Indian government NALCO share sale nets US$116 million. It was reported on Friday that the Indian government was able to raise $116million as proceeds of the sale of their shares with National Aluminium Co Ltd (NALCO).
Asia/Pacific
Sunac and Greentown Strengthen Partnership
Sunac Greentown venture purchases land in Shanghai's Huangpu District for US$1.45 billion. Greentown China Holdings Ltd and Sunac China Holdings Ltd forged deeper bonds when it purchased a Hong Kong holdings company that has central Shanghai land assets in its portfolio.
New Rates to Make it Cheaper to Invest in Fidelity China
Rate cuts instituted to entice investors to capitalize with Fidelity China. Fidelity, the fund manager, announced that management charges paid annually on Anthony Bolton's Fidelity China Special Situations Investment Trust by investors will have a price discount.
Suntech Received Default Notice on Unpaid Bonds
Suntech would be the first Chinese company to default on unpaid bonds. Suntech Power Holding Co. Ltd. received a notice of default yesterday from its trustee handling their $541 million in bonds outstanding.
Warburg Pincus Increases Stake in Capital Finance
Warburg Pincus converts compulsorily convertible preference shares to increase stake in Capital Finance.
Latest News
Restructuring plan for Berlian Laju received from creditors. PT Berlian Laju Tanker, Indonesia's foremost oil and gas shipper, was able to reach an agreement with its lenders to restructure their loan of $1.
Claris Pharmaceutical rumored to be subject of takeover bids. The next target in the takeover of Indian injectible drug makers is Claris Lifesciences Ltd.
Solaire Manila Casino opens to fanfare and hoopla in Manila. Billionaire port magnate Enrique Razon' s Solaire Manila Casino will open tomorrow in the Philippines.
Viko contemplates sale and hires Credit Suisse for assistance. Viko, the family owned electric appliances manufacturer from Turkey, has hired Credit Suisse to sell the company for a price tag between US$500 million to US$1 billion.
Malaysia's Khazanah bids for GE shareholdings in Ayudhya Bank of Thailand. Malaysia's state sovereign fund Khazanah Nasional Bhd had offered to purchase General Electric's stake in Bank of Ayudhya.
Cipla Medpro shareholder criticizes low ball offer by Cipla for buyout. One of the top stockholders in Cipla Medpro has said it would require Cipla Ltd to increase its US$500 million offer to purchase the third largest generics drug firm in South Africa.
Apollo divesting shares in India's direct to tv market with sale of Dish TV India shares. Apollo Global Management LLC is on the verge of selling its 11% stake in Dish TV India Ltd.
Reliance Games expands into Korean and Japanese markets with acquisitions. Reliance Games is the mobile gaming subsidiary of Reliance Big Entertainment Pvt Ltd.
Berger Paints purchases Sherwin-Williams India. The Indian unit of American paint firm Sherwin-Williams was recently acquired by Berger Paints India Ltd.
