The Dabbagh Group is preparing to buy out Gulf Oil from JV Petromin. The Dabbagh Group is the firm of the Saudi Arabian royal family that is now in discussion to buy out the stake of its Indian partner in a lubrican venture in Saudi Arabia.
High-net worth individuals
Edge Berggruen to acquire Portuguese Top Tier Properties
Three partners led by Nicolas Berggruen is planning to invest as much as Eur 1 billion in Portuguese properties.
DenizBank Acquires Citi's Turkish Consumer Business
Denizbank has entered into an agreement to acquire the Turkish consumer businesses of Citibank. Denizbank A. S. of Turkey was recently acquired by Sberbank, a state controlled bank of Russia late last year.
Slim Increases Shareholdings in America Movil
The world's richest man now holds 31.1% of America Movil shares. Carlos Slim, the world's richest man, has further increased his shareholdings in his phone company America Movil.
Jay-Z Sells Brooklyn Nets Interest
Jay-Z is divesting ownership with NBA team Brooklyn Nets to become a sports agent. Rap icon and producer Jay-Z has now offered his shareholdings in the National Basketball Association's Brooklyn Nets for sale in order to focus on the growth and development of his sports representation business.
Latest News
Bulat Utemuratov is thinking whether to purchase state owned shares in Alliance Bank and Temirbank. Bulat Utemuratov, the Kazakh billionaire tycoon is contemplating whether to purchase Alliance Bank and Temirbank from the government.
The latest bid is now subject to exclusive talks between Billabong and Naude-Sycamore consortium. Billabong International Ltd, the Australian surfwear company is now entering a ten (10) days of exclusive discussions with a consortium for a takeover bid.
The Chinese government is now in a quandary as to the crackdown on corruption against the so-called princelings.
The CP Group will use revenues from Ping An acquisition to grow in China. CP Group of Thailand head had confirmed that its earnings from the Ping An transaction would be reinvested in China.
KKR is going to purchase the Alliance Tire Group through a leveraged buyout of US$650 million cash and US$125 million in debt.
Things are heating up between Icahn and the Dell Special Committee on issues of reimbursement, proxy fights and possible litigation.
Investor Carl C. Icahn can be reimbursed of up to $25 million worth of expenses related to his deal work on certain conditions.
Former Hulu board member Peter Chermin offers US$500 million for Hulu. Hulu, the online video streamiong service established in 2007, has received an offer from former News Corp President Peter Chernin.
EU Olli Rehn provides insight on new EU rules on investor liabilities in bank failures. Under the new European Union law in the works, large bank depositors can take a hit should the bank fail.
