Italian automaker Fiat SpA said in its announcement today that although Chrysler Group LLC has postponed plans for a 2013 initial public offering, the former expected the latter to carry on with its plans for a share sale next year.
Europe
Russian, Italian state funds agree investment deal
Russia's state-backed private equity investment fund and Italy's strategic state investment fund have agreed a deal to invest up to 1 billion euros ($1.35 billion) in companies and projects in the two countries, officials said on Monday.
Spain's 'bad bank' sells loan bundle to Bank of America - sources
Bank of America Merrill Lynch has bought a small package of loans from Spain's so-called 'bad bank' Sareb, helping the vehicle to surpass year-end sales targets, two sources familiar with the situation said on Monday.
Putin freezes prices in state companies to revive economy, may earn ire from allies
Allies of Russian President Vladimir Putin will reportedly get upset about the Russian state chief's latest economic policy to freeze prices starting next year, Bloomberg said in its report.
WePopp, a social planning app, secures EUR 130,000 from French angels
WePopp, a social planning app based in Paris, France, announced that it has secured EUR 130,000 from a small group of France-based angel investors. The newly injected funds will then be used to lure in more users to its system.
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Chemring Group, a UK based firm that caters to the ordinance disposal, pyrotechnics, countermeasures and munitions markets, said it will be divesting some of its business units.
Spanish bank Banco Popular announced the sale of its property management units to US-based investment companies Varde Partners and Kennedy Wilson for an undisclosed amount.
PSA Peugeot Citroen Chief Executive Officer Philippe Varin reportedly wants to tap the former chief operating officer of Renault SA to replace him as he steps down next year.
Online music platform company 7Digital is close to signing a deal to buy out UBC Media Group. The takeover deal will provide a London listing for 7Digital in place of UBC. Should it be successful, the float could give 7Digital a valuation of about GBP50 million.
British discount chain Poundland is preparing for a London listing that could give it a valuation of up to GBP800 million. US-based private equity firm Warburg Pincus, which controls Poundland, is looking to raise GBP200 million to GBP300 million in the initial public offering.
The Malaysian consortium made up of Sime Darby Property, SP Setia Bhd and the Employees Provident Fund, have secured GBP790 million in syndicated funding to acquire the Battersea Power Station in the United Kingdom.
Telecommunications and information technology (IT) service provider Coms PLC announced that it has completed the acquisition of Redstone Converged Solutions Ltd in a deal valued at GBP9.5 million.
The Wall Street Journal said private equity firms may soon be returning to Spain and Italy. The report cited data from Preqin and the information presented given by several sources.
Japan's Fast Retailing Co. is planning a secondary public offering in the Hong Kong Stock Exchange next year. If successful, the Tokyo-listed retail holding company would become the third Japanese company to list in Hong Kong.
