SoftBank pitches 30% discount price for Uber shares

Details of the ongoing deal between SoftBank and Uber have emerged that the Japanese bank is willing to buy the shares of Scandal-hit ride-sharing company at a discount. SoftBank Group Corp. and a group of investors are trying to buy a stake in Uber Technologies Inc. at a sizable discount to the company’s $69 billion valuation, seeking to […]

UK Pearson sells Wall Street English for $300m to cut back debts

British Education group, Pearson, has agreed to sell its English language business Wall Street English (WSE) to a group of funds affiliated with Baring Private Equity Asia and CITIC Capital for $300 million, about £225 million. The transaction, rumoured to be “near” since the start of November, is expected to close in the first half […]

Purple Capital, Nigeria’s upmarket developer gets $12.5m funding for real estate development

Nigeria’s Purple Capital, developer of the iconic 6,000m² Maryland Mall, a neighbourhood shopping centre in the Ikeja district of Lagos, Tuesday received $12.5 million of funding from Vantage Capital, Africa’s largest mezzanine fund manager. Purple Capital, headquartered in Lagos, has a reputation for building a high-quality property portfolio, including upmarket residential estates in the Lekki […]

Russia, Venezuela sign $3.15bn restructuring deal

Russia signed an agreement to restructure $3.15 billion of debt owed by Venezuela, throwing a lifeline to a crisis-wracked ally that’s struggling to repay creditors. The pact gives Venezuela some breathing space as it faces the much more difficult task of restructuring its global debt owed to private lenders by the government and state entities. […]

Russia negotiating with more than 30 countries over sales of its MiG-35s

Russia is targeting export sales of at least $10 billion for the new MiG-35, the country’s most advanced jet fighter, as it prepares to offer the aircraft commercially from next year. Negotiations are underway with more than 30 countries that fly the older MiG-29 about upgrading their existing fleets or adding extra planes, Ilya Tarasenko, […]

Kenya government, banks agree to convert $405.3m of debt to equity

Kenya’s government and domestic lenders agreed to convert $405.3 million of Kenya Airways Plc debt into equity, giving the state a controlling stake and diluting other shareholders including Air France-KLM. The government, which has given Kenya Airways shilling and U.S.-dollar loans totaling $238.1 million, will increase its stake to 48.9 percent from 29.8 percent, according […]

ToLet.com.ng acquires Jumia House to trade as PropertyPro.ng

ToLet.com.ng, Nigeria’s leading online property classifieds portal, has in conjunction with their existing investors, Frontier Digital Ventures, acquired Jumia House Nigeria, a competing property portal, for an undisclosed sum. The deal was concluded Friday November 10, 2017. ToLet.com.ng will now merge the two platforms over the coming months, under the new name of PropertyPro.ng, creating Nigeria’s […]

America’s Sprint targets MVNO deals as merger with T-Mobile crashes

Sprint, America’s fourth-largest wireless carrier, is targeting mobile virtual network operators (MVNOs) to compete for market share in the wake of the collapse of its merger deal with T-Mobile. An MVNO is a wireless communications services provider that does not own the wireless network infrastructure over which it provides services to its customers. Already, Sprint […]