Fondazione Monte dei Paschi, Banca Monte dei Paschi di Siena's top shareholder, is reportedly nearing a deal to divest its 20% stake in the Italian bank to three other banking foundations and a group of investment funds.
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.
German Efromovich, the owner of Colombian flag carrier Avianca, is reportedly looking to acquire Italian airline Alitalia or Polish flag carrier LOT Polish Airlines. Efromovich seeks to boost his presence in Europe.
Italy's state backed Fondo Strategico Italiano (FSI) and private equity firm CCMP Capital are leading the race to secure a minority stake in Italian luxury goods group Versace.
Monte dei Paschi di Siena's board has opposed a proposal by its top investor to push back a €3 billion cash call to May next year. Monte Paschi's largest shareholder earlier threatened to vote against the impeding capital increase.
Hero MotoCorp on Wednesday announced its buyout of 17.49 lakh shares in HMC MM Auto Ltd., which represents a 60% stake in the company. HMC MM Auto Ltd. is a joint venture of Hero MotoCorp and Italian automobile company Magneti Marelli.
Italian ski wear maker Moncler intends to price its initial public offering at €10.20 per share, the top of its earlier indicated range. The deal will reportedly raise €585 million to €681 million.
Telecom Italia's activist investor Marco Fossati campaigned against the enforced sale of TIM Brasil. Brazil's competition regulatory body ruled earlier this week that Telecom Italia must divest its stake in the Brazilian mobile carrier.
Fondo Strategio Italiano, one of the bidders for a 20% stake in Versace, is willing to put in a bid valuing the Italian fashion house at EUR1.1 billion. Versace earlier said that it seeks a valuation of at least EUR1 billion.
Ireland's Ryanair on Tuesday announced that it won't participate in Italian airline Alitalia's EUR300 million emergency cash call. Other carriers including Lufthansa, Etihad Airways, Aeroflot and Alitalia shareholder Air France-KLM have also turned down the deal.
An article published by the New York Times said that the Versace deal may not please investors. Versace valued itself at over EUR1 billion (USD1.36 billion), which is 14 times its current-year EBITDA at EUR70 million.
Japan's Toshiba Corp. and German real estate major Gagfah SAS entered a joint venture to sell energy directly to residents in Germany. The deal could bring in a revenue of USD184 million to USD233 million to the Japanese conglomerate.
ONGC Videsh Ltd, Oil and Natural Gas Corporation's overseas arm, has bid for 3 out of 13 Sri Lankan oil and gas blocks in the Mannar basin.
State-backed sovereign fund Fondo Strategico Italiano is currently the leading bidder for a minority stake in Italian fashion company Versace. The possible deal is reportedly worth EUR850 million.
Italy-based Barilla family, the founders of the biggest company pasta in the world, have shelled out USD25 million to acquire a South Island dairy farm.
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