Air Asia continues its expansion plans in South East Asia. AirAsia's subsidiary in the Philippines has decided to purchase 49 percent of Zest Airways as their initial step in expanding their business into the Philippines.
Industrials
ARA to Increase Assets through Property Fund Boost
ARA to go on acquisitions spree to boost private equity funding. The manager of real estate trusts owned in part by billionaire Li Ka-shing is planning to double its asset portfolio in the next five years.
Goldman Hired to Sell RWE Unit
RWE to sell its oil and gas unit with the help of Goldman Sachs. The second largest utilities provider in Germany, RWE has engaged the services of Goldman Sachs to oversee the sale DEA, its oil and gas exploration unit.
Mary Schapiro to GE Board
GE nominates Schapiro to its Board. General Electric Co has nominated former chairman of the US Securities and Exchange Commission to its Board of Directors.
US Bank Tower to be Purchased
US Bank Tower, the building blown up in the movie "Independence Day", is to be purchased by overseas investors.
Latest News
Directors hope to reap same success in Mozambique project. Three major executives that took part in the creation and sale of Cove Energy Plc have come together again to raise funds for an oil and gas exploration project in Mozambique.
Walter Energy set to sell assets and cut budget for 2013. In the middle of a disagreement with a British investor who is calling for the replacement of majority of the board members, Walter Energy Inc mentioned plans of shutting down mines that are not generating income.
E.ON still on its plan to divest non-performing assets. The largest utilities service provider in Germany E. ON has denied reports that it would spin off its renewable energy unit in order to reduce outstanding debt of in its balance sheet.
KKR buys Gardner Denver for US$3.74 billion. Gardner Denver Inc had agreed to be sold to KKR and Co LP for the price of US$3. 74 billion. Industry experts though still have lingering doubts as to the valuation of the company as it was undeevalued because of the sale.
Based on a TV news report, Jet Airways shares jumped as Etihad supposedly would purchase 13% interest.
Xstrata CEO to set up private mining fund when he leaves company after Glencore takeover. After Glencore International takes over Xstrata Plc, former top management of Xstrata are planning their next move.
Shareholders respond to call for more funds for Talvivaara. Talvivaara, the nickel mining company from Finland has asked its shareholders for Eur261 million to pay for the cost of keeping the mine running in light of its penalties from a waste water leak incident.
Pantaloon has agreed to shed off its 22.5% in a life insurance venture it has with Italian Assicurazioni Generali.
Klaus-Michael Kuehne,Hapag-Lloyd's co-owwner,told that the company and its merger partner Hamburg-Sued will be having equal rights for the combined company.
