The sale of former White House communications director Anthony Scaramucci’s SkyBridge Capital LLC hedge fund investment firm to a consortium that includes a Chinese buyer is still on track, with the closing date expected in late September, Reuters is reporting.
2 min read · 19 September 2017
Shanghai Fosun Pharmaceutical Group (600196.SS) is trimming the size of the stake it will buy in India’s Gland Pharma to 74 percent for $1.1 billion, in a bid to salvage the stalled deal that would be the biggest takeover by a Chinese firm in India, Reuters reported.
2 min read · 18 September 2017
Credit Suisse has set up a new department to nurture socially conscious investing, the latest effort by a major bank to cater for growing demand for so-called impact investing, Reuters reported.
1 min read · 18 September 2017
Teva Pharmaceutical Industries Ltd (TEVA.N) (TEVA.TA) said on Monday it would sell the remaining assets in its specialty women’s health business for $1.38 billion in two separate transactions.
2 min read · 18 September 2017
Software startup Slack Technologies Inc said it raised US$250 million from SoftBank Group Corp and other investors in its latest funding round, boosting the company’s valuation to US$5.1 billion, Reuters reported. The latest fundraising, led by SoftBank through its giant Vision Fund and joined by Accel Partners and other investors, lifted Slack’s total funds raised to US$841 million, the enterprise messaging operator said in an e-mailed statement. The fund provides resources which will help Slack to run as a cash-generating company and the raise will reduce its dependence on outside financing, Slack CEO Stewart Butterfield said. San Francisco-based Slack, which has an office in Vancouver, was launched in 2014 by Butterfield, a Canadian entrepreneur.
2 min read · 18 September 2017
Jollibee Foods Corp, popular in the Philippines for its sweet-style spaghetti and fried chicken, is exploring a bid for Britain’s Pret A Manger which could value the upscale sandwich chain at over $1 billion, Reuters reported.
3 min read · 18 September 2017
Wenner Media said it is exploring strategic options for its majority interest in the Rolling Stone magazine, as the New York-based publisher continues to shift from its print media business amid falling ad revenues., Reuters reported.
1 min read · 18 September 2017
Software startup Slack Technologies Inc said it raised $250 million from SoftBank Group Corp and other investors in its latest funding round, boosting the company’s valuation to $5.1 billion, Reuters reported.
1 min read · 18 September 2017
Struggling retailer Sears Canada Inc’s top executive is negotiating a private-equity backed deal that could be valued at more than $650 million (US$533 million), Reuters reported, citing a Wall Street Journal story. The retailer’s Executive Chairman Brandon Stranzl last month stepped away from day-to-day operations to focus on plans for the company, which filed for creditor protection in June. A potential deal by Stranzl would be financed partly through private-equity capital sourced by Vadim Perelman, the founder of Baker Street Capital Management, and with debt financing, sources told the Wall Street Journal. The proposed offer would reduce the company's store footprint by more than half.
1 min read · 17 September 2017
Finnish mobile games maker Rovio Entertainment Ltd set a price range on Friday for its planned listing that would value the maker of “Angry Birds” at up to $1.1 billion, well below potential values cited in media reports.
2 min read · 15 September 2017
