Portugal is raising EUR578 million (USD783 million) in the initial public offering of its postal service CTT-Correios de Portugal SA. The Portuguese government is divesting its 70% stake in the mail service.
Regions
Rio Tinto to cut capital spending in half by 2015
As the second-biggest mining company in the world, Rio Tinto Group, struggles against the drop in mineral prices, the company resolved to reduce its capital spending to around USD8 billion in 2015.
COLUMBUS NOVA ACQUIRES CONTROLLING INTEREST IN CIFC
Columbus Nova, a New York-based multi-strategy investment firm, announced today that it will acquire a controlling interest in the CIFC.
Rocket Internet-backed Zalora and The Iconic nabs USD112 million in funding
German startup accelerator Rocket Internet raised USD112 million in new funding for online fashion retailers Zalora and The Iconic, making it the biggest single investment made for an e-commerce company in the Asian Pacific region.
US stock index futures decline on Fed taper timing concerns
U.S. stock index futures fell on Tuesday, indicating the S&P 500 may fall for a third consecutive day on concerns a reduction in stimulus by the Federal Reserve may be on the horizon earlier than some had anticipated.
Latest News
German startup navabi, which sells designer brand clothing online, drew EUR10 million in new Series C funding from institutional investors led by private equity firm Index Ventures.
According to sources interviewed by Bloomberg, private equity firm KKR & Co has hired Goldman Sachs Group Inc to assist them in the sale of UN Ro-Ro Isletmeleri, a Turkish shipping company.
Top credit ranking Johnson & Johnson reportedly sold USD3.5 billion in a six-part bond issue, its first offering in the last two years. Proceeds from the deal will be used to pay the health care product manufacturer's outstanding debt.
Joint venture company Tata Cleantech Capital Ltd said in a Bloomberg interview that it could finance up to USD 401 million in Indian renewable and energy efficient projects.
Betfair, a UK-based online gambling firm, said it is setting its sights on Italy and the US after retreating from other markets due to tax rates and unfavorable regulations.
Dubai property firm DAMAC raised USD348 million in its first trading day in the London Stock Exchange. A week ago, DAMAC reduced the deal size to USD400 million and fixed the final price at USD12.25 per global depositary receipt (GDR).
Negotiations between GAIL India and UK-based Ophir Energy about a possible sale of the latter's stake in Tanzania gas assets are still ongoing. Ophir's earlier share sale deal with Pavilion Energy has been initially seen as a setback in the talks.
Sources interviewed by Bloomberg said Citigroup Inc is planning to give distribution rights to sell its products in Asia to at least two insurance firms.
UK-based multinational publishing and education company Pearson reportedly agreed to buy Brazilian Grupo Multi for GBP440 million in a cash and debt assumption. Grupo Multi provides English language training to over 800,000 students in Brazil.
