Global Financial Integrity, a Washington-based group that tracks illicit financial flows from developing countries, reveals that nearly $1 trillion were lost to illicit transactions in 2011.
Sectors
Freedom Group to raise $175 million from Wall Street lenders
American firearms maker Freedom Group plans to raise $175 million from Wall Street financial institutions, according to a Reuters report. Cerberus Capital Management, which tried to exit the company last year, earlier opted for a $200 million mezzanine debt to pay off Freedom Group's investors.
Centerbridge Partners to take over LightSquared for $3.3 billion
Private equity firm Centerbridge Partners will pay $3.3 billion and assume about $1.7 billion in debt should it acquire bankrupt telecommunications company LightSquared Inc. Centerbridge and LightSquared were said to have reached a tentative takeover deal.
Celesio's board recommends McKesson's $8.3 billion takeover offer
Celesio's supervisory and management board on Wednesday recommended shareholders to approve the $8.3 billion buyout offer from US drug distributor McKesson Corp. Elliott Management Corp, one of Celesio's shareholders, earlier refused McKesson's offer.
Pearson fund invests in India-based education startup
UK-based investment fund Pearson Affordable Learning Fund has backed Delhi-based education startup Avanti Learning Centres to develop a system that will help students from low-income families prepare for college entrance tests.
Latest News
San Francisco-based mobile game business engine Playhaven and mobile analytics firm Kontagent have decided to merge in an all-stock deal is said to be worth hundreds of millions of dollars.
Manhattan-based private equity and investment firm Wasserstein & Co completed its $340-million purchase of Hauppauge-based satellite communications systems provider Globecomm Systems.
The New York Times said private equity investors of Oriental Brewery in South Korea could stand to gain a 34% annualized return on their original investment of the brewery.
Canada Pension Plan Investment Board, one the country's top pension funds, has purchased a 15% stake in Orpea. CPPIB paid €320.8 million for the minority stake in the French nursing home company.
US-based mobile payments company Square has made its second acquisition in a week with the purchase of Evenly, an app that helps users share expenses, in a deal with undisclosed financial terms.
Credit ratings agency Moody's Corp has acquired Amba Investment Services for an undisclosed amount. The Economic Times reported the purchase highlighted an appetite for big data and knowledge outsourcing firms.
Hengdeli Holdings will be acquiring control of Shenzhen Feierpusi Electronics Co, which owns an 88.6% stake in a watch retailer in Nanchang.
San Francisco-based smart kitchen company The Orange Chef has received $1.2 million in funding from Google Ventures and Sparklabs Global Ventures to develop more connected kitchen devices.
San Francsico-based sales analytics startup ToutApp received $3.35 million in funding from Sigma West Ventures to optimize email communication and add more employees to its team.
