Switzerland's third largest wealth manager Julius Baer Group Ltd said it has already acquired the Middle Eastern wealth management units of Merrill Lynch located in Lebanon, Bahrain and the United Arab Emirates.
Europe
MRC Global says will buy Stream AS for about $260M including debt
MRC Global Inc. announced today that it has entered into an agreement to acquire privately held Stream AS for approximately $260 million including the assumption of debt.
Banks sell Stemcor's loans to hedge funds-bankers
Lenders to troubled Stemcor, the world's largest steel trader, have been selling their exposure to hedge funds and distressed debt specialists before a key restructuring deadline on December 13, banking sources said on Monday.
Pioneer Investments recommends trimming of US equities holdings
Giordano Lombardo, the Group Chief Invesment Officer of Pioneer Investments, said investors should consider pruning their US equities holdings as the economy shows signs of improvement, according to a Bloomberg report.
Newspaper reports EADS plans to reduce workforce, sell Paris headquarters for restructuring
The European Aeronautic Defence and Space Company or EADS plans to cut anywhere from 5,000 to 6,000 jobs and sell its Paris headquarters as part of its reorganization program, Le Figaro newspaper reported.
Latest News
According to a Bloomberg report, American mutual funds are looking to make European investments, betting that the region will just begin its rally and as the US bull market has already aged.
Newcastle-based tech firm Three Motion Media has invested GBP150,000 to set up a brand that will help small and medium enterprises (SMEs) in the healthcare sector gain access to high quality yet affordable training courses.
Luxury fashion house Chanel has acquired the Bodin-Joyeux tannery based in Levrous, France, in a bid to maintain the world-class quality of the fashion company's leathers.
Hong Kong-based private equity firm Gaw Capital Partners is set to purchase minority stakes in four commercial property acquisitions in the UK and the US, in a deal with a total value of USD1 billion.
UK-based investor Utilico Investments has reduced its stake in New Zealand-based energy business operator Infratil through the company's buyback program and a share sale on the market.
UK-based mobile game maker King has delayed its initial public offering (IPO) until 2014 amid fears that its flagship game, Candy Crush Saga, is just a "one hit wonder," said UK-based newspaper.
Bankers told the Financial Times that the news of HSBC's planned spinoff of its UK unit logically follows the ringfencing requirements that will be part of the UK Banking Reform Bill about to be passed through the British parliament.
Institutional investors were putting more money to private equity funds as they bet on improved dealmaking in the next two years, according to a report.
Bob Diamond, the former Chief Executive of Barclays, will be returning to banking by listing a company that will be investing in the African financial sector, a source interviewed by Reuters said.
