Shares of Hyundai Merchant Marine jumped the most among shares of Hyundai Group companies following the conglomerate's announcement that it will sell assets to raise $3.1 billion to repay bonds due in two years.
Transportation
Germany's Hapag-Lloyd says rival Hamburg-Sued should join merger talks with Chilean shipper Vapores
Juergen Weber, the chairman of Hapag-Lloyd AG, said that Hamburg-Sued should participate in merger talks between his company and smaller Chilean shipper Compania Sud Americana de Vapores SA.
South Korean private equity fund Hahn & Co to pay $283M for Hanjin Shipping's bulk shipping unit
South Korean-based private equity firm Hahn & Co will pay $283 million to buy a 76% stake in Hanjin Shipping Co's bulk carrier business, Bloomberg reported.
Cash-rich Islamic banks seek to invest in Western businesses
Islamic banks want to diversify their investments outside of the Middle East and real estate and are seeking to work with Western businesses that comply with the Shariah law.
Irish Aviation Authority pours in €20M in US air traffic surveillance firm
The Irish Aviation Authority has spent €20 million to buy a 6% stake in Virginia, US-based air traffic surveillance firm Aireon LLC, as part of an agreement with Italy and Denmark to invest in the new service.
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The corporate buses of Apple Inc and Google Inc were delayed from their morning commute due to protesters in San Francisco and Oakland blocking them, Reuters reported.
Air France-KLM has put its regional airline CityJet on the block after posting a loss of €209 million last year. It had received on Friday a firm offer from Germany's Intro Aviation to buy the struggling Dublin-based airline.
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.
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).
Software company Dealertrack Technologies will buy out online marketing and sales provider Dealer.com for $1 billion. Dealertrack will pay $620 million in cash and $373 million in stock.
German carmaker Daimler will take a 5% stake in British luxury sports carmaker Aston Martin in exchange for supplying engines and electronic components to the latter. The partnership will develop a new generation of V8 engines for sports cars.
Lucio Tan, the chairman and chief executive of Philippine Airlines Inc (PAL) is expected to finalize the majority stake sale in the flag carrier next year with San Miguel Corp (SMC).
Korean Air, South Korea's flag carrier and largest airline, has put up for sale its shares in refiner S-Oil and 13 planes to raise KRW3.5 trillion. Proceeds from the deal will be used to pare its debt and provide aid to affiliate Hanjin Shipping Co.
Philippine-based conglomerate GT Capital Holdings Inc bought more than 40% of car dealership Toyota Manila Bay Corp (TMBC) in a deal valued at PHP502.25 million.
