Protea Group has invested NGN11.13 billion (over USD70 million) for the development of more hotel brands in Nigeria, according to the group's chief executive officer.
Investors
India revives plans stake sale of three firms to raise funds- report
A Bloomberg report cited officials from India's Finance Ministry who said the government plans to sell some of the stakes it holds in ITC Ltd, Axis Bank and Larsen & Toubro in order to gather funds.
EDF, GDF Suez vies to win offshore wind projects in France
France's two largest petroleum and electric utility firms are vying to develop two 500-megawatt wind projects near Le Treport in France. The French government opened the bidding earlier this year to attract investments of about EUR3.5 billion.
Dublin's Amentum Capital divests 25% stake to Tokyo-based investor
Dublin-based aircraft management firm Amentum Capital Ltd has sold a 25% stake in its business to Tokyo-based investor Financial Products Group (FPG)for an undisclosed amount.
Sources say Gap Inc setting eyes on India through joint venture with Arvind Brands
The largest clothing retailer in the US is set to enter the Indian market through a joint venture with Arvind Brands, according to sources interviewed by The Economic Times.
Latest News
Italy's richest man Giovanni Ferrero said that chocolate company Ferrero SpA has no plans to go public or sell out to a bigger rival. Ferrero unveiled his company's vision to expand in Asia and the US in the next decade.
Masdar Clean Energy announced its participation in the USD290-million Jordan Wind Project Company (JWPC), the company's first renewable energy investment outside the United Arab Emirates.
Fullerton, an investment fund run by Singaporean sovereign wealth fund Temasek Holdings, has acquired 5 million shares in Bollywood film distributor Eros International at USD11 apiece.
A report by Vivek Singla of The Economic Times compared the Indian private equity industry to a valiant warrior who is able to penetrate an enemy's circle of defense, but failed because he had no exit plan.
Brazilian oil company OGX is reportedly in talks with bondholders about a USD150 million capital infusion in the struggling firm. OGX previously reported a loss of BRL2.1 billion and filed for bankruptcy with USD4 billion in debt.
US firm Aurelius Capital Management sold its stake in Britain's Co-operative Bank to London hedge fund Perry Capital days after the private life of the bank's former chairman, Reverend Paul Flowers, was exposed.
The central bank of Brazil said the country's monetary policy stands to be compromised if the Supreme Court rules against the nation's largest lenders for implementing government rules to fight hyperinflation in the past.
The exit of private equity from their investments in contract research organizations (CROs) could threaten its growth, says two financial experts at Partnerships in Clinical Trials.
Veolia Environnement announced that the purchase of the 50% stake of Fomento de Construcciones y Contratas (FCC) in Proactiva Medio Ambiente has been closed in a deal valued at EUR150 million.
