LVMH takes over majority of Loro Piana for US $2.57 billion LVMH Moet Hennessy Louis Vuitton agreed to buy 80% of Loro Piana SpA, one of the premier textile producers in Italy, for US $2.
Europe
LVMH To Buy Control of Loro Piana
Last Monday, LVMH announced an 80% acquisition deal of Loro Piana priced at Eur2 billion. On Monday, LVMH said that it has acquired 80% of Loro Piana, an Italian luxury cashmere clothing brand.
Osborne supports jail time for execs of failed companies
The U.K. Chancellor of the Exchequer has supported tougher rules for the banking industry George Osborne, U. K. Chancellor of the Exchequer, has supported tougher rules for the banking industry.
Greece Gets Multi-Billion Euro Lifeline Grant from Euro Zone
Greece got cash lifeline funded by the euro zone and the International Monetary Fund which spared the country from incurring debt default by August.
Fiat still in negotiations with VEBA over Chrysler stake
Fiat's Chief Executive verifies that talks are still ongoing over Chrysler buy out. Sergio Marchionne, Chief Executive of Italian carmaker Fiat, has confirmed that negotiations to buy the 41.
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Osram Licht AG's shares dropped by 2.4% and settles at Eur 23.65 on Monday Osram Licht AG, a German lighting and specialty lighting manufacturer second only to Philips, saw a drop in its shares by 2.
The UK NEST gave Legal and General Investment Management mandate over real estate asset allocation. The United Kingdom's National Employment Savings Trust or NEST deployed a scheme involving a 20% member asset allocation to a real estate fund.
Investors from France are cutting back on investments due to fears of high interest and foreign competition.
Vue Entertainment sells bonds for LBO funding The cinema operator Vue Entertainment Ltd. planned to sell bonds on a meeting with investors. The proceeds of this bond sale would be used to fund the company's leveraged buyout.
BAIC Group revealed they plan to expand inside China and in Europe. BAIC Group, the Chinese partner of Daimler AG and Hyundai Motor Co, plans to acquire one or two domestic automakers this year, in a statement released by its chairman, Xu Heyi.
Fiat announced today that it will increase its stake on RCS Mediagroup. Fiat's chief executive officer Sergio Marchionne announced today that the carmaker from Italy will increase its stake in depreciating publisher firm, RCS Mediagroup.
Greece was expected to receive Eur8.1 billion from Euro-area finance ministers. Euro-area finance ministers were expected to approve Greece's newest disbursement of bailout assistance.
A Chinese insurance company agreed to acquire the London’s Lloyds building for US$388 million. A Chinese insurance corporation decided to purchase the Lloyd's of London building worth GBP260 million equivalent to US$388 million.
Retail real estate investments in Russia have reached US$2.06 billion, surpassing 2011 annual levels, in the first half of 2013.
