Sony Entertainment sought the advice of consultancy firm Bain & Company to help identify more than USD100 million in cost cuts. The Japanese conglomerate reportedly suffered a USD181 million operating loss in the second quarter.
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Top deals of the day - Bids, Mergers and Acquisitions
The following bids, mergers, acquisitions and disposals were reported on Tuesday including Nokia, IntercontinentalExchange Group, Goldman Sachs and others.
American Securities acquires Tekni-Plex for an undisclosed amount
Tekni-Plex, one of the largest specialty plastic films makers in North America, was acquired by private equity firm American Securities from two other private equity firms who had majority ownership stakes in Tekni-Plex for the last five years.
Aberdeen to take on US asset managers after SWIP acquisition
UK-based Aberdeen Asset Management revealed its plan to take away businesses from US investment managers such as BlackRock and Vanguard after completing the acquisition of Scottish Widows Investment Partnership (SWIP).
Payments platform Spreedly raises additional USD500,000 in seed funding
North Carolina-based payments platform Spreedly secured an additional USD500,000 in seed funding from Belgian angel investors group Emerge.be to be used for product development and hiring of additional staff.
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Texas-based marketing startup Hiplogiq raised USD7 million in a Series B funding round from Hadron Global Partners, to be used for the company's growth, expansion, and product promotion.
California-based network solutions innovator Talari Networks Inc secured USD15 million in a Series D funding round led by Four Rivers Group to be used for the company's growth and bridge loans payment.
Maryland-based health care lender MidCap Financial LLC was acquired by an entity managed by alternative asset manager Apollo Global Management LLC for an undisclosed amount.
The following bids, mergers, acquisitions and disposals were reported on Monday including Forbes, Axel Springer, MidCap Financial LLC, Goldman Sachs and others.
Sources who were familiar with the proceedings said the bidding group who planned to buy the aircraft-leasing unit of American International Group Inc would be welcoming Chinese financier Xiao Jianhua and Taiwanese tycoon Richard Tsai as its additional partners.
Private equity company RRJ Capital said it has already began to market its Asian real estate fund which will focus on China. RRJ Capital is looking to raise USD 1 billion for the fund.
Newcastle Airport Authority Ltd was reportedly planning to sell half its stake to infrastructure investors such as IFM Investors Ltd and other superannuation funds next year.
Private equity firm Boyu Capital has experienced the pressure that the delay in the long-awaited initial public offering of Chinese e-commerce giant Alibaba has caused.
Washington-based private equity firm Carlyle Group LP expressed its interest on bolt-on acquisitions in Malaysia, citing its very good experience with the acquisition of Davex Holdings Bhd last year.
