Osaka canceled the sale of Osaka Prefectural Urban Development Co after lawmakers from the local government rejected the winning bidder Lone Star Funds, a source told Bloomberg.
Investors
Valeant to take over Solta Medical for $236 million
Solta Medical Inc. has put up the company for sale amid falling profits and pressure from activist investor Voce Capital Management LLC. California-based Valeant Pharmaceuticals International will buy Solta Medical for $236 million in cash.
BP inks $16 billion tight gas project deal in Oman
Reuters said in its report that Britain's BP PLC has closed a $16 billion deal to develop Oman's Khazzan tight gas project. Construction of the tight gas project is expected to begin next year, while first gas is expected in late 2017.
PassportParking secures $6 million in Series A
PassportParking, a provider of cloud-based parking management solutions, raised $6 million for its Series A funding. The round was led by Grotech Ventures and Relevance Capital.
Discount chain Loehmann's files for bankruptcy
Loehmann's Holdings Inc., a seller of discounted designer goods from brands like Michael Kors and Calvin Klein, has filed for bankruptcy protection in the US Bankruptcy Court in Manhattan.
Latest News
PA Group, the parent company of UK's national news agency Press Association, is to sell its weather unit MeteoGroup to private equity group General Atlantic in a deal valued at £160 million (€190 million).
Spanish food retailer DIA on Monday said that it is negotiating a possible purchase of supermarket chain El Arbol for €100 million. If the deal goes through, DIA will be the third-biggest grocer in Spain next to Mercadona and Carrefour.
Beijing-based supermarket chain Wumart Stores Inc has cancelled its plans to purchase stores and equity shares from its rival C.P. Lotus Corp, but the reasons for the fallout were not elaborated in a report.
Aurizon Holdings Ltd intends to complete a joint venture agreement with GVK Group for the building of a railroad project by the middle of next year, Bloomberg reported.
After lackluster activity in the past years, pharmaceutical firms have gotten back to producing new drugs but they encounter challenges in selling them, according to a report on The Wall Street Journal.
Sports bar and pub operator Fox & Hound filed for bankruptcy protection in order to run a streamlined sales process for all of its assets. F&H Acquisition Corp., Fox & Hound's parent, listed out assets and liabilities between $100 million and $500 million.
A report by Bloomberg read that New York-based investment firm BlackRock said it complied with disclosure rules in its Telecom Italia stake after a watchdog said in a newspaper interview that the firm may have not followed rules when it did not report an increase in its stake in the telecommunications firm..
Hong Kong-based luxury hotel group Shangri-La International Hotel Management has announced that it will invest $115 million for the construction of a new 350-room hotel in Yangon, Myanmar.
A consortium led by private equity firm EQT Partners has acquired a controlling stake in China F&B Group for an undisclosed sum. China F&B operates the Dairy Queen and Papa John's Pizza restaurant chains in China.
