Citigroup settles investor suit amounting to US$730 million. Citigroup Inc has agreed to settle a class action suit on behalf of its investors to the amount of US$730 million.
Finance/Venture
American Realty Offers Purchase of Cole Credit
REIT American Realty offers to buy Cole Credit. American Realty Capital Properties Inc, the American real estate investment trust, announced that it offered to purchase unlisted Cole Credit Property Trust III Inc.
SBI Gets Government Subsidy
SBI receives government funds for capitalization. The State Bank of India confirmed reports that it had received Rs3,004 crore from the government as part of the plan to recapitalize state run financial institutions.
Al Hilal Bank to Issue Sukuk
Abu Dhabi's Al Hilal Bank to issue sukuks before end of the year. Al Hilal Bank, the state owned bank of Abu Dhabi, is planning to issue a debut Islamic bond valued at US$500 million to be done in the third quarter of 2013.
Commercial Bank of Qatar Buys Majority in Alternatifbank
CBQ purchases majority stake in Turkish lender Alternatifbank. In a move showing Gulf interests expanding overseas, the Commercial Bank of Qatar has purchased 70.
Latest News
Sunac Greentown venture purchases land in Shanghai's Huangpu District for US$1.45 billion. Greentown China Holdings Ltd and Sunac China Holdings Ltd forged deeper bonds when it purchased a Hong Kong holdings company that has central Shanghai land assets in its portfolio.
Rate cuts instituted to entice investors to capitalize with Fidelity China. Fidelity, the fund manager, announced that management charges paid annually on Anthony Bolton's Fidelity China Special Situations Investment Trust by investors will have a price discount.
Carlyle Group founders announce earnings for 2012. Each founder of Carlyle Group LP received $57. 6 million each in earnings from their shares in the private equity firm and executive salaries in 2012.
Warburg Pincus converts compulsorily convertible preference shares to increase stake in Capital Finance.
Chesapeake Energy issues redemption notice despite failing to get injunction issued. Last Friday, Chesapeake Energy Corp issued an announcement that it would commence its plan of buying back US$1.
BYD, despite financial difficulties, denies share offer in the Hong Kong bourse. The Warren Buffett-Berkshire Hathaway backed Chinese automaker BYD Co Ltd denied a recent news report that the company is planning to sell new traded shares in Hong Kong's bourse.
Three more executives expand Carlyle Group Management Committee. The Carlyle Group, one of the world's top Global Alternative Asset Managers, has announced the addition of three Carlyle executives to the company's Management Committee.
Stilfel acquires Knight Capital's fixed income sales and trading team. Stifel Financial Corp announced it is acquiring Knight Capital Group. The St Louis based brokerage firm would be acquiring the fixed income sales and trading team of Knight, comprising one hundred individual employees.
Chinese investments through IADB show Chinese interest in the regional market. China will be investing in the Interamerican Development Bank's projects in Latin America and the Caribbean.
