An SNL Financial report showed that lenders in Massachusetts closed some of the priciest bank deals in the past three years in the US. Four mergers and acquisitions done in the Bay State made it to the top 20 list.
Deals
Accor announces hotel group split-up
France's Accor on Wednesday announced a plan to break up the hotel group in order to improve its performance and shareholder returns. Accor, the largest hotel group in Europe, owns luxury and upscale brands such as Sofitel and The Sebel.
Small businesses fuel subprime loans boom - report
The New York Times' The Dealbook reported that small businesses were now fueling a boom on the subprime loan business as investors look for more lucrative but riskier investments.
Chinese taxi app Kuaidadi gains traction with USD100 million investment and new acquisition
China's mobile-based taxi booking service Kuaidadi confirmed it recently received a USD100 million investment from Alibaba, and has acquired a Shanghai-based taxi booking app called Dahuangfeng.
Australia's Bis Industries defers planned IPO
Bis Industries on Wednesday announced that it has scrapped its planned initial public offering. The KKR-backed Australian logistics company had been looking to raise AUD500 million (USD456 million) in the IPO.
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Rival Canadian mining companies Goldsource Mines Inc and Eagle Mountain Gold Corp agreed to merge in a deal that would see each firm hold half of the newly combined company.
According to a research study by Dow Jones & Company, Ireland attracted the most venture capital funding per capita in the European region. The data showed that most Irish tech startups have fared well even during the economic recession.
TCC International Holdings Ltd said it received a buyout offer amounting to HKD5.59 billion (USD721 million) from its parent company, Taiwan Cement Corp, which owns 56.5% of TCC.
The increasing number of new hedge funds by global banks and asset managers in Asia threatened the business of smaller firms who had opened their independent firms just after the 2008 financial crisis.
US-based Archer Daniels Midland Company has increased its offer for agricultural firm Graincorp Ltd by USD200 million to reinforce Australia's agricultural infrastructure through rail enhancement projects.
Namibia Power Corp (NamPower) plans to raise NAD5 billion (USD496 million) to fund the expansion of its transmission networks and power generation over the next five years, according to the firm's managing director.
According to Speedtest.net, 30 countries including Moldova and Uruguay have faster Internet than the United States. Google Inc. has began building its fiber network in Kansas. A nationwide Google Fiber rollout, however, may cost USD1 billion.
Troubled electronics giant Panasonic will sell three of its chip factories in Japan to Israel's TowerJazz by March 2014, according to sources with direct knowledge of the situation.
The government of South Korea has increased the offering size for a part of its stake in Industrial Bank of Korea (IBK) to USD250 million. Its finance ministry will be selling 23.24 million shares instead of the initial 13.16 million shares.
