Although Dubai seemed to have recovered from the 2009 debt crisis it experienced in 2009, it needs to sell some of its assets, including Mauser, to repay some USD50 million in debt, according to sources who told Reuters.
Corporations
Top deals of the day - bids, mergers and acquisitions
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.
Spain's 'bad bank' sells loan bundle to Bank of America - sources
Bank of America Merrill Lynch has bought a small package of loans from Spain's so-called 'bad bank' Sareb, helping the vehicle to surpass year-end sales targets, two sources familiar with the situation said on Monday.
VMware's positon on hybrid cloud seen in new cloud platform service vCloud
VMware's newest product called the vCloud service was said to be a testament to the software company's bet in hybrid cloud technologies, according to a VentureBeat article.
Branson's Virgin Connect acquires Nizhny Novgorod telephone and broadband operator
The acquisition by Virgin Connect-affiliate Trivon AG of The MegaMax Group in the Nizhny Novgorod region of Russia dispelled a rumor about the former's business in trouble in the region.
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.
A joint bid that would later split up Time Warner Cable between Comcast Corp and Charter Communications Inc may allow the deal to avoid strict scrutiny from antitrust regulators and the Federal Communications Commission.
Chemring Group, a UK based firm that caters to the ordinance disposal, pyrotechnics, countermeasures and munitions markets, said it will be divesting some of its business units.
Uber, a ride solutions provider, is aggressively pushing for more drivers on the road that it had struck a deal with car manufacturers and auto finance firms to provide Uber drivers which better rates to own a vehicle.
The Japanese government is set to launch the Cool Japan Fund which aims to use USD1 billion of public funds to boost the exports of certain foods, drinks, fashion, animated movies, and other products.
Online music platform company 7Digital is close to signing a deal to buy out UBC Media Group. The takeover deal will provide a London listing for 7Digital in place of UBC. Should it be successful, the float could give 7Digital a valuation of about GBP50 million.
A Bloomberg report said the move to get former CBS anchor Katie Couric to join the team at Yahoo! Inc was an accelerated effort of Chief Executive Officer Marissa Mayer's efforts to reinvigorate the tech giant's business.
American Airlines Inc was slapped with another lawsuit claiming its merger with US Airways Inc would break antitrust laws, putting another roadblock on its exit from bankruptcy.
The Ethiopian government's program to lease farmland to private investors to grow food has experienced several setbacks, a report from Bloomberg said. The program was started in 2008.
