Owners of Hong Kong lender Wing Hang Bank Ltd. had received preliminary bids for its sale. It has engaged Goldman Sachs Group Inc. to advise it on the deal. Wing Hang plans to sell the company for USD4.5 billion.
Finance/Venture
Credit Suisse sells private customers business to German Bethmann Bank
Switzerland's Credit Suisse is selling its private customers business to German Bethmann Bank. Under the deal, Bethmann will take over Credit Suisse's 9,000 clients with EUR10 billion assets in Germany.
US House passes bill to exempt private equity firms from Wall Street Reform Law
In a 254-159 vote, the US House of Representatives passed a legislation exempting private equity firms from provisions in the 2010 Dodd-Frank Wall Street Reform Law. However, a similar action is not expected from the Democrat-dominated US Senate.
Clarity Health Services scores USD 6.6 million from Columbia Pacific Advisors' Opportunity Fund
Clarity Health Services, a Seattle, Washington-based care coordination solutions provider for the healthcare industry, received USD 6.6 million funding from Columbia Pacific Advisors' Opportunity Fund.
Hedge fund Hayman Capital takes stake in GM-report
Hedge fund Hayman Capital has taken a stake in General Motors Co and believes the U.S. automaker's stock is poised to rise more than 40 percent over the next 12-18 months after the U.S.
Latest News
Denmark-based pension fund PensionDanmark is set to invest GBP153 million in six onshore wind farms of Falck Renewables, in a deal that will give the Danish firm a 49% stake in the energy sites in Wales and Scotland.
Chinese investment firm Sailing Capital Management has launched a USD821 million (CNY5 billion) cross-border buyout fund through Shanghai Sailing Industrial Capital, a subsidiary of the company.
Swiss banking group Credit Suisse has put up for sale its remaining limited partnership interests in leveraged buyout firm DLJ Merchant Banking Partners. British private equity firm Coller Capital will be acquiring the assets.
Brisbane-based private equity fund manager Blue Sky Alternative Investments Ltd plans a USD25.59 million fundraising by the end of 2013 through a series of share sales.
A Bloomberg report said the largest insurance firms in the UK will be pouring about GBP 25 billion or USD 41 billion in the country's infrastructure in the next five years.
Private equity firms are rushing to cash in on strong investor demand as evidenced by the flood of initial public offerings this year, according to a report.
The following bids, mergers, acquisitions and disposals were reported on tuesday including Adcock Ingram, Energa, Nordea Bank, Alitalia, Ben Venue, TIM Participacoes, Douglas, Mercator, Novartis, OncoMed, Kerning and Malaysia Airports
Bloomberg report said Salix Pharmaceuticals has proposed a rate for the USD 1.2 billion financing it will be getting for the purchase of Santarus Inc.
A USD 4.5 million credit facility was granted to Chicago-based online provider for in-home care Sittercity by Square 1 Bank, a bank that exclusively caters to the needs of entrepreneurs and the venture capital community.
