Jay-Z is divesting ownership with NBA team Brooklyn Nets to become a sports agent. Rap icon and producer Jay-Z has now offered his shareholdings in the National Basketball Association's Brooklyn Nets for sale in order to focus on the growth and development of his sports representation business.
People
Veteran Hired by Andreessen Horowitz
Kenneth Coleman joins Andreessen Horrowitz roster of advisers. Andreessen Horowitz, the venture capital firm has engaged the veteran expertise of Kenneth Coleman as one of its adviser on roster.
Yahoo! to Target Mobile Talent in M&A Spree
Yahoo!, the U.S. biggest Web portal, has engaged the services of private equity veteran Jacqueline Reses as it struggles to reinvent itself and stay relevant.
HG Data Company Names New President
HG Data's new President is Tim Baskerville. In a press release, HG Data Company announced the appointment of Tim Baskerville as President. Since 2011, Baskerville had been on the Board of Directors of HG Data.
Advent International Opens China Office
Private equity firm, Advent International, has opened an office in China, just like other big private equity firms The Carlyle Group CVC and Bain Capital.
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Ackman's handpicked executive has been replaced by the board of JC Penney. William Ackman has bet the ranch that he would be able to overhaul the financial condition of retail giant JC Penney.
The mystery lender who financed Thai billionaire Dhanin Chearavanont's $9.4 billion acquisition of HSBC's 15.6 stake in Ping An Insurance Group Co.,China's second largest insurer, had been named.
Business Secretary Vince Cable wants the three former HBOS plc directors who were responsible for the bank's failure to be stripped of their current board roles and banned them from running a financial company in the future.
OTK Associates LLC, the largest shareholder of Morgans Hotel Group Co. is evaluating all legal rights and remedies over the Morgans' agreements with The Yucaipa Companies.
BRF would be appointing Abilio Diniz as its new chairman. The new chairman of BRF- Brasil Foods SA is billionaire Abilio Diniz. He has said he would guide the country's biggest foodmaker for overseas expansion to boost profit margins.
California Governor Jerry Brown sets off to China as part of his continuing efforts to develop commercial ties with Chinese consumers.
With eyes set on the increasing demands of East Africa's growing middle class, Kenya-based private equity firm Catalyst Principal Partners has started to make investments from its $125 million fund and property ventures.
Investor Carl C. Icahn can be reimbursed of up to $25 million worth of expenses related to his deal work on certain conditions.
Former Hulu board member Peter Chermin offers US$500 million for Hulu. Hulu, the online video streamiong service established in 2007, has received an offer from former News Corp President Peter Chernin.
