LQ Inversiones Financieras, Banco de Chile's majority shareholder, will sell up to 6.9 billion shares equivalent to $963 million. The exit deal would reduce LQ's stake in the Chilean lender from 58.4% to 51%.
South/Central America
Colombia's Grupo Energy picks up $650M stake in Peru gas pipeline
Colombia-based firm Grupo Energia de Bogota inked a deal valued at $650 million to acquire a 23.61% stake in Peru-based gas pipeline operator Transportadora de Gas del Peru.
BIllionaire Carlos Slim's America Movil stock buybacks set to slow as acquisitions rise and earnings fall- report
As its acquisitions increase and earnings go down, billionaire Carlos Slim's mobile phone firm America Movil's record rate of stock repurchases could decrease, Bloomberg reported.
IFC invests in US submarine cable operator Seaborn Networks
World Bank Group member International Finance Corporation (IFC) invested an undisclosed amount in US-based submarine fiber optic cable system developer and operator Seaborn Network Holdings LLC.
Corporacion America agrees to buy Batista's stake in Brazil semiconductor project
Argentina-based investment group Corporacion America reached an agreement to buy the stake of entrepreneur Eike Batista in SIX Semicondutores, a Brazil-based billion-dollar semiconductor project, for an undisclosed sum.
Latest News
In an attempt to get their money back faster, creditors of Brazil-based Banco Cruzeiro do Sul, are looking for a debt-to-equity swap on an unsecured debt valued at 2.3 billion, Bloomberg reported.
The insurance unit of Portugal's Caixa Geral de Depositos SA will be acquired by China's Fosun International Ltd in a deal worth €1 billion, Reuters reported.
Norway-based newsprint and magazine paper manufacturer Norske Skog inked an agreement to exit its remaining stake in its Brazilian operations to Papeles Bio Bio SA for $37 million.
The Panama Canal Authority and a building consortium led by Spain's Sacyr Vallehermoso SA on Tuesday agreed to put up at least $100 million each to keep the Panama Canal expansion project running. The two parties are at odds over who should pay for $1.6 billion in project cost overruns.
Sao Paulo-based investment bank and asset wealth manager Grupo BTG Pactual said Brazil's presidential elections scheduled in October 2014 will curtail the mergers and acquisitions activity this year, Bloomberg reported.
With no new gadgets seen to fuel growth, the global technology market is poised for a slight drop in 2014, according to estimates from the Consumer Electronics Association, the Financial Times reported.
Spain's Telefonica said it was not thinking of making a joint bid for TIM Brasil, the Brazil-based wireless network operator of Telecom Italia, Reuters reported.
Former President of the United States Bill Clinton is the Honorary Chancellor of a controversial private equity-backed Laureate Education Inc, a for-profit company, Bloomberg reported.
Private equity funds Carlyle Group LP and KKR & Co are in discussion to purchase troubled Brazil-based medical services provider Fleury SA in a deal worth BRL2.9 billion ($1.2 billion), according to three sources familiar with the matter.
