The acquisition will create a second largest investment bank in Egypt. Sawiris acquired CI Capital Holding with its investment arm, Orascom Telecom Media and Technology.
Deals
Exxon's Canadian unit offloads gas stations for $2.1 bln
Exxon Mobil Corp's Canadian unit is selling its retail gas stations in the country to five fuel distributors for C$2.8 billion ($2.1 billion). The transaction is expected to be completed by end of 2016 subject to the regulatory approvals.
AMC Entertainment Will Acquire Carmike Cinemas Despite Shareholder's Objection
AMC Entertainment will acquire Carmike Cinemas to be the largest theater chain in North America. One Carmike's shareholder opposed the acquisition, citing the price offer was too low.
Intercontinental Exchange Prepare a Bid for London Stock Exchange Against Deutsche Boerse
Owner of New York Stock Exchange, Intercontinental Exchange prepare its bidding on London Stock Exchange. The bid came in the midst of merger talk between London Stock Exchange and Deutsche Boerse.
Imperial Oil to sell Esso brand gas stations to Canadian distributors
Imperial Oil has entered into an agreement to sell its 497 Esso retail fuel stations for about C$2.8 billion. This transaction reflects the company's aim to widen its refining and oil sands businesses.
Latest News
There is a saying "Strike while the iron is hot". That is what Silicon Valley is doing - investing big in India where the economy grows faster.
Russian energy company GazProm signed a loan agreement with Bank of China on Thursday. GazProm borrowed €2 billion ($2.17 billion) on a 5-year term
Roofstock gets Series A funding of $13.25 million led by Bain Capital Ventures. The funds will be used in an online marketplace and will be launched on Thursday in Florida.
It was agreed that Samsonite is to acquire luggage-manufacturer rival Tumi for about $1.8 billion. Samsonite has long been interested in Tumi and its acquisition is considered the biggest deal made by Samsonite.
Northern Trust subsidiary 50 South Capital Advisors is going to acquire Aurora Investment Management, a Natixis Global Asset Management subsidiary. Both the parties are maintaining silence on terms of the deals which is expected to close by the end of September. Most of the Aurora Investment professionals will continue their service.
InstarAGF Asset Management announced the initial closure of its C$372 million fundraising for InstarAGF Essential Infrastructure Fund. The fund aims to purchase power, social and civil infrastructure assets and amenities with ecological downside protection.
Cisco has acquired Leaba Semiconductor, an Israeli company for less than $400 million. The acquired company provides new ideas and solutions for important infrastructure difficulties. It focuses on the product design, development and marketing and develop affinity with silicon wafer manufacturers.
It's been almost a year since Exelon and Pepco announced their possible merger. Both companies are now facing difficulties as they need to comply with new conditions the district imposed. They have to adapt with the new terms if they want the merger to move forward.
Foresters and Proj Fox Acquisition have signed a deal on February 29, 2016, whereby, Foresters will indirectly buy both Aegon Fund Management (AFM) and Aegon Capital Management (ACM).
