JAKARTA - Indonesia's mining-to-telecoms conglomerate Bakrie Group will negotiate with creditors to restructure part of its $8 billion in debt rather than sell major assets, people familiar with its strategy say.
Thu, Oct 30 2014
RIYADH - Saudi Arabia's National Commercial Bank said the retail portion of its 22.5 billion riyal ($6 billion) initial share sale had attracted investor interest amounting to more than double the amount on offer.
LONDON - The private equity owners of Parques Reunidos are sounding out interest for a sale that could value the Spanish zoo, marine and water park operator at about 2 billion euros ($2.6 billion), four sources familiar with the matter said on Thursday.
NEW YORK - Invesco Ltd said on Thursday that it planned to take over management of the PowerShares DB funds from Deutsche Bank AG as it looks to expand its commodity product lineup for its exchange-traded funds business.
SEOUL - Innocean Worldwide Inc, the in-house advertising agency for Hyundai Motor Group, chose bankers on Thursday to manage an initial public offering that it hopes enables it to emerge from the shadows of the conglomerate and better compete for global clients.
- General Electric Co is planning to divest stakes in its joint venture auto-financing and credit card businesses in South Korea, people familiar with the matter told Reuters, as the U.S. conglomerate continues to trim its exposure to the financial services sector.
COPENHAGEN - Denmark's Novo Nordisk said on Thursday that it would provide an update on whether or not to list its IT subsidiary NNIT on January 30, when it provides its next earnings report.
Wed, Oct 29 2014
SYDNEY - Australia said on Thursday it will sell A$1.5 billion ($1.32 billion) worth of shares in health insurer Medibank Private to retail brokers in Australia and New Zealand, far less than the A$12 billion worth of stock they applied for in the listing.
NEW YORK - A group of funds that threw a monkey wrench in Bank of America Corp's proposed $8.5 billion settlement with investors in mortgage-backed securities will object to JPMorgan Chase & Co's $4.5 billion offer to settle claims over similar investments, according to the lawyer that represents them.
FRANKFURT/MADRID - E.ON is asking bidders to submit binding offers for its Spanish business by Nov. 3, in a sale likely to fetch as much as 2.2 billion euros ($2.8 billion) to help Germany's top utility cut debt, three people familiar with the matter said.
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.