Hong Kong regulators has approved the listing of the IPO for China Galaxy Securities. Hong Kong exchange regulators have signified their approval for the initial public offering of China Galaxy Securities.
Corporations
First Solar Purchases TeraSun
First Solar acquires TeraSun for an undisclosed amount. First Solar will be undertaking a new path in the silicon solar panel business with the acquisition of TetraSun, a start up based out of the Silicon Valley.
Banks Lining Up Financing for Scandlines Purchase
Scandlines owners Allianz Capital Partners is preparing for the sale of the ferry group. A number of banks are now consolidating debt packages amounting to Eur 1 billion or US $1.
Protective Life to acquire AXA life insurance unit for $1.06 billion
Protective Life Corp (PLN) is set to acquire Mony Life Insurance Company from parent AXA SA for $1.06 billion to access its life insurance policies portfolio.
Yahoo! to Target Mobile Talent in M&A Spree
Yahoo!, the U.S. biggest Web portal, has engaged the services of private equity veteran Jacqueline Reses as it struggles to reinvent itself and stay relevant.
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According to MTN CEO,the company is expanding from Africa to Asia and the Middle East. The largest African mobile operator, MTN Group Ltd, is expected to spend as much as US $8 billion on acquisitions in order to increase its spending in networks that limited its earnings.
The Petronas shareholdings increased after it submitted its revised offer to EPF for its shares for MISC.
Top real estate investors listed on the EGX show slight gains as demand increase as a hedge against the upcoming inflation due to currency devaluation.
Three partners led by Nicolas Berggruen is planning to invest as much as Eur 1 billion in Portuguese properties.
Manulife purchased Kowloon East Building for HK$4.5 billion. Manulife Financial Corp has inked a deal to pay the second highest price on record for an office tower in Hong Kong.
Private equity firm, Advent International, has opened an office in China, just like other big private equity firms The Carlyle Group CVC and Bain Capital.
CEO Franco Bernabe would most likely be given permission to conduct exploratory talks on a merger between Telecom Italia and Hutchison Whampoa.
Denizbank has entered into an agreement to acquire the Turkish consumer businesses of Citibank. Denizbank A. S. of Turkey was recently acquired by Sberbank, a state controlled bank of Russia late last year.
In a bid to divest assets to raise funds, Rio Tinto's Turquoise Hill is selling off its Ivanhoe shareholdings.
