Power Assets Holdings Ltd. will spin off its subsidiary Hongkong Electric Company Ltd. to HK Electric Investments, a single-investment trust. Power Assets was said to be aiming for a HK Electric Investments listing early next year to raise $5.7 billion.
Sectors
Aurizon Holdings plans to complete joint venture with GVK in mid-2014- report
Aurizon Holdings Ltd intends to complete a joint venture agreement with GVK Group for the building of a railroad project by the middle of next year, Bloomberg reported.
Pharmaceutical firms introduce new drugs but encounter selling difficulties- report
After lackluster activity in the past years, pharmaceutical firms have gotten back to producing new drugs but they encounter challenges in selling them, according to a report on The Wall Street Journal.
Sports bar and pub operator Fox & Hound files for bankruptcy
Sports bar and pub operator Fox & Hound filed for bankruptcy protection in order to run a streamlined sales process for all of its assets. F&H Acquisition Corp., Fox & Hound's parent, listed out assets and liabilities between $100 million and $500 million.
BlackRock insists it complied with Italian disclosure rules on Telecom Italia stake
A report by Bloomberg read that New York-based investment firm BlackRock said it complied with disclosure rules in its Telecom Italia stake after a watchdog said in a newspaper interview that the firm may have not followed rules when it did not report an increase in its stake in the telecommunications firm..
Latest News
The Japan International Cooperation Agency (JICA) will pour in $2 million in three projects aimed at reviving the degraded Anzali lagoon in Iran, according to an environment official cited by IRNA new agency.
India-based power firm NSL Renewable Power Private Limited (NSL Power) is said to have plans to pour in $45 million to build new wind farms in Maharashtra through a special purpose vehicle called Jath Wind Energy Private Limited.
Christie's International Plc is said to be conducting its first auction of artworks in Indian soil, and will highlight modern master Tyeb Mehta's (1925-2009) work entitled "Mahishasura."
Gottex Fund Management Holdings on Monday announced that it is purchasing Swiss hedge fund EIM Group for $35.4 million in stocks. EIM shareholders will own 30% of the merged group, while Gottex owners will own the remaining 70% stake in the company.
French retailer Carrefour agreed to acquire a total of 27 shopping malls in Europe worth €2 billion or $2.75 billion from Klepierre, a Bloomberg report said.
Sources told the Wall Street Journal that BlackBerry's executive vice president of global sales and official in charge of its mergers and acquisitions strategy will be departing the struggling smartphone maker in weeks.
California, US-based software developing company Accelrys has acquired Ireland-based software business Qumas in a deal valued at $50 million to expand its products expansion and client base.
A report noted that speculators who are looking to acquire Bitcoins by selling sex through certain Reddit subsections are rising at an alarming rate.
Workers in Amazon.com's logistic centers in the German towns of Bad Hersfled, Leipzig and Graben are prepared to go on strike on Monday. A dispute over pay has been plaguing the online retail company for months.
