Directors hope to reap same success in Mozambique project. Three major executives that took part in the creation and sale of Cove Energy Plc have come together again to raise funds for an oil and gas exploration project in Mozambique.
Investors
Cerberus Plans Stake in Seibu
Cerberus increases stake in Seibu. Cerberus Capital Management, the American private equity forum, is seeking to increase its stake in Seibu Holdings, the Japanese railway and property group.
Barclays to Establish African Equity Fund
Absa, a Barclays subsidiary to establish fund to purchase African equities. The Johannesburg based subsidiary of Barclays Plc, Absa Asset Management is planning to establish a US$100 million fund to be used to invest in African shares.
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.
Latest News
Sistema Shyam Teleservices wins bid in eight telecommunication zones. The Indian mobile phone subsidiary of Sistema, Sistema Shyam TeleServices has won the right to operate in eight telecommunication zones in India.
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.
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.
