Smithfields Food split recommended through letter by shareholder. One of the biggest shareholders in Smithfield Foods Inc has formally recommended to the board to split America's largest hog producer into three separate distinct units.
Sectors
Chesapeake Energy To Sell Interest To Raise Cash
Chesapeake needs to raise cash, chooses to sell off properties. The US natural gas producer Chesapeake Energy Corp would need to sell as much as US$7billion in order to make up for a projected cash funding issue.
Pantaloon Sells 22.5% Life Insurance Venture Stake To Industrial Investment
Pantaloon has agreed to shed off its 22.5% in a life insurance venture it has with Italian Assicurazioni Generali.
Centrica Taps U.S. Firms for LNG Deal
Centrica is in talks with U.S. LNG Players to secure UK long-term liquefied natural gas import deal.
Private Equity Firms Seek Limited Role of Japan's Government Funds
Private equity companies are calling to the Japanese government for the limited role of the country's two largest government funds which have been successful in taking over companies.
Latest News
The interest of CVC Capital Partners is being sold in the market drawing much interest. CVC Capital Partners, who is backed up by Och-Ziff Capital Management Group LLC and Schroders, the asset manager, has raised US$200 million in pledges.
CNOOC to guarantee Nexen bond issue. Nexen is seeking to amend its current terms of debt with holders of almost US$4 billion worth in bonds. The amendments seek to remove some of the conditionalities as well as add CNOOC as guarantor of the bond issue.
Klaus-Michael Kuehne,Hapag-Lloyd's co-owwner,told that the company and its merger partner Hamburg-Sued will be having equal rights for the combined company.
The listing of Mando's Chinese unit would be done in the Hong Kong bourse. The largest unit of the Halla Group of South Korea is planning to undertake an initial public offering of its Chinese unit.
Atlantia and Gemina Boards discuss merger terms. The respective boards of Atlantia, the Italian motorway company and Gemina, the owner of ADR is expected to approve the terms of their proposed merger by Friday.
OneWest, the bank from bankrupt IndyMac, is now interested in growth plans either through IPO or through outright sale.
Chrsyler asks for IPO or buyout options from banks. Chrysler has invited banks to offer pitches scheduled for next month for IPO scenarios and results according to four individuals familiar with the decision.
Ingham Chicken get bids from private equity firms. Final bids have been placed for Inghams Chicken, Australia's biggest poultry producer and two of the front runners are US private equity firms Blackstone Group LP and TPG Capital.
Sharp is lining up share sales and selling off assets to help pay off its bond issue due on September.
