Crane Co. announced today that the European Commission has approved the definitive agreements to implement the licensing and divestiture Commitments by Crane Co. related to its pending acquisition of MEI Conlux Holdings.
Europe
Swiss food giant Nestle to divest USD1.27 billion Givaudan stake
Switzerland-based food group Nestle SA is divesting its Givaudan SA shares worth USD1.27 billion to institutional investors, according to a statement on the company's website.
Experts warn UK-based hedge funds may go abroad after government's crackdown plans
Experts say there is a possibility that London-based hedge funds may be pushed away from the UK after the government said it would be conducting a clampdown on corporate partnerships.
SFX acquires majority stake in European ticketing firm Paylogic
As part of its recent acquisition streak, SFX Entertainment bought a majority stake in European ticketing services company Paylogic in a deal valued at approximately USD16.5 million.
Telecom Italia rebel investor Marco Fossati opposes enforced sale of TIM Brasil
Telecom Italia's activist investor Marco Fossati campaigned against the enforced sale of TIM Brasil. Brazil's competition regulatory body ruled earlier this week that Telecom Italia must divest its stake in the Brazilian mobile carrier.
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Venture capital firm Northzone had set up its biggest fund yet at EUR200 million or USD272 million. The fund will be geared towards making investments in startups within the Nordic region and businesses who had partnered with a Nordic-influenced startup.
Deutsche Telekom's statement revealed that it has a strategic partnership with Twitter Inc to boost the former's opportunities in innovative marketing, advertising and customer service.
According to third quarter results released by Russian bank VTB Group, the bank already sold a 50% stake in Tele2 that it acquired earlier in April this year for RUB40.4 billion or USD1.2 billion.
Carlsberg Group reportedly purchased a 30.3% stake in joint venture partner Chongqing Brewery. The Danish brewer hopes to expand its presence in China's USD76 billion liquor market.
Moorfields Corporate Recovery, the administrator for Blockbuster UK, said the video rental company is doomed to close after efforts to find a buyer had failed, a Bloomberg report said.
French building materials business Materis is reportedly in an advanced stage of negotiations to sell its business unit Kerneos. Investment firm Astorg Partners will acquire Kerneos for EUR610 million.
Private equity firm KKR agrees to a restructuring deal for Germany-based car repair chain Auto-Teil Unger or ATU through a debt-for-equity swap with the latter's main creditors.
A source told Bloomberg that property investment and development company Heron International Ltd will be selling a penthouse in its residential tower in London for GBP 18 million.
German pharmaceutical company Merck KGaA will acquire AZ Electronic Materials for GBP1.6 billion. Merck will pay AZ's existing stockholders GBP403.5 in cash for each share.
