Bid & Ask

Compiled by Ira Boudway

• Russia’s state-run oil company Rosneft will buy TNK-BP, a 50-50 venture between BP and a group of billionaires, for $55 billion. After the deal, Rosneft’s output will match ExxonMobil’s.

Target is selling its credit-card portfolio to TD Bank Group for the gross value of outstanding debt when the deal closes. The value was $5.9 billion when it was announced.

Royal Bank of Canada, the nation’s largest lender, will pay $4.1 billion for Ally Financial’s Canadian auto finance and deposit business.

• Japanese mobile operator KDDI is partnering with Sumitomo to buy the 30 percent of Jupiter Telecommunications they don’t already own for $2.7 billion. Each will own half of Jupiter.

• London private equity firm Permira Advisers will buy, the world’s largest family history website, for $1.6 billion in a bid to expand the business in Europe.

• Dublin-based Experian, the world’s largest credit checking company, will pay $1.5 billion for the 30 percent of its Brazilian unit, Serasa, that it doesn’t already own.

Halcón Resources is buying 81,000 acres of North Dakota oil and gas fields from Petro-Hunt for $1.5 billion. The fields produce the equivalent of more than 10,500 barrels of oil per day.

• Wintershall, the oil production unit of BASF, will pay $1.4 billion for partial stakes in North Sea oil and gas sites owned by Norway’s Statoil.

• Facing tough conditions in the U.K. and its home market of Ireland, C&C Group, maker of Magners cider, will buy Vermont Hard Cider, maker of Woodchuck Hard Cider, for $305 million.

Nike is selling U.K.-based apparel maker Umbro to Iconix Brand Group for $225 million. It paid $484 million for the company in 2008. Nike is also trying to sell its Cole Haan dress-shoe stores.


Magazines Review offers you a broad range of popular American magazines online. Browse an extensive directory of magazines, covering most important aspects of your life. Find the most recent issues of your favourite magazine, or check out the oldest ones.

About content

All the articles are taken from the official magazine websites and other open web resources.

Please send your complains and suggestions through our feedback form. Thank you.