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Mergers and Acquisitions Buyins and Buyouts

  • 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...

  • *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...

  • *Fundraising would buy time ahead of planned IPO in China. HONG KONG, March 6- Zhong An Online Property and Casualty Insurance plans to sell 5-10 percent of the company to a couple of strategic investors, to raise up to 10 billion yuan, ahead of a planned initial public offering in mainland China, according to four people with direct knowledge of the matter.

  • SEOUL, March 6- South Korean memory chip maker SK Hynix Inc said on Monday it has received information from Toshiba Corp about new plans for the Japanese firm's plan to sell a stake in its memory chip business. SK Hynix in February submitted a bid for a minority stake in Toshiba's memory chip business, the world's No. 2 maker of NAND chips used for long-term data...

  • ZURICH, March 3- Credit Suisse has hired an investor relations manager for its Swiss entity, a bank spokesman said on Friday, as it moves ahead with plans to spin off a minority stake in its domestic bank. The move comes amid uncertainty over whether the partial initial public offering of Credit Suisse AG will go ahead as planned. Credit Suisse announced plans in...

  • Isuzu also markets commercial and light commercial vehicles in South Africa and Saudi Arabia. Sales in the Middle East and Africa region account for around 20 percent of annual global vehicle sales. Under Chief Executive Mary Barra, GM is steadily overhauling and pruning operations outside the United States and China, shrinking sales volume while pushing to...

  • Under Chief Executive Mary Barra, the Detroit automaker is steadily overhauling and pruning operations outside the United States and China, shrinking sales volume while pushing to improve return on invested capital and profitability. GM is in talks to sell its European operations to French automaker Peugeot SA, and has shuttered or scaled back operations...

  • JOHANNESBURG, Feb 28- South Africa's Nedbank booked a $293 million writedown on the value of its stake in sub-Saharan lender Ecobank on Tuesday and reported its slowest growth in annual profit since 2009.. Ecobank Transnational Inc's operations in central and west Africa are exposed to some economies that have been pressured by the commodity price slide and...

  • TOKYO/ TAIPEI, Feb 24- Japan's Softbank Group and Taiwan's Foxconn will soon begin operating a joint venture that deepens ties between two of Asia's biggest technology companies, they said on Friday. The move will give Foxconn, formally known as Hon Hai Precision Industry Co, a 54.5 percent stake in one of Softbank's existing subsidiaries for $600 million and...

  • BERLIN, Feb 22- Swedish investment company Kinnevik said on Wednesday it is selling at least half of its 13 percent stake in German e-commerce investor Rocket Internet. Kinnevik said in a statement it planned to sell 10.9 million shares via a placing but it reserved the right to increase that amount. However, some investors have become concerned over heavy...

  • *Potential buyers to be tapped in India, Japan, Middle East. SINGAPORE/ NEW DELHI/ BEIJING, Feb 21- China's Sinochem is exploring the sale of its 40 percent stake in Brazil's Peregrino offshore oilfield, four people familiar with the matter told Reuters, a deal that could see the state-owned conglomerate walk away from what was once touted as a key overseas asset...

  • *Potential buyers to be tapped in India, Japan, Middle East. SINGAPORE/ NEW DELHI/ BEIJING, Feb 21- China's Sinochem is exploring the sale of its 40 percent stake in Brazil's Peregrino offshore oilfield, four people familiar with the matter told Reuters, a deal that could see the state-owned conglomerate walk away what was once touted as a key overseas asset because...

  • *Toshiba want to complete sale by end of March 2018- source. TOKYO, Feb 21- Toshiba Corp wants to raise at least 1 trillion yen from the sale of a majority stake in its flash memory chip business as a buffer against any fresh financial problems, a source with direct knowledge of the matter said. After flagging a $6.3 billion writedown on its U.S. nuclear unit earlier this...