Hero MotoCorp on Wednesday announced its buyout of 17.49 lakh shares in HMC MM Auto Ltd., which represents a 60% stake in the company. HMC MM Auto Ltd. is a joint venture of Hero MotoCorp and Italian automobile company Magneti Marelli.
Europe
Finland's Fortum agrees on sale of power distribution business to Suomi Power Networks
The largest utility firm in Finland, Fortum Oyj, would be exiting from its power distribution business in Finland to Suomi Power Networks, Bloomberg said in its report.
Romania's Fondul Proprietatea exits from entire stake in Transgaz
Fondul Proprietatea on Thursday said it has put up for sale its 15% stake in state-owned gas grid operator Transgaz SA. The Romanian restitution fund raised RON303.5 million in its exit deal.
Liberty Global revives acquisition talks for Ziggo- sources
Dutch broadband provider Ziggo said it is in talks with billionaire John Malone's cable firm Liberty Global for a possible offer, sources had told Bloomberg.
Ernst & Young director approves Bitcoin, says has potential to be a game-changer
EY director Colin Pickard said Bitcoin has the potential to be a game changer in the financial services industry as long as governments start regulating the digital currency.
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The Irish Times reported that the National Pension Reserve Fund of Ireland or NPRF is believed to be mulling a sale for its private equity investments.
French automobile manufacturer PSA Peugeot Citroen is nearing a €3.5 billion share sale deal with Chinese carmaker Dongfeng Motor Co. and the government of France. Under the terms of the deal, Dongfeng and the French state will each hold a 20% stake in Peugeot.
Celesio's supervisory and management board on Wednesday recommended shareholders to approve the $8.3 billion buyout offer from US drug distributor McKesson Corp. Elliott Management Corp, one of Celesio's shareholders, earlier refused McKesson's offer.
UK-based investment fund Pearson Affordable Learning Fund has backed Delhi-based education startup Avanti Learning Centres to develop a system that will help students from low-income families prepare for college entrance tests.
Canada Pension Plan Investment Board, one the country's top pension funds, has purchased a 15% stake in Orpea. CPPIB paid €320.8 million for the minority stake in the French nursing home company.
Bondholders and large depositors in a failing bank face taking losses from the start of 2016, European Union negotiators have agreed, a European Parliament lawmaker said on Wednesday.
The following bids, mergers, acquisitions and disposals were reported on Wednesday, including Fortum, National Vision, Saipem, CTT, MTS, Southern Pacific, Warrnambool, Verbund, Bakkafrost, Popular and Marathon Oil.
The Luxembourg-based General Court declared on Wednesday that Cisco's antitrust concerns regarding Microsoft Corp's takeover of the largest Internet video and voice messaging provider Skype was unfounded.
A Business Insider report said the few hundred people who owned the digital currency Bitcoin are the ultra-rich, as estimates indicate that each owns at least $1 million worth of Bitcoins.
