RSA Insurance Group Chief Executive Officer Simon Lee resigned as the insurance company boosted its Irish reserves to £130 million or $212 million, Bloomberg reported.
Investors
Spain's Pescanova mulls over KKR consortium takeover offer
Debt-ridden fishing firm Pescanova SA is weighing a buyout offer from a consortium led by US private equity firm KKR & Co. The KKR & Co consortium, which includes investment firm Ergon Capital Partners and existing shareholders Luxempart and Damm, offered to acquire Pescanova for an undisclosed sum.
Philip Falcone-backed Fidelity & Guaranty raises $165.75 million in IPO
Fidelity and Guaranty Life has raised $165.75 million in its New York initial public offering. The Harbinger-backed insurer sold 9.75 million shares priced at $17 per share.
Israel's Arad nears deal to acquire majority stake in Mexican water firm
Israeli water meter developer Arad Group is in advanced talks to buy a 50% stake in a Mexican water-measuring company, a Bloomberg report said. The deal is reportedly worth $10 million and is expected to be closed early next year.
Israel's Cell Buddy vows to end roaming charges in mobile phones
Cell Buddy, an Israeli startup, vows to eliminate the risks of mobile phone users getting charged unexpectedly with roaming fees when traveling abroad, an Associated Press report said.
Latest News
Elder Pharmaceuticals Ltd. has put up for sale its Indian formulations business to reduce its debt. Rival Torrent Pharmaceuticals will acquire the asset for $324.1 billion through internal accruals and debt.
California-based Blackhawk Network Inc will be entering the prepaid market in Africa through a partnership with South Africa-based Opengate Technologies to distribute iTune Gift Cards to the country.
Moscow, Russia-based fund AddVenture has invested $2 million in online jewelry seller Nebo.ru and an undisclosed amount in food delivery startup Chefmarket.ru for their marketing and expansion projects.
Wal-Mart Stores Inc. on Friday appointed senior vice-president Krish Iyer as new chief executive officer of Wal-Mart India. Iyer was named the retailer's new local unit CEO two months after Wal-Mart called off its Indian joint venture with Bharti Enterprises Pvt.
Sweden-based Arcam said it had signed a deal for the acquisition of the AP&C division from Raymor Industries for a price tag of CA$ 35 million.
US-based EchoStar Corp. said it had ended talks with Vivendi SA's subsidiary Global Village Telecom on a proposed partnership in Brazil. The joint venture aims to provide pay TV services in the Latin American country.
As General Motors Co disposes its 7% shareholder interest in France's PSA Peugeot Citroen, the latter said it is currently in talks with Dongfeng about a potential tie-up.
Philippines-based oil firm Trans-Asia Oil and Development Corp has agreed to acquire an unspecified amount of shares worth PHP136 million in Frontier Oil Corp next year, the latter said in a stock exchange disclosure.
GLG Partners, a London-based hedge fund, agreed to settle claims that it overvalued the purchase of a mining asset in 2008 in a deal worth about $9 million, Bloomberg reported.
