Exits

Investors pull back from Lampert's fund -NYT

More investors discouraged by the declining fortunes of ESL Investment's stake in Sears Holdings Corp. are heading for the exit. American billionaire Edward Lampert owns ESL Investments and leads Sears Holdings.

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VTB of Russia gets USD1.2 billion from its 50% stake divestment in Tele2

According to third quarter results released by Russian bank VTB Group, the bank already sold a 50% stake in Tele2 that it acquired earlier in April this year for RUB40.4 billion or USD1.2 billion.

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Demise of Blockbuster UK looms

Moorfields Corporate Recovery, the administrator for Blockbuster UK, said the video rental company is doomed to close after efforts to find a buyer had failed, a Bloomberg report said.

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LeapFrog Investments divests Ghanaian insurance firm Express Life to Prudential

LeapFrog Investments exited from Express Life, a Ghanaian insurer, by selling a majority stake it held in the firm to Prudential Plc for an undisclosed amount.

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France's Materis in exclusive talks on EUR610 million Kerneos sale

French building materials business Materis is reportedly in an advanced stage of negotiations to sell its business unit Kerneos. Investment firm Astorg Partners will acquire Kerneos for EUR610 million.

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Source says Heron International Ltd wants GBP 18 million for penthouse

A source told Bloomberg that property investment and development company Heron International Ltd will be selling a penthouse in its residential tower in London for GBP 18 million.

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Australia's APN exits from outdoor advertising stake for USD69 million

Australia-based news firm APN News & Media has agreed to exit from its remaining stake in outdoor advertising company APN outdoor for USD69 million, prompting a 5% increase in its shares.

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TDR Capital to exit 8% stake in British life insurer Phoenix Group

Private equity firm TDR Capital will sell half of its entire stake in insurance company Phoenix Group for about GBP127 million. TDR will sell 18 million shares out of its total 35.9 million shares in Phoenix.

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General Motors looks to sell stake in Ally Financial

General Motors Corporation LLC is looking to put up for sale the last of its holdings in Ally Financial Inc. via a private placement. Ally, GM's financing arm, is reportedly eyeing an initial public offering.

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Credit Suisse sells private customers business to German Bethmann Bank

Switzerland's Credit Suisse is selling its private customers business to German Bethmann Bank. Under the deal, Bethmann will take over Credit Suisse's 9,000 clients with EUR10 billion assets in Germany.

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Shares of Australia's Dick Smith see a five-fold increase in stock market debut

Australia electronics chain Dick Smith Holdings Ltd's rise on the Australian Stock Exchange had put its enterprise value to five times its value at the time of its buyout at AUD534 million.

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Hong Kong's Wing Hang taps Goldman Sachs to advise on proposed sale

Owners of Hong Kong lender Wing Hang Bank Ltd. had received preliminary bids for its sale. It has engaged Goldman Sachs Group Inc. to advise it on the deal. Wing Hang plans to sell the company for USD4.5 billion.

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Shui On exits Taipingqiao project to China Life Insurance Group

Real estate major Shui On Land Ltd. is divesting its entire stake in the company that operates the Taipingqiao project in Shanghai for USD545 million. The Chinese property company is selling its assets to repay debt and improve its financial position.

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India's Mahindra Holidays shares rally 5% after stake sale

The stock of India-based Mahindra Holidays rose 5% after the company announced it had sold all its shares in two hotel firms in Austria for an undisclosed sum.

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