Kodak gets flexible financing and reorganization plans as it prepares to come out of bankruptcy. The bankrupt photography icon Eastman Kodak Inc was allowed to amend its financing deal in order to become more financially flexible as it girds to exit Chapter 11 bankruptcy protection.
Sectors
Hochtief to Sell Services Division
Hochtief gets many offers for its services division. Hochtief, the German construction group would be selling its services division. It is expecting the sale to net Eur170 million according to a report by a German magazine.
Arabtec's New Executive Says No Increased Aabar Stake
The new chief executive of Arabtec said that there are no attempts made by Aabar to increase shares in the investment fund.
Alfa Group to Put up Consortium for Vodka Maker
A1 putting together consortium with two of the major stockholders of CEDC. A1, the venture capital unit of the Alfa Group has formally notified the committee of holders of CEDC notes that it is putting together a plan to restructure Central European Distribution Corp.
Royalty Pharma Offers US$6.6Bln Offer for Elan
Royalty Pharma offers US$11 per Elan share. While Elan is in the process of selling its fifty percent share in the successful multiple scelerosis drug Tysabri with its US partner Biogen Idec, here comes American investment firm Royalty Pharma offering US6.
Latest News
Wynn faces another suit for the cash donation to University. The Board of Directors of Wynn Resorts Ltd and its owner, billionaire hotelier Steve Wynn is now facing another shareholder lawsuit alleging that US$135 million donation to the University of Macau had wasted company assets and was in breach of its fiduciary duties.
Blackstone, Apollo and KKR lead payouts to chief executives after banner 2012 year. Co-founder and CEO of the Blackstone Group Steven Shwarzman, according to filed papers by the equity firm, received pay and cash dividends amounting to US$213.
Groupon searches for new CEO and expands to ecommerce. After last week's unceremonious termination of Groupon founder Andrew Mason as CEO, Chairman Eric Lefkofsky is now under pressure to turn the fortunes around of the beleaguered company.
Best Buy closes chapter on Schulze takeover bid. With the clock passing on the deadline for the Richard Schulze offer to be filed, Best Buy is now going with the turnaround plan proposed by current CEO Hubert Joly.
Esa Ikaheimonen has been appointed as the new chief financial officer of Transocean Ltd., the largest offshore rig contractor in the world.
A report from newspaper Vedomosti disclosed that Peugeot and ZIL are planning to produce light commercial vehicles in the Russian market.
Sources said that Comark apparel chain is currently on the process to be sold, with an expected amount of up to $400 million based on multiples of other deals in the retail industry.
Hartford posted an amended filing with SEC to correct its results for third quarter in full-year 2012 on internal account error that led to loss instead of a gain.
Iconic Petronas Towers to be a REIT. A restructuring deal struck by KLCC Property Holdings Bhd would transform Malaysia's Petronas Towers into the country's largest real estate investment trust.
