Summit REIT expands portfolio and funding sources. In an announcement, Summit Industrial Income REIT said that it has completed the acquisition of fifteen light industrial properties in several locations, namely Greater Toronto, Moncton in New Brunswick and Edmonton in Alberta.
Investors
Clean Seas Halts Trading
Clean Seas Tuna admits losses asks for trading halt. Troubled aquaculture firm Clean Seas Tuna has opted to halt stock trading at the bourse because of a pending announcement as to capital fundraising plans for the company.
Asian Paints Purchases Sleek Group
Terms on the purchase of Sleek Group by Asian Paints undisclosed. In a recent move, Asian Paints recently purchased 51% of the Sleek Group. This is in pursuit of its exploration of the home improvement market opportunities through the one of the top firms in the modern kitchen space market.
JV Formed for Elder Pharma and Kose Corp
Elder and Kose form joint venture for Indian cosmetic market. Elder Pharmaceuticals has formed a joint venture with Kose Corp of Japan for the manufacturing and sale of cosmetic products in India.
NC2 Media Paid $75M for Lonely Planet
Lonely Planet was sold for Aus$75 million. BBC's commercial arm, BBC Worldwide has decided to sell Lonely Planet, the travel guide business show, to Nashville based media group, NC2.
Latest News
Yahoo to purchase 75% of Dailymotion. One of the Internet world's most popular video websites Dailymotion is now in discussion with Yahoo Inc. This deal, once it pushes through, may become one of the largest ones to date by Yahoo CEO Marissa Mayer since taking over leadership duties last July.
Abu Dhabi's Al Hilal Bank to issue sukuks before end of the year. Al Hilal Bank, the state owned bank of Abu Dhabi, is planning to issue a debut Islamic bond valued at US$500 million to be done in the third quarter of 2013.
CBQ purchases majority stake in Turkish lender Alternatifbank. In a move showing Gulf interests expanding overseas, the Commercial Bank of Qatar has purchased 70.
Diablo Technologies expands funds from angel investors. The Ottawa based manufacturer of memory system interface technology has raised Can$7. 5 million in new financing.
New investors infuse capital for development and growth of Liquid Robotics. Liquid Robotics had raised US$45 Million in financing, specifically Series E financing.
NewsCred has expanded its funding base with new infusion from Mayfield Fund and others to the amount of US$15 million.
US$6 million raised from fund sources for Earlybird. In an announcement, Earlybird Venture Capital announced the completion of US$6 million Series A funding for the first social marketplace focused on fashion, Videdressing.
Armacell bids well below base price set by Investcorp. The sale of Armacell is creating issues as Investocorp's base price could not be reached by the existing bidders.
Affymax's drug recall Ormontys caused decline of the company. Pharmaceutical firm Affymax continued its decline after it fired nearly three fourths of its labor complement and is now in the process of opting for a sale or declaration of bankruptcy.
