2014.2
Daewoo consortium wins $1.4 bln Algeria plant order
A South Korean consortium organized by Daewoo International Corp won a $1.4 billion order to build two power plants in Algeria from the state-run utility Sonelgaz, Daewoo said on Thursday.
Tokyo prosecutors raid Novartis Japan offices
Prosecutors in Tokyo raided offices of Swiss drugmaker Novartis on Wednesday as part of an investigation into alleged use of manipulated data to promote its best-selling blood pressure drug Diovan.
Shengmu High-Tech Dairy ‘plans $800 mln HK IPO’
Inner Mongolia Shengmu High-Tech Dairy plans to raise up to $800 million in a Hong Kong initial public offering as soon as the second quarter of the year, IFR reported on Wednesday, citing sources familiar with the deal.
StanChart considers HK consumer finance unit sale
Standard Chartered Plc is seeking buyers for a Hong Kong consumer finance business worth $500 million to $700 million, according to people familiar with the matter, as the Asia-focused lender sells off peripheral businesses.
China military to tighten building controls in anti-graft drive
China’s military said on Thursday it would tighten controls over the construction and sale of buildings to ensure proper accounting and transparency for all financial transactions as part of a wider government anti-corruption drive.
Shiseido to sell 2 skincare brands to L’Oreal
Japan’s Shiseido Co Ltd said on Thursday that it has signed a deal to sell skincare brands Decleor and Carita to L’Oreal SA for about 230 million euros ($316.3 million).
NA Deals: Dongfeng to invest $2.2 bln in Peugeot tie-up
Also, CC and Maples star in setting up CR Land’s $2 billion MTN programme, CC advises on China Shipping Overseas Finance’s $500 million bonds issue, Mori Hamada, Norton Rose and Sidley counsel on Partners Group’s $250 million investment to develop a Japanese solar platform, and much more in this week’s North Asia deals spotlight.
Indonesia takaful firms boost agents, products before spin-off
Companies selling Islamic insurance (takaful) in Indonesia are boosting agent numbers and product ranges ahead of a new rule that will require them to be run independently.
Singapore banks to stop setting Indonesia FX reference rate
Banks in Singapore are to stop setting a reference rate for the Indonesian rupiah, the local banking and foreign exchange associations said on Tuesday, eight months after 20 banks were censured for trying to rig benchmark rates in the city-state.
No concentrate export permits until March: Indonesia
Indonesia does not expect to approve any export permits for mineral concentrates until next month at the earliest, a senior government official said on Monday, keeping one of the world’s biggest mining industries at a standstill.