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Industry, Materials & Utilities Headlines

Colombia's Celsia raises $515.2 million in share issue

Colombian electricity company Celsia said on Monday it raised 1.47 trillion pesos ($515.2 million) during a share issue, funds it will use to increase its stake in another local company and to reduce debt levels.    

American Greetings LBO backed by $370 million term loan

NEW YORK (LPC) - US greeting card and stationer American Greetings’ leveraged buyout by private firm Clayton, Dubilier & Rice (CD&R) will be backed by a roughly $370 million institutional term loan, according to three sources familiar with the matter.

Air Canada expects Air China joint venture in the spring

Air Canada's chief executive on Friday said a joint venture with Air China , expected to be wrapped up this spring, would help it compete more "aggressively" in the Pacific market, after the Canadian carrier reported a better-than-expected fourth-quarter profit.

Co-owners of Russia's Nornickel back in fight for control

A power struggle over Norilsk Nickel (Nornickel) resurfaced on Friday as billionaire Vladimir Potanin offered to buy Roman Abramovich's stake in the mining group, and a third businessman - Oleg Deripaska - tried to block the deal.