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Mergers and Acquisitions Divestments

  • CAPE TOWN, March 22- Chevron Global Energy confirmed on Wednesday that it had signed a sales and purchase agreement with a wholly-owned subsidiary of China's Sinopec for Chevron's assets in South Africa and Botswana. Chevron said in a statement the deal hinged on regulatory approval. Sinopec said earlier on Wednesday it has agreed to pay almost $1 billion for a...

  • BRASILIA, March 17- Brazil's state-run oil company Petrobras has asked the Supreme Court to lift an injunction obtained by an oil workers' union that froze sales of its assets, including its fuels distribution unit, a court official said on Friday. Besides holding up the sale of BRL distributor, the injunction issued in November forced Petrobras to suspend talks...

  • BRASILIA, March 16- A regional oil workers' union said on Thursday that an injunction freezing sales of assets by Brazilian state-run oil company Petrobras, including its fuels distribution unit, will continue to block divestiture, despite an audit court ruling allowing sales to go ahead. "The National Oil Workers Federation's fight against the sale of...

  • BRASILIA, March 15- Brazil's federal audit court TCU on Wednesday allowed state-run oil company Petroleo Brasileiro SA to proceed with its divestment program, but required the company to restart the process except for two projects. The decision means that moves by Petrobras, as the company is known, to sell off a controlling stake in its fuels distribution unit...

  • BRASILIA, March 15- Brazil's federal audit court TCU on Wednesday allowed state-run oil company Petroleo Brasileiro SA to proceed with its divestment program, but required the company to restart the process except for two projects. The decision means that moves by Petrobras, as the company is known, to sell off a controlling stake in its fuels distribution unit...

  • NEW YORK— Citing a resurgent housing market, J.C. Penney Co. announced Monday that it is launching a home-services unit that will include the sale of heating and cooling systems and other home products. The Plano, Texas- based company will have six test programs for the unit in select markets. "There is a tremendous opportunity to capture additional revenue and...

  • JAKARTA, March 3- Indonesia will not back down from new rules requiring Freeport-McMoran to divest a majority stake in its local unit, Energy and Mineral Resources Minister Ignasius Jonan said, in a dispute over rights to the world's second-biggest copper mine. Freeport's exports of copper concentrate from its Grasberg mine have been at a standstill since...

  • FRANKFURT/ BERLIN/ ZURICH, March 2- Japan's Toshiba Corp is preparing a potential $2 billion divestment of smart meter group Landis+ Gyr, hoping to rake in capital after a major writedown on its U.S. nuclear unit last month, three people familiar with the matter said. A spokeswomen for Toshiba in Europe declined to comment. Smart meter makers have seen a wave of M&A...

  • Isuzu also markets commercial and light commercial vehicles in South Africa and Saudi Arabia. Sales in the Middle East and Africa region account for around 20 percent of annual global vehicle sales. Under Chief Executive Mary Barra, GM is steadily overhauling and pruning operations outside the United States and China, shrinking sales volume while pushing to...

  • MADRID, Feb 28- Spain's Banco Sabadell said late on Tuesday it had agreed to sell its Florida- based retail banking unit to Iberiabank Corp for $1 billion, leaving it with corporate and private banking operations in Miami. The sale, expected to close in the second half of 2017, will generate a net capital gain of 447 million euros for Sabadell, the bank said in a...

  • MADRID, Feb 28- Spain's Banco Sabadell said late on Tuesday it had agreed to sell its Florida- based retail banking unit to Iberiabank Corp for $1 billion, leaving it with corporate and private banking operations in Miami.

  • Under Chief Executive Mary Barra, the Detroit automaker is steadily overhauling and pruning operations outside the United States and China, shrinking sales volume while pushing to improve return on invested capital and profitability. GM is in talks to sell its European operations to French automaker Peugeot SA, and has shuttered or scaled back operations...

  • Paul Hammes, global divestiture advisory services leader at EY, argues that "companies have been rewarded for returning to core."

  • Feb 21- Canada's ECN Capital Corp said on Tuesday it would sell its U.S. commercial and vendor finance business to PNC Financial Services Group for about $1.25 billion in cash. ECN Capital, which was spun out of Element Financial Corp last year, said the deal includes assets worth about $1.08 billion. Macquarie Capital was ECN Capital's lead financial adviser,...

  • *Toshiba want to complete sale by end of March 2018- source. TOKYO, Feb 21- Toshiba Corp wants to raise at least 1 trillion yen from the sale of a majority stake in its flash memory chip business as a buffer against any fresh financial problems, a source with direct knowledge of the matter said. After flagging a $6.3 billion writedown on its U.S. nuclear unit earlier this...

  • *Opel business has struggled for profitability. For PSA, owner of the Peugeot, Citroen and DS brands, acquiring GM's Opel and Vauxhall brands would give it a 16.3 percent share of the European passenger car market, vaulting it into second place in the region, ahead of French rival Renault SA and behind Germany's Volkswagen AG. Germany's industrial union IG Metall...

  • TOKYO, Feb 13- Japan's Kirin Holdings Co said on Monday it would sell its Brazilian unit to Heineken NV subsidiary Bavaria S.A. for 2.2 billion Brazilian reais. The transfer will be executed immediately upon approval by Brazil's antitrust agency, Kirin said in a statement. Brasil Kirin operates 12 breweries and was created in 2011 after Kirin paid 6.3 billion...

  • MUMBAI/ LONDON, Feb 9- Tata Steel UK has signed a 100 million pound deal to sell its speciality steel business to Liberty House Group, as the firm's Indian owner Tata Steel Ltd's presses on with restructuring its European operations. The deal, which is subject to regulatory clearances, secures 1,700 jobs, mostly in South Yorkshire in the north of England, Britain's...

  • MUMBAI/ LONDON, Feb 9- Tata Steel UK has signed a 100 million pound deal to sell its speciality steel business to Liberty House Group, part of Indian owner Tata Steel Ltd's drive to restructure its European operations. Today's news also marks another important step forward in realising a more sustainable future for our Port Talbot-based supply chain in the UK, "...

  • MADRID, Feb 9- Spain's Telefonica is in talks with private equity firms KKR, CVC and Ardian as well as sovereign fund GIC about the sale of a 49 percent stake in its telecom masts subsidiary Telxius, four sources said. A successful sale would only be a small step in bringing down Telefonica's 50 billion euros of debt, but it would go a long way in showing investors its...