UK-based FirstGroup said no to the proposal of hedge fund Sandell Asset Management to split the company and sell assets, saying the plan contained a number of structural flaws and inaccuracies, a Bloomberg report said.
Transportation
Wellard shipping assets attract strong interest from Brazil and Saudi
Fremantle-based livestock export giant Wellard Group’s shipping and land division have attracted strong interests from wealthy investors in Saudi Arabia and Brazil, according to industry insiders.
Air NZ, Etihad, Singapore Airlines lift stakes in Virgin Australia
Virgin Australia's biggest shareholders, Air New Zealand, Etihad Airways, and Singapore Airlines, have upped their stakes in the troubled Australian airline by 4%, lifting their combined position from 63% to 67%.
Han's Laser purchases Israel's Nextec as overseas expansion effort
China-based professional laser equipment manufacturer Han's Laser Technology Co bought Israel-based Nextec Technologies in its effort for expansion amid slow growth in the Chinese laser measurement devices market.
India's GMR hires Citigroup, JPMorgan and two others for $300-$350 million IPO
GMR Infrastructure Ltd. has began the process for the $300-$350 million initial public offering it is planing for its airport business. It has reportedly tapped Citigroup, JPMorgan, Axis Capital and Infrastructure Development Finance Company to manage the listing.
Latest News
Hollywood actor Leonardo DiCaprio has invested an undisclosed amount in Monaco-based electric car startup Venturi Automobiles and co-founded a new electric racing team which will compete in the Formula E series next September.
A Financial Times report said activist investor Sandell Asset Management has written a letter to UK transport group FirstGroup to sell its US businesses so it can pay down debt.
Hours after announcing the departure of chief executive Dan Akerson, the Holden unit of General Motors Co announced its decision to halt its auto making operations in Australia by 2017.
Australia-based taxi app ingogo has raised an additional AUD3.4 million in venture capital funding and expressed plans for a 2014 listing on the Australian Securities Exchange (ASX).
New Zealand-based express package services provider Freightways Limited has purchased two document destruction businesses, namely Sydney-based Advance Security Destruction Services and Hastings-based Docushred, for a total of USD13 million.
UK-based investor Utilico Investments has reduced its stake in New Zealand-based energy business operator Infratil through the company's buyback program and a share sale on the market.
Indian companies that built most of the parts for the country's recently launched Mars mission are using their low-cost, high-tech expertise in frugal space engineering to compete for global aerospace, defence and nuclear contracts worth billions.
The International Finance Corporation is looking to sell rupee-denominated bonds for the second time. The World Bank investment arm raised INR1,000 crore in its first rupee-bond issue.
Mumbai-based startup Birds Eye Systems raised an undisclosed sum in a Series A round from Matrix Partners India for the expansion of its traffic monitoring brand Traffline.
