Mergers and Acquisitions Divestments

  • RIO DE JANEIRO— The board of Brazilian state-run oil giant Petrobras has approved the sale of a key natural gas pipeline unit to a group of investors led by Toronto- based Brookfield Asset Management. Petrobras says the group will pay $5.2 billion over five years to acquire a 90 percent stake in the Nova Transportadora do Sudeste unit. A Friday statement says the...

  • Sept 16- Abbott Laboratories said it would sell its eye care business to Johnson& Johnson for about $4.33 billion in cash to focus on cardiovascular devices and diagnostics business. Abbott Medical Optics, which the company acquired for nearly $1.4 billion in 2009, reported sales of $1.1 billion for 2015, J&J said on Friday. The company has sued short-selling...

  • Sept 14 (Reuters)- Specialty golf retailer Golfsmith International Inc filed for Chapter 11 bankruptcy on Wednesday and agreed to sell its Canadian retail chain to a group led by Fairfax Financial Holdings Ltd and a unit of CI Investments Inc.. Golfsmith listed both its assets and liabilities at between $100 million and $500 million, according to a filing with...

  • Sept 14- Specialty golf retailer Golfsmith International Inc filed for Chapter 11 bankruptcy on Wednesday and agreed to sell its Canadian retail chain to a group led by Fairfax Financial Holdings Ltd and a unit of CI Investments Inc.. Golfsmith listed both its assets and liabilities at between $100 million and $500 million, according to a filing with the U.S....

  • Well Fargo's shares have lost about 6 percent of their value since last week, when U.S. regulators unveiled the fines. Politicians are calling for an investigation, and Wells Fargo and regulators are expected to testify in the Senate next week. Fund administrator SS&C Technologies said the deal would add 250 employees serving more than 130 fund relationships...

  • Sept 14- Wells Fargo& Co said its unit had agreed to sell its fund administration business, Wells Fargo Global Fund Services, to SS&C Technologies Holdings Inc.

  • *Samsung Group has been divesting from non-core businesses. Samsung Electronics and the broader Samsung Group have been divesting from or exiting non-core businesses as part of a broader restructuring process for South Korea's top family-run conglomerate under the stewardship of de facto leader Jay Y. Lee. Samsung Electronics in 2014 decided to end its LED...

  • KHOBAR, Saudi Arabia, Sept 7- Saudi Basic Industries Corp has agreed to sell its Polymershapes unit to U.S. investment firm Blackfriars Corp, SABIC said without giving a value for the deal. The unit is the world's largest distributor of plastic sheet, rod, tube and film, serving over 35,000 customers with a distribution network of more than 75 branches in the United...

  • *Primavera, Ant Capital to invest $460 million in Yum China. *Yum China spinoff expected on Oct. 31. Sept 2- KFC and Pizza Hut owner Yum Brands Inc said Chinese investment firm Primavera Capital and an affiliate of Alibaba Group Holding Ltd will buy a stake in Yum China for $460 million as Yum prepares to spin off the business.

  • *Primavera, Ant Capital to invest $460 million in Yum China. *Yum China spinoff expected on Oct. 31. Sept 2- KFC and Pizza Hut owner Yum Brands Inc said Chinese investment firm Primavera Capital and an affiliate of Alibaba Group Holding Ltd will buy a stake in Yum China for $460 million as it prepares to spin off the business.

  • Sept 1- Hewlett Packard Enterprise Co is in talks with buyout firm Thoma Bravo LLC to sell its software division, hoping it can fetch between $8 billion and $10 billion, according to people familiar with the matter. Other private equity firms that made offers for the software assets include Vista Equity Partners Management LLC, Carlyle Group LP and TPG Capital LP,...

  • Aug 29- Building supplies maker USG Corp said it would sell its building product distribution business, L&W Supply Corp, to roofing supplier ABC Supply Co Inc for $670 million in cash.

  • Aug 23- American International Group Inc is in early talks to sell Lloyd's of London Ltd's insurance operations to Canada Pension Plan Investment Board, the Wall Street Journal reported on Tuesday. AIG, the largest commercial insurer in North America, has been cutting jobs and trying to restructure its business as part of a sweeping overhaul promised to...

  • AIG, the largest commercial insurer in the United States and Canada, said it would get $2.2 billion in cash, $250 million in Arch Capital's perpetual preferred stock and $975 million in non-voting common-equivalent preferred stock from the sale of United Guaranty Corp.. The Wall Street Journal first reported AIG's deal with Bermuda- based Arch Capital...

  • LONDON, Aug 3- A consortium led by private equity firm Apollo Global Management has emerged as the frontrunner for Anglo American's metallurgical coal mines in Australia, valued at up to $1.5 billion, two sources familiar with the matter told Reuters. Anglo American, like its peers, is selling off prized assets after a prolonged commodities rout that has left it...

  • Aug 2- Aetna Inc said on Tuesday that it no longer planned to expand its Obamacare business next year, and the U.S. health insurer announced the sale of some Medicare Advantage assets as it fights to gain antitrust regulators' approval for its takeover of Humana Inc.. U.S. Department of Health and Human Services spokeswoman Marjorie Connolly said the exchanges...

  • *Sells some Medicare Advantage assets for Humana deal nod. Aug 2- Aetna Inc said it intended to withdraw plans to expand its Obamacare business next year, and the U.S. health insurer announced the sale of some Medicare Advantage assets to get antitrust nod for its takeover of Humana Inc.. The $117 million deal addresses "a key concern of the U.S. Department of Justice...

  • SAO PAULO, July 28- Brazil's state-run oil company Petroleo Brasileiro SA said in a statement on Thursday it is in exclusive talks for 60 days with Mexico's Alpek over the potential sale of PetroquimicaSuape and Citepe assets in Brazil's northeast. Mexico's Alpek is the petrochemicals unit of Mexican conglomerate Alfa. Petrobras, as Brazil's state oil...

  • MONTERREY, July 27- Mexico's Cemex still has around $400 million of non-productive assets identified that it could sell as part of its divestment plan, Chief Executive Fernando Gonzalez said on Wednesday. The company earlier on Wednesday said it would sell assets worth up to $2 billion in 2016 and 2017, above a previous goal of $1 billion to $1.5 billion, after a...

  • MONTERREY, July 27- Mexico's Cemex still has around $400 million of non-productive assets identified that it could sell as part of its divestment plan, Chief Executive Fernando Gonzalez said on Wednesday.