In its bid to improve the growth of the company overall, Dubai conglomerate Al Habtoor Group had commissioned a shakeup of its boards across all of its business units, including its legal and audit boards.
Sectors
Caddo agency purchases former GM plant in Louisiana
The officials of Caddo Parish's Industrial Development Board closed the deal on Friday afternoon to acquire the former General Motors (GM) facility from RACER Trust for $7.5 million.
UK government could sell off remaining Lloyds stake in 2014 -sources
The UK government could sell off its remaining 33% stake in Lloyds Banking Group next year to complete the privatization of the lender, according to sources familiar with the process.
US distressed debt investors eye leveraged buyouts in Europe
The leveraged buyouts in Europe are surging as US distress investors purchase existing bank loans at steep discounts and move to take over the companies by exchanging their debt for equity in "loan-to-own" deals in the wake of the financial crisis.
Qatar energy firm GIS to buy out Japan partner with 30% stake acquisition
Qatar-based oil and gas drilling company Gulf Drilling International (GDI) is poised to become a wholly-owned subsidiary of Gulf International Services (GIS) with the latter acquiring the entire 30% stake held by Japan Drilling Corp (JDC), according to a GIS spokesman.
Latest News
The DealBook said in its report that banks in China are steadily making strategic acquisitions offshore and opening its businesses outside of the mainland, thanks to recent economic reforms.
Angel funding in Russian companies were 4.5 times more than funding from angel investors in 2012, according to a joint study by National Association of Business Angels (NABA), Atom Partners and RVC.
The American Bankers Association, a representative of majority of the community banks in the US, said the provision on banning investments in collateralized debt obligations will result to the lenders losing $600 million in the process.
Shareholders of Banca Monte dei Paschi di Siena SpA reportedly sided with main shareholder Fondazione Monte Paschi with regard to postponing the cash call until May of next year.
A Reuters report said Alessandro Profumo, chairman of Monte dei Paschi di Siena, will be revealing his decision whether to stay or resign from his post at the Italian lender in a January meeting.
European Central Bank President Mario Draghi was quoted by German news magazine Spiegel in an interview that there is no need to hurry to reduce the Euro Zone's main interest rate further.
While US and foreign banks do away with risky investments like municipal bonds, hedge funds had taken advantage with the loss of a competitor and increased their positions in such assets, a Barron's report said.
The general consensus of research firms and mergers and acquisitions (M&A) experts believed that the brisk activity of dealmaking will keep its momentum till the next year.
Research firm CB Insights revealed in its latest report that IPO activity will most likely be the most active in the technology sector as over 500 companies have healthy trajectories and high valuations.
