Investors seemed to be positive with regard to news from former Brazilian billionaire Eike Batista about Oleo & Gas Participacoes SA's creditors agreeing to convert $5.8 billion worth of company debt into equity stakes.
Industrials
GS Holdings and LG to pay $598M for combined stake in South Korea's STX Energy
South Korean oil refiner operator GS Holdings Corp entered into an agreement with commodity trader LG International Corp to acquire a combined stake in STX Energy for $598 million.
Rosneft not eyeing any more acquisitions, will focus on Morgan Stanley unit merger instead
Russian oil producer Rosneft said on Friday that it does not have any plans to make strategic acquisitions after agreeing to acquire Morgan Stanley's oil trading unit last week.
SAIL, ONGC of India in discussions for a joint coal-bed methane exploration project
State-owned steel maker Steel Authority of India (SAIL) and the country's largest energy explorer, the Oil and Natural Gas Corporation, are in preliminary talks about jointly exploring coal-bed methane in Indian coal blocks. SAIL wants to use coal-bed methane to reduce input costs.
Probes in Indian mining deals endangers $160 billion projects - report
Commodity analysts believed that the successive probings into mining deals in India could become a factor in the potential disinterest of investors pouring in funds into the country.
Latest News
China-based construction equipment manufacturer Zoomlion Heavy Industry Science & Technology Co has bought Germany-based dry mortar equipment producer M-Tec, according to a statement on the company's website.
Bankers expressed their doubts that Royal Dutch Shell's 23.1% stake in Woodside Petroleum could be snatched up by bigger oil companies as the latter are also eyeing to sell assets as well.
Brazil-based iron ore miner Vale agreed to sell a stake in logistics company VLI SA to Canadian firm Brookfield Asset Management in a deal valued at BRL2 billion ($842.78 million).
Taminco Corp, the world's largest alkylamines and alkylamine derivatives producer, said it had agreed to acquire the formic acid business of Finland-based chemicals firm Kemira.
Shares of Hyundai Merchant Marine jumped the most among shares of Hyundai Group companies following the conglomerate's announcement that it will sell assets to raise $3.1 billion to repay bonds due in two years.
Claude Resources has agreed to sell its Madsen Gold Project to Laurentian Goldfields for about C$9 million in cash. Claude will also receive shares representing 19.9% shares outstanding in Laurentian as part of the deal.
Southwire Co., one of the biggest electrical wire and cable makers in the US, has agreed to takeover smaller rival Coleman Cable for $492 million in cash. Southwire will also assume Coleman's debt, bringing the deal size to about $786 million.
Constar International Holdings, which lost its contract with PepsiCo last year, filed for its third bankruptcy since 2008. Constar filed for Chapter 11 protection as it hopes to nail down its sale to Amcor Rigid Plastics USA.
Australia-based international packaging giant Amcor has agreed to buy Constar International Holdings' US assets for an unconfirmed sum, in a court-supervised transaction under the US Bankruptcy Code.
