China's State Grid Corp purchases 19.9% shareholdings in SP AusNet for US$802 million. In an announcement, the State Grid Corp of China is purchasing shareholdings in an Australian electricity network company.
Sectors
Jain and State Bank of India to Help Indian Farmers
Jain Irrigation and State Bank of India to provide assistance to Indian farmers. The largest lending institution in India, the State Bank of India, is working out a partnership with Jain Irrigation Systems Ltd, the largest irrigation equipment manufacturer in Asia, to provide planned assistance to Indian farms in the reduction of water usage yet at the same time increase productivity.
CommonWealth REIT Employs all the Takeover Bid Defense Tactics
Corvex and Related Fund have been trying to takeover CommonWealth REIT but has been thwarted by the provisions in the REIT bylaws.
Sun Capital Offers Emerald to the Market
Sun Capital offers Emerald Performance for the tidy sum of US$700 million. Sun Capital Partners, the US private equity firm, is offering to sell specialty chemicals firm Emerald Performance Materials in a deal purportedly worth US$700 million.
Blackstone Creates High Risk Fund
Blackstone, believing in the high risk high reward appetite of the market, is creating a fund for the riskiest of trades.
Latest News
Dell reported decline in its profits. Dell Inc has reported a 79% decline in its profits as sales for personal computers continued to contract in the face of greater demand for mobile devices.
Bayer AG purchases Steigerwald for an undisclosed amount. The largest pharmaceutical firm in Germany, Bayer has announced it has agreed to purchase Steigerwald Arzneimittelwek GmbH, a privately owned maker of herbal medications.
Vikram Pandit, the former CEO of Citigroup would be part of the JM Financial management team to grow the business.
Dnata purchases shares of Air France-KLM in Servair Airchef. Dnata, the Emirates airline services arm has purchased Air-France KLM's shareholdings in a joint venture catering business in Italy.
When break even price achieved for Lloyds TSB shares, then Britain would be able to divest its shareholdings in the bank.
Elliott Management withdraws proxy fight with three board seats on the Hess board prior to elections.
BitPay Inc receives another US$2 million in seed money. Bitcoin's payment processor, BitPay Inc. , announced on Thursday that it was able to raise additional US$2 million from its initial capital growth financing round headed by the Founders Fund.
Accel Partners invest funds into Airwatch development. AirWatch, said on Thursday that Accel Partners invested US$25 million in their company. The world- renowned innovator in mobile security and biggest provider of Enterprise Mobility Management (EMM) has over 6,500 clients with an estimated 1,200 associates worldwide.
Erste Group Bank has confirmed the ability to pay off state bailout funds but did not provide a schedule for the same.
