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Armenian investment firm Balchug Capital has successfully completed its acquisition of OOO Goldman Sachs Bank in Russia, a deal valued at approximately $2 billion. The bank will operate under a new name, and Balchug aims to support international investors divesting from Russia while ensuring compliance with local and international regulations. Founded in 2010 by David Amaryan, Balchug has also acquired significant commercial real estate assets, including Pulkovo Sky in St Petersburg and the Metropolis shopping center in Moscow.
BNP Paribas is in discussions with the European Central Bank regarding its acquisition of an AXA unit through its insurance arm. The ECB is evaluating whether the transaction qualifies for the Danish Compromise capital framework or should be classified as an asset management acquisition, which would not be eligible for favorable treatment.
Citi has appointed Christopher Chan from Goldman Sachs to lead its Asia-North and South markets solutions for financial institutions. This strategic move aims to enhance Citi's offerings in the region, reflecting its commitment to strengthening financial services.
Yahoo is poised to acquire the Chrome browser if Google is compelled to divest it. This potential move highlights the ongoing shifts in the tech landscape and the competitive dynamics among major players in the industry.
Goldman Sachs specializes in investment services, with revenues primarily derived from investment banking (64.9%), asset and wealth management (30%), and financial services (5.1%). Geographically, 63.4% of revenues come from the Americas, followed by Europe/Middle East/Africa at 25.4% and Asia at 11.2%. The firm is also expanding into acquiring stakes in fast-growing technology companies.
Banco BPM has officially rejected UniCredit's $14.8 billion takeover offer, citing the valuation as "totally inadequate and incorrect," which would disadvantage its investors. Chairman Massimo Tononi expressed concerns over unmet conditions in UniCredit's proposal during a conference call. The offer period runs from Monday to June 23, with withdrawal rights until June 30.
Deutsche Bank has been appointed as the depositary bank for two sponsored Level 1 American Depositary Receipt Programs of Epiroc Aktiebolag. The programs include the OTC Class A share ADR Program (EPOAY) and the OTC Class B share ADR Program (EPOBY).
Banco BPM has officially rejected the takeover offer from UniCredit. The decision underscores Banco BPM's commitment to its independent strategy amidst ongoing discussions in the banking sector.
BNP Paribas's CEO Jean-Laurent Bonnafe expressed optimism about seizing opportunities amid a trade war-induced economic slowdown, despite the bank's mixed first-quarter results showing a 4.9% drop in net income to €2.95 billion. While revenues surged in its investment banking division, rising costs and sluggish retail performance, particularly in Italy, raised concerns among investors, leading to a 1.7% drop in shares. Bonnafe reaffirmed the bank's growth targets for 2024-26, emphasizing the need for European reinvestment amid fiscal spending plans.
Banco BPM has formally rejected UniCredit's €13 billion takeover bid, citing the offer's low price and potential penalties for its shareholders. The bank's chairman criticized UniCredit for unmet conditions and noted that the proposed share exchange would undervalue Banco BPM's contribution to future profits.
Industry Mergers & Acquisitions
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Armenian firm Balchug Capital completes acquisition of Goldman Sachs Bank in Russia
08:49 25.04.2025
bnp paribas negotiates with ecb over axa unit acquisition classification
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Citi appoints Christopher Chan to lead Asia market solutions for financial institutions
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Yahoo poised to acquire Chrome browser if Google divests in 2025
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goldman sachs revenue breakdown highlights investment banking and global reach
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banco bpm rejects unicredit merger proposal citing inadequate valuation
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Deutsche Bank named depositary bank for Epiroc's ADR programs
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Banco BPM rejects UniCredit takeover proposal
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18:37 24.04.2025
banco bpm rejects unicredit takeover bid citing low price and shareholder concerns
18:25 24.04.2025
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