China Everbright Bank Co Ltd's USD2.8 billion float on Tuesday follows the steps taken by peers Huishang Bank Corp Ltd (3698.HK) and Bank of Chongqing to prepare a financial buffer against bad loans in the near future, said a Reuters report.
Deals
Banks sell Stemcor's loans to hedge funds-bankers
Lenders to troubled Stemcor, the world's largest steel trader, have been selling their exposure to hedge funds and distressed debt specialists before a key restructuring deadline on December 13, banking sources said on Monday.
HealthLoop raises USD10 million from Series A funding round led by USD175 million Canvas Venture Fund
HealthLoop, a maker of an automated patient health assessment platform, received USD10 million in Series A funding from investors led by Canvas Venture Fund and also participated by Subtraction Capital and other institutional investors.
Verizon to acquire content delivery network EdgeCast
A press release from Verizon Communications Inc read that it has acquired content delivery network EdgeCast to be consolidated to its Verizon Digital Media Services at an undisclosed amount.
Practice Fusion raises USD15 million in Series D funding to accelerate growth plans
Practice Fusion, maker of the Electronic Health Records (EHR) platform, received an additional USD15 million in Series D funding apart from the USD85 million it raised earlier for the round in September, TechCrunch said in its report.
Latest News
Dairy products company WhiteWave Foods is set to acquire organic food producer Earthbound Farm from its existing shareholders including founders Drew and Myra Goodman and Kainos Capital for USD600 million.
Giordano Lombardo, the Group Chief Invesment Officer of Pioneer Investments, said investors should consider pruning their US equities holdings as the economy shows signs of improvement, according to a Bloomberg report.
The European Aeronautic Defence and Space Company or EADS plans to cut anywhere from 5,000 to 6,000 jobs and sell its Paris headquarters as part of its reorganization program, Le Figaro newspaper reported.
St. Martins Group, Kuwait's property investment vehicle in the UK, has paid around GBP1.7 billion to purchase the More London complex which includes Mayor Boris Johnson's headquarters.
Venn Life Sciences has purchased Belfast, Ireland-based clinical research organization Medevol Limited in a deal valued at USD0.67 million, to strengthen Venn's operations in the UK.
Tyco International Inc's South Korean security systems unit ADT Caps is reportedly attracting bids from private equity firms including KKR & Co LP and Bain Capital.
The Genetic Engineering & Biotechnology News or GEN website revealed its top 30 list of venture capital firms for biotechnology and pharmaceutical companies. This report summarizes those who have made it to the top 10.
Canada-based gold exploration firm Giyani Gold Corp announced on Monday its acquisition of a 57.7% interest in Canoe Mining Ventures through a securities exchange agreement.
Switzerland's third largest wealth manager Julius Baer Group Ltd said it has already acquired the Middle Eastern wealth management units of Merrill Lynch located in Lebanon, Bahrain and the United Arab Emirates.
