The UK government could sell off its remaining 33% stake in Lloyds Banking Group next year to complete the privatization of the lender, according to sources familiar with the process.
Sectors
US shoemaker Crocs' chief to retire as Blackstone picks up $200M stake
The Chief Executive Officer (CEO) of Colorado, US-based plastic clogs maker Crocs Inc is set to retire, and Blackstone Group LP will acquire a $200-million convertible preferred stock in the struggling shoemaker.
Australian IPO poised to grow in 2014 despite poor performance this year
The initial public offering (IPO) pipeline of Australia is set to improve along with merger and acquisition activity in 2014 despite poor performances this year, according to investment bank UBS.
China-based logistics firm EMS withdraws IPO application
China Postal Express and Logistics Co Ltd (EMS), the biggest integrated logistics service provider in China announced on Friday the withdrawal of its application for an initial public offering (IPO).
Digital assets should be part of our wills -study
Social media accounts and internet downloads should be considered part of a person's estate and be included in wills to be handed down as inheritance.
Latest News
The leveraged buyouts in Europe are surging as US distress investors purchase existing bank loans at steep discounts and move to take over the companies by exchanging their debt for equity in "loan-to-own" deals in the wake of the financial crisis.
Qatar-based oil and gas drilling company Gulf Drilling International (GDI) is poised to become a wholly-owned subsidiary of Gulf International Services (GIS) with the latter acquiring the entire 30% stake held by Japan Drilling Corp (JDC), according to a GIS spokesman.
Irvine, California-based business analytics firm CoreLogic bought Oakland, California-based catastrophe risk modeling firm EQECAT for a yet undisclosed sum from its parent company ABS Group.
Majority of the stocks in Gulf markets recorded impressive gains this year, proving that the region has been recovering from the effects of the worldwide financial crisis in 2008 and 2009, Arabian Business said in its report.
In its bid to improve the growth of the company overall, Dubai conglomerate Al Habtoor Group had commissioned a shakeup of its boards across all of its business units, including its legal and audit boards.
The DealBook said in its report that banks in China are steadily making strategic acquisitions offshore and opening its businesses outside of the mainland, thanks to recent economic reforms.
Angel funding in Russian companies were 4.5 times more than funding from angel investors in 2012, according to a joint study by National Association of Business Angels (NABA), Atom Partners and RVC.
The American Bankers Association, a representative of majority of the community banks in the US, said the provision on banning investments in collateralized debt obligations will result to the lenders losing $600 million in the process.
Shareholders of Banca Monte dei Paschi di Siena SpA reportedly sided with main shareholder Fondazione Monte Paschi with regard to postponing the cash call until May of next year.
