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.
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.
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, former Citigroup Inc. head of investment banking, helped to broker merger discussions between Glencore International Plc and Xstrata Plc, the Financial Times reported, citing people familiar with the talks.
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.
Cia. Brasileira de Distribuicao Grupo Pao de Acucar , Brazil’s biggest retailer, will invest in its Globex Utilidades SA unit and gain a larger stake under revised terms for the takeover of rival Casas Bahia Comercial Ltda.