Global Investing

Japan… tide finally turning?

March 21, 2012

Until recently, when you mentioned  ”Japan” in the investment context, you could almost hear a collective sigh of disappointment — it was all about recession, deflation and poor investment returns.

from DealZone:

Sovereign Funds sextuple down

October 14, 2009

They may be placing smaller bets, but sovereign wealth funds were back with a vengeance in the third quarter.

from David Gaffen:

Ken Lewis: When Buying the Dips Fails

October 1, 2009

In a bull market, buying on the dips works like a charm. Pullbacks in the market are quickly cannibalized by hungry investors looking for anything that smells like a bargain.

from DealZone:

The Office: More tragedy than comedy for UK banks

May 29, 2009

Pedestrians walk in the financial district of Canary Wharf in London March 24 2009. With property markets stabilising and hopes that the worst of the financial crisis is behind us, Europe's banks are now looking to resolve their next biggest problem: 225 billion pounds of loans backed by UK commercial property.

from DealZone:

“Tourists” arrive in private equity

May 21, 2009

Opportunistic buyers, lovingly dubbed "tourists" by those in the industry, have moved into the secondary private equity market. They're looThe cruise ship from Mediterranean Shipping Company Musica dwarfs Via Garibald as it arrives in Veniceking for positions in brand-name private equity funds at knock-down prices. As I wrote in a DealTalk today:"Pension funds and wealthy middle-east sovereign wealth funds are buying up investments in private equity funds, pushing up prices and sidelining secondary firms that specialise in acquiring the assets."The market for second-hand private equity assets -- where private equity investors offload assets to specialist buyers -- has mushroomed as the credit crisis has intensified. And increasing numbers of cash-strapped investors are concerned about meeting their future commitments to buyout funds."New investors have been attracted to deals by steep discounts to net asset value, forcing up prices for specialist buyers, such as Goldman Sachs (GS.N) and HarbourVest Partners (HVPE.AS) that last month closed secondary funds after reaching their $5.5 billion and $2.9 billion targets respectively."Read the full piece here.

Merrill Lynch is seventh largest bank acquisition ever

September 15, 2008

Bank of America’s planned $44.3 billion acquisition of Merrill Lynch is the seventh largest bank acquisition ever announced, according to Thomson Reuters Deals Intelligence.  Bank of America is the fourth largest bank globally and the top US bank with a market value of US$153.9 billion.

Adecco’s dilemma: To bid or not to bid

August 27, 2008

adecco.jpgAdecco, the world’s largest staffing firm, now has six weeks to either make a formal offer for British rival Michael Page or walk away and leave the company in peace for at least six months.

What next for OMV, and for MOL?

August 6, 2008

omv-ceo.jpgFollowing an acrimonious and drawn-out takeover battle for Hungary’s MOL, Austrian oil and gas group OMV finally did as expected: it threw in the towel.

Mick Davis takes late-cycle punt with Lonmin bid

August 6, 2008

xstrata.jpgMining stocks have lost a third of their value over the past three months on fears the commodity super-cycle is coming to end — but Xstrata’s Mick Davis reckons it’s still a good time to buy.

Did banks get wires crossed on EDF deal?

August 4, 2008

pylon.jpgThe last-minute collapse of the 12 billion pound sale of British Energy to EDF raises the question of how well banks behind the deal were plugged in with major shareholders, who ended up vetoing the acquisition.