Japanese electronics conglomerate Sony Corp. may spend JPY10 billion on a chip plant it intends to buy from Renesas Electronics Corp. Sony is reportedly increasing its chip output to boost its profits.
Asia/Pacific
Pension Fund GPIF president predicts that Japan's inflation rate will fail
Government Pension Investment Fund president Takahiro Mitani's comments about Bank of Japan meeting its 2% infaltion goal was contradictory to the statements made by Prime Minister Shinzo Abe appointee and economist Takatoshi Ito.
Instant noodles maker Tingyi mulls over strategic acquisitions in instant food
According to Tingyi Holding Corp Chief Financial Officer Frank Lin, his company could form more corporate alliances or strategic purchases next year in mainland China.
Hong Kong's Wing Hang taps Goldman Sachs to advise on proposed sale
Owners of Hong Kong lender Wing Hang Bank Ltd. had received preliminary bids for its sale. It has engaged Goldman Sachs Group Inc. to advise it on the deal. Wing Hang plans to sell the company for USD4.5 billion.
Shui On exits Taipingqiao project to China Life Insurance Group
Real estate major Shui On Land Ltd. is divesting its entire stake in the company that operates the Taipingqiao project in Shanghai for USD545 million. The Chinese property company is selling its assets to repay debt and improve its financial position.
Latest News
Chinese investment firm Sailing Capital Management has launched a USD821 million (CNY5 billion) cross-border buyout fund through Shanghai Sailing Industrial Capital, a subsidiary of the company.
The stock of India-based Mahindra Holidays rose 5% after the company announced it had sold all its shares in two hotel firms in Austria for an undisclosed sum.
Private equity firms are rushing to cash in on strong investor demand as evidenced by the flood of initial public offerings this year, according to a report.
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.
Westfield Group's Australia and New Zealand businesses will be spun off from its global retail assets. Assets of the Australian and New Zealand units will be merged with Westfield Retail Trust to form a new company.
The following bids, mergers, acquisitions and disposals were reported on tuesday including Adcock Ingram, Energa, Nordea Bank, Alitalia, Ben Venue, TIM Participacoes, Douglas, Mercator, Novartis, OncoMed, Kerning and Malaysia Airports
The new Series C funding worth USD42 million received by DataSift, a social data platform for enterprises and brands, was said to be used for expansion in international markets and verticals, and strategic acquisitions.
The purportedly massive USD53 billion economic stimulus package by the government of Japan was to aid the country from its high tax rates imposed in April this year, said government ministers.
A recent report by Ernst & Young and Mergermarket projected increase in private equity activity in the oil and gas sectors, especially in emerging markets.
