In a proof of expansion, OPKO Health has acquired Prolor Biotech reportedly for US$480 million. OPKO Health Inc has announced that it would purchasing Prolor Biotech Inc, the biopharmaceutical ecompany from Israel through an all-stock deal that is estimated to be worth US$480 million.
Investors
IFC Provides Loan Facility for Acme Solar Energy
IFC has forged a US$50 million credit facility for Acme Solar Energy projects. The World Bank's private sector finance arm, the International Finance Corp, has plans to loan as much as US$50 million to an Indian solar power developer in order to finance the building and operation of key power projects.
ICE Purchase of NYSE Euronext to be Reviewed
ICE's acquisition of NYSE Euronext would be reviewed by the EU competition regulator. The US$8. 2 billion purchase by Intercontinental Exchange of NYSE Euronext would be examined by European Union antitrust regulators.
Altor Sells Euro Cater to Consortium
Altor sells Euro Cater to consortium led by Intermediate Capital Group Plc. Altor, the private equity firm from Sweden said that it has entered into an agreement to sell its shareholdings in Euro Cater, the food services company from Denmark.
Coop Group Pulls Out of Lloyd's Banking deal
Coop Group cancels deal with Lloyds on the sale of the Verde Network. The Lloyd's Banking Group planned the sale of over 600 bank branches of the Cooperative Group, which has fell apart after the Cooperative Group decided not to proceed with the GBP750 million deal.
Latest News
Singapore Airlines increases shareholdings from 10% to 19.9% worth Aus$123 million. Singapore Airlines Ltd has increased its shareholdings in Virgin Australia Holdings Ltd from 10% to 19.
Etisalat joins the Maroc Telecom shares race with an expression of interest. The Emirates Telecommunications Corp or ETISALAT has expressed interest in acquiring the 53% shareholdings of Vivendi SA in Maroc Telecom.
Kier Group Plc acquires May Gurney for an estimated GBP221 million. The UK company instrumental in the completion of the Channel Tunnel rail link, Kier Group Plc, has entered into an agreement to purchase May Gurney Integrated Services Plc.
GDC Technology to issue an IPO worth US$100 million in the United States, the biggest for a Chinese firm in the past two years.
PPR SA purchase Pomellato for an undisclosed amount. The French owner of Gucci and Puma SE, PPR SA has recently announced it would be purchasing a majority stake in Pomellato of Italy from RA.
VTB, Russia's second largest bank is undertaking an IPO worth nearly 100 billion roubles. Russia's second largest financial institution, VTB, is now undertaking plans to meet potential investors from all over the world in preparation for the issuance of new shares.
KazMunaiGas are preparing two tranches of Eurobond issues each with a nominal value of US$200 million.
Billabong has sought extension of discussions with Sycamore Partners and its former director for the proposed takeover.
Clearwire shareholders to meet and approve Sprint Nextel offer of US$2.97 per share. Clearwire Corp is scheduling a shareholder meeting on May 21 to obtain a decision regarding the offer made by Sprint-Nextel for US$2.
