Share trading of Chong Hing Bank and its parent company were suspended temporarily pending confirmation of the sale of the bank to Yue Xie Group.
Investors
Saudi debt and equity capital markets hire HSBC on deals
Saudi Arabia borrowers hired HSBC to manage their debt and equity capital market deals. HSBC Holdings said borrowers in Saudi Arabia had obtained its banks services to manage several debt and equity capital market transactions.
OCBS mulls bid for Wing Hang Bank- sources
Sources told Bloomberg that Singapore-based Oversea-Chinese Banking Corp was reviewing a bid for Hong Kong-based Wing Hang Bank.
Massachusetts state pension fund ranks first in private equity investment returns- study
The state pension fund of Massachusetts ranked the first in private equity investments, according to a report from the Private Equity Growth Capital Council.
Inbursa in talks to acquire Standard Bank's Brazil unit for USD 59.3 million
Grupo Financiero Inbursa was in discussions with Standard Bank Group to buy the latter's Brazilian business, sources told Bloomberg.
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Radian Group filed a case against former account manager Rhiannon Bolen for giving confidential data to Arch Capital Group.
Aircraft maintenance services provider HAECO expands services portfolio with the acquisition of Timco Aviation Services,Inc.
E*Trade Financial would be selling G1 Execution Services unit for USD 75 million. E*Trade Financial Corp would be selling market-making arm G1 Execution Services to Susquehanna International Group in a deal worth USD 75 million.
A report from Canadian newspaper Globe and Mail said that John Sculley, a former Apple CEO, was mulling a possible bid for BlackBerry.
ING Groep raised USD 974 million from selling its New York-based US insurance business. Amsterdam-based financial services firm ING Groep was able to gather USD 974 million or EUR 706 million from the sale of its US business.
With a return of just 6.4% per year in traditional investment vehicles, a shortfall of 1.6%, many pension funds opt to invest in alternative options which promise higher returns.
The suits claim breach of fiduciary duties, flawed sales process and inadequate consideration for the Tellabs sale to Marlin Equity.
Brazil sold dollar bonds amounting to USD 3.2 billion set to mature in 2025 and established a new benchmark in international markets.
The US Navy sold the USS Forrestal to All Star Metals for one cent. Texas-based shipbreaker All Star Metals purchased the decommissioned USS Forrestal for one cent.
