Bristol-Myers Squibb is reportedly exiting its stake in a diabetes joint venture with AstraZeneca for $3 billion. Bristol-Myers shifted its focus from producing diabetes and hepatitis C treatment drugs to medicines harnessing the immune system to fight cancer.
Europe
Bayer to acquire Algeta in $2.9 B deal
Germany-based healthcare and agricultural products company Bayer said it will be buying Norway-based Algeta, its partner in developing a prostate cancer therapy, in a deal worth $2.9 billion, Bloomberg reported.
Paddy Power expands in Ireland by buying nine Hacketts bookies
Ireland-based gambling group Paddy Power has expanded the number of its outlets in Ireland through the purchase of nine bookies from Hacketts for an undisclosed sum.
Carlyle, KKR advance in the bidding for Transpacific Industries' waste management unit
US-based private equity firms Carlyle Group and KKR & Co and Australian investment firm Archer Capital have advanced in the sale of Transpacific Industries Group's waste management business. The three firms are working with banks to put together loan packages to back their bids.
US travel solutions provider Amadeus accelerates hotel IT business with $500M purchase of Newmarket International
Madrid, Spain-based global travel distribution system Amadeus bought hotel IT solutions provider Newmarket International Inc for $500 million in a bid to conquer the hospitality space.
Latest News
Banco Sabadell, a Spain-based bank, plans to add 25 more branches to its existing 42 branches in Angola to target the growing millionaires in the country.
The revival of initial public offerings in the US and Europe which started this year is set to continue next year, the Financial Times reported.
Italian clothier Moncler is expected to raise a total of about €784 million in its initial public offering after arranging banks Goldman Sachs Group, Bank of American Merrill Lynch and Mediobanca exercised the listing's greenshoe over-allotment option.
Munich, Germany-based travel marketplace Excursiopedia has added Moscow, Russia-based startup Travelatus in an effort to become a leader in the international travel industry and help travelers find local activities.
The Bitcoin's price instability is a reflection of the digital currency's vulnerability to the decisions of government officials, The New York Times The Dealbook reported.
Hungary-based state-owned utility MVM Zrt announced on Tuesday its plan to purchase a minority stake in natural gas supplier Fogaz Zrt in a deal valued at HUF41 billion ($187.4 million).
Sweden-based online payments company Klarna has bought Germany-based firm SOFORT in an acquisition deal valued at $150 million to become one of Europe's biggest independent payments alternative.
Darty, the third-largest electricals retailer in the European region, had agreed to sell Darty Turkey to eliminate losses in non-core markets. Darty has responded to weak consumer spending and competition from online retailers by exiting its loss-making operations.
Russia is prepared to invest more than €5 billion in Serbia to back projects centered in the energy and production sectors including lubricant refining, and plant reconstruction projects.
