterest.
PA Group, the parent company of UK's national news agency Press Association, is to sell its weather unit MeteoGroup to private equity group General Atlantic in a deal valued at £160 million (€190 million).
Power Assets Holdings Ltd. will spin off its subsidiary Hongkong Electric Company Ltd. to HK Electric Investments, a single-investment trust. Power Assets was said to be aiming for a HK Electric Investments listing early next year to raise $5.7 billion.
Dara compiled by Bloomberg indicated that investors are exiting from their gold-backed exchange-traded products this year. $69.5 billion in value was removed in the ETPs and analysts expect an additional 311 tons will be removed from the ETPs next year.
Sources said that American International Group is close to a deal to make its exit from International Lease Finance Corp. to Netherlands' AerCap Holdings NV. Under the deal, AIG will reportedly receive $3 billion in cash and $2.4 billion in stock.
Commonwealth Bank of Australia Ltd plans to sell down its 8.6% stake in Kiwi Income Property Trust, which is worth NZ$95.7 million based on its last trading price.
Royal Dutch Shell's exit of its stake in Australia-based Woodside Petroleum Ltd may enable Asian buyers, particularly China, to get a stake of or even acquire the whole company, Bloomberg reported.
The impending sale of Woori Investment & Securities Co may spur consolidation in South Korea's local securities industry. Final bids for the brokerage unit are due today.
Private equity group IK Investment Partners has revived plans to sell Germany-based fire extinguisher maker Minimax, three people familiar with the process told Reuters.