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Mergers and Acquisitions Divestments

  • COPENHAGEN, Denmark— Denmark's Dong Energy has reached an agreement to divest its oil and gas business to privately held chemicals group INEOS, saying it has reached its goal announced in November of transforming itself "into a leading, pure play renewables company." Copenhagen- based Dong Energy says the deal means "an unconditional payment" of $1.05 billion on a...

  • The logo for the Government Of Singapore Investment Corporation (GIC) is pictured in the company headquarters in Singapore

    Singapore sovereign fund GIC, which invested in UBS during the global financial crisis, said it cut its stake in the Swiss bank at a loss.

  • PARIS, May 11- Engie said it had received a binding offer from Neptune Energy for its 70 percent stake in its oil and gas exploration unit based on a value of 4.7 billion euros for 100 percent of the unit. Engie said the offer for its Exploration& Production International arm included 1.1 billion euros in decommissioning liabilities that will be deconsolidated...

  • PARIS, May 11- Engie is in advanced talks with Neptune Oil& Gas about the sale of its oil and gas exploration and production unit and a deal is imminent, a source familiar with the situation told Reuters on Thursday. The report added that Engie plans to announce it will start exclusive talks with Neptune for the sale of its 70 percent stake in Engie E&P for about 3.3...

  • *Q1 adjusted EPS of $0.16 tops estimates of $0.12. May 9- Office supply chain Office Depot Inc reported a bigger-than-expected quarterly profit as expenses fell, in part due to a lower store count, sending the retailer's shares up as much as 7 percent on Tuesday. The Boca Raton, Florida- based company is also sharpening its focus on North America by divesting its...

  • *Liberty produced in Frankfurt and Mobile, Alabama. FRANKFURT, May 8- Bayer has agreed to sell its Liberty herbicide and LibertyLink-branded seeds businesses to win antitrust approval for its acquisition of Monsanto, it said on Monday. The divestment of the two global brands, a requirement imposed by South Africa's Competition Commission on Sunday, will...

  • BRASILIA, May 5- The Brazilian Treasury has told Banco do Brasil SA subsidiary BB DTVM to redeem shares in the Investment and Stabilization Fund, which will require selling the shares over 24 months, the bank said on Friday. The sole shareholder of the FFIE is the Brazil Sovereign Fund. Separately, the Finance Ministry said the recommendation was in line with its...

  • COPENHAGEN, May 4- DONG Energy said it has reached a settlement with Daewoo Shipbuilding& Marine Engineering and Technip over who bears responsibility for construction errors concerning an offshore platform for the idled Hejre field. The settlement clears a major hurdle for the Danish company's plans to divest its oil and gas unit to focus on its growing...

  • PARIS, May 3- Finland's Nokia plans to sell its undersea cables unit, a business that underpins the global Internet, two union sources and a French government source told Reuters. The division, valued at about 800 million euros, is one of the top suppliers of undersea cable networks in the world and was bought by the telecom equipment maker last year as part its 15.6...

  • HOUSTON/ SAO PAULO, May 2- Oil's lackluster price performance this year is unlikely to hamper Petróleo Brasileiro SA's plan to divest up to $21 billion worth of assets or find partners for exploration and refining by the end of next year, Chief Executive Officer Pedro Parente said on Tuesday. Speaking at the Offshore Technology Conference in Houston, Parente...

  • Community Health has a debt load of $14.69 billion and the company had said in February it would divest 25 hospitals. Net loss attributable to Tenet's shareholders narrowed to $53 million, or 53 cents per share, in the first quarter ended March 31, from $59 million, or 60 cents per share, a year earlier. Excluding items, Community Health earned 8 cents per share from...

  • COPENHAGEN, April 27- Danish energy group DONG Energy posted first quarter profit below analyst expectations on Thursday, with the lack of any wind farm divestments so far this year proving a drag. With the upcoming 50 percent divestment of its Walney Extension wind farm in the Irish Sea and the construction of its Race Bank farm off the east coast of England, DONG...

  • *Warsaw's commitment to coal expansion lowers risk for investors. WARSAW/ LONDON, April 25- Many Western banks and finance institutions have pledged to divest from coal, but this has not stopped at least one Polish utility that is expanding its use of the fossil fuel from securing funding through banks and the European Investment Bank. Furthermore, the...

  • Freeport, which resumed copper concentrate exports from Indonesia on Friday after securing a six-month permit, said it will immediately begin negotiations with Jakarta on a long-term license for Grasberg, the world's second-biggest copper mine. New rules in Indonesia require miners to divest a 51 percent stake in their operations, relinquish arbitration...

  • TORONTO/ CALGARY, April 20- BP Plc is considering the sale of its stakes in three Canadian oil sands projects, people familiar with the matter told Reuters this week, as part of the British oil company's strategy of retreating from noncore businesses. BP's 50 percent stake in the Sunrise project near Fort McMurray in Alberta, where Husky Energy Inc owns the rest and...

  • TORONTO/ CALGARY, April 20- BP Plc is considering the sale of its stakes in three Canadian oil sands projects, people familiar with the matter told Reuters this week, as part of the British oil company's strategy of retreating from noncore businesses. BP's 50 percent stake in the Sunrise project near Fort McMurray in Alberta, where Husky Energy Inc owns the rest and...

  • Blackstone, whose co-founder and chief executive Stephen Schwarzman is an economic adviser to Trump and chairs his strategic and policy forum, said the sale of assets for top dollar allowed it to pay its second highest quarterly dividend ever, equivalent to 87 cents per common unit. "In total, we will have distributed nearly $14 per common unit of value since the...

  • However, last week, Abbott agreed to the takeover at a price of around $5.30 billion down from $5.80 billion, ending the prolonged legal tussle. Alere has had some challenges and closing the deal is going to be a bit unpredictable, because Alere still needs to file its annual report and Abbott is required to divest some businesses for regulatory approvals, Abbott...

  • April 17- Pipeline operator Williams Partners LP said it would sell its stake in a unit that owns 88.46 percent of an olefins plant in Louisiana to Nova Chemicals for $2.1 billion in cash. Calgary-based Nova Chemical is owned by International Petroleum Investment Company, formed by the Abu Dhabi government to invest in the energy and related sectors.

  • April 17- Pipeline operator Williams Partners LP said it would sell its stake in a unit that owns 88.46 percent of an olefins plant in Louisiana to Nova Chemicals for $2.1 billion cash.