The Philippine Department of Transportation and Communications said it is eyeing the possibility of rebidding the LRT-1 Cavite extension project under revised terms.
Corporations
Nordstjernan sells KMT Group to American Industrial Partners
Swedish family-controlled investment company Nordstjernan agreed to sell its subsidiary KMT Group to American Industrial Partners for USD 147.5 million.
L'Oreal makes offer to buy Chinese facial mask company for US$840 million
L'Oreal puts in an offer to buy Magic Holdings Ltd for US$840 million. L'Oreal recently made an US$840 million-dollar offer to purchase Magic Holdings International Ltd.
Aurora Capital Group will buy National Technical Systems
Aurora Capital Group agreed to acquire National Technical Systems for a premium USD 23 per share. Los Angeles-based private investment company Aurora Capital Group agreed to acquire National Technical Systems (NTS) for USD 23 per share.
Shenzhen economic zone fails to lure HK property developers
Land auction for the economic zone in Shenzhen failed to draw property developers from Hong Kong. Despite the hype that accompanied the economic zone development in Shenzhen, Hong Kong property tycoons were not lured to bid in the recently-completed land auction.
Latest News
Formosa Plastics Group invests USD1 billion in Fortescue Metals Group's iron ore project. Formosa Plastics Group of Taiwan has agreed to buy one third of an iron ore project from Fortescue Metals Group and China's Baoshan Iron and Steel for a USD1.
Japan Tobacco International said they will continue to grow in the Philippines despite higher taxes on cigarettes.
Albay Governor Joey Salceda and two representatives preferred to have SMEC takeover Albay Electric Cooperative (ALECO).
Manuel B. Villar, Founder and Chairman of Vista Land & Lifescapes and Starmalls, revealed that they would be opening more malls and convenience stores in 2014.
Malaysia conglomerate DRB-HICOM announced move to sell shares for Uni Asia Life Assurance company. DRB-HICOM is seeking approval from Malaysia's minister of finance for its proposal to sell its 51% shares of Uni Asia Life Assurance Bhd for $158.
Fortescue Metals Group announced its continued efforts to sell minority stake of their port and rail assets.
Silver Lake Sumeru announced it would acquire a majority stake in BlackLine Systems, an accounting software company.
Leonard Green is exploring sale of Brickman, which is valued at about USD1.5 billion. Los Angeles private equity company, Leonard Green & Partners LP had asked Barclays and Morgan Stanley to handle an auction for Brickman Group Holdings Inc.
David Blitzer and Joshua Harris just purchased the New Jersey Devils hockey team. David Blitzer, Senior Managing Director of Blackstone Group and Joshua Harris, co-Founder of Apollo Global Management just bought the New Jersey Devils hockey team from former Lehman Brothers executive, Jeffrey Vanderbeek's ownership controlled group.
