Allete Clean Energy, a subsidiary of US power company Allete, recently announced its acquisition of three wind farms located in Minnesota, Iowa, and Oregon, for USD27 million.
Regions
Saputo's AUD449 million bid permitted by WCB board and Australian government
Canadian company Saputo Inc's AUD449 million offer for Warrnambool Cheese and Butter Factory Holdings Ltd. has been recommended by the WCB board and subsequently approved by the Australian government.
Reuters: Iran's Setad controls properties worth more than Iran's oil exports
The Setad, an entity created by the first Ayatollah, now had expanded its business interests to real estate and nearly twelve other Iranian companies both locally and worldwide.
US Pipe acquires completes acquisition of Fab Pipe
Birmingham-based United States Pipe and Foundry Co. and US Pipe Fabrication acquired Minnesota-based company Fab Pipe Inc. to expand its waterworks fabrication and distribution network in the Midwest.
Hedge funds find their way to invest in municipal debt market
Hedge funds are now entering the municipal debt market, finding a veritable gold mine in value but may provide more problems in the long run as to the temporary nature of the investments.
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Telecom Italia, the largest telecommunications company in Italy, will be selling its controlling stake in Buenos Aires-based Telecom Argentina to investment firm Fintech for EUR4 billion.
The People's Bank of China had undertaken a program of lowering money supply to avoid further inflation, but this may lead to lack of financial support
Emulex Corp announced that it would be holding a share buyback as activist shareholders called for reforms. Emulex Executive Chairman James McCluney will also step down from the company's board.
KPMG launched its new USD100 million investment fund, London-based KPMG Capital, which would help identify and develop big data analytics firms all over the world.
T-Mobile, a mobile service provider based in the US, had put up for sale its 66.15 million shares worth USD1.96 billion to improve its capacity for wireless data services.
In a recent statement, the State-owned Assets Supervision and Administration Commission or SASAC had welcomed the move to allow the private sector to purchase interests in state owned or controlled corporations.
Legg Mason Opportunity Trust Manager Bill Miller said he bought JC Penney debt for a new fund. Miller holds the record of beating the US benchmark for 15 years.
London-based Armajaro Holdings Ltd sold its coffee, cocoa, and sugar trading arm to Swiss agricultural trader Ecom Agroindustrial Corp Ltd after reporting a loss of USD7.5 million.
Many analysts say the lack of transparency may put the free trade zone experiment in China in jeopardy, unless it is confirmed as one of the economic priorities of the Third Plenum of the Chinese Communist Party.
