Toys R Us is looking to expand the reach to its shoppers by leasing 1500 square feet sized toy departments inside of 24 Macy’s (NYSE:M) stores for this year’s holiday season. If successful, this pop-up store concept could be used again in the future, as per the companies.
A report in Reuters says ING (NYSE:ING) has sold its Malaysian insurance unit to the AIA Group Ltd for a consideration between $ 1.5 billion to $ 1.7 billion. Though AIA was in the fray for the Thai unit too, the latter has been clubbed with the Japanese and Hong Kong operations and is to be sold to a different bidder.
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A regulatory filing by the world’s largest tax services provider, H & R Block (NYSE:HRB), reveals that the company is considering strategic alternatives for its banking unit, H&R Block Bank, which may result in it coming out from under regulation by the Federal Reserve as a savings and loan holding company.
Blackstone (NYSE:BX) announces the closure of its latest global real estate fund, Blackstone Real Estate Partners VII, after the fund raised $ 13.3 billion from more than 250 investors around the world. BREP VII is the largest opportunistic real estate fund ever raised. Jonathan D. Gray, the global head of Blackstone’s real estate business: “We are extremely appreciative to our investors for their strong support of BREP VII. We believe the current environment provides a highly attractive opportunity to generate favorable returns for them.”
Shares of Gevo (NASDAQ:GEVO) are trading higher after the company announced that Gevo’s Integrated Fermentation Technology(GIFT) received a US patent. The technology enables “a cost efficient separation of iso-butanol from other components of the fermentation broth,” and provides Gevo and its partners with a significant competitive advantage.
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