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.
Deals
Burger King forms joint venture to take on McDonald's in France
Burger King Worldwide Inc. formed a joint venture with Bertrand Holding Co. and Naxicap Partners to open new stores in France in the first half of next year. Burger King returned to the country last year, opening three stores with Italian restaurant operator Autogrill.
Colorado software startup Elihuu raises USD30,000 from students turned venture capitalists
Online software platform Elihuu secured USD30,000 in funding from Deming Center Venture Fund (DCVF), a group of University of Colorado boulder graduate students, for the development and expansion of the company's product.
Sinopec, Apache eye Kitimat investment in Canada -sources
Chinese refiner Senopec is in discussions with American oil-and-gas firm Apache Corp regarding the purchase of a minority stake in a liquefied natural-gas (LNG) project in Canada, according to sources familiar with the matter.
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.
Latest News
New Zealand-based dairy firm Fonterra has completed its acquisition of Australia's Tamar Valley Dairy in Tasmania, which is now fully-owned and managed by Fonterra Australia.
American investment firm JMI Equity is reportedly partnering with Hellman & Friedman to takeover Applied Systems Inc. from Bain Capital for USD1.8 billion. JMI has also been an investor in various Chicago companies including BigMachines, Trustwave and CouponCabin.
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.
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.
