Spanish multinational oil firm CEPSA bought Canadian Coastal Energy Co. for CAD2.3 billion (USD2.21 million) including debt. CEPSA will pay CAD19 per Coastal Energy share in cash.
Institutional investors
IntelligenceBank closes USD2 million in seed funding
Melbourne-based tech startup IntelligenceBank raised USD2 million in a seed funding round led by local investment firm KOTJ. The funds will be used for the company's market and workforce expansion.
Sterling Partners buys Innotrac for USD106.6 million in cash
Georgia-based eCommerce technology company Innotrac announced that will be acquired by investment firm Sterling Partners for USD106.6 million in cash. The deal would make Innotrac a privately-held company.
TriArtisan Partners leads bid for CKE Inc
TriArtisan Capital Partners emerged as the top bidder for California-based restaurant operator CKE Inc in a deal valued at almost USD2 billion, according to sources familiar with the situation.
DSM spins off pharmaceutical unit for USD2.6 billion
Netherland's DSM said it would spin off its pharmaceuticals division to private equity firm JLL Partners for USD2.6 billion. The post-spin off company would be developing and manufacturing drugs under contract.
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Singapore's Ascendas Pte Ltd. on Tuesday said it would raise SGD600 million (USD481.6 million) to invest in real estate in India. Singapore's sovereign wealth fund, GIC Pte Ltd. would be a principal investor in Ascenda's fund.
As the value of the Bitcoin reached a landmark USD700 valuation, The US Senate committee held a hearing with experts, lobbyists and federal regulators to discuss about the potential threats, risks and benefits of virtual currency.
American private equity firm Blackstone Group and its affiliate Panchshil Realty acquired a 49% stake in Express Towers for INR 900 crore. The yield-generating asset was previously held by the Indian Express Group and ICICI Venture.
Young technology companies were now looking for high valuations, according to a report from The New York Times Dealbook. Dropbox is the latest among them.
France-based black car service provider LeCab raised USD6.8 million (EUR5 million) in a Series B funding round from undisclosed investors, to be used for the expansion of the company's service and manpower.
New York-based startup LightSail Education received USD3.5 million in a Series A funding round led by Viceroy Capital Advisors for marketing an app that helps improve students' literacy.
North Carolina-based payments platform Spreedly secured an additional USD500,000 in seed funding from Belgian angel investors group Emerge.be to be used for product development and hiring of additional staff.
San Francisco-based Dropbox said that it targets to raise USD250 million in its third funding round. If successful, this would give the web storage company a valuation of more than USD8 billion.
Vertical ecommerce portals or retailers that sell only one category of healthcare products are getting the support of investors, according to a report on The Economic Times.
