Philip Chua Business Blog

Posts Tagged ‘stake’

Instead they appointed Temasek unit ST Asset Management – a move backed by the independent directors – in a bid to revive the company’s flagging fortunes.

The move had been opposed by the previous manager, a unit of collapsed Australian investment bank Babcock & Brown, which fell victim to the financial crisis.

Babcock, the firm’s No. 1 shareholder with a 13.8 per cent stake, is in liquidat… more

AP – ANZ Bank said Friday it will buy Dutch-based ING Groep NV’s stake in their Australian and New Zealand life insurance and wealth management joint ventures for 1.76 billion Australian dollars ($1.53 billion).

Reuters – General Motors agreed to sell a 55 percent stake in Opel to a group led by Canada’s Magna (MGa.TO) after months of fraught negotiations that had weighed on the European unit and its 50,000 workers.

Reuters – Billionaire investor and philanthropist George Soros’ Soros Fund Management reported holdings of $4.2 billion at the end of the second quarter after cutting its stake in a number of retailers.

Reuters – Citigroup announced on Thursday its biggest management shake-up since the financial crisis began, replacing its chief financial officer and installing a new banking chief as it prepares to give the government a 34 percent equity stake.

Boeing’s planned purchase of a South Carolina manufacturing plant triggers a race between at least four states for a crucial stake in commercial airplane production.