Switzerland-based Trafigura Beheer BV had put up for sale its stake in Puma Energy for USD500 million. Trafigura sold a part of its interest in the African unit to Angola's Sonangol Corporation and Cochan Ltd.
Africa
Burger King forms joint venture to take on McDonald's in France
Burger King Worldwide Inc. formed a joint venture with Bertrand Holding Co. and Naxicap Partners to open new stores in France in the first half of next year. Burger King returned to the country last year, opening three stores with Italian restaurant operator Autogrill.
NamPower to raise USD496 million for grid investment
Namibia Power Corp (NamPower) plans to raise NAD5 billion (USD496 million) to fund the expansion of its transmission networks and power generation over the next five years, according to the firm's managing director.
Gold Fields keen to stretch maturities of loans - CEO
Due to the swing of gold prices, South African mining company Gold Fields Ltd had resorted to negotiating with its creditors for an extension of its loan maturities, said Gold Fields CEO Nick Holland.
Indian Angel Network eyes investment opportunities in UK, Singapore
The Indian Angel Network, the country's oldest and largest angel investor network, is hunting for investment opportunities in the UK and Singapore. IAN expects to announce its first UK deal during the first half of 2014, while it will begin its Singapore operations in the latter half of next year.
Latest News
President Michael Sata's drive to upgrade the country's rough roads, which often become impassable in the rainy season, is popular with many Zambians like Moyo. But foreign investors, who must partly fund such ambitious schemes, are less keen on his costly promises and very public dust-ups with business.
Nyeri County and Karatina University in Kenya are working on a project that can turn sewage into biogas that can power the local water pumps and reduce electricity costs.
A report from the UN Food and Agriculture Organization revealed that political will and farmer involvement are crucial for biotech research and innovation to succeed in reducing poverty in developing countries.
The following bids, mergers, acquisitions and disposals were reported on Thursday including Omnicom, General Motors, Deutsche Telekom, Devon Energy and others
A weakened South African rand led to a drop in the profits of specialist bank and asset management group Investec. Profits declined 1.6% due to the diminished performance of the South African currency.
Sirius Financial Services, Inc. acquired a new subsidiary, Farmica Africa, a producer of Lemon grass based products including tea, soap, an energy drink, insect repellant and essential oil.
The potential sale of the indices platform of Barclays, which includes the Barclays US Aggregate Bond Index, came at the heels of an approach by MSCI, an equity index provider, to acquire the index business.
Texas-based Endeavor Energy announced that it has inked a joint development agreement with Joule Africa to construct the USD500 million Bumbana Phase II Power Project. Endeavor Energy obtained a USD100 million funding from private equity firm Denham Capital.
London-based pharmaceutical giant Glaxo SmithKline (GSK) completed the sale of its 28.2 million shares in Aspen Pharmacare at ZAR250 per share, raising a total of USD694 million in proceeds.
