Betfair, a UK-based online gambling firm, said it is setting its sights on Italy and the US after retreating from other markets due to tax rates and unfavorable regulations.
Investors
Spotify confirms USD500 million royalty payout this year following USD250 recent funding round
Spotify, a popular music-streaming service, confirmed its receipt of a USD250 million investment in a recent funding and also said it paid around USD500 million in royalties to artists this year.
Portugal raises EUR578M in first IPO of its stake in postal service
Portugal is raising EUR578 million (USD783 million) in the initial public offering of its postal service CTT-Correios de Portugal SA. The Portuguese government is divesting its 70% stake in the mail service.
Online retailer navabi raises EUR10 million in Index Ventures-led Series C investment round
German startup navabi, which sells designer brand clothing online, drew EUR10 million in new Series C funding from institutional investors led by private equity firm Index Ventures.
Sources say KKR will exit Turkish shipping business, hires Goldman Sachs Group Inc for sale
According to sources interviewed by Bloomberg, private equity firm KKR & Co has hired Goldman Sachs Group Inc to assist them in the sale of UN Ro-Ro Isletmeleri, a Turkish shipping company.
Latest News
Dubai property firm DAMAC raised USD348 million in its first trading day in the London Stock Exchange. A week ago, DAMAC reduced the deal size to USD400 million and fixed the final price at USD12.25 per global depositary receipt (GDR).
Negotiations between GAIL India and UK-based Ophir Energy about a possible sale of the latter's stake in Tanzania gas assets are still ongoing. Ophir's earlier share sale deal with Pavilion Energy has been initially seen as a setback in the talks.
Sources interviewed by Bloomberg said Citigroup Inc is planning to give distribution rights to sell its products in Asia to at least two insurance firms.
UK-based multinational publishing and education company Pearson reportedly agreed to buy Brazilian Grupo Multi for GBP440 million in a cash and debt assumption. Grupo Multi provides English language training to over 800,000 students in Brazil.
Seoul-based entertainment agency Wellmade StartM acquired DreamT Entertainment for KRW1.1 billion (USD1.04 million), following a growing trend of mergers and acquisition in the entertainment industry.
Latin America's largest investment bank, Grupo BTG Pactual, has applied with the commercial licensing bureau of Michigan to manage a commodities warehousing business in the US.
Illinois intends to sell USD350 million in general obligation bonds in a sale initially slated on December 12. Illinois legislators are set to vote on a pension reform bill that could save the state around USD160 billion in 30 years.
Cool Japan Fund is looking to invest in TV channels and retail properties in the US and Southeast Asia to promote the country's culture. Cool Japan is backed by the government as well as Japanese companies and is led by a former Carlyle Group executive.
Philippine mall and banking conglomerate SM Investments Corp (SMIC) has purchased five business process outsourcing (BPO) buildings in Bonifacio Global City, Taguig for an undisclosed amount.
