In its first acquisition after going public, Australia-based insurance brokering network Steadfast Group Limited has bought a 60% stake in underwriting agency Protecsure Pty Limited.
Investors
GLG Partners Inc agrees on $9 million settlement with regulator for coal mine purchase
GLG Partners, a London-based hedge fund, agreed to settle claims that it overvalued the purchase of a mining asset in 2008 in a deal worth about $9 million, Bloomberg reported.
Thomson Reuters' Lipper data show outflows of US-based stock mutual funds reach $6.51 billion
Data from Thomson Reuters Lipper service showed that investors of US-based stock mutual funds pulled out a total of $6.51 billion in the week ending December 11, Reuters reported.
Mircrosoft-Nokia merger a go after Indian court lifts asset freeze order
Despite releasing the local assets back to Nokia Oyj, the Delhi High Court clarified that the Finnish company will still be liable to any remaining tax bills from the local mobile phone plant that Microsoft will be acquiring.
Jacobs completes merger with Sydney-based Sinclair Knight Merz
US-based professional technical services provider Jacobs Engineering Group Inc announced the completion of its merger with Australia-based firm Sinclair Knight Merz in a deal valued at AU$1.3 billion.
Latest News
Monte dei Paschi di Siena's board has opposed a proposal by its top investor to push back a €3 billion cash call to May next year. Monte Paschi's largest shareholder earlier threatened to vote against the impeding capital increase.
US-based hedge fund Golden Tree Asset Management LP increased its stake in English-language daily newspaper publisher Postmedia Network Canada to 39% in a deal valued at $1.6 million.
The pension funds in Canada were said to have shifted towards private equity in their quest to avoid fees and improve performance to better serve the needs of its retirees, a Businessweek report said.
American International Group is said to be negotiating the sale of International Lease Finance Corp. to Netherlands-based independent aircraft lessor AerCap Holdings NV. In December 2012, AIG agreed to sell as much as 90% stake in ILFC to a Chinese consortium for $4.7 billion.
MBC Properties, the real estate arm of Miller Brothers Co, has bought the Bradford Mall in Pennsylvania and is planning to renovate the place and bring in new tenants.
Private equity firm Round Hill Capital is reportedly nearing a deal to exit fromproperty group Vitus Immobilien to Germany's Deutsche Annington Immobilien. The deal is expected to be worth €1.3 billion.
After a disagreement on the valuation of the home retailer they founded, the Klein family was able to find an exit on Via Varejo after its $1.2 billion stock sale, Bloomberg reported.
Irvine, California-based firm Oculus VR has raised $75 million in a funding round led by venture capital firm Andreessen Horowitz to launch a consumer version of the tech firm's virtual reality goggles.
The government of Ireland has chosen a consortium led by British energy supplier Centrica PLC to acquire the retail unit of its gas utility Bord Gais Energy. Centrica's group will buy the asset for €1.12 billion.
