Walter Energy set to sell assets and cut budget for 2013. In the middle of a disagreement with a British investor who is calling for the replacement of majority of the board members, Walter Energy Inc mentioned plans of shutting down mines that are not generating income.
Investors
Idemitsu to Purchase Canadian LNG Stakes
Idemitsu gets management shakeup and plans future. The third largest refiner in Japan, Idemitsu Kosan Co is keenly interested in the acquisition of stakes in Canadian gas fields.
AirAsia Purchased Shares from Zest Airways
Air Asia continues its expansion plans in South East Asia. AirAsia's subsidiary in the Philippines has decided to purchase 49 percent of Zest Airways as their initial step in expanding their business into the Philippines.
Temasek Purchases 5% of Evonik
Temasek buys stake in Evonik. Temasek Holdings, the Singapore state investor will purchase shares in the German company, Evonik Industries according to people close to one of the owners of Evonik.
Buyout Offered for Simcere Pharma
Chairman of Simcere to buyout shares. A consortium led by its Chairman Jinsheng Ren has offered to buyout Simcere Pharmaceutical Group. The China based pharmaceutical firm was priced at US$9.
Latest News
Hostess Brands now being bidded on. The main creditor of Hostess Brands, Silver Point Capital and hedge fund firm Hurst Capital have expressed interest in purchasing Hostess snack cakes brands according to a report by the New York Post.
E.ON still on its plan to divest non-performing assets. The largest utilities service provider in Germany E. ON has denied reports that it would spin off its renewable energy unit in order to reduce outstanding debt of in its balance sheet.
Investment firms circling over the exit of CVC from Matahari. PT Multipolar Tbk and CVC Capital Partners have joined forces to peg US$1. 36 billion value to sell shares in retailer PT Matahari Department Store.
Lender engages six banks to facilitate bond sale. Dubai's largest lender, Emirates NBD, has engaged the services of six major banking institutions to arrange a subordinated bond sale for the company.
Henkel is the front runner for the vacant ThyssenKrupp Chairman position. Ulrich Lehner, former Henkel CEO is tabbed to be the next chairman at ThyssenKrupp.
CEDC is receiving offers for purchase from Russian billionaires. The rivaling offers from Russian billionaires to rescue the Polish vodka maker CEDC is spurring rumors that the company would be able to stave off bankruptcy.
Investment Dar sells off stake to pay debts. The controlling shareholder for Aston Martin, the British car maker is Investment Dar Co. The company has agreed to sell its stake in the beleaguered Bahraini Islamic Bank for US$92 million as the company restructures its debts.
Bank extends loan to DAFZA Dubai Airport Freezone (DAFZA) was granted a credit line of AED500 million (US$136million) by Abu Dhabi Islamic Bank (ADIB).
UAE company manages Australian expansion of Baskin-Robbins. The world's most well-known and largest chain of ice cream specialty shop, Baskin-Robbins, has released a statement regarding its plans to open another 200 shops in Australia.
