Sura and Bank of Nova Scotia shelled out US$258 million each to acquire BBVA Horizonte of Peru. The financial conglomerate Sura of Colombia together with the Bank of Nova Scotia had announced the purchase of BBVA Horizonte, the Peruvian pension fund.
Commercial banks
AgBank of China Will Issue Bonds
AgBank of China to issue 90 billion yuan worth of bonds. The Agricultural Bank of China Ltd will be issuing 90 billion yuan or US$14. 59 billion worth of bonds that are eligible for regulatory capital treatment.
KBC Banka purchased by Societe Generale Srbijia and Telenor Serbia
Telenor Serbia and Societe Generale Srbijia would divvy up assets of KBC Banka. KBC, the banking and insurance group from Belgium, announced that it had agreed to sell its Serbian subsidiary KBC Banka.
Tata Steel Issues Singapore dollar denominated 10 year bonds
Tata Steel is issuing ten year Singapore dollar denominated bonds at 5.25%. A local market deal has been formalized and was launched this morning. The deal was Tata Steel's ten year Reg S Singapore dollar denominated bond at 5.
Eniro AB improves value through renegotiated loan
Eniro AB share values increased significantly after it was able to renegotiate its three billion kronor deal.
Latest News
There has been a solution reached by Romanian and Cypriot authorities for the local unit of the Bank of Cyprus.
Banca Carige, in a bid to meet its reorganization targets, is selling off two assets to its divestment plan.
QNB in its growth plans, seeks to raise funds through bond issues to capitalize its acquisitions. Qatar National Bank SAQ is planning to sell US dollar denominated bonds as it continues to become the first Arabic financial institution to have an asset portfolio that exceeds US$100 billion.
Deutsche Bank faces one of the many trading day cases in court. Back in October 2008, Alexander Vik went to the London office of Deutsche Bank AG to meet with account managers regarding his Sebastian Holdings Inc investment fund.
Ameriprise is set to bid for Scottish Widows. American financial service provider Ameriprise Financial is preparing a GBP800 million or US$1. 22 billion bid for Scottish Widows, the asset management arm of Lloyd's Banking Group.
HSBC is reviewing presence in Iraq and expanding in Egypt. HSBC Holdings is currently undertaking its strategic review of operations in Iraq. At the same time, it is continuing to expand its investments in Egypt despite the current situation in the country.
Lloyds Bank has engaged the services of Deutsche Bank to provide services for the possible sale of Scottish Widows.
Lone Star and Wells Fargo would divvy up the assets of Commerzbank. Lone Star, the private equity firm, and Wells Fargo are in talks to purchase a GBP4 billion or US$6.
SolarWorld is seeking to find a compromise agreement with its creditors to avoid insolvency. SolarWorld is discussing with its creditors to finalize an agreement as to the restructuring of the company in the next two to three weeks.
