Bhinneka News Online: Reuters Deals Today: September 8, 2017

Friday, 8 September 2017

Reuters Deals Today: September 8, 2017

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Friday, September 8, 2017

Will Saudi Aramco deliver world record profit for next year's IPO?

LONDON (Reuters) - When oil giant Saudi Aramco discloses its financials for the first time next year, it must either surprise investors with world record profits or reduce its aspirations for a $2 trillion valuation in its initial public offering (IPO). [IPO-ARMO.SE]

Chinese online insurer ZhongAn wins HK approval for $1 billion IPO: sources

HONG KONG (Reuters) - ZhongAn Online Property and Casualty Insurance Co Ltd, China's first internet-only insurer, secured Hong Kong stock exchange approval for its planned initial public offering which could raise more than $1 billion, sources with direct knowledge of the deal said on Friday.

VW eyes sale of assets accounting for 20 percent of revenues: WSJ

FRANKFURT (Reuters) - Volkswagen is actively working on deals to sell non-core assets accounting for as much as 20 percent of the German carmaker's annual revenues, The Wall Street Journal quoted its chief executive as saying on Thursday.

Hudson's Bay signals no interest in selling Galeria Kaufhof

DUESSELDORF/NEW YORK (Reuters) - Canadian retailer Hudson's Bay signaled on Friday it had no intention of selling German department store chain Kaufhof, after people familiar with the matter said Austrian real estate company Signa Holding was considering a bid.

JPMorgan creates joint venture for retail, internet banking: memo

(Reuters) - Merger and acquisition dealmakers make their livings advising companies on mergers, sales and spinoffs. But this time, investment bankers at JPMorgan Chase & Co are working on an internal deal of their own.

Buyout firm Cove Hill Partners closes $1 billion fund

(Reuters) - Cove Hill Partners, a recently formed private equity firm founded by a former Bain Capital executive, said on Thursday it closed its first private equity fund with more than $1 billion in commitments.

Monsanto to sell its cotton seed brand to India's Tierra Agrotech

NEW DELHI (Reuters) - Monsanto Co will sell its small branded cotton seed business to local firm Tierra Agrotech Private Ltd, but remains fully committed to India's agriculture sector, a Monsanto India spokesman said on Friday.

Britain's FCA quizzed by lawmakers on listing rule plans ahead of Aramco IPO

LONDON (Reuters) - Britain's financial regulator has been told by two parliamentary committees to address concerns that plans to relax rules on listing state companies could undermine corporate governance.

India's Eicher ready to bid up to $2 billion for Ducati: paper

BANGALORE/BERLIN (Reuters) - India's Eicher Motors is set to offer $1.8 billion-$2 billion for Italian motorcycle manufacturer Ducati, the Economic Times newspaper reported on Thursday, although German owner Volkswagen has put the sale process on hold, sources have said.

P&G says Peltz's plan would lead to higher costs, lower profits

(Reuters) - Procter & Gamble Co said on Thursday activist investor Nelson Peltz's plan to boost shareholder value would result in higher costs, lower profits and another restructuring that could lead to a breakup of the company.