After months of negotiations, Australia's Nine Entertainment television network, one of the country's biggest and best known, has agreed to swap more than $3 billion in debt for equity, Reuters reported Wednesday.
Regions
Overseas Union Enterprise makes record $12.7bn for Fraser & Neave
Singapore-based Overseas Union Enterprise (OUE) has made a record $12.7 billion bid for Fraser & Neave, a leading Pan-Asian consumer group with major interests in food & beverage (F&B), property, publishing and printing businesses.
Fountainvest raises $1.35 bn for fresh buyouts in China
Economic slowdown in China accompanied by new M&A-friendly regulatory norms have encouraged China-focused private equity firm FountainVest Partners to raise a second fund with the primary objective of making fresh acquisitions.
U.S. Private Equity Investor FLAG Capital to Expand Asian Footprint with Squadron Capital Acquisition
The U.S. private equity investor FLAG Capital Management announced today that it will acquire Hong Kong-based Squadron Capital, which manages $1.5 million in assets, PRNewswire reported. Its acquisition of the private equity firm will give FLAG a presence in Asia, increasing its total assets under management to $6 billion.
Earthquake in Southern Spain Linked to Farmers' Drilling: Study in Nature Geoscience Finds
A study examining the causes of the 2011 earthquake in Spain's agricultural city of Lorca, shows that years of drilling and pumping water from an underground reservoir may have triggered the 5.1 magnitude event. The May 11, 2011 quake was Spain's worst in 50 years, claiming nine lives and costing the country billions of euros in damage.
Latest News
Carlyle is planning the acquisition of a regional franchise as a tuck-in, or bolt-on acquisition for its Alamar food business in Saudi Arabia, which it bought a 43 percent stake in in December, and it is currently in the due diligence phase.
In the ultimate David and Goliath story, the China Petroleum & Chemical Corp., Sinopec, Asia's largest refiner and one of China's biggest state-owned firms, dropped its hostile bid to take over the much smaller, privately-held China Gas Holdings after a contentious struggle lasting nearly a year, according to major media stories.
After months of negotiations, the German retailer Douglas Holding, which is known throughout Europe for its perfumeries, jewelry and book stores, is well on the road to going private. The Wall Street Journal reported on Monday that the company's founding family has joined private equity firm Advent International in a takeover offer.
Greek's ancient Port of Piraeus is half-owned by the Chinese-owned giant Cosco, which has tripled the volume of cargo traffic there since 2010. The trade-off is in workers' salaries and employment protections.
The London-based HouseTrip, which allows users to rent out their homes while they're away, raised $40 million in its third-round of funding, from Europe's three largest venture capital firms.
Reuters reported today that big private equity firms will bid for Ingham Enterprises, Australasia's largest poultry producer, according to confidential sources.
The New York Times reported that an "ambitious three-step plan" to side-step the economy's looming "Fiscal Cliff" on Jan. 1 has garnered bipartisan support according to lawmakers and aids.
San Francisco-based venture capital firm Valar Ventures Management led a $10.47 million round of financing in the up-and-coming Brazilian furniture e-commerce store, Oppa, according to securities filings obtained by The New York Times. It is the firm's first venture into Brazil.
Last week the Indian government announced that it was increasing the limits for foreign investment in insurance joint ventures, and opening the pension system to foreigners.
