Financial Services & Real Estate Headlines

Tue, Jul 22 2014

JPMorgan nears sale of half its private equity business: WSJ

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- JPMorgan Chase & Co is close to a deal to sell half its private equity business, One Equity Partners, the Wall Street Journal reported, citing people familiar with the matter.

22 Jul 2014

PetSmart hires bank to study buyback, deal options: sources

NEW YORK - PetSmart Inc has hired investment bank JPMorgan Chase & Co to evaluate a range of alternatives, including a leveraged share buyback and a potential deal with private equity, according to people familiar with the matter.

22 Jul 2014

Espirito Santo family woes mount as Rioforte seeks creditor protection

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LISBON - The woes of Portugal's only banking dynasty, the Espirito Santo family, mounted on Tuesday as another of their holding companies asked a court for protection from creditors.

22 Jul 2014

CIT to buy OneWest Bank for more reliable funding source

- U.S. small-business lender CIT Group Inc said it would buy California bank OneWest Bank NA for $3.4 billion in cash and stock, a deal that will give CIT a more reliable source of funding.

22 Jul 2014

Life Healthcare to invest up to $132 million in India hospital chain to raise stake

MUMBAI - South African hospital operator Life Healthcare Group Holdings Ltd will invest up to 7.9 billion rupees ($132 million) to raise its stake in an Indian hospital chain, the venture's India partner Max India Ltd said on Tuesday.

22 Jul 2014

Goldman, Warburg among investors nearing $2 billion Huarong deal: sources

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HONG KONG - Goldman Sachs and private equity firm Warburg Pincus are among the investors nearing a deal to buy an up to 20 percent stake in China Huarong Asset Management Ltd for about $2 billion, seeking a share in the profitable business of bad loan management in China.

Deals, China 22 Jul 2014

Mon, Jul 21 2014

Sterling, Ballmer discuss possible Clippers deal: source

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LOS ANGELES - Embattled Los Angeles Clippers owner Donald Sterling on Monday met with former Microsoft Corp Chief Executive Officer Steve Ballmer to discuss a possible settlement over Sterling's opposition to the $2 billion sale of the basketball team, a source close to the case said.

Sports, Deals 21 Jul 2014

BBVA to buy Spain's bailed-out Catalunya Banc

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MADRID - Spain will sell Catalunya Banc, one of the last lenders still in state hands after the financial crisis, to the country's second-biggest bank BBVA for just under 1.2 billion euros ($1.6 billion), said bank restructuring fund FROB on Monday.

21 Jul 2014

Exclusive: Sterling needs $2 bln sale of NBA's Clippers to pay debt

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LOS ANGELES - If the disputed $2 billion sale of professional basketball's Los Angeles Clippers is not completed, it could force team owner Donald Sterling to sell off some of his real estate assets to pay back debt, the executive who manages his holdings told a court on Monday.

Sports, Deals 21 Jul 2014

BC Partners hires banks for $1.3 billion OVS listing: sources

LONDON - European private equity firm BC Partners [BCPRT.UL] has appointed Bank of America Merrill Lynch and Goldman Sachs to run the listing of its OVS Industry fashion chain, several sources familiar with the matter said on Monday.

21 Jul 2014
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Key retirements mean a changing of the guard next year in U.S. Congress

Regardless what voters decide in the November elections, there will be a major changing of the guard next year in the U.S. Congress as result of a number of key retirements.