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Buyins and Buyouts

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  • Feb 26- Offshore rig provider Transocean Ltd wrote down the value of its contract drilling business by $992 million in the fourth quarter as demand slumped due to a steep fall in oil prices. Transocean reported net loss of $739 million, or $2.04 per share, attributable to controlling interest for the fourth quarter ended Dec. 31 compared with a profit of $233...

  • TORONTO, Feb 24- Turquoise Hill Resources Ltd on Tuesday agreed to sell the remainder of its stake in SouthGobi Resources, in an attempt to finally sever ties with the Mongolian coal miner that was once worth over C $3 billion. Turquoise Hill, a unit of Rio Tinto, in July agreed to sell the majority of its stake in SouthGobi to Hong Kong- listed National United...

  • PORT ALBERNI, British Columbia, Feb 20- A Canadian aboriginal community that has partnered with Steelhead LNG on a proposed major liquefied natural gas export terminal plans to decide within months whether to take an equity stake in the $30 billion project, one of its leaders said. "In order to be full partners in a business sense, you have to actually be full...

  • Hedge fund Third Point increases stake in Alibaba Friday, 13 Feb 2015 | 5:39 PM ET

    NEW YORK, Feb 13- Hedge fund Third Point increased its stake in Chinese e-commerce site Alibaba during the fourth quarter, according to a regulatory filing late on Friday. Third Point, run by Daniel Loeb, increased its stake in Alibaba by 38.9 percent to 10 million shares. Alibaba's record $25 billion initial public offering was met with great fanfare last year,...

  • ATHENS, Feb 11- Greece's government said on Wednesday it was sticking to plans to halt the sale of its two biggest ports, Piraeus and Thessaloniki, rebuffing reports it was having second thoughts. China's Cosco manages two of Piraeus port's cargo piers and had been shortlisted along with another four suitors as potential buyers of a 67 percent stake in the port...

  • SEOUL/ HONG KONG, Feb 5- The chairman of Hyundai Motor Co and his son on Thursday offered to sell a $1 billion stake in logistics affiliate Hyundai Glovis, a month after a similar attempt failed because investors questioned its rationale. If the entire stake isn't sold, deal manager Citigroup will acquire the remainder, Hyundai Motor said in a statement.

  • Activis CEO: Innovation vs. acquisition   Friday, 30 Jan 2015 | 7:45 AM ET
    Activis CEO:  Innovation vs. acquisition

    Brent Saunders, Actavis CEO, discusses how Actavis is leading the way in growth pharma and talks about its M&A strategy.

  • BEIJING, Jan 29- China is closely monitoring the policies of the new Greek government after Athens said this week it will stop the sale of a majority stake in Greece's biggest port, China's trade ministry said on Thursday. The Greek government last year had shortlisted China's Cosco Group as a potential buyer of a 67 percent stake in Piraeus Port Authority.

  • MADRID, Jan 23- Spanish bank BBVA has agreed to sell a 4.9 percent stake in China's CITIC Bank to property developer Xinhu Zhongbao for HK $13.136 billion as it looks to bolster its capital base. BBVA said on Friday it would book net capital gains of around 400 million euros and strengthen it core capital ratio by 20 basis points after the sale, which is expected to be...

  • DUBAI, Jan 20- National Bank of Kuwait reported a 46.4 percent rise in fourth-quarter net profit on Tuesday, but fell short of analyst forecasts after it failed to book a gain from its sale of a stake in International Bank of Qatar. EFG Hermes had forecast a net profit of 60.2 million dinars in the period, while Global Investment House had forecast 88.3 million...

  • HONG KONG, Jan 16- Standard Chartered's abrupt move to shut its global equities business last week could be a prelude to the lender selling off stakes in a number of Asian banks as it looks to boost capital, people familiar with the lender's thinking said. The most likely potential sale is Standard Chartered's $621 million holding in Agricultural Bank of China...

  • HONG KONG, Jan 14- China's e-commerce giant Alibaba Group Holding Ltd said on Wednesday it had bought a controlling stake in online marketing company AdChina, an investment aimed at bolstering its advertising business. Alibaba did not close the size of the deal or the stake it would take in AdChina, a Shanghai- based firm founded in 2007. The internet marketing...

  • MEXICO CITY, Jan 8- Mexican broadcaster Grupo Televisa on Thursday said it sold its 50 percent stake in cellphone company Iusacell back to its joint-venture partner Grupo Salinas, paving the way for U.S. phone giant AT&T Inc to acquire Mexico's No. 3 phone company. AT&T, which said in November it would buy all of Iusacell from Grupo Salinas, received regulatory...

  • Dec 29- Carl Icahn reported a 7.7 percent stake in Manitowoc Co Inc, and became the second activist investor this year to push for a splitup of the company's crane and foodservice equipment businesses. Manitowoc's shares rose 11 percent to $23.25 before the bell on Monday. Ralph Whitworth's Relational Investors urged the company to spin off the foodservice...

  • Icahn acquires stake in Manitowoc, seeks splitup Monday, 29 Dec 2014 | 6:39 AM ET

    Dec 29- Activist investor Carl Icahn reported a 7.77 percent stake in Manitowoc Co Inc, and said he intended to seek a split of the company's cranes and food-service equipment businesses. Icahn said he would seek board representation, if appropriate. Icahn said he had not yet had any discussions with the company.

  • SAO PAULO, Dec 17- Brazilian billionaire Abilio Diniz agreed to buy a 10 percent stake in Carrefour SA's Brazilian unit, a source with direct knowledge of the situation said on Wednesday, potentially strengthening its ability to take on the supermarket chain Diniz's father founded. Under terms of the deal, Diniz, whose Peninsula Participações holding...

  • Dec 16- Progressive Corp, a provider of auto insurance products, said it would acquire a controlling stake in property insurer ARX Holding Corp for $875 million in cash. Progressive Corp said it would increase its share in the parent of American Strategic Insurance to 67 percent from 5 percent after it buys shares from non-management shareholders.

  • Dec 5- Private equity firm JH Partners has sold its 40 percent stake in jeweler Alex and Ani, according to people familiar with the matter, who added the charm bracelet maker could be worth as much as $1 billion. San Francisco- based JH Partners, which bought the stake in 2012, sold its holding to British buyout firm Lion Capital LLP, three people confirmed this week.

  • LONDON, Dec 4- European pay-TV group Sky has agreed to sell a controlling stake in Sky Bet to CVC Capital Partners in a deal which values the online betting business at 800 million pounds. Sky said the sale would enable it to focus on the growth areas within its pay-TV business, where it has recently expanded into continental Europe with the purchase of Sky Italia...

  • LONDON, Dec 4- Pay-TV group Sky said on Thursday it had agreed to sell a controlling stake in Sky Bet to CVC Capital Partners in a move which values the online betting business at 800 million pounds. Sky, which operates in Britain, Italy, Germany, Austria and Ireland, said it would receive 600 million pounds in cash at completion and would retain a stake of around 20...