Unipol Eyes FonSAI's Share Rights for Up to 4.9% of Capital
Italian insurer Unipol Gruppo Finanziario SpA (UNI.MI) said Wednesday it is interested in buying the share rights that weren't subscribed during the EUR1.1 billion capital increase of its peer Fondiaria-SAI SpA (FSA.MI), for up to 4.9% of FonSAI's capital.
Scotiabank to Buy ING Bank of Canada for $3.16 Billion
Bank of Nova Scotia (BNS) agreed to buy ING Bank of Canada from its Dutch parent ING Groep NV (ING) for 3.126 billion Canadian dollars (US$3.159 billion) in cash, the latest in a string of big purchases by the Canadian bank and its biggest-ever takeover.
Sears Booted From S&P 500 Over Public Float Level
Sears Holdings Corp. will be booted from the S&P 500 Index at the close of trading Sept. 4 and replaced by chemical and polymer maker LyondellBasell Industries NV , Standard & Poor's said late Wednesday.
S&P Downgrades Illinois' Credit Rating
Standard & Poor's Ratings Services cut Illinois' credit rating from a A-plus to A on Wednesday, due to the state's budget imbalance and $83 billion in unfunded pension liability.