A South China Morning Post report said Greenland Hong Kong Holdings Ltd, the real estate arm of China's state-owned Greenland Group, bought a site in Huangpu, Shanghai for CNY5.95 billion or HK$7.59 billion.
Deals
Hero MotoCorp purchases 60% stake in joint venture with Italy's Magneti Marelli
Hero MotoCorp on Wednesday announced its buyout of 17.49 lakh shares in HMC MM Auto Ltd., which represents a 60% stake in the company. HMC MM Auto Ltd. is a joint venture of Hero MotoCorp and Italian automobile company Magneti Marelli.
Ireland's National Pension Reserve Fund to seek buyer for private equity holdings- report
The Irish Times reported that the National Pension Reserve Fund of Ireland or NPRF is believed to be mulling a sale for its private equity investments.
JPMorgan forecasts 30% rebound in mergers and acquisitions in Asia for 2014
JPMorgan Chase & Co predicts a rise in the value of M&A deals to 30% it expects to handle in Asia next year, according to a Bloomberg report.
Peugeot enters final talks on €3.5 billion share sale
French automobile manufacturer PSA Peugeot Citroen is nearing a €3.5 billion share sale deal with Chinese carmaker Dongfeng Motor Co. and the government of France. Under the terms of the deal, Dongfeng and the French state will each hold a 20% stake in Peugeot.
Latest News
Switzerland's biggest bank, UBS AG, will be entering the property market in Australia through a joint venture with local developer Grocon Pty, a Bloomberg report said.
Private equity firms Hellman & Friedman LLC and JMI Equity are reportedly looking to sell workforce management software company Kronos Inc. The two investment firms privatized Kronos in 2007 for $1.8 billion.
American firearms maker Freedom Group plans to raise $175 million from Wall Street financial institutions, according to a Reuters report. Cerberus Capital Management, which tried to exit the company last year, earlier opted for a $200 million mezzanine debt to pay off Freedom Group's investors.
Private equity firm Centerbridge Partners will pay $3.3 billion and assume about $1.7 billion in debt should it acquire bankrupt telecommunications company LightSquared Inc. Centerbridge and LightSquared were said to have reached a tentative takeover deal.
Celesio's supervisory and management board on Wednesday recommended shareholders to approve the $8.3 billion buyout offer from US drug distributor McKesson Corp. Elliott Management Corp, one of Celesio's shareholders, earlier refused McKesson's offer.
UK-based investment fund Pearson Affordable Learning Fund has backed Delhi-based education startup Avanti Learning Centres to develop a system that will help students from low-income families prepare for college entrance tests.
Savings search engine company Chippmunk was able to secure $750,000 for its seed funding round from veteran angel investors in Silicon Valley and Los Angeles.
San Mateo, California-based firm American Efficient launched today with a $2.5-million funding it received from Clean Pacific Ventures to help US residents switch to renewable energy products and suppliers.
San Francisco-based mobile game business engine Playhaven and mobile analytics firm Kontagent have decided to merge in an all-stock deal is said to be worth hundreds of millions of dollars.
