Co-operative Bank and its parent Co-operative Group on Friday announced that it had successfully completed raising £1 billion for its rescue plan. The British bank with raise about £500 million more from Co-op Group, its bondholders and its interest savings to complete its target fund of £1.5 billion.
Sectors
Cessna plane maker Textron to acquire Beechcraft for $1.4 billion
Textron Inc., the maker of Cessna planes, reportedly agreed to takeover aircraft manufactured Beechcraft Corporation for $1.4 billion. Beechcraft has put up itself for sale after emerging from a bankruptcy protection earlier this year.
Eagle Merchant Partners says it won't sell Arcapita's assets
Eagle Merchant Partners, the firm managing the legacy portfolio firms of its former parent bank Arcapita, said it will not be selling Arcapita's assets for cents on the dollar, The Wall Street Journal reported.
Dallas-based Panda Power Funds to start construction immediately on new power plant acquired from Moxie Energy
Panda Power Funds said it will begin construction right away on the second power plant it had bought from Moxie Energy, with commercial operations set to start in the middle of 2016.
Texas-based Michaels Stores reorganizes its previous plans to undertake an initial public offering
Michaels Stores, a retailer of arts-and-crafts based in Texas, has reorganized its previous plans to undertake an initial public offering, the Wall Street Journal reported.
Latest News
California-based firm Zimperium has raised $8 million in a funding round led by Sierra Ventures to develop its mobile technology that helps protect WiFi network users from hacker attacks.
Singapore's National Research Foundation has poured in $500,000 in funding in health care startup Ring.MD to give Asian residents easier access to healthcare services online.
Global private equity firm Providence Equity Partners will be exiting trade show company George Little Management to trade show operator Emerald Expositions Inc for $335 million.
Germany-based incubator program Rocket Internet is planning to team up with telecom provider MTN Group to form Middle East Internet Holding (MEIH), which will invest $410 million to develop e-commerce firms in the region.
AlienVault, a provider of Unified Security Management solutions, secured $30 million to close its Series D round led by GGV Capital and first announced in September
UK engineering solutions provider Costain Group Plc exited its minority stake in three joint ventures to publicly traded water utility Severn Trent Plc to raise investment funds and working capital.
New York, US-based multinational private equity firm Blackstone Group LP acquired a minority stake in Edens shopping center in a deal valued at $718 million.
Turin, Italy-based car maker Fiat SpA restarted negotiations to purchase the remaining shares of US-based auto manufacturer Chrysler Group LLC, according to sources familiar with the matter.
Singapore's national flight carrier Singapore Airlines Ltd announced on Friday its purchase of an additional 7.3% equity stake in budget carrier Tiger Airways Holdings Ltd in a deal valued at S$49 million ($38.7 million).
