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Mergers and Acquisitions Divestments

  • The company logo of Noble Group at its headquarters in Hong Kong

    Noble shares plunged as much as 48.7 percent on Thursday after the company on Wednesday issued a profit warning and plans for asset sales.

  • *Expects Q2 net loss of up to $1.8 billion. SINGAPORE, July 26- Noble Group, once Asia's largest commodities trader, is to cut staff and sell assets, including its U.S. gas and power business to Mercuria Energy Group, as it faces a quarterly loss of up to $1.8 billion. Hong Kong- based Noble added that it would "explore strategic alliances in Asia" with Mercuria after...

  • *Expects Q2 net loss of up to $1.8 billion. SINGAPORE, July 26- Noble Group, once Asia's largest commodities trader, is to cut staff and sell assets, including its U.S. gas and power business to Mercuria Energy Group, as it faces a quarterly loss of up to $1.8 billion. Hong Kong- based Noble added that it would "explore strategic alliances in Asia" with Mercuria after...

  • LONDON, July 26- GlaxoSmithKline is swimming against the tide by getting out of treatments for rare diseases at a time when rivals like Sanofi and Shire see the field as a rich seam for profits. New GSK Chief Executive Emma Walmsley announced the strategic review and potential divestment of rare diseases on Wednesday as part of a wide-ranging drive to...

  • DETROIT— General Motors' second-quarter net profit fell more than 40 percent as the carmaker lost money on the pending sale of its European unit and warned it still faces billions of dollars in further losses to come. Revenue was $37 billion excluding Europe, falling short of analyst estimates of $40.3 billion. GM's bottom line includes a $770 million loss as it...

  • *Louis Dreyfus planning series of divestments. PARIS, July 24- Louis Dreyfus Company has agreed to sell its African fertilizer business to Helios Investment Partners, sealing the first of a series of divestments planned by Louis Dreyfus as it responds to a tough cycle for agricultural commodity traders. Helios, a private equity firm, is to acquire 100 percent of...

  • Fnac's Brazil arm is among several Brazilian appliance and consumer electronics retailers up for sale after their traditional set-up of brick-and-mortar outlets with lots of floor space and slow inventory turnover has become increasingly unsustainable in Brazil's worst recession on record. Fnac's presence in Brazil dates back to 1999.

  • *UK Horlicks and MaxiNutrition combined sales 30 mln pounds. LONDON, July 19- GlaxoSmithKline said it was considering the sale of its cephalosporins antibiotics business and intended to divest its small Horlicks business in Britain, while retaining the much bigger malted drink operation in India. In addition, GSK announced just over 300 job losses on...

  • WASHINGTON, July 19- Advocacy groups launched petitions and sent letters on Wednesday urging two of the biggest U.S. public pension funds to divest from an investment fund unless it stops paying one of President Donald Trump's companies to run a New York hotel. Reuters reported on April 26 that public pension funds in at least seven U.S. states periodically send...

  • Valeant, which bought the Irvine, California- based Obagi for about $344 million in 2013, will sell the business to Haitong International Zhonghua Finance Acquisition Fund I LP. The drugmaker has been looking to reduce its debt pile of about $29 billion as of March 31, following a furious spate of deal-making under former CEO Mike Pearson. Valeant said last week...

  • In a statement on Thursday, JBS said it had learned that Brazil's Regional Federal Court of the 1st Region overturned a ruling blocking the $300 million sale of a South American unit to rival Minerva SA. On June 21, federal Judge Ricardo Leite blocked JBS's sale of plants in Argentina, Paraguay and Uruguay, saying it could harm a probe against the billionaire...

  • *Ceconomy CEO says wants to drive consolidation. DUESSELDORF, July 12- A German court gave retailer Metro the green light on Wednesday to split its food business from its consumer electronics division, a move it hopes will allow the independent companies to pursue more acquisitions. "Ceconomy will drive the transformation and consolidation of consumer...

  • July 11- Dow Chemical Co said it had agreed to sell a portion of its corn seed business in Brazil to a unit of China's CITIC Ltd for $1.1 billion as it seeks to gain approval for its merger with DuPont from the country's antitrust regulator. Dow and DuPont announced the all-stock merger in December 2015 in one of the largest deals ever that was valued at $130 billion.

  • LONDON, July 11- Britain's Pearson has agreed to sell a 22 percent stake in the book publisher Penguin Random House to joint venture partner Bertelsmann for around $1 billion to bolster its balance sheet and return cash to shareholders. Pearson, restructuring after a string of profit warnings from its education unit, said the sale would strengthen its balance...

  • July 9- India's government is considering selling state-owned Air India in parts to make it attractive to potential buyers, as it reviews options to divest the loss-making flagship carrier, several government officials familiar with the situation said. *Hotel Corporation of India- owns two 5- star Centaur hotels in Delhi and Srinagar. *Alliance Air- operates...

  • NEW DELHI, July 9- India is considering selling state-owned Air India in parts to make it attractive to potential buyers, as it reviews options to divest the loss-making flagship carrier, several government officials familiar with the situation said. Air India- founded in the 1930 s and known to generations of Indians for its Maharajah mascot- is saddled with a...

  • BRUSSELS, June 28- The European Commission gave Austrian industrial materials maker RHI clearance on Wednesday to buy Brazil's Magnesita Refratarios after the company agreed to divest some businesses in Europe. RHI, which specialises in fireproof industrial materials, agreed to sell its production sites in Marone in Italy and Lugones in Spain as well as...

  • CHIBA, Japan, June 28- Japan's Toshiba Corp faced shareholders at its annual meeting on Wednesday with no deal in hand for the sale of its prized flash memory chip unit and a long list of humiliating setbacks to apologize for. But the conglomerate said in a statement on Wednesday that talks with some members of the preferred bidder consortium- which is led by...

  • Noble Group

    Fitch downgraded Noble, as poor liquidity and weak profitability continue to hinder the turnaround of the struggling commodities trader.

  • TOKYO, June 23- Toshiba Corp said it was open to talks with Western Digital Corp in their dispute over the sale of the Japanese conglomerate's prized chip unit- an apparent olive branch after it chose another suitor as preferred bidder. The softer tone from Toshiba comes on a day of further indignities as the crisis-wracked conglomerate saw itself demoted to the...