Financial Services & Real Estate Headlines

Tue, Nov 24 2015

Allianz shakes up business to boost profitability


FRANKFURT Allianz on Tuesday set out plans to overhaul its business to help the insurer to overcome a tough business environment, boost sales and profitability and attract new customers.

24 Nov 2015

Bertelsmann seeks partner to buy Penguin Random House: sources


FRANKFURT European media giant Bertelsmann is looking for a private equity partner to help it buy the rest of publisher Penguin Random House should co-owner Pearson want a swift exit from the business, three sources told Reuters.

24 Nov 2015

Mon, Nov 23 2015

Hanmi Financial offers to merge with BBCN in $1.6 billion deal

Hanmi Financial Corp said it proposed to merge with BBCN Bancorp Inc in an all-stock deal valued at about $1.6 billion to create the largest Korean-American banking franchise in the United States.

23 Nov 2015

CVC, Canada's CPPIB to buy Petco for about $4.6 billion


Petco Holdings Inc agreed to be acquired by CVC Capital Partners Ltd and the Canada Pension Plan Investment Board (CPPIB) in a $4.6 billion deal, after merger talks with market leader PetSmart Inc stalled last month due to antitrust concerns.

23 Nov 2015

Elliott Management takes 6.4 percent stake in 'undervalued' Alcoa


Hedge fund Elliott Management Corp disclosed a 6.4 percent stake in "undervalued" Alcoa Inc on Monday, sending the aluminum producer's shares up as much as 6.3 percent.

23 Nov 2015

Malaysia's 1MDB sells power assets to China firm for $2.3 billion

KUALA LUMPUR Malaysia's 1MDB clinched a deal to sell its energy assets to China General Nuclear Power Corporation (CGN) and its subsidiaries for 9.83 billion ringgit ($2.3 billion), a key step for the scandal-hit state fund to cut its debt.

Deals, China 23 Nov 2015

Fri, Nov 20 2015

Omnicom to buy Brazil advertising group ABC, source says

SAO PAULO Omnicom Group Inc, the world's second largest advertising company, has agreed to pay 1 billion reais ($270 million) for Brazil's Grupo ABC, growing Omnicom's publicity, branding services and content in Latin America's largest economy, a source with direct knowledge of the transaction said on Friday.

Deals, Brazil 20 Nov 2015

ABN Amro shares rise as bank refloats seven years after costly bailout

AMSTERDAM ABN Amro returned to the Amsterdam stock exchange on Friday with a valuation of 16.7 billion euros ($17.9 billion), marking an important stage in its rehabilitation since its near collapse and nationalization in the financial crisis of 2008.

20 Nov 2015

Number of $5 billion-plus takeover deals hits record


LONDON A bumper North American railroad bid and three other big tie-ups announced this week have taken the number of takeover deals worth $5 billion or more to a record 128 this year, according to Thomson Reuters data.

Deals, Money 20 Nov 2015

Dorsey's Square jumps in market debut, offering hope to tech startups


Shares of Square Inc, the mobile payments company co-founded and still run by Twitter Inc Chief Executive Jack Dorsey, soared as much as 64 percent in their market debut, following a marked-down initial public offering, countering the negative sentiment that has nagged at Silicon Valley startups in recent weeks. | Video