In its first acquisition after going public, Australia-based insurance brokering network Steadfast Group Limited has bought a 60% stake in underwriting agency Protecsure Pty Limited.
Finance/Venture
EU joins China, Germany and Norway about the danger of using Bitcoin
The European Union through its European Banking Authority expressed warning similar to China, Germany and Norway regarding the risks associated in using Bitcoins as payment.
RSA Insurance Group CEO quits as insurer increases reserves in Irish unit
RSA Insurance Group Chief Executive Officer Simon Lee resigned as the insurance company boosted its Irish reserves to £130 million or $212 million, Bloomberg reported.
Central bank of Russia shuts down Investbank, two more in criminal activity crackdown
Investbank, Smolenksy and Project Finance Bank had been stripped off of their operating licenses due to dubious activity and payment issues with creditors and depositors, the Russian central bank said in separate statements on Friday.
Sweden's Arcam inks deal to acquire metal powders maker for CA$ 35 million
Sweden-based Arcam said it had signed a deal for the acquisition of the AP&C division from Raymor Industries for a price tag of CA$ 35 million.
Latest News
Monte dei Paschi di Siena's board has opposed a proposal by its top investor to push back a €3 billion cash call to May next year. Monte Paschi's largest shareholder earlier threatened to vote against the impeding capital increase.
The pension funds in Canada were said to have shifted towards private equity in their quest to avoid fees and improve performance to better serve the needs of its retirees, a Businessweek report said.
American International Group is said to be negotiating the sale of International Lease Finance Corp. to Netherlands-based independent aircraft lessor AerCap Holdings NV. In December 2012, AIG agreed to sell as much as 90% stake in ILFC to a Chinese consortium for $4.7 billion.
After a disagreement on the valuation of the home retailer they founded, the Klein family was able to find an exit on Via Varejo after its $1.2 billion stock sale, Bloomberg reported.
Bitcoins suffered a blow in Norway as the government declared that it was not real money. It will be treated as an asset and be subject to a capital gains tax, Bloomberg reported.
Texas-based tech giant Dell announced a new $300-million venture capital fund that will support enterprise technologies, big data, cloud computing, next generation data center, security, and mobility startups.
Citing sources, Bloomberg reported that consumer and retail-focused private equity firm Sycamore Partners is nearing a deal for the acquisition of retailer Jones Group Inc.
A Bloomberg report said Berry Plastics Group Inc is seeking to refinance its debt, offering to pay 2.75 to 3 percentage points more than the London interbank offered rate.
Carl Icahn today acquired 30.6 million shares of Hologic Inc upon exercise of all of the call options according to SEC filing.
