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).
Asia/Pacific
Australia's treasurer Joe Hockey has given a conditional approval for State Grid Corporation of China's acquisition of Australian electricity and gas distribution assets
Australia's treasurer Joe Hockey has given a conditional approval for State Grid Corporation of China's acquisition of stakes in Australian electricity and gas distribution assets.
KBC Bank, which received a €7 billion government bailout in 2008, will be selling the Antwerp Diamond Bank to Chinese investor Yiren Group.
KBC Bank, which received a €7 billion government bailout in 2008, will be selling the Antwerp Diamond Bank to Chinese investor Yiren Group. KBC has disposed a string of units since the Belgian government rescued it during the financial crisis.
Australia-based mobile device provider Telstra Corporation Ltd will sell CSL to its Hong Kong-based mobiles business to HKT Limited for $2.425 billion
Australia-based mobile device provider Telstra Corporation Ltd will sell CSL, its Hong Kong-based mobiles business to HKT Limited in a deal valued at $2.425 billion.
More state-owned firms may be sold off in China -official
More state-owned companies in China may be sold off as private entities in a bid to improve economic, according to a Chinese official affiliated with the agency that controls the country's largest state firms.
Latest News
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.
Fosun International, controlled by Chinese tycoon Guo Guangchang, is seeking to acquire apartments, hotels and offices in New York as well as in other US cities after its purchase of lower Manhattan landmark 1 Chase Manhattan Plaza.
LIG Insurance Co. has put up for sale a controlling stake of 20.96% in the South Korean non-life insurer to compensate investors for losses sustained after buying debt issued by its affiliate. It has hired Goldman Sachs Group to advise on the sale.
Citigroup Inc chose to work with AIA Group in a 15-year agreement allowing the latter to sell life insurance through its branch network in 11 countries, Bloomberg reported.
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.
A Bloomberg report said Jack Ma and Zhang Jindong may be allowed to create phone companies in China with the possible issuance of their licenses this month.
Private equity firm Carlyle Group generated paper profits on its week-long investment in Chinese funeral company Fu Shou Yuan International Group Ltd after the latter gave a strong debut in Hong Kong trading.
The revival of initial public offerings in the US and Europe which started this year is set to continue next year, the Financial Times reported.
As common sense begins to sink in, it has become evident that there is no good reason to own Bitcoins, Edward Hadas of Reuters Breakingviews writes.
