British Petroleum is bidding on a package of Devon Energy assets that the US energy company put up for sale late last year, sources familiar with the matter told Reuters. The company is looking at Devon’s position offshore Brazil, as well as Gulf of Mexico and Canadian assets, one source said. There could be around six […]
Posted on March 11th, 2010 by
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British interdealer broker Tullett Prebon confirmed it was in preliminary talks that might lead to an offer. The stock is up over 24 percent, valuing the company at nearly 830 million pounds ($1.2 billion), so investors see some merit in the idea, but an analyst we spoke to questioned whether the potential buyers talked about […]
Posted on March 11th, 2010 by
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American International Group could learn the fate of the stalled $2.2 billion sale of its Taiwan unit Nan Shan Life Insurance as early as Thursday, when Taiwan’s parliament will review a report on the deal from the top financial regulator. Read the Reuters story here.
A clutch of private equity firms have bid up to 400 […]
Posted on March 10th, 2010 by
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State-owned Dubai World rocked markets in November when it announced a 6-month standstill on debt payments, and the company is back in the news as investors await a $20 billion-plus debt restructuring deal, which bankers say may happen as early as this week.
Among the debts that need to be paid, two Dubai World subsdiaries — Limitless and […]
Posted on March 9th, 2010 by
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Fairholme Capital Management and Pershing Square, two key investors in General Growth Properties, have offered to invest another $3.93 billion in the mall operator to help it emerge from bankruptcy. Shareholders, who only had access to the stock again on the NYSE as of last Friday, bid the stock more than 4 percent higher in […]
Posted on March 9th, 2010 by
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Sberbank, Russia’s biggest lender, is lining up a bid for the 21 percent stake in Turkey’s Garanti Bank that is being sold by General Electric, a source close to the deal tells Reuters. The stake in the most actively traded stock on the Istanbul bourse is worth $3.7 billion at current market prices. Read the story […]
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It was a two-year quest to seal the MetLife deal for Alico. Beyond the $15.5 billion purchase price, what does it mean for the companies and the life insurance sector?
* MetLife seals Alico deal after two-year quest
* Factbox: AIG’s progress on asset sales
From the Web:
A.I.G. Sells Unit to MetLife (NYT)
“Now comes the hard part.” […]
Posted on March 9th, 2010 by
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Slightly strange data from Deutsche Börse. Its latest survey of what top European executives have been doing shows increasing signs of optimism. That is, management board and supervisory board members and their families have been buying shares in their own companies.
All well and good. But the strangeness kicks in when it becomes apparent that a lot of […]
Posted on March 8th, 2010 by
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