Markets & Finance
M&A News: HSBC, Repsol, Realdania, Hecla Mining, A. Schulman
1. HSBC Holdings (HBC), Europe’s biggest bank by assets, will sell a portfolio of U.S. consumer loans to two firms for $3.2 billion, as it scales back operations to focus on more profitable markets.
2. Spain’s No. 1 oil company, Repsol (REP:GR), sold $1.3 billion worth of shares to Singapore’s state-owned Temasek Holdings to bolster its finances and protect its credit rating.
3. Copenhagen-based philanthropic organization Realdania is selling a $965 million stake in Denmark’s largest lender, Danske Bank (DANSKE:DC), to achieve a more balanced investment portfolio.
6. The world’s No. 4 brewer, Carlsberg (CABGY), plans to pay as much as $466 million to increase its stake in Chinese beermaker Chongqing Brewery to nearly 60 percent from 29.7 percent.
7. Moleskine, the Italian maker of notebooks favored by Ernest Hemingway and would-be hipsters, will seek about $455 million in an IPO, say two people with knowledge of the deal.
10. An Andy Warhol painting that charts U.S. unemployment during the recession of the early 1980s fetched $26,000 at auction.