FRANKFURT - New solar installations reached a fresh record of 7.5 gigawatts (GW) in Germany in 2011, playing into the hands of advocates for steeper cuts in tariff subsidies to reduce growth of solar power and the resulting higher costs for consumers.
Khazanah launches up to $360 million stake sale in AIA: IFR
HONG KONG |
HONG KONG (Reuters) - Malaysia's state investor Khazanah Nasional Bhd KHAZA.UL launched on Wednesday an up to $360 million offering of shares in AIA Group (1299.HK), IFR reported, citing a term sheet of the transaction.
Khazanah, through its Mount Swettenham Investments unit, is offering 92.35 million AIA shares in a range of HK$29.84-HK$30.20 each, equivalent to a discount of up to 1.2 percent to Wednesday's close, added IFR, a Thomson Reuters publication.
The selldown comes ahead of the expiration of a lockup on AIA shares by American International Group (AIG.N) this week, when the U.S. insurer will be free to sell a stake worth $6.4 billion at current market prices.
Bank of America Merrill Lynch was hired as sole bookrunner on the AIA stake sale.
(Reporting by Fiona Lau of IFR and Elzio Barreto; Additional reporting by Clement Tan; Editing by Muralikumar Anantharaman)
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