Hong Kong-listed L’Occitane International SA confirmed that its controlling shareholder is contemplating a potential deal to take the skincare company private, but said no definitive agreement has gone through in...
Mexico govt no longer interested in buying Citigroup’s local retail unit
The Mexican government is no longer interested in purchasing Citigroup’s local retail arm, known as Banamex, a government spokesperson said on Thursday, adding that the U.S. bank “chose a different...
Caledonia Investments solicits bids for $585 mln wealth manager 7IM – sources
Caledonia Investments has given prospective buyers until the end of the month to table indicative offers for wealth manager 7IM, two people familiar with the matter told Reuters, in the latest chapter of consolidation...
NCLT approves Ace Infracity resolution plan for 3C Homes
The NCLT has approved the resolution plan by Ace Infracity Developers for the debt-ridden 3C Homes. The NCLT bench observed the resolution plan submitted by Ace Infracity Developers has been approved by the Committee of...
NCLT accepts Delhivery notice citing Go First’s insolvency as ‘fraudulent’
The National Company Law Tribunal (NCLT) Thursday accepted Delhivery’s notice seeking a declaration of Go First’s voluntary insolvency resolution as “fraudulent and malicious.” It gave the...
Citigroup scraps Mexico unit sale, will pursue IPO instead
Citigroup Inc scrapped a $7-billion sale of its Mexican consumer unit and will list it instead, in a surprise move that delays the bank’s overhaul and will likely feed into investor anxiety about the...
Mexican president: ‘No problem’ if Grupo Mexico buys Citi’s Banamex unit
Negotiations over the sale of Citigroup Inc’s Mexican retail bank Citibanamex are “going really well” and the government is upbeat about conglomerate Grupo Mexico’s possible purchase, President...
NCLT junks insolvency plea against Simplex, cites co’s stuck receivables
In a setback to banks, the Kolkata bench of the National Company Law Tribunal (NCLT) has dismissed a petition by the Central Bank of India to start insolvency proceedings against Simplex Infrastructures, noting that the...
Grupo Mexico nearing $7 bln deal for Citi’s Banamex unit -source
Conglomerate Grupo Mexico is set to buy Citigroup Inc’s retail banking operations in Mexico for about $7 billion in a deal that could be announced as early as this week, according to a person familiar with the...
Runwal buys out GIC’s entire 50% stake in Mumbai’s R City Mall
Realty major Runwal has bought out Singapore’s sovereign wealth fund GIC’s entire 50% stake in their joint retail property R City Mall for around Rs 1,000 crore to get complete control of the asset in Mumbai’s Ghatkopar...
China’s CITIC buys controlling stake in Nanjing Iron & Steel
State-owned Chinese conglomerate CITIC Limited said on Sunday it will buy a 55% stake in Nanjing Iron & Steel Group, one of the country’s top specialty steel producers, beating out top private steelmaker...
Troubled Silicon Valley Bank acquired by First Citizens
First Citizens will acquire much of Silicon Valley Bank, the tech-focused financial institution that collapsed this month, setting off a chain reaction that caused a second bank to fail and tested faith in the global...