Russia's richest man, Alisher Usmanov, is selling a stake worth 7.4% in the Internet group Mail.Ru.
Industry
Anschutz to Reach Deal with Potential Bidders
Potential bidders are coming up with a deal to acquire assets of Anschutz Entertainment Group. Sports and retail estate company Anschutz Entertainment Group (AEG) is set to come up with a deal from potential bidders including Patrick Soon-Shiong, Guggenheim Partners LLC and Colony Capital LLC, according to people familiar with the matter.
Auction of Catalunya Banc Draws Spanish Lenders
Lenders in Spanish has been eyeing to acquire nationalized Catalunya Bank, which was bailed out last year amidst the crash of Spanish proper five years ago.
Best Buy Declines a Minority Investment Deal
Best Buy Co. has rejected an offer for minority investment from past chairman Richard Schulze's private equity sponsors.
Bank of America Faces New York Attorney General Investigation Over Home Loans
In its filing with the U.S. Securities and Exchange Commission, BofA disclosed that the state of New York has been investigating how it acquire and underwrites home loans.
Latest News
Mediwatch and Genesis Medical have agree to dissolve their joint venture after they did not agree on several commercial aspects during their negotiations.
There is still no timetable agreed when to dispose the 82% stake of the government in Royal Bank of Scotland.
Scams on fraudulent private equities rob individuals of hard earned money. The city of Tianjin in China was rocked with controversy as thousands of retail investors claimed they were tricked by a group that offered illegal wealth management products.
BCBG Max Azria Group Inc. has been consider to be sold as it faces financial struggle. Fashion house BCBG Max Azria Group Inc. is set to launch company sale that would draw around $1 billion, according to sources familiar with the matter.
Telecom Italia Media is expected to sell its La7 TV channel but is still in talks to sign the deal. Telecom Italia Media said that it has plans of selling its La7 TV channel to the publishing house in Cairo, Egypt and is still in negotiation of signing the deal, according to two people familiar with the issue.
China Asset Management predicts rebound in Chinese stock prices for 2012. According to China Asset Management Co, stocks of Chinese companies would rally in value as the government continues to find ways to augment the economic recovery of the country.
JP Morgan CEO issues warnings on capital hoarding. JP Morgan Chase and Co CEO Jamie Dimon said in a conference that lenders are accumulating more capital than needed.
Keith Rabois, who had served Square as chief operation officer since 2010, will join Khosla Ventures in March.
The government of Japan is making plans for the sale of Japan Tabacco's 17% stake. Japan's government has been in preparation to make sale of almost 17% of long-held state asset Japan Tobacco, expected to fetch up to about %10 billion, according to sources.
