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Mergers and Acquisitions Buyins and Buyouts

  • TOKYO, March 24- Singapore- based fund Effissimo, which has given embattled Toshiba Corp a rare vote of confidence with its purchase of 8 percent stake this month, said on Friday the holding was for pure investment purposes and it expected long-term price gains. The fund, established by former colleagues of Japan's most famous activist investor, Yoshiaki...

  • *Piech's 14.7 pct Porsche SE stake worth around 1 bln euros. BERLIN, March 17- Former Volkswagen chairman Ferdinand Piech is in talks to sell his stake in Porsche SE in a deal that would shake up the ownership structure of the company that controls VW. The families are in negotiations to buy a substantial part of Ferdinand Piech's 14.7 percent stake in Porsche SE,...

  • BERLIN, March 17- Former Volkswagen Chairman Ferdinand Piech is in talks to sell his stake in Porsche SE in a deal that would shake up the ownership structure of the company that controls Volkswagen, the world's largest carmaker. The families are in negotiations for a 14.7 percent stake in Porsche SE, worth around 1 billion euros, to be transferred from Piech to...

  • MILAN— Italian flagship airline Alitalia presented Thursday a new business plan that includes 1 billion euros in cost-cutting in a bid to compete with low-cost carriers. The new plan comes nearly three years after Abu Dhabi carrier Etihad Airlines took a controlling stake in the long-troubled airline. "We have a lot of work to do," Transport Minister Graziano...

  • BRASILIA, March 15- Brazil's federal audit court TCU on Wednesday allowed state-run oil company Petroleo Brasileiro SA to proceed with its divestment program, but required the company to restart the process except for two projects. The decision means that moves by Petrobras, as the company is known, to sell off a controlling stake in its fuels distribution unit...

  • BRASILIA, March 15- Brazil's federal audit court TCU on Wednesday allowed state-run oil company Petroleo Brasileiro SA to proceed with its divestment program, but required the company to restart the process except for two projects. The decision means that moves by Petrobras, as the company is known, to sell off a controlling stake in its fuels distribution unit...

  • TOKYO, March 15- A Japanese state-backed fund may invest in Toshiba Corp's memory chip business as a minority partner- a move that would help the government prevent a sale to bidders it deems risky to national security, sources familiar with the matter said. If the fund, the Innovation Network Corporation of Japan, teamed up with a bidder that would give the suitor a...

  • SAO PAULO, March 14- Construction conglomerate Odebrecht SA is close to announcing the sale of its stake in Rio de Janeiro's international airport to Canada's PSP Investments Inc, a source with direct knowledge of the matter said on Tuesday. The sale of Odebrecht's 60 percent stake in Rio de Janeiro's airport operator RioGaleão is expected to bring a solution...

  • March 14- Investment firms Spectrum Equity and Cressey& Co will acquire a significant stake in Verisys Corporation, a U.S. provider of data and software that help healthcare providers with regulatory compliance, the company said on Tuesday. Verisys' chief executive officer, John Benson, is also investing alongside Spectrum and Cressey, the company said.

  • BOSTON, March 13- Billionaire investor William Ackman walked away from Valeant Pharmaceuticals International Inc on Monday with a loss of more than $3 billion as he sold his entire stake in the struggling drug company after trying to rescue it for some 18 months. Ackman's Pershing Square Capital Management became one of Valeant's biggest investors in 2015...

  • TRENTON, N.J.— Activist investor Bill Ackman has sold his hedge fund's stake in beleaguered drugmaker Valeant Pharmaceuticals International Inc., saying the investment took up a "disproportionately large amount of time and resources." The move announced Monday comes after Valeant's latest disappointing financial results and forecast led a number of...

  • TRENTON, N.J.— New Jersey's largest utility has found a buyer for its stake in a pipeline project that's designed to carry Marcellus Shale natural gas from northern Pennsylvania to New Jersey. The PennEast pipeline said Monday that Spectra Energy Partners has agreed to buy PSEG's 10 percent equity stake in the roughly 120- mile, $1.2 billion pipeline project.

  • *Etisalat may exit Nigeria over debt default. *To meet lenders in Nigeria on Tuesday or Wednesday. DUBAI/ LAGOS, March 13- Abu Dhabi telecoms group Etisalat may sell its stake in Etisalat Nigeria, which has defaulted on a $1.2 billion loan, but wants the company's debt restructured before it does so, two sources told Reuters on Monday.

  • HONG KONG, March 10- Chinese conglomerate HNA Group would like to increase its stake of 3 percent in Germany's Deutsche Bank, two sources with knowledge of the matter told Reuters. Representatives of HNA and Deutsche Bank declined to comment. HNA purchased a 3.04 percent stake in the German lender last month, making it the bank's third-biggest shareholder after...

  • New details of CEFC's attempts to buy a refinery in China come less than three weeks after the little-known Shanghai- based firm announced its first major upstream oil investment, a $900 million deal for a 4 percent stake in an Abu Dhabi oilfield. Chairman Ye Jianmin told a board meeting last July that CEFC aims to become a second Sinopec- China's second-biggest...

  • *Fund worth C $500 mln initially, could rise to C $1 bln. TORONTO, March 9- Canada's major banks and insurers said on Thursday they planned to create a fund to invest up to C $1 billion in small Canadian businesses over the next decade to bolster growth. Victor Dodig, chief executive of Canadian Imperial Bank of Commerce, who was one of the earliest supporters of the...

  • HANOI, March 9- Vietnam's state oil company Petrovietnam Oil Corp plans to sell a 35-40 percent stake to strategic investors and expects to raise at least $270 million, it said on Thursday. The privatization of PV Oil, Vietnam's only crude oil exporter and its second-biggest oil products retailer, has been highly anticipated by investors as the government tries...

  • SAO PAULO, March 8- U.S. buyout firm Advent International Corp has acquired a minority stake in Brazilian online broker Easynvest for an undisclosed sum, the companies said in a statement on Wednesday. Advent is betting on an expected increase in the use of online trading platforms in Brazil, with younger professionals more willing to invest part of their...

  • *Santander to sell 25 pct of Allfunds Bank for 470 mln euros. MADRID/ MILAN, March 7- Spain's Santander and Italy's Intesa Sanpaolo said on Tuesday they had agreed to sell a joint 75 percent stake in mutual fund platform Allfunds Bank for around 1.37 billion euros to funds GIC and Hellman& Friedman. Allfunds is a business-to-business operation which provides...

  • MOSCOW/ ABU DHABI, March 6- The Russia-China Investment Fund and Mubadala, Abu Dhabi's state fund, are considering buying a minority stake in Eurasia Drilling Company, Russia's largest drilling company by meters drilled, three sources close to the talks told Reuters. In 2015, Eurasia Drilling Company delisted its shares from the London Stock Exchange after a...