Bank of America Merrill Lynch has dropped its offer to advise Turkey's Aselsan on a planned secondary listing. The Turkish defense contractor recently closed a deal with a Chinese firm under US sanctions.
Turkey
Darty exits Turkish business to stem losses
Darty, the third-largest electricals retailer in the European region, had agreed to sell Darty Turkey to eliminate losses in non-core markets. Darty has responded to weak consumer spending and competition from online retailers by exiting its loss-making operations.
Markets are prepared for Fed tapering- FT
As talk about the US Federal Reserve tapering grows, a Financial Times report said markets are now more prepared should a reduction in asset purchases actually become a reality.
Spanish discount grocer DIA in talks to acquire El Arbol for €100 million
Spanish food retailer DIA on Monday said that it is negotiating a possible purchase of supermarket chain El Arbol for €100 million. If the deal goes through, DIA will be the third-biggest grocer in Spain next to Mercadona and Carrefour.
Malaysia Airports eyes GMR Infrastructure's stake in Istanbul airport
Indian airport developer GMR Infrastructure has put up for sale its stake in Istanbul airport Sabiha Gokcen International Airport. Malaysia Airports Holdings, which already owns a 20% stake in the Turkish airport, is looking to buy GMR's 40% holding.
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According to sources interviewed by Bloomberg, private equity firm KKR & Co has hired Goldman Sachs Group Inc to assist them in the sale of UN Ro-Ro Isletmeleri, a Turkish shipping company.
British insurer Aviva Plc and Turkey's Sabanci Holding have mandated Citigroup and HSBC to sell between 20 and 25 percent of Turkish life and pensions joint venture Avivasa Emeklilik & Hayat Sigorta in an initial public offering, two sources told Reuters on Friday.
Sources who were familiar with the deal said the government of Turkey and the regional government of Iraqi Kurdistan inked a deal that would allow building of new infrastructure and cooperation in existing oil and gas resources to turn the latter into an oil and gas powerhouse.
The Corporate Advisory Group of Swiss lender UBS, said three unnamed sources, will be scaling back its team in charge of providing corporate advisory and investment banking services to the ultra-rich in emerging markets including Asia and the Middle East.
Following a nuclear deal reached in Geneva, the European Union has removed the ban on insuring tankers transporting Iranian oil. The EU also agreed to release USD4.2 billion in frozen oil assets and permit Iranian crude exports to continue at its current levels.
Khazanah Nasional Bhd, Malaysia's state investment firm, said its insurance arm has completed the $252 million purchase of a 90 percent stake in Turkish insurer Acibadem Saglik ve Hayat Sigorta.
The following bids, mergers, acquisitions and disposals were reported on Wednesday including BNP Paribas, Facebook, Crocs, VTB Capital and Flybe Group.
Former billionaire Eike Batista would be selling his coal mines in Colombia to Yildirim Holding for USD 450 million.
The European Union and Turkey would be resuming accession talks on November 5 after a three-year postponement.
