Wall Street banks including JPMorgan, Goldman Sachs, Bank of America Merrill Lynch and Morgan Stanley have been calling on private equity firm Ares Management to go public soon. Ares, however, does not see the need for a public offering in the near future.
Sectors
Public, private equity helps Wellcome Trust's investments gain 18pct
With the help of both public and private equity, the investments of Wellcome Trust was able to return 18% in the year that ended September 30, Bloomberg reported.
Former SAP executive John Sims to head BlackBerry's key business segment
Troubled smartphone maker BlackBerry on Tuesday announced that John Sims will join the company as head ofmits gloabl enterprise services business. Sims is a former executive at German software firm SAP.
Microsoft Corp's CEO contender Nadella huddles with Paris startups
While the search for the next CEO of Microsoft Corp intensifies. lead contender Satya Nadella took the time to mingle with Paris startups in a conference, Bloomberg reported.
Peru's Petroperu intends to raise $2.7 billion for refinery expansion
Petroperu will be seeking to riase $2.7 billion to fund the modernization and upgrades of its Talara refinery. About half of the funds will come from international investors, Reuters reported.
Latest News
US-based specialty healthcare company Endo Health Solutions Inc agreed to purchase pharmaceutical firm NuPathe Inc in a deal valued at $105 million for its new migraine medication.
Jabil Circuit, whose customers include Apple and Cisco Systems, will put up for sale its aftermarket services for $275 million. The contract electronics maker also looks to part ways with BlackBerry as its revenue declines.
Aubrey McClendon, the former Chief Executive Officer of Chesapeake Energy Corp, is seeking investors for a new venture that would invest in oil and gas.
The US Department of Energy (DOE) granted $13 million to five solar companies to help strengthen local solar manufacturing and increase competitiveness in the clean energy market.
Braskem will acquire Argentine-Brazilian plastics maker Solvay Indupa for $290 million. It will buy 70.59% of Solvay Indupa by assuming its debt and through cash. Braskem will also purchase the remaining 29.41% of the company floated on the Buenos Aires bourse.
Hutchison Whampoa, a conglomerate controlled by Hong Kong tycoon Li Ka-shing has picked Bank of America Merrill Lynch, Goldman Sachs and HSBC to manage the proposed listing of A.S. Watson in Hong Kong and London.
A $3 billion share buyback program was authorized by Northfield, Illinois-based Kraft Foods Group Inc, the first after the firm turned independent in October 2012.
David Gonski, the head of the sovereign wealth fund of Australia, will be the Chairman of the Australia & New Zealand Banking Group Ltd, Bloomberg reported.
Venture capital firm Unitus Seed Fund invested an undisclosed sum in Chennai, India-based affordable eyecare startup Welcare Health Systems amid increasing interest of risk capital in eyecare firms.
