SBM Offshore, along with its partners, has signed a $3.5 billion contract from Brazilian oil firm Petrobras to construct two oil platforms.
Europe
Printemps offers worry Union
The pending sale of Printemps has worried union representatives as to possible job cute. Printemps, the French department store, is now nearing completion of its sale to Qatari investors, The projected deadline is as early as this summer with the timetable for the deal now being prepared for the staff.
French State Safran Shares for Sale
The French Ministry of Finance is selling 3.12% interest over the aerospace company Safran. The 3. 12% shareholdings of France in Safran is up for sale.
AXA Assets to be Bought by Protective Life
Protective Life is the leading buyer for assets of AXA Life amounting to US$1.5 billion. American insurer Protective Life Insurance is the frontrunner in the purchase of picking up AXA SA's life insurance assets.
HSBC Clamps Down on Browder and Hermitage Russia Fund
HSBC winds up Hermitage Fund. HSBC Holdings Plc has closed down Hermitage Capital Management and its Russia Fund. The fund's co-founder, William Browder, is now facing charges of libel in London and concurrently being tried in Moscow for tax evasion.
Latest News
CVC Capital partners would be selling off its shareholdings in the Belgian Postal Service or Bpost. CVC Capital Partners, the private equity group, is now preparing to sell to the market twenty five to thirty percent of the Belgian Postal Service.
FCP purchases bioethanol plant for machinery to outfit the construction of another plant in the UK. UK investment company Future Capital Partners Ltd has agreed to purchase Appomattox Bio Energy LLC.
Shire pay US$160 million for SARcode Bioscience. Shire recently announced its purchase of privately owned US biotech firm SARcode Bioscience. The acquisition was worth US$160 million and central to the deal is the rights over a new drug in the late stages of development that helps cure dry eye disease.
Sanofi is seeking partnership for venture capital projects for its future portfolio. France's largest drugmaker Sanofi is seeking more deals with venture capitalists such as its agreement with biotechnology company Warp Drive Bio.
Schroders pays GBP 424 million for 200 year old Cazenove Capital. Schroders, the UK based fund manager announced that it would pay GBP 424 million or US$646 million to purchase Cazenove Capital.
CSM sells off bakery supplies business to Rhone Capital for Eur850 million. CSM, the Dutch food ingredients conglomerate had announced that it sold its bakery supplies business for Eur850 million or US$1.
Fund manager Schroders has signed an agreement to buy Cazenove Capital for 424 million pounds, a deal that would merge the two oldest names in the city of London, England.
CMS is selling its bakery supplies business to Rhone Capital to focus on other profitable ingredients.
The planned merger of Hapag-Lloyd and Hamburg-Sued has been cancelled when the two container shipping companies disagree on some terms.
