San Miguel Corp. President Ramon Ang said on Tuesday that it had been in talks with JG Summit Holdings Inc to sell a part of a stake it owns in Manila Electric Co.
Corporations
Gas prices drop in the US
A reduction in gas prices could be felt all over the US. Gas prices had been dropping all over the country. GasBuddy, a website that monitors the prices of gas around the US revealed that prices at the pump had fallen to as much as USD 3.
ProAssurance Corp acquires Eastern Insurance Holdings for USD 205 million
ProAssurance Corp announced that it would be buying Eastern Insurance Holdings for USD 205 million. Alabama-based risk management company ProAssurance Corp said it would be purchasing Eastern Insurance Holdings.
Italian government not stepping on Telecom Italia, Alitalia stake sales- source
A government source had told Reuters that Italy would not be intervening on possible takeovers in Telecom Italia and Alitalia.
Argos-eBay partner in new delivery scheme
The new system introduced by Argos and eBay would be allowing customers to pick up ordered items from eBay in Argos stores.
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Saudi Arabia's taxi business is in chaos with the conflicting regulations, leading to the pull out of investors.
Sources told Reuters that Chevron Corp would be getting bids by the end of September for its Nigerian oil blocks.
The new joint venture to participate in projects in the Middle East and Africa comprised of Arabtec and Samsung Engineering Co.
Private equity firm Investcorp had purchased paper products company Paper Source for an unspecified amount.
Russia's top crude producer Rosneft has hopes that it would be earning RUB439 million or USD13.8 billion after its acquisition of Moscow-based oil company TNK-BP.
Investors welcomed the news that Gazprom would be divesting itself of the 37% stake it holds in Lithuania's Amber Grid.
Applied Materials and Tokyo Electron signed a definitive agreement to merge and create a new firm valued at USD 29 billion.
Coates Hire undertook a revised loan agreement with its existing lenders. Coates Hire Ltd, owned by Carlyle Group and Seven Group Holdings, would be undertaking an "amend and extend" loan with its existing lenders.
Xinyi Glass announced plans to spin off Xinyi Solar Holdings and list it in the Hong Kong market. China-based Xinyi Glass Holdings Ltd announced its intention to spin off Xinyi Solar Holdings Ltd and list the business in the Hong Kong bourse.
