General Electric said it has acquired two technology startups to build its artificial intelligence capability, a move that helps it compete with IBM's Watson product, Reuters reported. GE said the acquisitions of Vancouver, British Columbia's Bit Stew Systems and Berkley, California's Wise.io will expand its Predix platform for industrial internet applications, which connects big machines such as power plants and aircraft engines to databases and analytical software. Terms of the deals weren't disclosed.
2 min read · 15 November 2016
Private equity firm Equistone Partners has put its controlling stake in Unither Pharmaceuticals up for sale, with investment firms Eurazeo (EURA.PA) and Wendel (MWDP.PA) among possible bidders, sources told Reuters.
1 min read · 15 November 2016
Canada's Lundin Mining Corp said it would sell its indirect stake in TF Holdings Ltd to an affiliate of Chinese private-equity firm BHR Partners for about US$1.14 billion in cash, Reuters reported. Bermuda-based TF Holdings owns an 80 percent interest in Tenke Fungurume Mining SA. Lundin owns an indirect 30 percent stake in TF Holdings, resulting in an effective 24 percent interest in Tenke. Tenke Fungurume, in the southern Congolese copper belt, is one of the world's largest copper deposits.
2 min read · 15 November 2016
Canada's Lundin Mining Corp (LUN.TO) said it would sell its indirect stake in TF Holdings Ltd to an affiliate of Chinese private-equity firm BHR Partners for about $1.14 billion in cash.
2 min read · 15 November 2016
Grocery shopping center owner Regency Centers Corp (REG.N) said on Monday it would buy Equity One Inc (EQY.N) for about $4.6 billion, adding shopping centers in urban areas like New York and Los Angeles to its portfolio, Reuters reported.
1 min read · 15 November 2016
International Data Group, a pioneer in technology publishing and owner of such venerable names as PCWorld and the market research firm IDC, is in talks to sell itself for more than $1 billion to a Chinese investor group headed by IDG of Greater China chairman Hugo Shong, Reuters reported.
3 min read · 15 November 2016
Japanese brewer Asahi and a consortium led by Swiss investment firm Jacobs Holding have made it onto the shortlist of bidders for SABMiller's eastern European beer brands, sources told Reuters. Anheuser-Busch InBev agreed to sell the brands, which are estimated to be worth more than US$5.5 billion. Jacobs is partnering with Czech family office R2G and Canadian pension fund manager PSP Investments.
2 min read · 14 November 2016
Canada is not worried about competing with the United States to draw private investment in infrastructure, Prime Minister Justin Trudeau said this week, adding that the country's long-term stability is attractive to investors. Ottawa wants to attract $4 to $5 in private funding for every $1 coming from the public purse and is speaking to sovereign wealth funds and global private equity firms, as well as domestic pension funds. Attendees at an event organized by the Canadian government in collaboration with U.S. investment firm BlackRock included such potential partners as Norway's Norges, the Qatar Investment Authority and Singapore sovereign investor Temasek.
2 min read · 14 November 2016
Varo Energy, a joint venture between the world's top oil trader Vitol and private equity firm Carlyle Group, says it has signed an agreement to acquire 100 percent of the shares in Inter Oil B.V., the holding company of retail and wholesale businesses operating under the brand names "Brand Oil" and "Amigo" in the Netherlands.
1 min read · 14 November 2016
Amaya Inc's former chief executive, David Baazov, has offered to buy the Canadian online gambling company in a deal valued at about $3.48 billion, Reuters reported. Baazov, who already owns about 17.2 percent of the Montréal-based Amaya, including options, said on Monday he made the offer on behalf of a to-be-formed entity led by him. Four funds had committed $3.65 billion to help the new entity buy Amaya. The funds are: Head and Shoulders Global Investment Fund SPC – HS Special Event Segregated Portfolio, Goldenway Capital SPC- Special Event SP, Ferdyne Advisory Inc and KBC Aldini Capital Ltd.
3 min read · 14 November 2016
