Catherine Badour
Chinese video streaming service provider iQiyi Inc, a unit of search engine firm Baidu Inc (BIDU.O), filed on Tuesday for an initial public offering that is set to raise more than $1.50 billion amid fierce competition in China’s online entertainment market, Reuters reported.
Chinese electric vehicle startup NIO has hired eight banks including Morgan Stanley (MS.N) and Goldman Sachs (GS.N) to work on a planned U.S. stock market listing this year worth up to $2 billion, sources told Reuters.
Private equity-backed Siccar Point is seeking to sell up to half its stake in a major North Sea oil project led by Chevron (CVX.N), sources told Reuters.
A consortium of buyout groups will pay around a billion euros for Germany’s HSH Nordbank [HSH.UL], once the world’s largest ship financier, as it emerges from crippling writedowns and state bailouts triggered by the deepest sector slump on record, Reuters reported.
Retailer Toys R Us UK [TOYUK.UL] has gone into administration, the firm appointed to oversee the process said, putting around 3,000 jobs at risk, Reuters reported.
French hotel group AccorHotels (ACCP.PA) said on Tuesday it had agreed to sell 55 percent of its AccorInvest property business to a group of sovereign and institutional investors for 4.4 billion euros ($5.3 billion).
Private equity firm Blackstone’s (BX.N) and U.S. specialty material company Celanese (CE.N) have offered concessions in an attempt to address EU antitrust concerns over the planned merger of their acetone tow units, Reuters reported.
Buyout groups Cerberus and J.C. Flowers plan to buy Germany’s troubled HSH Nordbank [HSH.UL] through separate vehicles for the lender’s core operations and its non-performing assets, sources told Reuters.
Goldman Sachs-backed payments company Circle has acquired U.S. cryptocurrency exchange Poloniex, Circle said on Monday, in an effort to cement its position as one of the leading companies in the world of blockchain technology, Reuters reported.
Ceva Logistics aims to list on the stock exchange before the European summer as its private equity owner Apollo (APO.N) hopes to take advantage of buoyant stock market valuations, sources told Reuters.