China Petrochemical Corp.'s unit, Sinopec International Petroleum Exploration & Production Corp. had agreed to pay USD3.1 billion for Apache's Egyptian oil and gas businesses.
Investors
Govt. official says Walmart India plans possibly at final stage
According to a top Indian government official, Walmart's plans of getting into the country's multi-brand segment could be at its final stage.
Perry Corp. increases shares in J.C. Penney
Richard Perry's fund, Perry Corp. had increased its holdings in JC Penney Corp. by adding 3 million shares in the stake it already owns in the retailer.
Fears of anti-bribery legislations slows down M&A in India
Merger and acquisition deals in India had slowed down after fears on US and UK anti-bribery laws threatened investment.
America Movil says it would not raise KPN offer
Arturo Elias, Carlos Slim's chief spokesman said America Movil had no intentions of raising its offered bid for the remaining stake of KPN.
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Vodafone Group had announced selling its 45% stake in Verizon Communications that would end a 14-year old venture.
Zurich Insurance's Chairman Josef Ackermann resigned abruptly following the death of the company's CFO Pierre Wauthier.
American Express was said to compete for a stake in Foursquare Labs. American Express Co. had been reported to compete for an equity stake in Foursquare Labs.
Zurich Insurance Group dispelled its concerns about the resignation of Josef Ackermann in the wake of its CFO's death.
Canada-based Demeure announced receiving USD4 million from its third round of seed funding. Travel marketplace Demeure had raised USD4 million in its third round of seed funding.
Private equity firms perform at higher levels in terms of buyout financing compared to the previous year.
According to a Bloomberg report, the potential nomination of a Federal Reserve outsider made investors scramble for advice on whether the news would have an effect in financial markets and monetary policy.
James Boyne, erstwhile Calamos Investments President and COO resigns to pursue non-profit work. In an announcement last Thursday, Calamos investments announced that the firm's President and COO would be leaving the company by September 30.
According to technology news site Techcrunch, Pure Storage's recent USD150 million funding was a step to dominate the flash storage market.
