Biggest Dividend

posted by Megan Davies on Jun 30

U.S. private equity firms are making further inroads in Asia.

Overnight, Carlyle announced it raised $1.04 billion for its fourth Asian growth capital fund — nearly double the size of its previous such fund.

The fund has already made investments into companies including the high-end Chinese women’s apparel maker Ellassay. Fundraising is exceptionally tough right now for private equity firms. Carlyle said nearly 40 percent of the fund’s investors are new and that it raised the fund in 14 months, reflecting improved investor sentiment towards China and India.

Blackstone, increasingly aggressive in Asia, on Monday hired an executive from Deutsche Asset Management to lead its capital raising efforts across the Asia-Pacific region. The firm has also been talking to the Shanghai city government to set up a wholly owned China subsidiary as it prepares to launch a local currency private equity fund, sources previously told Reuters.

Deals of the day: 

* Japan’s Shinsei Bank and Aozora Bank, two loss-making lenders backed by U.S. investors, are likely to announce plans on Wednesday to merge by next year, two sources familiar with the matter said.  
 
* Shareholders in Australian investment firm Macquarie Communications Infrastructure Group voted in favour of a $1.3 billion takeover offer from the Canada Pension Plan Investment Board (CPPIB). 

* Belgium-based RHJ International is close to a deal to buy a stake in Opel after talks between parent General Motors and preferred bidder Magna International hit snags. 

* Swedish software company Global Gaming Factory X AB said it had agreed to buy free file-sharing website The Pirate Bay, and that it would find ways to compensate copyright owners for downloaded material. 
    
* Shanghai Airlines expects a detailed plan for a long-anticipated merger with China Eastern Airlines to emerge next month, a senior executive at the airline said. 

* Finland’s Ruukki Group Plc said it would acquire Australia’s platinum-group metals producer Sylvania Resources Ltd for 268 million euros ($378.1 million) under a merger implementation agreement.

* Russia’s Alfa Group, locked in a five-year boardroom war with Telenor, has halted talks with the Norwegian telecoms group on a potential merger of their Russian and Ukrainian assets, an Alfa official said.

posted by Yahoo! News Search Results for dividends on Jun 30

Dividends are in the dumps . For 11 years ended 2007, the S&P 500 carried a yield of less than 2% compared with a historic average for stocks of closer to 5%. Share prices have plunged since 2007, so the index’s yield should have fattened to 3% or so. Instead, it's on its way to dipping below 2% thanks to financially distressed companies that have slashed payments. S&P reckons dividends this ...

posted by Yahoo! News Search Results for dividends on Jun 30

Dividends are in the dumps . For 11 years ended 2007, the S&P 500 carried a yield of less than 2% compared with a historic average for stocks of closer to 5%. Share prices have plunged since 2007, so the index’s yield should have fattened to 3% or so. Instead, it's on its way to dipping below 2% thanks to financially distressed companies that have slashed payments. S&P reckons dividends this ...

posted by Sam Cage on Jun 30

Roche’s megabucks Genentech buy is looking more like a reverse takeover — in some ways, at least.

The Swiss drugmaker splashed out $47 billion to buy out its biotech partner to secure access to Genentech’s impressive new drugs. But Roche’s U.S. operations are to operate under the Genentech name and research, development and commercial operations are all being based at the U.S. group’s South San Francisco headquarters.

Now Roche doesn’t even consider itself Big Pharma. It says it will leave the industry group Pharmaceuticals Research and Manufacturers of America (PhRMA) but will retain Genentech’s membership of the Biotechnology Industry Organization (BIO).

“As part of the world’s largest biotechnology company, Genentech and Roche believe that BIO’s purpose is closely aligned with the direction of the new company and, therefore, can represent the company’s interests in Washington, among policymakers, legislators and the general public,” Roche said in a statement.

PHOTO CREDIT: People are reflected in a window (R) as they walk past the headquarters of Swiss pharmaceutical company Roche in Basel February 4, 2009. REUTERS/Christian Hartmann

posted by Yahoo! News Search Results for dividends on Jun 30

MOSCOW. June 30 (Interfax) - Shareholders in the Mosenergo (RTS: MSNG) or TGK-3 (RTS: TGKC) generating company voted at their AGM to waive dividends for 2008 and to reinvest almost all last year's net profit, an Interfax correspondent reports from the meeting.

posted by Yahoo! News Search Results for dividends on Jun 30

MOSCOW. June 30 (Interfax) - Shareholders in the Mosenergo (RTS: MSNG) or TGK-3 (RTS: TGKC) generating company voted at their AGM to waive dividends for 2008 and to reinvest almost all last year's net profit, an Interfax correspondent reports from the meeting.

posted by Yahoo! News Search Results for dividends on Jun 30

June 30 (Bloomberg) -- Poland’s government, the controlling shareholder in PKO Bank Polski SA , announced a plan for the country’s largest bank to pay out dividends and raise its capital by selling shares and borrowing money.

posted by Yahoo! News Search Results for dividends on Jun 30

June 30 (Bloomberg) -- Poland’s government, the controlling shareholder in PKO Bank Polski SA , announced a plan for the country’s largest bank to pay out dividends and raise its capital by selling shares and borrowing money.

posted by Douwe Miedema on Jun 30

General Motors (GMGMQ.PK) is talking to rival suitors to sell a stake in Opel, the Financial Times says,  primarily Brussels-based RHJ International (RHJI.BR). Magna is still in pole position.

Japan’s Shinsei Bank and Aozora Bank are likely to announce plans to merge by next year, sources familiar with the matter say. The two loss-making lenders are backed by U.S. investors. Read the Reuters story here.

For more Reuters news on deals, click here. Below are two other stories we spotted in newspapers.

Private equity group Candover (CDI.L) has received approaches from trade buyers for Ontex, the Belgium-based maker of diapers and wet wipes, the Financial Times says .

Activist hedge fund firm The Children’s Investment Fund (TCI) is considering offering more flexible terms to investors and a different fee structure, the Wall Street Journal says.

posted by Douwe Miedema on Jun 30

General Motors (GMGMQ.PK) is talking to rival suitors to sell a stake in Opel, the Financial Times says,  primarily Brussels-based RHJ International (RHJI.BR). Magna is still in pole position.

Japan’s Shinsei Bank and Aozora Bank are likely to announce plans to merge by next year, sources familiar with the matter say. The two loss-making lenders are backed by U.S. investors. Read the Reuters story here.

For more Reuters news on deals, click here. Below are two other stories we spotted in newspapers.

Private equity group Candover (CDI.L) has received approaches from trade buyers for Ontex, the Belgium-based maker of diapers and wet wipes, the Financial Times says .

Activist hedge fund firm The Children’s Investment Fund (TCI) is considering offering more flexible terms to investors and a different fee structure, the Wall Street Journal says.