The following bids, mergers, acquisitions and disposals were reported on Tuesday including Nokia, IntercontinentalExchange Group, Goldman Sachs and others.
Europe
Glaxo SmithKline completes Aspen stake sale
London-based pharmaceutical giant Glaxo SmithKline (GSK) completed the sale of its 28.2 million shares in Aspen Pharmacare at ZAR250 per share, raising a total of USD694 million in proceeds.
Russian Rosneft in talks to buy Morgan Stanley's oil trading unit
Russia's state-run oil firm Rosneft is looking to acquire Morgan Stanley's oil trading business for an unspecified amount. Morgan Stanley has been trying to sell or spin off the said business unit over a year ago.
No more large acquisitions for Canaccord Genuity Group Inc
Canaccord Genuity Group Inc said it will not be making more large purchases. Instead, the Canada-based non-bank brokerage will grow its UK wealth management unit through small deals.
India's Future Group in talks to buy supermarket chain from Actis Capital
The Future Group was reportedly negotiating a takeover of the Bangalore-based supermarket chain Nilgiris. British private equity firm Actis Capital bought Nilgiris for USD65 million and currently owns 65% of the company.
Latest News
The following are mergers under review by the European Commission and a brief guide to the EU merger process
The following financial services industry appointments were announced on Tuesday including Barclays, Hiscox, Hartford Funds and Aon Risk Solutions
Spain will take formal offers from potential buyers for Spain's nationalized lender Novagalicia Banco from Tuesday.
TCAS Online, a student accommodation management systems provider based out of Dublin, Ireland, received EUR650,000 in fresh funding from private investors including Kernel Capital Partners.
Atomico's Fund III was intended to provide financial support to startups who are raising money via later-stage funding rounds to aid them in scaling their businesses.
A most notable reason of Russian oil company Bashneft planned to launch an initial public offering was to avoid the chances of a hostile takeover by a potential investor, said one investment firm analyst.
Netherland's DSM said it would spin off its pharmaceuticals division to private equity firm JLL Partners for USD2.6 billion. The post-spin off company would be developing and manufacturing drugs under contract.
Julius Baer Group said it will be acquiring WMPartners Wealth Management. The latter will then be merged with Julius Baer's Infidar Investment Advisory Ltd unit to form one of the largest independent asset management company in Switzerland.
Nokia shareholders were expected to approve the sale of its beleaguered handset business to Microsoft Corp. for EUR5.44 billion. The takeover would boost Nokia's cash position to EUR8 billion.
