HSBC was reported to have set a July 31, 2008, deadline for sealing the KEB deal. Yet, there is little possibility that criminal proceedings with the two pending cases will be completed by the end of the year, let alone within a month or two. The financial regulator’s rigid position is adding to speculation that […]
South Korean tax officials have again raided Lone Star’s offices in Seoul, seizing documents relating to the US private equity fund’s recent asset sales worth $2.3bn.
The raid, which comes in a week when the firm said it was in talks to sell Korea Exchange Bank (KEB) to HSBC for as much as $5.5bn, will […]
Cerberus Capital Management LP is one of the largest private equity investment firms in USA. Cerberus Capital Management LP bought 80-percent of Chrysler Group for 7.4-billion dollars. The deal unwinds a 1998 merger. DaimlerChrysler will change its name to Daimler AG. Chrysler will become Chrysler Holding LLC. Under the deal, Daimler will […]
HSBC Finance Corporation, a wholly-owned subsidiary of HSBC North America Holdings Inc., said Tuesday it has reached agreement with the shareholders of Solstice Capital Group Inc. to acquire 100% of the privately held US-based mortgage lender.
The transaction is subject to regulatory approval.
Solstice Capital Group, based in Irvine, CA, had gross assets of USD […]
NYSE Chairman Marshall Carter, along with the rest of the NYSE board, its Chief Executive John Thain and several Goldman Sachs (nyse: GS - news - people ) bankers are slated to testify regarding the New York Stock Exchange merger and its restructuring.
Carter said in an Oct. 12 deposition that Citibank contacted the NYSE on […]
By Kim Yon-se - Staff Reporter
HSBC has not paid the taxes due on tens of billions of won it gained as a result of transactions of shares in 2002 and 2003 in a small Korean company via its equity fund, officials from tax agencies said.
HSBC had acquired PKL, a Korean manufacturing firm in Chungchong […]
JULY 01, 2005 — The Bon-Ton Stores Inc. ,York, Pa., will likely bid on the Northern Department Store Group of Saks Inc., Birmingham, Ala., reports Women’s Wear Daily. Preliminary bids for the stores are due at the end of the week. Bon-Ton will likely team with a private equity firm in the bidding process. The […]
Yasuo Takei, founder of Japan’s top consumer finance firm and Japan’s second-richest man took more than three decades to turn a lending operation aimed at cash-starved housewives into a $10 billion company that prides itself on its ethical standards in a sector rife with shady operators.
It took just nine months for the business […]
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