Reuters - Deals Today

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Wednesday, October 11, 2017

Goldman creates 'brain trust' in effort to boost deals business

(Reuters) - Goldman Sachs Group Inc is betting it can get its money-making mojo back by pitching creative deals to big, complex clients, marking a return to its investment banking roots as trading revenue slows.

BMW eyes China joint venture with Great Wall: source

SHANGHAI/BEIJING (Reuters) - German luxury automaker BMW is looking to form a joint venture with Great Wall Motor , a source familiar with the matter said, sending shares in the Chinese automaker up by nearly a fifth on Wednesday.

Fund manager Elliott sees scope for cost cuts at GEA: source

FRANKFURT (Reuters) - Activist investor Elliott sees scope for cost cuts at food processing machinery maker GEA and thinks its current restructuring plan is not good enough, a person close to the fund manager said on Wednesday.

Honeywell seeks M&A as it keeps aero, spins off two units

NEW YORK (Reuters) - Honeywell International Inc said Tuesday it will pare its focus to four business lines, including aerospace, and spin off two businesses with $7.5 billion in revenue to help fund acquisitions.

Hitachi Kokusai says KKR raised offer price to 2,900 yen a share

TOKYO (Reuters) - KKR & Co LP has raised its offer price for Hitachi Kokusai Electric Inc to 2,900 yen a share from 2,503 yen, the Japanese firm said on Wednesday, as the U.S. buyout firm revises terms deemed unsuitable for minority shareholders.

EU regulators clear Novo Banco's sale, revamp

BRUSSELS (Reuters) - EU state aid regulators approved on Wednesday the sale of Portuguese state-rescued Novo Banco and its subsequent revamp by its new owner U.S. private equity firm Lone Star.

BC Partners acquires German technical ceramics maker Ceramtec

FRANKFURT (Reuters) - Buyout group BC Partners has agreed to buy German industrial ceramics group Ceramtec from peer investor Cinven, the groups said on Wednesday.

China independent oil refiners set up $5 billion joint venture: executive

BEIJING (Reuters) - A group of six Chinese independent oil refiners set up a 33 billion yuan ($5 billion) joint venture to compete with state-owned giants and the rise of private chemical giants, a senior executive at one of the partners said.

Two Russian tycoons sell 3 percent of aluminum giant Rusal for $315 million

MOSCOW (Reuters) - Russian tycoons Mikhail Prokhorov and Viktor Vekselberg have sold a 3 percent stake in Russian aluminum giant Rusal via an accelerated bookbuilding (ABB) for $315 million, one of their bookrunners said on Wednesday.

India's Ola raises $1.1 billion in Tencent, SoftBank-led round, seeks another $1 billion

NEW DELHI (Reuters) - Indian ride-hailing firm Ola has raised $1.1 billion from investors led by China's Tencent Holdings and Japan's SoftBank Group and is in advanced talks with other investors for another $1 billion.