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Mergers and Acquisitions Divestments

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  • AstraZeneca divests gastrointestinal drug for $215 mln Thursday, 9 Jul 2015 | 3:07 AM ET

    LONDON, July 9- AstraZeneca struck a further "externalisation" deal on Thursday to help fill its short-term revenue gap by divesting its gastrointestinal drug Entocort for $215 million. The transaction is expected to complete in the second half of 2015 and AstraZeneca said it would reinforce its strategic focus on selected therapy areas, such as cancer,...

  • July 7- Software security company Symantec Corp is in talks to sell its Veritas data storage business to private equity firm Carlyle Group LP, a person familiar with the matter said on Tuesday. Bloomberg News reported earlier that Symantec was nearing a deal to sell Veritas to Carlyle for between $7 billion and $8 billion, citing people with knowledge of the...

  • July 7- Software security company Symantec Corp is in talks to sell its Veritas data storage business to private equity firm Carlyle Group LP, a person familiar with the matter said on Tuesday. Bloomberg News reported earlier that Symantec was nearing a deal to sell Veritas to Carlyle for between $7 billion and $8 billion, citing people with knowledge of the...

  • TORONTO, June 30- Cenovus Energy Inc, Canada's second-largest independent oil producer, said on Tuesday it has agreed to sell its portfolio of oil and gas royalty properties to Ontario Teachers' Pension Plan for about C $3.3 billion. As Reuters first reported this month, the decision to sell the unit, Heritage Royalty Ltd, to Teachers' Natural Resources Group was...

  • TOKYO, June 30- General Electric Co said it would sell its European private equity financing business to a unit of Japan's Sumitomo Mitsui Banking Corp for about $2.2 billion as the U.S. conglomerate sheds financial assets amid a restructuring. This makes the deal attractive to the core banking unit of Japan's third largest bank, Sumitomo Mitsui Financial...

  • TOKYO, June 30- General Electric Co is close to selling its European private equity financing unit to Japan's Sumitomo Mitsui Banking Corp for more than $2 billion, a person with direct knowledge of the matter said, as the U.S. industrial conglomerate sheds its financial assets amid a restructuring. This makes the deal attractive to the core banking unit of...

  • TORONTO, June 29- General Electric on Monday said it agreed to sell its fleet management arm in the United States, Mexico, Australia and New Zealand to Canada's Element Financial for $6.9 billion, moving it a step further in its plan to shed financial assets. The sale is part of a plan unveiled in April to divest about $200 billion in GE Capital assets as it moves away...

  • June 29- Canada's Element Financial Corp said it will buy General Electric Co's fleet management operations in the United States, Mexico, Australia and New Zealand for C $8.6 billion in cash. The sale would be part of a plan it unveiled in April to divest about $200 billion in GE Capital assets as it moves away from finance and focuses on manufacturing industrial...

  • TORONTO/ NEW YORK, June 26- Canada's Element Financial is close to buying a large chunk of General Electric Co's vehicle fleet-management business in a deal that could be sealed as early as the end of June, three sources familiar with the matter said on Friday. The sale would be part of a plan it unveiled in April to divest about $200 billion in GE Capital assets as it...

  • June 25- Oil and natural gas producer Magnum Hunter Resources Corp said it expected to raise $600- $700 million by selling its 45.53 percent stake in its natural gas gathering subsidiary, Eureka Hunter Holdings. Magnum Hunter had $13.7 million in cash and cash equivalents and total debt of $951 million as of March 31, according to Thomson Reuters data.

  • Magnum Hunter looking to divest stake in pipeline unit Thursday, 25 Jun 2015 | 6:40 AM ET

    June 25- Oil and natural gas producer Magnum Hunter Resources Corp said it expected to raise $600- $700 million by selling its 45.53 percent stake in its natural gas gathering subsidiary, Eureka Hunter Holdings. The potential deal would allow Magnum Hunter to restructure its balance sheet and improve its current liquidity position, the company said.

  • WASHINGTON, June 24- Zimmer Holdings Inc said it closed a $14 billion deal to buy rival orthopedic products maker Biomet Inc on Wednesday shortly after winning U.S. antitrust approval on condition that it divest certain assets. Zimmer said in a statement that with the acquisition it was changing its name to Zimmer Biomet Holdings, Inc. The assets to be sold...

  • WASHINGTON, June 24- Zimmer Holdings Inc has won U.S. antitrust approval to buy rival orthopedic products maker Biomet Inc on condition that it divest certain assets, the Federal Trade Commission said on Wednesday. Zimmer had said when it announced the proposed transaction in April 2014 that the $13 billion deal would double the size of its spine and dental...

  • LONDON, June 22- GlaxoSmithKline has agreed to sell two meningitis vaccines to Pfizer to satisfy antitrust concerns after its recent acquisition of vaccines business of Novartis. The British drugmaker said on Monday that the total consideration for the sale of its Nimenrix and Mencevax products to Pfizer's Irish unit, including some deferred payments, was...

  • NEW YORK, June 7- General Electric Co is nearing an agreement to sell its private-equity lending unit to Canada's biggest pension fund, the Wall Street Journal reported on Sunday. GE and the Canada Pension Plan Investment Board are aiming to sign the deal Monday, the WSJ said, citing people familiar with the matter. Terms are still being negotiated for a takeover...

  • LONDON/ RIO DE JANEIRO, June 3- Indebted Brazilian oil company Petrobras has brought in Bank of America Merrill Lynch to help manage a multi-billion dollar divestment plan and has already contacted major oil companies who might be interested buyers, three sources familiar with the matter said on Wednesday. Petrobras, whose total debts of some $170 billion make...

  • May 26- Canadian miner Barrick Gold Corp said it would sell 50 percent stake in its unit that manages the Porgera gold mine in Papua New Guinea to China's Zijin Mining Group Co Ltd for $298 million in cash. The deal, a part of Barrick's plan to reduce net debt by at least $3 billion by the end of the year, comes a day after the world's largest bullion producer sold its...

  • May 26- Canadian miner Barrick Gold Corp said it would sell 50 percent stake in its unit that manages the Porgera gold mine in Papua New Guinea to China's Zijin Mining Group Co Ltd for $298 million in cash. The unit, Barrick Niugini, owns 95 percent in the Porgera mine and the Papua New Guinea owns the rest. After the sale, Zijin and Barrick will jointly control Barrick...

  • May 14- Telecommunications tower operator Crown Castle International Corp said it would sell its Australian unit for about A $2 billion in cash to a group of investors led by Macquarie Infrastructure and Real Assets. Crown Castle owns a 77.6 percent stake in the unit- Crown Castle Australia- which claims to be the largest independent tower operator in...

  • *Deal could grow by $500 mln to meet more Telefonica payments. HONG KONG, May 8- Hutchison Whampoa Ltd said it plans to sell a one-third stake in its British mobile phone business for $4.3 billion to five investors- a move that will help the Hong Kong ports-to-telecoms group fund its boldest bet in Europe yet. Hutchison, owned by billionaire Li Ka- shing, agreed in...