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.
Investors
GSK to hike stake in Indian subsidiary for $1.02 billion
British pharmaceutical corporation GlaxoSmithKline on Monday announced that it would buy up to 20.6 million shares in Indian subsidiary GlaxoSmithKline Pharmaceutical Ltd. for a total of $1.02 billion.
AIG nears deal to sell ILFC to AerCap Holdings
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.
New bourse aims to attract Chinese firms to list in Australia
Asia Pacific Stock Exchange (APX), a new bourse that aims to lure Chinese firms, has received final approval from the Australian Securities and Investments Commission to start operating.
Indian companies strike 393 private equity deals totaling $9.67B in January to November
A report by Grant Thornton, an American accounting and advisory firm, said that Indian corporations closed as many as 393 private equity deals totaling $9.67 billion in the past 11 months of the year.
Latest News
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.
Insurance Australia Group Ltd (IAG) bought the Australian and New Zealand underwriting business of Western Australia's farmers' cooperative Wesfarmers Ltd for $1.845 billion.
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.
BlackRock Inc will have to say on Monday what stake it holds in Italy's biggest telecom operator Telecom Italia, after the Italian market watchdog threatened to fine it for not disclosing an increase.
The following bids, mergers, acquisitions and disposals were reported on Friday including ITC Holdings, Dave & Buster, Time Warner Cable, Banca Etruria, Cube Capital, Cargolux, Simon Property and Versace.
Some industry observers believed excess liquidity spurred by central banks' economic monetary policies could result to asset bubbles in niche markets by year 2014.
At a luncheon meeting hosted by Keidanren lobby group and the Japan Chamber of Commerce and Industry, corporate leaders expressed the key importance of the Association of Southeast Asian Nations for the revival of the Japanese economy.
A Sprint and T-Mobile merger will most likely not happen as the former needs to overcome certain hurdles to ensure that a smooth transition could take place, according to a ZDNet article.
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.
