Qatar-based oil and gas drilling company Gulf Drilling International (GDI) is poised to become a wholly-owned subsidiary of Gulf International Services (GIS) with the latter acquiring the entire 30% stake held by Japan Drilling Corp (JDC), according to a GIS spokesman.
Aliko Dangote, Africa's richest man with about $22 billion net worth, is set to spend $9 billion to build the largest privately-owned oil refinery in Nigeria.
Lanco Infratech on Friday reportedly met with a consortium of over 25 lenders to discuss details on its proposed INR7,500 crore corporate debt restructuring deal. The said deal will also give the cash-strapped company access to a new credit of INR3,500 crore.
Infrastructure group Invepar SA has won the rights to operate a 937-kilometer stretch of Brazil's BR-040 highway, connecting Brasilia to Rio de Janeiro. Invepar is expected to invest $3.2 billion in BR-040 over the next three decades.
Shares of debt-laden construction firm FCC SA leaped by as much as 8.8% on Friday following news that American hedge fund Soros Fund Management, controlled by billionaire George Soros, had acquired a 3% stake in the company.
South Korean oil refiner operator GS Holdings Corp entered into an agreement with commodity trader LG International Corp to acquire a combined stake in STX Energy for $598 million.
Russian oil producer Rosneft said on Friday that it does not have any plans to make strategic acquisitions after agreeing to acquire Morgan Stanley's oil trading unit last week.
State-owned steel maker Steel Authority of India (SAIL) and the country's largest energy explorer, the Oil and Natural Gas Corporation, are in preliminary talks about jointly exploring coal-bed methane in Indian coal blocks. SAIL wants to use coal-bed methane to reduce input costs.
Commodity analysts believed that the successive probings into mining deals in India could become a factor in the potential disinterest of investors pouring in funds into the country.
Oil giant Royal Dutch Shell on Thursday announced that it has renewed an option to buy land in Monaca,Pennsylvania owned by metal-processing company Horsehead Holding Corp. Shell has a $2 billion ethylene plant building proposal for the said site.
Brazil-based iron ore mining giant Vale said it will sell its stake in Brazilian logistics firm Log-in Logistica International and auction its capital in phosphoric acid firm Fosbrasil.
Investors seemed to be positive with regard to news from former Brazilian billionaire Eike Batista about Oleo & Gas Participacoes SA's creditors agreeing to convert $5.8 billion worth of company debt into equity stakes.
China-based construction equipment manufacturer Zoomlion Heavy Industry Science & Technology Co has bought Germany-based dry mortar equipment producer M-Tec, according to a statement on the company's website.
Bankers expressed their doubts that Royal Dutch Shell's 23.1% stake in Woodside Petroleum could be snatched up by bigger oil companies as the latter are also eyeing to sell assets as well.
Brazil-based iron ore miner Vale agreed to sell a stake in logistics company VLI SA to Canadian firm Brookfield Asset Management in a deal valued at BRL2 billion ($842.78 million).
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