Blackstone Group LP's decision to sell its La Quinta Inns & Suites hotel chain was reportedly done in order to obtain higher returns as oppose to conducting a private sale, sources said to Bloomberg.
Exits
Repsol to give recommendation to YPF deal for less than half of its value - sources
On Wednesday, sources disclosed that the board of directors of Spanish oil major Repsol will resolve to agree on compensation for its 51% ownership stake in YPF, of which the latter will be nationalized by the government of Argentina.
JG Summit raises more funds for Meralco stock purchase
Philippine-based JG Summit Holdings Inc raised PHP8.8 billion through an overnight equity placement to fund a stake acquisition in Manila Electric Company (Meralco) and other corporate purposes.
Bain Capital to exit Applied Systems for USD1 billion
American private equity firm Bain Capital was said to be in talks with other private equity firms to sell its insurance software business Applied Systems Inc. Sources said that the sale could bring in USD1 billion to the investment firm.
Intel Corp wants USD 500 million for online pay TV service OnCue- sources
Intel Corp is asking USD 500 million for OnCue, the service that allows users to access pay TV programs through a high speed Internet connection, according to sources interviewed by Bloomberg.
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In order to comply with competition issues surrounding its July acquisition of Whyte & Mackay owner United Spirits Limited, Diageo PLC offered to sell majority of the latter's distilleries.
Although Dubai seemed to have recovered from the 2009 debt crisis it experienced in 2009, it needs to sell some of its assets, including Mauser, to repay some USD50 million in debt, according to sources who told Reuters.
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.
American private equity firm Carlyle Group LP is considering to sell its 67% stake in Eastern Broadcasting Co. for up to USD700 million. Carlyle built a majority holding in the Taiwanese broadcaster after acquiring its parent company for USD1.5 billion.
Switzerland-based Trafigura Beheer BV had put up for sale its stake in Puma Energy for USD500 million. Trafigura sold a part of its interest in the African unit to Angola's Sonangol Corporation and Cochan Ltd.
France-based phone firm Orange is nearing an agreement to exit its unit to Luxembourg-based cable and telecommunications investor Altice, according to sources interviewed by Bloomberg.
The British government will announce on Monday it has agreed a deal to sell off a portfolio of student loans worth 900 million pounds, Sky News reported on Sunday, quoting people close to the situation.
The Department of Energy will lose about USD139 million on a loan given to Fisker Automotive under a clean vehicles program after the automaker sold part of the loan to Hybrid Technology.
