SYDNEY/LONDON (Reuters) – British insurer Aviva plc (AV.L) is exploring selling its Australian business, which is valued at up to A$1 billion ($735 million), sources with direct knowledge of the process told Reuters. Aviva’s advisers, Morgan Stanley (MS.N) and JP Morgan (JPM.N) have set May 8 as the deadline to submit indicative bids, with final […]
MUMBAI (Reuters) – NYSE Euronext (NYX.N) (NYX.PA), the parent company of the New York Stock Exchange, is talking with many Indian companies for possible foreign listings as global stock markets show signs of recovery, a senior official said. “Our Indian clients see the need to grow and raise capital and when there is a recovery, […]
TORONTO (Reuters) – Canadian private-equity buyouts slumped in the first quarter, led by a pullback by foreign investors as the global economic crisis weighed on deal-making, a leading industry association said on Tuesday. Canada’s Venture Capital and Private Equity Association said there were 18 completed and pending buyout transactions in in the first quarter, 10 […]
NEW YORK (Reuters) – Auto and mortgage lender GMAC LLC’s loss grew by 15 percent, reflecting an increase in soured loans as the economy weakens. The net loss increased to $675 million from $589 million a year earlier, as the Detroit-based company set aside 78 percent more for loan losses than a year earlier. “The […]
Tollgrade Communications Inc. (Nasdaq: TLGD) has agreed to sell the assets of its cable status monitoring product line to an investor group that includes The Hawthorne Group and Rosetta Capital. The deal is valued at $3.15 million, including $2.75 million in cash and $0.4 million in a seller-held note payable over two years.
Milestone Partners has purchased Avure Technologies from The Gores Group for an undisclosed amount. Avure is a Kent, Wash.-based provider of contained, high-pressure processing systems. It was originally acquired by Gores Group in October 2005.
TEL AVIV (Reuters) – Azrieli Group said on Tuesday it submitted the winning bid to buy a 4.83 percent stake in Bank Leumi (LUMI.TA) from Cerberus Capital Management and Gabriel Capital Corp. Azrieli will pay about 740 million shekels ($178 million), or 10.5 shekels per share, for the stake in Israel’s largest bank. Leumi shares […]
SHANGHAI/HONG KONG (Reuters) – Zotye Auto, a Chinese maker of sport utility vehicles (SUV), is raising about 720 million yuan ($106 million) by selling a 20 to 30 percent stake to a private equity fund-led consortium, aiming for a Shanghai initial public offering later, sources said on Tuesday. Zotye planned to sell shares to a […]
LONDON (Reuters) – Nycomed hopes to pick a U.S. licensing partner for Daxas, its “smoker’s lung” drug, by the end of June and ultimately aims for a stock market listing, the privately held Swiss drugmaker said on Tuesday. Zurich-based Nycomed’s focus on a licensing deal and eventual listing dampens speculation of a takeover by a […]
Platinum Equity has completed its acquisition of The San Diego Union-Tribune newspaper from The Copley Press Inc. The all-equity deal reportedly is worth less than $50 million.