Virtual currencies are all the rage these days, with Bitcoin at the lead. A report on The Irish Times examined the other solutions that the digital money could provide.
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American private equity firm KKR & Co LP reportedly agreed to commit USD200 million in Indian injectables manufacturing company Gland Pharma. The deal could put the company's valuation around USD600 million to USD650 million.
The Bitcoin is doomed to fail because it is private money. This was the view expressed by Edward Hadas, the economics editor of Reuters' Breakingviews.
Hong Kong-based Shuanghui International Holdings intends to offer a counter bid for Spanish meat processor Campofrio. Mexican food company Sigma Alimentos earlier offered Campofrio a takeover deal worth EUR695 million.
German bank Deutsche Bank AG is reportedly negotiating the sale of Tilney Investment Management to British private equity firm Permira. Permira has beaten other rival bidders for Tilney, including Brown Shipley & Co.
The wider acceptance of bitcoins reportedly brought its trading value at over the USD 1,000 mark on Mt. Gox, encouraging speculators to grab their share of the virtual currency.
Although Bitcoin and gold are driven by the same demand for alternative currencies, one fared better than the other. Wall Street Journal said investors are rushing to invest in Bitcoin as gold loses its appeal.
New York-based web tools and service maker Betaworks is raising a new USD20 million round of financing to build more useful services, according to the company's Chief Executive Officer.
Golub Capital announced that it provided a USD 193 million one-loan debt facility to Los Angeles-based private equity firm Aurora Capital Group to support its National Technical Systems Inc acquisition.
The accessibility of purchasing and selling Bitcoins via ATMs were popular, that a Robocoin Bitcoin ATM stationed in Vancouver, Canada raked in over 1,500 transactions at more than CAD1 million in 29 days.
