Reuters News

Bain, SK Hynix group ups bid for Toshiba chip unit to $22 billion: Reuters

A group including Bain Capital and South Korea’s SK Hynix (000660.KS) has raised its offer for Toshiba Corp’s (6502.T) chip business to 2.4 trillion yen ($22.3 billion) including a 200 billion yen investment in infrastructure, Reuters reported.

China invests $9.1 billion in Rosneft as Glencore, Qatar cut stakes: Reuters

Chinese conglomerate CEFC will buy a 14.16 percent stake in Russian oil major Rosneft for $9.1 billion from a consortium of Glencore and the Qatar Investment Authority, strengthening the energy partnership between Moscow and Beijing, Reuters reported.

India's 2nd largest state seeks to quash Goldman-backed solar project: Reuters

India’s second largest state has appealed to the country’s top court to quash a Goldman Sachs-backed solar project, highlighting the challenges faced by solar companies looking to expand in Asia’s third largest economy, Reuters reported.

Benetton's Edizione readying bid for packaging firm Guala Closures, say sources: Reuters

Italy’s Edizione Holding, the investment vehicle of the Benetton family, is preparing a bid for Italian packaging manufacturer Guala Closures, valued at more than 1 billion euros ($1.2 billion) including debt, sources told Reuters.

Kraft Heinz names 3G Capital partner David Knopf as CFO: Reuters

Heinz ketchup maker Kraft Heinz Co said on Friday 3G Capital partner David Knopf would replace Paulo Basilio as its chief financial officer, starting in October, Reuters reported.

Auto suppliers join funding for self-driving laser sensor firms: Reuters

Two makers of laser-based sensor technology announced new funding rounds this week, with top automotive suppliers Delphi Automotive, Magna International and Magneti Marelli investing in the competitive technology considered key to self-driving cars, Reuters reported. Israel’s Innoviz Technologies announced a US$65 million funding round, joined by Delphi and Magna, and Canada’s LeddarTech said its US$101 million ($130 million) funding round included Delphi and Magneti Marelli. Lidar, which relies on light pulses reflected off objects to gauge their position on and near the road, is seen by most automotive experts as one of the crucial elements for full self-driving cars and has become a prime focus.

Austria's Signa eyes bid for Hudson's Bay Co's Kaufhof: Reuters

Austrian real estate company Signa Holding is considering a bid for Germany’s Galeria Kaufhof, a department store chain owned by Hudson’s Bay Co, sources told Reuters. Signa is working with an investment bank to line up financing for a takeover offer, the sources said. Signa’s potential bid coincides with Hudson’s Bay executives mulling a possible deal of their own. Canada's Hudson’s Bay has reportedly hired a financial adviser to review strategic options, including the possibility of taking the company private. Hudson’s Bay is under pressure from U.S. activist hedge fund Land and Buildings Investment Management.

South Africa's ARC Investments plans to grow to $2 billion fund: Reuters

South African black-owned asset manager ARC Investments aims to grow into a fund of up to 25 billion rand ($2 billion), one of its co-chief executives said on Thursday after listing on the Johannesburg stock market.

EQT has no plans for quick exit from Ottobock, Sivantos: Reuters

Private equity firm EQT has no plans for a quick exit from either prosthetics maker Ottobock or hearing aids manufacturer Sivantos Group, EQT partner Marcus Brennecke said.

Chinese logistics firm Best, backed by Alibaba, launches $930 million U.S. IPO: Reuters

Best Inc, a Chinese logistics company backed by Alibaba Group (BABA.N), is launching a U.S. IPO that is seeking about $930 million to fund an expansion of its supply chain network, develop new technology and open more convenience stores, Reuters reported.