The following bids, mergers, acquisitions and disposals were reported on Wednesday including Sinopec, Apache, AMR, US Airways, Deutsche Bank, EDF, Oxford, Andor, Bank Zachodni WBK, Shuanghui, Campofrio, OCZ, Toshiba and CVS Caremark.
United Arab Emirates
IPOs in MENA set for a revival with improvement of capital market conditions- report
A revival in public listings is set to take place in the Middle East and North Africa or MENA with the improvement in capital markets conditions, a report in Gulf Business said.
Dubai state fund acquires Atlantis hotel for undisclosed sum
Dubai state fund Investment Corp of Dubai (ICD) announced on Thursday that it has purchased the Atlantis hotel from a Dubai World unit for an undisclosed amount.
Ryanair won't take part in Alitalia cash call
Ireland's Ryanair on Tuesday announced that it won't participate in Italian airline Alitalia's EUR300 million emergency cash call. Other carriers including Lufthansa, Etihad Airways, Aeroflot and Alitalia shareholder Air France-KLM have also turned down the deal.
DAMAC raises USD348 million in London listing debut
Dubai property firm DAMAC raised USD348 million in its first trading day in the London Stock Exchange. A week ago, DAMAC reduced the deal size to USD400 million and fixed the final price at USD12.25 per global depositary receipt (GDR).
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Sources were cited by Bloomberg who said Damac Real Estate Development Ltd will be repricing its price per global depositary receipt at the lower end of its pricing range, effectively reducing the size of its IPO.
A US district court has rejected Citigroup Inc.'s injunction barring Abu Dhabi Investment Authority (ADIA) from seeking a secondary arbitration over its USD7.5 billion investment in the then-beleaguered bank.
The following bids, mergers, acquisitions and disposals were reported on Monday including Greece banking, Fiat, BOFA, Mechel, Saputo, RBS, Lohmann, Carlyle Group, Monte dei Paschi di Siena, Kuwait Airways, Dubai Holding, SunEdison, Blackstone, Greece National Bank, IMG Worldwide, KKR, Babcock, AMR, Orrick, BAC and Fisker Automotive.
Although Dubai seemed to have recovered from the 2009 debt crisis it experienced in 2009, it needs to sell some of its assets, including Mauser, to repay some USD50 million in debt, according to sources who told Reuters.
HarbourVest Partners and Dubai-based private equity firm Lagoon Capital have teamed up to scout for secondary market private equity deals in the Middle East and North Africa.
Abu Dhabi-based investment firm, The National Investor (TNI), has appointed a new chief executive officer to replace Orhan Osmansoy, who resigned after nine years at the helm, the company said in a statement on Sunday.
Matteo Stefanel, a senior partner at emerging markets-focused private equity firm Abraaj Group, has left the company, two banking and industry sources aware of the matter said.
American asset management firm Oaktree Capital Group was reportedly among the cornerstone investors in China Cinda Asset Management Corp's initial public offering. China Cinda is expected to launch the Hong Kong listing on Monday.
US-based crowd-shipping mobile app Friendshippr closed USD670,000 in funding from angel investors in Dubai to connect consumers to Facebook friends who will help transport items for them.
