The stock of India-based Mahindra Holidays rose 5% after the company announced it had sold all its shares in two hotel firms in Austria for an undisclosed sum.
Europe
Firm controlled by Russia's Khotin may bid for Exillon Energy
Russian businessman Alexei Khotin could make a takeover offer for London-listed Exillon Energy Plc, a company controlled by Khotin said, setting the stage for a possible bidding war with the oil producer's second-largest investor.
Trufa receives USD4.5 million in Series A funding in developing software for operational expense efficiency
Trufa, a real-time data analytics software that aids companies in improving its financial performance via operational expenses analysis, nabbed USD4.5 million in Series A funding in an investment round led by Accel Partners.
Gerresheimer drops out of bidding for Rexam's healthcare packaging business
German medical supplies manufacturer Gerresheimer on Wednesday confirmed that it is no longer vying for UK-based Rexam's healthcare packaging unit. The company said the healthcare business did not fulfill its acquisition requirements.
Polish delivery company Siodemka prepares for Warsaw listing debut
Poland's Siodemka, one of the country's biggest delivery firms, is planning to list on the Warsaw Stock Exchange. 18 companies have already debuted in the Polish bourse this year.
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Ben Venue Laboratories, a subsidiary of German Boehringer Ingelheim in the US, has engaged Bank of American Merill Lynch to advise it on a proposed sale of its sterile injectable drugs business.
Ireland's Ryanair on Tuesday announced that it won't participate in Italian airline Alitalia's EUR300 million emergency cash call. Other carriers including Lufthansa, Etihad Airways, Aeroflot and Alitalia shareholder Air France-KLM have also turned down the deal.
A new GBP10 billion privatization program will see Britain's 40% stake in cross-channel rail operator Eurostar sold off to help pay down UK's debts.
A Bloomberg report said the largest insurance firms in the UK will be pouring about GBP 25 billion or USD 41 billion in the country's infrastructure in the next five years.
An article published by the New York Times said that the Versace deal may not please investors. Versace valued itself at over EUR1 billion (USD1.36 billion), which is 14 times its current-year EBITDA at EUR70 million.
Japan's Toshiba Corp. and German real estate major Gagfah SAS entered a joint venture to sell energy directly to residents in Germany. The deal could bring in a revenue of USD184 million to USD233 million to the Japanese conglomerate.
Germany's Douglas Holding AG has began the process of divesting Hussel, the biggest confectionery chain in the country. After being taken private, Douglas committed to actively managing its portfolio through acquisitions and divestments.
The following bids, mergers, acquisitions and disposals were reported on tuesday including Adcock Ingram, Energa, Nordea Bank, Alitalia, Ben Venue, TIM Participacoes, Douglas, Mercator, Novartis, OncoMed, Kerning and Malaysia Airports
British insurers plan to invest 25 billion pounds ($41 billion) in transport and energy projects over the next five years, the finance ministry said on Wednesday, a day before it presents a half-yearly economic update.
