Westfield Group's Australia and New Zealand businesses will be spun off from its global retail assets. Assets of the Australian and New Zealand units will be merged with Westfield Retail Trust to form a new company.
Deals
Versace valuation as over the top as its clothing - NYT
An article published by the New York Times said that the Versace deal may not please investors. Versace valued itself at over EUR1 billion (USD1.36 billion), which is 14 times its current-year EBITDA at EUR70 million.
Australian private equity exits capitalize on robust investor demand- report
Private equity firms are rushing to cash in on strong investor demand as evidenced by the flood of initial public offerings this year, according to a report.
Newsweek unveils plans to resurrect print edition
Newsweek plans to return back to print with a 64-page weekly publication, according to Editor-in-Chief Jim Impoco in an interview with the New York Times.
Australia's Dick Smith lifts on debut after USD315 million IPO
The shares of Australia-based electronics seller Dick Smith Holdings Ltd lifted on its debut on Wednesday after securing USD315 million in its initial public offering.
Latest News
Private equity firm Sycamore Partners LLC is reportedly leading the bids for Men's Warehouse's discounted apparel and accessories store K&G. Sycamore is also in advanced talks to takeover Jones Group Inc.
The following bids, mergers, acquisitions and disposals were reported on tuesday including Adcock Ingram, Energa, Nordea Bank, Alitalia, Ben Venue, TIM Participacoes, Douglas, Mercator, Novartis, OncoMed, Kerning and Malaysia Airports
Six more water systems and wastewater systems were bought by Aqua America Inc in November and December, bringing to 15 the number of its acquisitions this year.
US-based processor giant Intel acquired private hackathon organizer Hacker League for an undisclosed amount, in a deal that will merge the latter with Mashery, an Intel company.
Bloomberg report said Salix Pharmaceuticals has proposed a rate for the USD 1.2 billion financing it will be getting for the purchase of Santarus Inc.
British insurers plan to invest 25 billion pounds ($41 billion) in transport and energy projects over the next five years, the finance ministry said on Wednesday, a day before it presents a half-yearly economic update.
A USD 4.5 million credit facility was granted to Chicago-based online provider for in-home care Sittercity by Square 1 Bank, a bank that exclusively caters to the needs of entrepreneurs and the venture capital community.
The new Series C funding worth USD42 million received by DataSift, a social data platform for enterprises and brands, was said to be used for expansion in international markets and verticals, and strategic acquisitions.
Repsol Chairman Antonio Brufau insisted on Tuesday that the government of Argentina should offer a compensation package that will convince the Spanish oil firm to settle the expropriation of its stake in energy firm YPF.
