Oaktree Capital Management LP has entered the race to buy control of Renova Energia SA with a proposal that would inject fresh capital and help refinance part of the Brazilian renewable energy firm's debt maturing this year, sources told Reuters. Oaktree would pay 170 million reais (US$51 million) for Light SA's 16 percent stake in Renova and spend another 1.2 billion reais to dilute Renova's controlling bloc, the sources said. Los Angeles-based Oaktree, the world's biggest distressed debt investor, is competing with Canada's Brookfield Asset Management Inc for the company. Renova this week confirmed a July report by Reuters that Brookfield has made a non-binding proposal for control.
3 min read · 06 July 2017
Canadian mergers and acquisitions rose about 13 percent to $120.5 billion in the first half of 2017, driven by big-ticket energy deals and robust cross-border activity, Reuters reported, citing Thomson Reuters data released this week. Despite strong initial public offerings, overall equity capital deals fell 12 percent to $26.9 billion in the first half from a year ago, the data showed. strong>JPMorgan, Toronto-Dominion Bank and Goldman Sachs took the top three spots in the M&A league tables rankings, while Royal Bank of Canada, TD and Bank of Montreal were the top three advisers on Canadian equity issues in the first half of 2017.
2 min read · 06 July 2017
Chinese bike-sharing start-up Ofo said on Thursday it has raised more than $700 million in its latest funding round that was led by Alibaba Group and two others, in the largest such fund-raising in the business that has drawn keen investor interest.
2 min read · 06 July 2017
Jumbotail, an Indian startup building an online wholesale marketplace for groceries, has raised $8.5 million in a funding round led by venture firm Kalaari Capital with the participation of Nexus Venture Partners, Reuters reported.
1 min read · 06 July 2017
Lloyd's of London insurer Novae Group Plc said it had agreed to be taken over by Axis Capital Holdings Ltd, a Bermuda-based speciality insurer and reinsurer, for 467.6 million pounds ($605.07 million) in cash, sending its shares soaring over 20 percent, Reuters reported.
2 min read · 06 July 2017
Oaktree Capital Management LP has entered the race to buy control of Renova Energia SA (RNEW11.SA) with a proposal that would inject fresh capital and help refinance part of the Brazilian renewable energy firm's debt maturing this year, sources told Reuters.
3 min read · 05 July 2017
Real estate software maker Redfin has filed with U.S. regulators for an initial public offering (IPO) on Friday, the latest company looking to test the public markets after a week of IPOs, Reuters reported.
1 min read · 05 July 2017
Bankrate (RATE.N), an online publisher of personal finance content, said on Monday it would be acquired by digital marketing company Red Ventures for $1.24 billion.
1 min read · 05 July 2017
Tencent Holdings Ltd (0700.HK) has invested around $100 million to $150 million in Indonesian ride-hailing startup Go-Jek, sources told Reuters, in another sign the Chinese tech giant was looking to tap into growth in Southeast Asia's mobile-based services.
2 min read · 05 July 2017
U.S. credit card processor Vantiv agreed to buy Britain's Worldpay for 7.7 billion pounds ($10 billion) on Wednesday in a move expected to trigger further deals.
3 min read · 05 July 2017
