E.ON still on its plan to divest non-performing assets. The largest utilities service provider in Germany E. ON has denied reports that it would spin off its renewable energy unit in order to reduce outstanding debt of in its balance sheet.
Corporations
Temasek Purchases 5% of Evonik
Temasek buys stake in Evonik. Temasek Holdings, the Singapore state investor will purchase shares in the German company, Evonik Industries according to people close to one of the owners of Evonik.
Buyout Offered for Simcere Pharma
Chairman of Simcere to buyout shares. A consortium led by its Chairman Jinsheng Ren has offered to buyout Simcere Pharmaceutical Group. The China based pharmaceutical firm was priced at US$9.
Directors Hoping Repeat Success
Directors hope to reap same success in Mozambique project. Three major executives that took part in the creation and sale of Cove Energy Plc have come together again to raise funds for an oil and gas exploration project in Mozambique.
Sistema Shyam Wins Bid
Sistema Shyam Teleservices wins bid in eight telecommunication zones. The Indian mobile phone subsidiary of Sistema, Sistema Shyam TeleServices has won the right to operate in eight telecommunication zones in India.
Latest News
Investment firms circling over the exit of CVC from Matahari. PT Multipolar Tbk and CVC Capital Partners have joined forces to peg US$1. 36 billion value to sell shares in retailer PT Matahari Department Store.
Lender engages six banks to facilitate bond sale. Dubai's largest lender, Emirates NBD, has engaged the services of six major banking institutions to arrange a subordinated bond sale for the company.
Henkel is the front runner for the vacant ThyssenKrupp Chairman position. Ulrich Lehner, former Henkel CEO is tabbed to be the next chairman at ThyssenKrupp.
CEDC is receiving offers for purchase from Russian billionaires. The rivaling offers from Russian billionaires to rescue the Polish vodka maker CEDC is spurring rumors that the company would be able to stave off bankruptcy.
Investment Dar sells off stake to pay debts. The controlling shareholder for Aston Martin, the British car maker is Investment Dar Co. The company has agreed to sell its stake in the beleaguered Bahraini Islamic Bank for US$92 million as the company restructures its debts.
UAE company manages Australian expansion of Baskin-Robbins. The world's most well-known and largest chain of ice cream specialty shop, Baskin-Robbins, has released a statement regarding its plans to open another 200 shops in Australia.
Tiger Global buys Cobone. The largest daily deal company in the Middle East, Cobone. com was purchased by Tiger Global Management. The international investment firm gave additional funds to the Middle East Company to expand its long term obligations at home.
Dubal and Sinoway Forges Partnership. It was reported Saturday that Dubal or Dubai Aluminium has purchased a twenty percent share in a joint venture project in China.
Hanmi sales discussions stalled with rival banks over valuation and management. Discussions for the sale of Hanmi Financial Corp have stalled because of a number of disagreements over management and price per share.
