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Joint Ventures

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  • BERLIN, April 29- Volkswagen has no merger or acquisition plans beyond ongoing discussions with its Chinese joint venture partner FAW that may result in its increasing its stake, the carmaker's finance chief Hans Dieter Poetsch said on Wednesday. "We are in a process of negotiations with our joint venture partner, also about the possibility of an increase in our...

  • Taiwan's UMC to expand China customer base via JV factory Wednesday, 29 Apr 2015 | 6:44 AM ET

    TAIPEI, April 29- Taiwan's United Microelectronics Corp, the world's No.2 contract chip maker, intends to expand its customer base in China via its joint venture factory with the Fujian Province government, company executives said Wednesday. UMC broke ground on the factory last month in a joint ceremony with government officials and major client Qualcomm Inc,...

  • Dunnhumby and its U.S. partner, The Kroger Co, said on Monday they had agreed to change their exclusive joint venture deal, enabling Dunnhumby to work with other retailers and consumer goods companies in North America. Kroger said that as part of the deal it would take on a license to use Dunnhumby's technology and retain 500 staff to continue to find customer...

  • ATYRAU, Kazakhstan, April 21- Kazakhstan's leading oil producer has slowed its expansion plans further and cut planned spending this year in response to lower oil prices, a senior executive at Chevron's joint venture Tengizchevroil said. Kazakhstan's government reviewed Tengiz's expansion project in October 2014 and was unhappy with TCO's plans to...

  • CARACAS, April 14- Venezuelan state oil company PDVSA has offered to buy oil and gas producer Harvest Natural Resources Inc's minority stake in its Petrodelta joint venture, a source close to PDVSA said on Tuesday. The news pushed shares of Texas- based Harvest up around 129 percent to their highest level since December on apparent relief the financially...

  • CARACAS, April 14- Venezuela's state oil company PDVSA has offered to buy oil and gas producer Harvest Natural Resources Inc's stake in the Petrodelta joint venture, a source close to PDVSA said on Tuesday. The company has twice been poised to sell its minority stake but said the OPEC country blocked the transaction. In 2013 a deal with Indonesia's oil company...

  • Sears and Simon Property Group Inc said they would form a 50-50 joint venture to boost the value of 10 Sears properties at Simon-managed malls, similar to its April 1 announcement with mall operator General Growth Properties. As part of the agreement, up to half of the space Sears sold will be available for redevelopment for new tenants who will pay higher rents.

  • DUBAI, April 8- Apollo Global Management is in talks to expand its business into the Middle East for the first time through a joint venture with a local investment firm, three sources aware of the matter told Reuters on Wednesday. It is the world's third-largest alternative asset manager after Blackstone Group and Carlyle Group, and has offices in eight...

  • April 1- Sears Holdings Corp said it would form a real estate investment trust, which will buy about 254 Sears and Kmart stores in a transaction valued at more than $2.5 billion. The newly formed REIT, Seritage Growth Properties, will launch a rights offering to partially fund the purchase of the stores. In a separate deal, Sears said it would form a joint venture with...

  • CALGARY, Alberta, March 31- Canada's Keyera Corp and midstream company Kinder Morgan Inc plan to build 4.8 million barrels of new crude oil storage in the marketing hub of Edmonton, Alberta, the two companies said on Tuesday. The terminal will be a 50-50 joint venture with Keyera's share of costs expected to be C $330 million, while Kinder Morgan will potentially...

  • CALGARY, Alberta, March 31- Canada's Keyera Corp and midstream giant Kinder Morgan Inc plan to build 4.8 million barrels of new crude oil storage in the marketing hub of Edmonton, Alberta, Keyera said in a statement on Tuesday. The new terminal will be a 50-50 joint venture with Keyera's share of costs expected to be C $330 million, while Kinder Morgan will...

  • DUBAI/ ABU DHABI, March 31- Tourism Development& Investment Co has delayed fundraising plans to build Abu Dhabi's largest shopping mall in collaboration with a unit of French luxury goods firm LVMH, three sources aware of the matter told Reuters. The move by the Abu Dhabi state-owned investment fund, coupled with management changes at the joint venture and lower...

  • March 31- Medical tests maker Quest Diagnostics Inc and contract research company Quintiles said they were combining their clinical trial laboratory operations in a joint venture. Quintiles will own 60 percent of the joint venture, with Quest owning the rest, the companies said on Tuesday. The companies did not disclose the financial terms of the deal.

  • PARIS, March 31- French car parts maker Faurecia announced a joint-venture deal with Dongfeng, the Chinese state-controlled automotive group, in a move designed to increase its presence in the world's biggest autos market. Faurecia, majority-owned by PSA Peugeot Citroen, said on Tuesday the venture would target sales of 2 billion euros to Dongfeng and its...

  • Faurecia forms joint venture with China's Dongfeng Tuesday, 31 Mar 2015 | 2:40 AM ET

    PARIS, March 31- France's Faurecia on Tuesday said it had agreed to form a joint-venture with Dongfeng Motor Corporation with the objective of generating annual sales of around 2 billion euros in the medium term.

  • MILAN, March 26- Italy's Saipem is close to signing a joint venture with a big local partner in Nigeria just days after clinching a similar deal in China with PetroChina as the oil contractor seeks access to new markets. Saipem, 43 percent owned by Italian oil major Eni, has seen some 10 billion euros wiped off its market value over the past two years after two profit...

  • March 23- Tenet Healthcare Corp on Monday said it would become the largest U.S. provider of outpatient surgery services through a joint venture with United Surgical Partners International and expects to fully own the company within five years. Tenet, the third-largest U.S. hospital operator, said it will pay $425 million to private equity firm Welsh, Carson,...

  • *Agreement is latest Chinese acquisition in Italy. MILAN, March 22 (Reuters)- China National Chemical Corp (ChemChina) is to buy into Pirelli, the world's fifth-largest tire maker, in a 7.1 billion-euro ( $7.7 billion) deal that will put the 143- year-old Italian company in Chinese hands. The deal agreed with Pirelli's top shareholders on Sunday is the latest in a...

  • *Agreement is latest Chinese acquisition in Italy. MILAN, March 22- China National Chemical Corp is to buy Pirelli, the world's fifth-largest tyre maker, in a 7.1 billion-euro deal that will put the 143- year-old Italian company in Chinese hands. The deal agreed with Pirelli's top shareholders on Sunday is the latest in a series of takeovers made in Italy by...

  • March 23- Hospital operator Tenet Healthcare Corp said it would form a joint venture with United Surgical Partners International in a cash and debt transaction valued at $1.93 billion to be the largest provider of ambulatory surgery in the United States. Dallas- based USPI is controlled by private equity firm Welsh, Carson, Anderson& Stowe.