The proposed sale of ParexGroup, the industrial mortars business of construction company Materis, has stalled after the highest bids only reached €800 million. Materis and its private equity backer Wendel earlier asked for €1 billion for Parex.
Europe
Barclays asks judge to stop regulator from collecting fines
UK-based lender Barclays denied allegations that it manipulated electricity prices in California. It asked the the court to stop the US Federal Energy Regulatory Commission from collecting fines.
Telecom Italia rebel investor submits list of candidates for new board
Shareholders of Italian telecom company Telecom Italia are were said to vote this week on whether or not to oust its current board. Rebel investor Findim Group on Monday proposed candidates for Telecom Italia's new board.
Study says deals M&A deals among wealth managers increase this year
A study from Scorpio Partnership, a consultancy group based in London, showed that mergers and acquisitions among wealth managers have gone up this year, Bloomberg reported.
Irish e-commerce fraud prevention firm Trustev adds $500K from Notion Capital
Ireland-based e-commerce fraud prevention startup Trustev added a $500,000 investment from Notion Capital to its recently closed $3-million seed round to capitalize on the booming e-commerce.
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In the European Central Bank's launch of a new 10 euro note, the Euro Zone's central bank launched an online competition wherein top-scoring players get the chance to win exclusive prizes for playing a Tetris-like game that unlocks information about the new note's security features.
Endemol, the TV production house who was made famous for its game shows like Deal Or No Deal and Fear Factor, was said to have made a $13 million strategic bet in UK-based social casino startup Plumbee.
Massachusetts-based BackOffice Associates has bought Farnborough, UK-based SAP Data Services consultancy firm ENTOTA for an undisclosed amount. Goldman Sachs invested $30 million in BackOffice five years ago.
A report on VentureBeat explained why the country of Ireland is not an attractive investment only for its low corporate tax rate, which many US tech companies with offices in the region had taken advantage.
Reuters said in its report that Britain's BP PLC has closed a $16 billion deal to develop Oman's Khazzan tight gas project. Construction of the tight gas project is expected to begin next year, while first gas is expected in late 2017.
Glasgow, Scotland-based growth equity and venture capital firm Scottish Equity Partners (SEP) said it will boost its total portfolio investment from £40 million last year to £60 million this year.
US insurer AIG said it will be selling International Lease Finance Corp to Netherlands-based AerCap Holdings for $5 billion, Bloomberg reported. The deal will be for cash and shares.
PA Group, the parent company of UK's national news agency Press Association, is to sell its weather unit MeteoGroup to private equity group General Atlantic in a deal valued at £160 million (€190 million).
Spanish food retailer DIA on Monday said that it is negotiating a possible purchase of supermarket chain El Arbol for €100 million. If the deal goes through, DIA will be the third-biggest grocer in Spain next to Mercadona and Carrefour.
