RAG Foundation chief Werner Mueller said the state-owned trust looks to reduce its stake in German chemicals and plastics manufacturer Evonik Industries to about 25%. RAG currently owns two thirds of Evonik.
Investors
Grand Cinemas appoints CEO, unveils expansion phase
Parent company Gulf Film welcomed Debbie Stanford Kristiansen as new chief of its subsidiary, cinema chain for UAE Grand Cinemas as it prepares to implement plans for its next phase of expansion.
Abu Dhabi Fund to develop Montenegro luxury resort
The the government of the United Arab Emirates through its Abu Dhabi Investment Authority (ADIA) agreed to develop a luxury tourism resort in Montenegro, said Prime Minister Milo Dukanović in a statement published on his government's website.
Joint venture firms of Kalyani Group, Alstom gets approval from fair trade regulator
Fair trade regulator The Competition Commission of India said it has cleared the proposed merger of France's Alstom Power Holdings SA and domestic industrial player Kalyani Group.
China Everbright Bank raises $3 billion after adding shares in Hong Kong float
Chinese lender China Everbright Bank Co. raised $3 billion in its Hong Kong listing after exercising an option to sell an additional 762 million shares on top of its IPO base size of 5.08 billion shares.
Latest News
Indian airport developer GMR Infrastructure has put up for sale its stake in Istanbul airport Sabiha Gokcen International Airport. Malaysia Airports Holdings, which already owns a 20% stake in the Turkish airport, is looking to buy GMR's 40% holding.
The Reserve Bank of India recently announced that multinational companies can hike their stakes in Indian arms without its approval. Many MNCs are now looking to increase their stakes, go for a merger or de-list their local units.
With the reported bid for Time Warner Cable said to be readied by Charter Communications dominating the news, the New York Post reported that Cablevision may soon be approached by private equity players.
The China Securities Regulatory Commission or CSRC revealed new plans on public share sales as initial public offerings are set to resume in January next year, Reuters reported.
French alcoholic beverages company Remy Cointreau looks to form a partnership with India's largest winemaker Nashik Vintners Pvt. Ltd. Remy and Nashik Vintners are expected to launch an India-specific brand through the joint venture.
Facebook chief financial officer David Ebersman early this week sold 532,400 shares in the social networking company at an average price of $50 per share. Ebersman reportedly raised $26.2 million in the deal.
The merger of US Foods with Sysco has spoiled the plans for a $62 million US Foods expansion project in Seabrook, New Hampshire, a report said.
Google Inc. on Friday announced that it had completed the purchase of engineering and robotics company Boston Dynamics. Boston Dynamics is the eight robotics firm that the Internet giant has acquired in the last half-year.
Gregory Lee will be leading the North America Headquarters of Samsung Electronics Co. This will be in addition to his role as the President of Samsung Telecommunications America, the company said in a statement.
