DaimlerChrysler AG Chief Executive Officer Dieter Zetsche has said for the first time that he is negotiating the sale of Chrysler, preparing to untwist a 1998 merger. DaimlerChrysler has confirmed the speculations that it is in talks with prospective buyers for its loss-making US arm Chrysler. However, the world’s fifth-biggest carmaker also indicated that it [...]
EniNeftegaz, the joint venture company of Italian energy companies Eni and Enel, has won the second lot of Yukos assets auctioned off by the Kremlin to repay the bankrupt Russian oil company’s debts. The assets were acquired for $5.83 billion. Eni SpA, Italy’s largest energy company won the second round of Yukos bankruptcy auction to [...]
Apollo Management LP, probably joining the current rush by buyout firms to cash in on their successful investment records, is reportedly exploring the private sale of a 10 percent stake in the firm for $1.5 billion. The reports suggest that the firm has retained investment bankers to study the viability and future of such a [...]
If you read Harry Potter books then you must be aware about Bloomsbury. This is the company which publishes Harry Potter series of books but now its feeling the pressure and its annual profits have dropped down to £5.2 million. When compared to the revenues of December 2005 which stood at £20.1million it represents a [...]
Kirk Kerkorian, once the biggest shareholder of Chrysler Corp., has reportedly sent a letter to DaimlerChrysler offering to buy the struggling automaker back for $4.5 billion. Kerkorian’s offer for Chrysler seems to have strengthened the position of DaimlerChrysler in the sale of its US subsidiary, sending the German parent’s shares to their highest level since [...]
Satyam Computers, one of the biggest IT outsourcing companies of India has reached South America and it has opened its largest facility out there with the inauguration of a 4,500 square foot development centre in Sao Paulo. From their Latam center the company is already serving its customers in Brazil and other South American countries [...]
Vonage Holdings Corp. on Friday won a temporary stay of a federal judge’s ruling that it can continue operating but cannot recruit new customers during its patent dispute with Verizon Communications Inc. The U.S. district court judge had earlier barred VoIP phone service provider Vonage from signing up new customers after the company lost a [...]
A consortium of Middle Eastern investors and American buyout firms have been reportedly preparing for a bid of at least $50 billion for Dow Chemical Co. which could be marked as the world’s biggest ever leveraged buyout. Britain’s Sunday Express has reported that a financing package has been put in place for a break-up bid [...]
Citigroup Inc. has announced that it will acquire Taiwan’s Bank of Overseas Chinese for 14.1 billion New Taiwan dollars (US $426 million), to create Taiwan’s largest foreign bank by assets, since the U.S. financial giant points towards expanding its overseas business. The group has proposed an all-cash deal, which was reached after prolonged negotiations that [...]
Franco-Spanish tobacco company Altadis SA has rejected a revised takeover bid from Britain-based Imperial Tobacco Group PLC that values the business at $16.09 billion. Last month, Imperial Tobacco had approached Altadis with an initial offer of $60.18 a share with a view to a potential all cash offer for 100 percent of Altadis. Imperial’s revised [...]
