Russian banks Sberbank and VEB along with the Russian Direct Investment Fund (RDIF) agreed to purchase a 25% stake each in Russian publishing house Prosveshchenie. Combined, the Russian investors took a 75% stake in the publishing company. Prosveshchenie, whose name means ‘enlightenment’ in Russian, was valued at 108 billion roubles (US$ 1.5 billion) for the […]
Adani Green Energy Limited is set to acquire Japan-based SoftBank Group Corporation’s and Bharti Enterprises Ltd owned solar power producer SB Energy India for an equity value of roughly US$ 625 million. This is an all-cash deal. The enterprise value of the transaction is US$ 3.5 billion. Adani Green Energy is set to acquire 100% […]
Aragen Life Sciences Pvt Ltd (formerly known as GVK Biosciences) is a company that works in discovery, development, and manufacturing solutions. They offer differentiated contract research organization (CRO) and contract development and manufacturing organization (CDMO) solutions for small and large molecules. The private equity arm of Goldman Sachs Asset Management acquired a significant 33% minority […]
The Saudi Development Fund plans to support African countries with investments and loans worth about US$ 1 billion for 2021 to help their economies recover from the COVID-19 pandemic, according to remarks from Saudi Crown Prince Mohammed bin Salman said on May 18, 2021. “Saudi Development Fund will carry out future projects, loans and grants […]
DAILY DOSE: May 18, 2021
Posted on 05/18/2021
1. Google unveils new model called Mum to improve complex searches. Google says it will build quantum computer by 2029 with aim of performing large-scale calculations without errors.
2. JPMorgan Chase & Co. told its U.S. office staffers that they will no longer be required to wear masks if they got their COVID shots.
3. House Speaker Nancy Pelosi joined a chorus of people for a diplomatic boycott of the 2022 Winter Olympics scheduled to take place in Beijing.
4. BOUGHT THE DIP: MicroStrategy bought about 229 bitcoins for US$ 10,000,000 at average price of about US$ 43,663 per Bitcoin.
5. U.S. Treasury Secretary Janet Yellen is calling for American business leaders to pay higher taxes to support President Joe Biden’s infrastructure program.