Japan's Sumitomo Life Insurance Co said it would be acquiring a 40% stake in the life insurance unit of Bank Negara Indonesia in a deal worth JPY 36.2 billion or USD 354 million.
Mergers & Acquisitions
Sources say Maybank's Etiqa mulling bid for Mega Life Asuransi Jiwa
Malaysia-based Etiqa, the insurance unit of Maybank, is said to be thinking of bidding for Indonesian insurer Mega Life Asuransi Jiwa, according to sources interviewed by Bloomberg.
PM Tony Abbott says Australia may acquire stake in Qantas
Australian Prime Minister Tony Abbott said today the government may purchase a stake in Qantas Airways to help the troubled carrier compete with better-financed rivals.
TDK subsidiary to take over Entrotech's HDD-related companies
Japanese electronics company TDK Corporation on Monday said that its Thailand-based subsidiary Magnecomp Precision Technology will buy two HDD-related companies from American manufacturer Entrotech Inc.
Canadian lenders look to wealth management for earnings growth- report
Canada's largest lenders are turning to wealth management to spur growth in the wake of the slowdown in capital markets and lesser borrowing among consumers, a Bloomberg report said.
Latest News
Wealthy businessman Johann Rupert of South Aftica has offered ZAR2.34 billion to purchase ElementOne, a company which owns a large stake in Caxton and CTP Publishers and Printers, according to the Sunday Times.
South Africa's industrial conglomerate has joined forces with unlisted drug firm Community Investment Holdings (CIH) to buy a stake in Adcock Ingram in a move that could derail Chilean company CFR Pharmaceutical's takeover bid, said a Business Day Live report.
Sydney-based gold and copper mining exploration firm Elysium Resources Ltd has successfully completed its takeover offer for unlisted Burraga Copper Ltd in New South Wales.
ONGC Videsh Ltd, Oil and Natural Gas Corporation's overseas arm, has bid for 3 out of 13 Sri Lankan oil and gas blocks in the Mannar basin.
Australia-based diagnostic device firm Sun Biomedical had been negotiating the acquisition of biodegradable heart surgery device Parvulus Medical in an exclusive arrangement that will conclude on January 15.
Canada-based uranium exploration firms Fission Uranium and Alpha Minerals have received shareholder approval for their plans to merge their respective interests in a Patterson Lake South project.
With market saturation leading to falling prices which have hurt earnings and prevented telecommunications operators from making investments, TDC Chief Executive Carsten Dilling has joined the call of his rivals for mergers.
Various private equity firms from the UK, US and Hong Kong are reportedly among those who placed initial bids to takeover Indian business process outsourcing company SourceHOV. Initial bids have valued the BPO firm at USD1 billion.
Germany based energy firm SolarWorld has bought Bosch Solar Energy in an effort to increase its influence and market share in the solar energy industry.
