Michael Klein , Citigroup Inc.’s former investment banking chairman, said he was paid $10 million to advise Barclays Plc on its purchase of Lehman Brothers Holdings Inc. ’s brokerage business in the 2008 credit crisis.
Via Varejo SA’s 2.85 billion-real ($1.2 billion) equity sale is giving Brazil’s billionaire Klein family a way to cash out of the home-appliance retailer they founded after a disagreement with other owners about its value.
Michael Klein will seek next week to buy as much as 28 percent of Via Varejo SA for more than 2 billion reais ($980 million), newspaper Estado de Sao Paulo reported, without saying how it obtained the information.
Gibbs & Bruns LLP, the law firm that won an $8.5 billion settlement from Bank of America Corp. tied to faulty mortgage bonds said Wells Fargo & Co. and Morgan Stanley failed to service $73 billion of similar securities, creating a default.
Solazyme Inc. reached its highest price since April 16 on expectations that the company will meet its planned targets in a joint venture with Bunge Ltd. to build a facility in Brazil capable of producing 100,000 metric tons of oil from sugar.
Glencore International Plc’s planned $39 billion takeover of Xstrata Plc, a combination years in the making, came together in just two months after a pivotal dinner in London last year between Xstrata Chief Executive Officer Mick Davis and Glencore’s Ivan Glasenberg.