HSBC winds up Hermitage Fund. HSBC Holdings Plc has closed down Hermitage Capital Management and its Russia Fund. The fund's co-founder, William Browder, is now facing charges of libel in London and concurrently being tried in Moscow for tax evasion.
Sectors
Printemps offers worry Union
The pending sale of Printemps has worried union representatives as to possible job cute. Printemps, the French department store, is now nearing completion of its sale to Qatari investors, The projected deadline is as early as this summer with the timetable for the deal now being prepared for the staff.
French State Safran Shares for Sale
The French Ministry of Finance is selling 3.12% interest over the aerospace company Safran. The 3. 12% shareholdings of France in Safran is up for sale.
CBS Liongate Venture Acquires TVGN
CBS and Lionsgate form a joint venture to acquire cable company TVGN and its website TVGuide.com. Lionsgate and CBS Corp have teamed up to operate the cable network TVGN and its website TVGuide.
Tata Steel to Sell Bonds to Refinance Debts
Tata Steel is now in the process of finding banks to facilitate the sale of bonds for its debt refinancing purposes.
Latest News
The owners of the Atlantis in Dubai resorts have finalized a debt restructuring deal. In an announcement, Kerzner International Hotels Ltd has completed a deal to restructure its US$145 million debt.
Doha Bank releases two part issue to increase capitalization. Qatar's fifth largest lending institution in terms of market value has announced that its issue valued at QAR1.
LDK transfers more shares under a purchase agreement with Fulai. LDK Solar Co's share values has declined nearly three fourths since 2012 and has now sold additional shares to Fulai Investments at discounted rate of 30% of value from last month.
The world's largest chipmaker is finalizing terms with media outlets as to a new pay per tv service.
Warren Buffet, an American businessman, will become one of the ten largest shareholders in Goldman following a deal he signed with the bank to exchange his profits on warrants for stock.
The buyout of Brazilian power holding firm Grupo Rede Energia SA by rivals SA is unlikely to be prevented by opposition from foreign bondholders, several sources familiar with the matter told Reuters.
Deloitte is said to have discussed in advance its plan to buy Germany's Roland Berger Strategy Consultants
Australia's Sundance Resources says that Hanlong would not be able to meet the deadline to show credit approval for its takeover offer.
Great Britain's search and rescue helicopter services will be sold to United States-based Bristow Group for 1.6 billion pounds.
