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Divestments

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  • SYDNEY, April 10- Australia's largest private land owner will sell its cattle operations, including the world's largest ranch and an area equivalent in size to South Korea, to raise cash for other businesses and investments. S. Kidman& Co said it will sell its privately owned 11 cattle stations and a feedlot, complete with more than 200,000 head of cattle and more...

  • April 9- Investment bank Jefferies Group LLC, owned by Leucadia National Corp, said it will sell most of its Bache unit's futures business to Societe Generale. Societe Generale said in a statement on Thursday that the transaction covered mostly futures execution and clearing activities. Societe Generale's shares were slightly up at 46.54 euros in Paris.

  • April 9- Investment bank Jefferies Group LLC, owned by Leucadia National Corp, said it will sell most of Bache unit's futures business to Societe Generale. Jefferies also said it bought Faros Trading LLC, the institutional foreign exchange brokerage unit of retail currency broker FXCM Inc.. Societe Generale's shares were slightly up at 46.54 euros in Paris.

  • April 2- United Technologies Corp said it brought back Robert Leduc to be president of its Sikorsky helicopter unit, which the company is planning to spin off. Leduc had retired from United Tech, which makes parts for Boeing Co and Airbus, in 2014 after a 35- year stint at the company. The appointment, effective immediately, comes less than a month after United Tech...

  • HANOI, April 1- Vietnam needs to quicken the privatization of state-owned enterprises as well as divestment from non-core businesses to raise capital and boost performance, the country's prime minister said on Wednesday. Vietnam has been striving to trim state stakes in SOEs, many of which have low profitability and high levels of non-performing loans.

  • TOKYO, March 31- Citigroup Inc has agreed to sell its credit card unit in Japan to Sumitomo Mitsui Trust Bank, the companies said on Tuesday, as the U.S. bank slims down globally to bolster its profitability. The transaction is expected to close by the end of the year, Citigroup and Sumitomo Mitsui Trust Holdings Inc said in separate statements.

  • NEW YORK, March 30- Morgan Stanley has agreed to sell a compressed natural gas business that came under regulatory scrutiny shortly after its launch last year, according to a document obtained by Reuters and three people familiar with the matter. Two Morgan Stanley managers who were involved with Wentworth, Alberto Chiesara and Ryan Comerford, are leaving to...

  • March 3- Citigroup Inc said it has agreed to sell its consumer finance unit OneMain Financial Holdings Inc to subprime lender Springleaf Holdings Inc for $4.25 billion in cash. The consumer finance company is part of Citi Holdings, which Citigroup created during the financial crisis to park assets that it wanted to eventually divest or wind down.

  • March 3- Citigroup Inc said it has agreed to sell its consumer finance unit OneMain Financial Holdings Inc to subprime lender Springleaf Holdings Inc for $4.25 billion in cash. The sale of OneMain is a major step in the No. 3 U.S. bank's plan to sell unwanted assets and focus on wealthier clients. OneMain is part of Citi Holdings, which Citigroup created during the...

  • LONDON, March 2- GlaxoSmithKline and Novartis said on Monday they had completed a series of asset swaps worth more than $20 billion that will reshape both drugmakers. GSK is forming a consumer health joint venture with Novartis, while at the same time buying the Swiss company's vaccines business and divesting its cancer drugs portfolio to Novartis.

  • FRANKFURT, Feb 27- German utility RWE said on Friday that completion of the sale of its oil and gas unit DEA to Russian tycoon Mikhail Fridman was imminent, following a media report that it would be concluded on Monday. The deal was first announced just under a year ago but ran into difficulties in being cleared in Britain in view of the economic sanctions imposed on...

  • Moller-Maersk will hand shareholders a $6.6 billion windfall in dividends this year after it sells its 20 percent stake in Denmark's biggest bank Danske. Analysts had expected Maersk to announce the divestment of some assets on Wednesday as part of its strategy of focusing on its core shipping and oil divisions- but the Danske Bank stake had not been among the...

  • TORONTO, Feb 24- Turquoise Hill Resources Ltd on Tuesday agreed to sell the remainder of its stake in SouthGobi Resources, in an attempt to finally sever ties with the Mongolian coal miner that was once worth over C $3 billion. Turquoise Hill, a unit of Rio Tinto, in July agreed to sell the majority of its stake in SouthGobi to Hong Kong- listed National United...

  • MILAN, Feb 12- UniCredit has signed a deal to sell its UCCMB bad loan management unit and a pool of non-performing loans to U.S. investment firm Fortress Investment Group, as the Italian bank sheds non-core assets to boost its balance sheet. UniCredit said on Thursday the bad loan portfolio being sold had a gross book value of 2.4 billion euros.

  • Feb 9- Canada's Uni-Select Inc said it would sell its U.S. auto parts distribution business to activist investor Carl Icahn's investment company Icahn Enterprises LP for about $340 million. Icahn Enterprises said in a regulatory filing that the business acquired from Uni-Select would be operated independently from its auto parts subsidiary...

  • Feb 9- Canada's Uni-Select Inc said it would sell its U.S. auto parts distribution business to an affiliate of Icahn Enterprises LP for about $340 million. The deal includes nearly all the assets of Uni-Select USA Inc and Beck/Arnley Worldparts Inc and excludes Uni-Select's FinishMaster paint and coatings business. Uni-Select said it expected to incur an...

  • Kodak Selling Two Businesses to UK Pension Fund Monday, 29 Apr 2013 | 11:29 AM ET

    The $650 million agreement would also settle the fund's claims of about $2.8 billion against the bankrupt company.

  • INR/USD to Hover Around 54 Mark: Pro Thursday, 14 Feb 2013 | 7:40 PM ET
    INR to Hover Around 54/USD Mark For Next 12-Months: Pro

    Rahul Bajoria, Regional Economist, Barclays explains why the Indian rupee is set to hover near the 54 level over the next 12 months.

  • Cisco Sells Home Networking Business to Belkin Thursday, 24 Jan 2013 | 8:28 PM ET

    Cisco Systems is selling its home networking business to Belkin, the networking giant's latest move to exit the consumer business.

  • Divesting for Cash or Reinvestment? Wednesday, 16 Jan 2013 | 4:40 AM ET
    Divesting for Cash or Reinvestment?

    Pip McCrostie, global chair of E&Y, talks about their survey on companies monetizing non-core assets as a short term tool to make cash.