The following bids, mergers, acquisitions and disposals were reported on Monday including Greece banking, Fiat, BOFA, Mechel, Saputo, RBS, Lohmann, Carlyle Group, Monte dei Paschi di Siena, Kuwait Airways, Dubai Holding, SunEdison, Blackstone, Greece National Bank, IMG Worldwide, KKR, Babcock, AMR, Orrick, BAC and Fisker Automotive.
Automotive
Hayman Capital acquires stake in General Motors Co- source
A source told Reuters that hedge fund Hayman Capital has acquired a stake in General Motors and believes that the stock price of the automaker will soar once the US Treasury has exited its remaining stake in the firm.
General Motors looks to sell stake in Ally Financial
General Motors Corporation LLC is looking to put up for sale the last of its holdings in Ally Financial Inc. via a private placement. Ally, GM's financing arm, is reportedly eyeing an initial public offering.
Sime Darby purchases 70% stake in Australian car dealer
Malaysian conglomerate Sime Darby Bhd announced that it has agreed to purchase a 70% stake in Australian car dealer Brisbane BMW Unit Trust and LMM Holdings Pty Ltd for AUD22.7 million (USD20.75 million).
Investment group revives Saab 9-3 production after bankruptcy filing
After more than two years since it filed for bankruptcy due to lack of cash and halting production, Swedish car automaker Saab AB via its parent company National Electric Vehicle Sweden (NEV) AB started making cars today.
Latest News
Italian automaker Fiat SpA said in its announcement today that although Chrysler Group LLC has postponed plans for a 2013 initial public offering, the former expected the latter to carry on with its plans for a share sale next year.
PSA Peugeot Citroen Chief Executive Officer Philippe Varin reportedly wants to tap the former chief operating officer of Renault SA to replace him as he steps down next year.
A survey taken by professional services company Ernst & Young has shown that India has toppled China from the top spot as the world's most attractive destination for investments.
Europe's top carmaker Volkswagen (VW) has revealed its plan to invest EUR84.2 billion in the next five years for technology upgrades and modernization of its plants.
The Department of Energy will lose about USD139 million on a loan given to Fisker Automotive under a clean vehicles program after the automaker sold part of the loan to Hybrid Technology.
PSA Peugeot Citroen is preparing to replace its present Chief Executive Officer Philippe Varin for a joint venture with Chinese partner Dongfeng, according to sources familiar with the matter.
Although Nissan had set a timeframe of its release of self-driving cars to the public, a report by US News argued that Google might be launching its version of the self-driving car earlier.
Fisker Automotive Inc filed for bankruptcy and plans for its assets to be acquired by Hybrid Technology. The group included Richard Li, the son of Hong Kong's richest man.
Online auto-shopping company TrueCar Inc is thinking of going public next year, according to sources.. TrueCar Inc offers free pricing information from over 6,000 car dealers.
