NOL Resumes Talks to Acquire German Rival Hapag-Lloyd
Container shipping group Neptune Orient Lines (NOL) has resumed talks about buying German rival Hapag-Lloyd, German paper Die Welt reported on Saturday without identifying its sources, according to Reuters.
NOL had broken off acquisition talks in 2008 after failing to agree on a price for Hapag-Lloyd, which is owned by a consortium of Hamburg-based investors and tourism group TUI. TUI is looking to exit its 38 per cent stake to focus solely on its tourism business.
Die Welt said NOL was in contact with TUI management, with more talks planned for January and a concrete offer expected early next year.
YTL May Sell Singapore’s Orchard Boulevard Project in 1H2012
Malaysian developer YTL Corp may begin selling its luxury home project in downtown Singapore in the first half of 2012, more than four years after buying the site, the Bloomberg reported on Friday.
The project, converted from an old apartment building on Orchard Boulevard that the company purchased in 2007 for S$435 million, will have 78 units targeting wealthy Asian buyers from countries including China, Indonesia and Malaysia, said the company.
The company declined to say how much it will sell the units for, which will have areas of between 1,000 and 3,500 square feet, adding that the average prices of luxury apartments in the area range between S$3,800 and S$5,000 a square foot.
Khazanah Hires Banks for Healthcare Unit’s US$1.5-billion IPO
Malaysian state investor Khazanah has hired Bank of America-Merrill Lynch, Deutsche, and CIMB as joint global coordinators for listing of its healthcare unit that could raise about US$1.5 billion, Reuters reported on Thursday.
The deal could be Malaysia’s fourth-biggest initial public offering (IPO) ever and its second major deal in 2012, when Malaysian plantation company Felda Global Group is also seeking a US$2-billion listing.
MF Global Singapore Cuts 80 Staff
MF Global Singapore on Wednesday said it laid off 80 of its staff.
The company, which has been undergoing liquidation for a month, gave notice to the affected employees on Tuesday, and terminated their employment on Wednesday. The retrenched staff comprise a mix of front- and back-end employees.