Auction house Christie's said the value of the 2,781 works collection fully and partially-owned by the Detroit Institute of Arts (DIA) was around the USD452 million to USD866 million range.
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UK investor Vitruvian raises USD1.6 billion in fundraising for second fund
UK-based independent private equity firm Vitruvian Partners closed USD1.6 billion (EUR1.2 billion) in a fundraising round for its second fund, the Vitruvian Investment Partnership II (VIP II).
BNP Paribas says it will purchase Polish unit of Rabobank Groep in EUR 1 billion deal
BNP Paribas, the largest bank in France, said it will be buying Bank Gospodarki Zywnosciowej, the Polish arm of Dutch bank Rabobank Groep, for EUR 1 billion.
AT&T to take on T-Mobile for control over Verizon's spectrum block
AT&T will be up against smaller rival T-Mobile should the former decide to offer a bid for Verizon Wireless' spectrum block. Verizon, which bought the asset for USD2.4 billion, is seeking to generate USD2.75 billion from the sale.
Colorado-based firm CSG International acquires Volubill key assets
Colorado firm CSG has bought the key assets of mobile and broadband policy and charging solutions provider Volubill in a deal that will help CSG expand its market reach.
Latest News
Swiss bank UBS Ag said Ulrich Koerner will be replacing John Fraser as Head of Global Asset Management. Fraser is set to retire by the end of month.
The Chinese government on Thursday cleared the USD1.3 billion car-making joint venture between Dongfeng Motor Group and France's Renault. Under the deal, the two companies will manufacture 150,000 multi-purpose vehicles annually.
Despite the rally posted by Sears Holding Corp on the stock exchange this year, which made it one of the best performers of the US listed stocks held by hedge fund ESL Partners, a Bloomberg report said some of the investors of hedge fund were not happy about it at all.
Australia-based news firm APN News & Media has agreed to exit from its remaining stake in outdoor advertising company APN outdoor for USD69 million, prompting a 5% increase in its shares.
International law company Eversheds expands in Africa through partnerships with Mahons Attorneys in South Africa and El Heni in Tunisia. Both firms will be rebranded as Eversheds.
India-based mobile operator Bharti Airtel has raised EUR750 million in a bond issue that received bids worth EUR3.8 billion. The bond issue aimed to refinance the company's existing debt.
According to a slew of venture capitalists at a book panel for Georgetown Angels general partner Andrew Romans' new book, the amount of funding new startups could secure depends on its networks.
A report from The Wall Street Journal said more and more entrepreneurs and young companies were taking part in test runs at the state level for new federal rules regarding equity crowdfunding.
General Motors (GM) is investing USD11 million to build a new source of energy for its Fort Wayne Assembly Plant, a move that will save the company USD5 million a year.
