Russia's No. 2 oil producer Lukoil is looking to put up for sale its 20% stake in a Russian consortium developing a large oil project in Venezuela. Lukoil is in talks with international players after Rosneft offered a price lower than what Lukoil had asked.
Industrials
Sipchem, Sahara inks deal to form SAR6.7 billion petrochem giant
Saudi International Petrochemical Company and Sahara Petrochemical Company agreed to start due diligence over a planned merger deal. The deal is reportedly worth SAR6.67 billion.
IFC mulls over second rupee bond sale
The International Finance Corporation is looking to sell rupee-denominated bonds for the second time. The World Bank investment arm raised INR1,000 crore in its first rupee-bond issue.
Astronics announces completion of USD31.2 million acquisition of PGA Electronic
Global aerospace and defense industries Astronics Corporation said today in a statement that it has completed its acquisition of France-based PGA Electronic for a final price of USD31.2 million.
Carlyle prepares for $3B exit of specialty chemicals business PQ
Private equity firm Carlyle Group is mulling over an initial public offering or an outright sale of inorganic specialty chemicals producer PQ Corp. Sources said that the proposed deal could bring in USD3 billion.
Latest News
Queensland-based coal mining company Carabella Resources Ltd received a hostile bid from private Chinese firm Wealth Mining, which already owns an 11.06% stake in the Australian mining firm.
Beijing Interoceanic Canal Investment Management Co announced the joint venture of billionaire Wang Jing and Ukrainian partner Kievgidroinvest LLC to construct an economic development zone and port on the Crimean peninsula.
Total, Europe's third-biggest oil company, will purchase a 61.3% stake in InterOil Corp.'s liquified natural gas project in Papua New Guinea. The acquisition deal is worth USD3.6 billion.
Vale SA, the world's largest iron-ore producer is considering to sell its holdings in its coal and fertilizer divisions. The Brazilian mining giant is also looking to sell its stake in a steel-slab plant constructed with Germany's ThyssenKrupp AG.
Multinational conglomerate General Electric Co. intends to proceed with its project to construct a manufacturing site near a port in Rio de Janeiro. The port is being built by LLX Logistica, which was formerly run by Brazilian petroleum titan Eike Batista.
New Orleans-based offshore service vessels provider Tidewater Inc is investing USD30 million to start its subsea operations business, Tidewater Subsea, located in the Gulf of Mexico.
A boom in Chinese internet stocks helped propel San Francisco-based hedge fund to double digit gains this year when other hedge funds have given dull returns, according to a Reuters report.
French building materials business Materis is reportedly in an advanced stage of negotiations to sell its business unit Kerneos. Investment firm Astorg Partners will acquire Kerneos for EUR610 million.
Glencore Xtrata PLC, led by its chief executive officer Ivan Glasenberg, will be committing more capital in thermal coal than rivals BHP Billiton Ltd., Rio Tinto Group and Anglo American PLC.
