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Finance / China
Shares in pioneering Chinese carmaker BYD Auto skyrocketed on September 29 after it was confirmed that a company controlled by Warren Buffett would pay HKD1.8bn (US$230mn) for a 10% stake. MidAmerican Energy, a holding company of energy assets 87.4% owned by Buffett's Berkshire Hathaway group, will buy 225mn shares in the Shenzhen-based company at a 4.76% discount to the shares'...
2008-10-01Finance / Japan
Nippon Steel, the world's second-largest steelmaker, has strengthened its alliance with Topy Industries, a manufacturer of transportation-related machinery products. The two Japanese...
2008-10-01Finance / Australia
On September 25 mining firms Grange Resources and Australian Bulk Minerals (ABM) announced that they would merge in an AUD718mn (US$603mn) deal, in a bid to capitalise on the ever-increasing...
2008-10-01Finance / Albania
September 29 marked the deadline to submit bids for Albania's power distributor DSO. In June the government selected Italy's ENEL, the Czech Republic's CEZ and Austria's EVN and Energie Steirmark to take part in the tender. Anywhere from 51-76% of the distributor is up for grabs, and it emerged on September 29 that ENEL and CEZ have submitted bids, while both Austrian investors...
2008-10-01Finance / Iceland
To add to the ever-growing list of world banks which are being rescued by their national governments, on September 29 a 75% stake of Icelandic bank Glitnir was bought by its government....
2008-10-01Finance / Russia
Russia's largest domestic car manufactuer, AvtoVAZ, has signed a partnership deal to acquire a 25% stake in Kazakh auto manufacturer Azia Avto. With the sealing of this deal, Azia...
2008-09-25Finance / Argentina
Leading inter-dealer broker GFI Group has acquired a 49% stake in Argentina's Premium Securities, with the option to purchase the remaining 51% in blocks over the next few years. Premium, which is headquartered in Buenos Aires, is an inter-dealer broker of fixed income, foreign exchange and derivatives products. Ron Levi, GFI's C, said 'Premium provides GFI with a partner in an...
2008-10-02Finance / Brazil
Peruvian miner, Atacocha, which said in August that a block of its shareholders were looking to sell a majority stake in the company, announced on October 3 that it would allow PAF...
2008-10-02Finance / Panama
The Port Authority of Panama (AMP) has launched a programme to privatise three inland ports. The ports are Almirante port, in Bocas del Toro province; Armuelles port, in Chiriquí...
2008-10-01Finance / United Arab Emirates
Dubai Group subsidiary Dubai Ventures Group has paid US$76.9mn to become Acacia Real Estate Limited's largest stakeholder. It announced on September 29 that it now holds a 51% stake in the Bahraini real estate investment company and will hold four seats on the company's board of directors. The move was made to expand its real estate portfolio in the Middle East and North Africa...
2008-10-01Finance / United Arab Emirates
On September 14 Dubai Group announced that it has become a founding shareholder in Mazaya Saudi. The group purchased a 20% stake in the Saudi Arabia-based real estate developer via...
2008-09-17Finance / United Arab Emirates
It's not only Saudi Arabia's real estate sector that is attracting attention, Egypt's EFG-Hermes announced on September 16 that it bought a stake in the UAE's Gulf Housing Solutions...
2008-09-17Finance / United States
The IT industry continues to produce a high level of M&A activity given the current climate, as US firm Gamestop, the world's largest videogame and entertainment software retailer, agrees to acquire French firm Micromania from private equity fund L Capital for around US$700mn. Micromania is France's leading video game retailer and boasts 332 retail locations throughout the...
2008-10-02Finance / United States
Hewlett-Packard (HP) announced on October 1 that it will acquire LeftHand Networks, a leading provider of storage virtualisation and storage area network (SAN) solutions. HP, one...
2008-10-02Finance / United States
Cincinnati, Ohio-based Pierre Foods announced on September 30 that it has filed for a consensual Joint Plan of Reorganisation and Disclosure Statement with the US Bankruptcy Court...
2008-10-02
