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.
Deals
Men's Wearhouse Inc third quarter earnings increase as sales rise
The earnings of Men's Wearhouse Inc for the fiscal third had beaten analysts' estimates, driven by an increase in sales. The retailer turned the tables on Jos. A. Bank Clothiers with its own buyout offer after rejecting the smaller rival's earlier bid.
Chefs' Warehouse acquires Chicago's Allen Brothers for $29.9 million
Chicago steak and seafood supplier Allen Brothers has been sold to publicly-traded specialty food products distributor Chefs' Warehouse Inc. for $29.9 million. Under the deal, Chefs' Warehouse will be paying $20 million in cash and $9.9 million in debt.
Dallas-based Just Brakes acquired by Tom Hicks-led group
A group headed by Dallas investor Tom Hicks has bought Dallas-based automotive services chain Just Brakes for an undisclosed sum, with plans to improve and expand the said business.
Austin's Apptive raises $1M to expand e-commerce partnerships
Austin-based mobile app maker Apptive announced it has secured $1 million in funding to fuel the expansion of its partnerships with online merchants and e-commerce platforms.
Latest News
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 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.
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.
Ottawa, Canada-based e-commerce company Shopify has raised $100 million in a Series C funding round to help it transition to a commerce company that reaches the online and offline market.
Aliko Dangote, the richest man in Africa and Chief Executive of Nigerian company Dangote Group, plans to invest around $16 billion in cement, agriculture, and petrochemicals project in 18 countries over the next four years.
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.
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.
