The Chinese government is now in a quandary as to the crackdown on corruption against the so-called princelings.
Finance/Venture
EFSF Gets Windfall on Asian Demand for Bonds
The European Financial Stability Facility was met with strong Asian demand for five year securities at interest of 0.875%.
Russian Banks Get Support over Foreign Competition
Using bailout funds, Russian state owned banks create new business for its benefit. State controlled Russian investment banks of President Vladimir Putin are bullying foreign competitors out of the market, as they are buoyed by a bailout from its Russian tycoon cartel.
Sea World's Shamu To Go Public
Sea World would be offered to the public via an IPO scheduled within the year. Sea World Parks and Entertainment, now owned by Blackstone Group LP, would be offering its shares at initial public offering at a price range between US$24 and US$27 per share.
Bank of Shanghai IPO Being Prepared
The Bank of Shanghai is preparing a US $2 billion offering in Hong Kong and Shanghai bourses. The Bank of Shanghai is planning to seek US$2 billion in an IPO in Hong Kong.
Latest News
Silverfleet Capital purchases Ipes. European private equity firm Silverfleet Capital has entered into an agreement with Ipes, one of Europe's providers for fund administration and outsourcing services.
MMC London Fund established for GBP11 million for specific areas of development. MMC Ventures recently lands a tender to launch the MMC London Fund. The fund is worth GBP11 million or US$16.
The mystery lender who financed Thai billionaire Dhanin Chearavanont's $9.4 billion acquisition of HSBC's 15.6 stake in Ping An Insurance Group Co.,China's second largest insurer, had been named.
Business Secretary Vince Cable wants the three former HBOS plc directors who were responsible for the bank's failure to be stripped of their current board roles and banned them from running a financial company in the future.
Enaltus acquires ScarAway to expand its skincare products. Enaltus has recently acquired the properties of Mitchell-Vance Laboratories. Mitchell Vance is a portfolio firm of the HealthEdge Investment Fund LP based out of Tampa Florida.
Mitsubishi UFJ Finance Group is in discussion to acquire US commercial property loans from Deutsche Bank.
The merger of the National Bank of Greece and its subsidiary NFG Eurobank is suspended until further notice.
The JV between EFG-Hermes Holding SAE and QInvest LLC is at risk for the delayed approval by Egyptian regulators.
The board of directors of Sterling Bancorp, Inc. is being investigated for potential claims in relation to its proposed acquisition by Provident New York Bancorp.
