Industrial Conglomerates


  • LONDON, Sept 17- Shares in Russian oil-to-telecoms conglomerate Sistema tumbled on Wednesday after its head Vladimir Yevtushenkov was accused by Russian investigators of money-laundering in connection with the company's acquisition of oil producer Bashneft.

  • Sept 17- Activist investor Nelson Peltz's Trian Fund Management LP, which holds a $1.6 billion stake in DuPont, called on the chemical conglomerate to separate its high-growth agriculture and other businesses from units that generate strong cash flows.

  • MOSCOW, Sept 17- Russia's oil-to-telecom conglomerate Sistema said on Wednesday that the acquisition of oil assets in the Republic of Bashkortostan was legal and transparent after its chairman was placed under house arrest in connection to the deal. "Sistema's management believes that the acquisition of BashTEK group was legal and transparent.

  • ICL's parent company, conglomerate Israel Corp, set a nominal fundraising target of about $522.4 million through an initial public offering of 62 million ordinary shares, ICL said in a filing to the U.S. Securities and Exchange Commission.

  • US, EU levy sanctions on Russia despite cease-fire Friday, 12 Sep 2014 | 4:16 PM ET

    WASHINGTON— Unsatisfied with a fragile cease-fire in Ukraine, the United States and the European Union levied new sanctions Friday against major Russian banks and defense companies, as well as penalties aimed at curtailing Russia's ability to develop oil and gas projects.

  • MOSCOW, Sept 12- State-owned Rostec said on Friday new European Union sanctions would have little impact on the Russian conglomerate's arms exports or on its chief executive, an ally of President Vladimir Putin.

  • *22 euro- a-share Fosun bid 1 euro higher than Bonomi's. PARIS, Sept 12- Chinese conglomerate Fosun launched a last-minute counter offer for holiday group Club Mediterranee on Friday, outbidding Italian tycoon Andrea Bonomi hours before the deadline on a takeover saga that dates back to May last year.

  • *22 euros a share Fosun bid one euro higher than Bonomi's. PARIS, Sept 12- Chinese conglomerate Fosun launched a last-minute counter offer for holiday operator Club Mediterranee on Friday, hours before a deadline for rival proposals to a bid from Italian tycoon Andrea Bonomi.

  • HONG KONG, Sept 12- China shares rose on Friday, as August lending data helped ease some growth fears and two shipbuilding conglomerates led gains on reforms in that industry. Among top index boosts, China Shipbuilding Industry soared 5.1 percent and China CSSC Holdings surged by the 10 percent daily limit.

  • Company to set $151M trust to pay for spill damage Thursday, 11 Sep 2014 | 5:28 PM ET

    MEXICO CITY— A mining conglomerate will set up a roughly $151 million trust to pay for damage caused when one of its mines spilled acid-laced copper sulfate and heavy metals into two rivers in northern Mexico, authorities said Thursday.

  • HK regulator sues China conglomerate, ex-chairman Thursday, 11 Sep 2014 | 6:46 AM ET

    HONG KONG— Hong Kong regulators said Thursday they are suing state-owned Chinese conglomerate Citic and its former chairman in a bid to compensate investors over a huge loss related to a bungled bet on Australia's currency.

  • JOHANNESBURG, Sept 10- South African conglomerate Bidvest on Wednesday appointed Barclays and Investec as advisers for a possible listing of its food business on the London Stock Exchange.

  • DUBAI, Sept 9- A steering committee of creditors of Saudi Arabian conglomerate Ahmad Hamad Algosaibi and Brothers has been formed to negotiate its debt restructuring, Algosaibi said on Tuesday.

  • MOSCOW, Sept 9- Russian farming conglomerate Rusagro Group hopes the state will help it boost pork output to replace Western imports banned in tit-for-tat moves over Ukraine, but is still waiting for funds from a previous subsidy program.

  • GE, home appliance pioneer, gives up on consumers Monday, 8 Sep 2014 | 1:06 PM ET

    NEW YORK— General Electric, a household name for more than a century in part for making households easier to run, is leaving the home. GE, based in Fairfield, Connecticut, Monday announced the sale of its appliance division to the Swedish appliance maker Electrolux for $3.3 billion.

  • Sept 8- Grupo Aval, Colombia's largest banking conglomerate, said it expects to raise $1.1 billion through an initial public offering in the United States. The group said it expects to list its American Depositary Shares on the New York Stock Exchange under the symbol "AVAL". It listed JP Morgan and Goldman Sachs as underwriters for the IPO.

  • NEW DELHI, Sept 8- The jailed chief of India's Sahara conglomerate has won 15 days more from the Supreme Court to use his makeshift office in prison to negotiate the sale of his group's trophy overseas hotels and raise $1.7 billion in bail money.

  • NEW DELHI, Sept 5- India's Sahara conglomerate would rather mortgage its trophy overseas hotel properties than sell them to raise the $1.7 billion in bail money for its jailed chairman, a senior company executive told Reuters.

  • However, a successful sale of the masts would help Vimpelcom cut Wind's debt, which stood at 9.6 billion euros in June and has so far proved one of the hurdles to a proposed merger with 3 Italia, the smallest of the country's four network operators behind Telecom Italia, Vodafone and Wind, the sources said.

  • JOHANNESBURG, Sept 1- South African conglomerate Bidvest is considering a London stock market listing for its food business to help to fund future growth, the company said after announcing an 11 percent rise in annual profit.