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Buyins and Buyouts

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  • LIMA, Oct 27- Maple Energy Plc said on Monday that it expected to seal the sale of a controlling stake in its Peruvian units to Grana y Montero and Alcogroup soon, rebutting media reports the agreement had collapsed. Maple Energy's shares fell 9 percent on the Lima bourse and 8 percent in London earlier on Monday following local media reports it had rejected Grana y...

  • SINGAPORE, Oct 24- Singapore sovereign wealth fund GIC has bought a 5 percent stake in IMS Health Holdings, a U.S.-listed technology firm servicing the healthcare sector, for an undisclosed amount, according to a regulatory filing. GIC Private Ltd bought common stock of IMS Health earlier this month, according to a Securities and Exchange Commission filing on...

  • Alcoa sells stake in South Carolina smelter Thursday, 23 Oct 2014 | 4:50 PM ET

    Alcoa is selling its stake in a South Carolina aluminum smelter to Century Aluminum Co. for $67.5 million. New York- based Alcoa said in a statement that while Mt. Chicago- based Century Aluminum said Thursday that buying Alcoa's 50.3 percent stake makes it the full owner of the smelter.

  • UPDATE 1-Toyota sells some Tesla Motors shares - Nikkei Thursday, 23 Oct 2014 | 2:34 PM ET

    Oct 23- Toyota Motor Corp has sold some of its shares in U.S. electric vehicle maker Tesla Motors Inc, the Nikkei financial daily reported. Toyota invested $50 million in Tesla in May 2010, ahead of the U.S. company's initial public offering in June that year. Daimler AG, the parent of Mercedes-Benz, said earlier this week it sold its remaining 4 percent stake in Tesla...

  • Lloyds bank to cut 9,000 jobs: Sources Thursday, 23 Oct 2014 | 1:24 AM ET

    Lloyds will next week announce plans to cut 9,000 jobs over the next three years, sources familiar with the matter told Reuters.

  • *Exploring IPO of minority stake in ViiV Healthcare. LONDON, Oct 22- GlaxoSmithKline, battered by weak U.S. drug sales and a bribery scandal in China, is looking to float its fast-growing HIV drugs business as part of a recovery plan that includes a fresh round of cost cutting. As a standalone company ViiV Healthcare would be among the top 40 companies in London's...

  • *Exploring IPO of minority stake in ViiV Healthcare. LONDON, Oct 22- GlaxoSmithKline, battered by weak U.S. drug sales and a bribery scandal in China, set out a bold recovery plan on Wednesday, including an initial public offering of part of its fast-growing HIV and AIDS drugs business. As a standalone company ViiV Healthcare would be among the top 40 companies in...

  • GlaxoSmithKline holds dividend, eyes IPO of HIV unit Wednesday, 22 Oct 2014 | 7:23 AM ET

    LONDON, Oct 22- GlaxoSmithKline kept its dividend unchanged for the third quarter, breaking a run of steadily rising payouts, as U.S. pricing pressure on its top-selling lung drug Advair eroded sales and profit. It also announced a further cost-cutting programme and said it would explore an IPO of a minority stake in its HIV business ViiV Healthcare.

  • FRANKFURT, Oct 22- Daimler AG will book a $780 million windfall from the sale of its four percent stake in U.S. electric car maker Tesla Motors, a move late on Tuesday that surprised investors and fuelled speculation of a growing rivalry. The maker of Mercedes-Benz cars invested in Tesla in 2009 as a way of securing cutting edge battery technology.

  • FRANKFURT, Oct 21- Daimler AG said on Tuesday it would book a $780 million windfall from selling its 4 percent stake in rival electric car maker Tesla Motors Inc. The stake sale comes as a surprise, even though the Stuttgart- based maker of Mercedes-Benz cars insisted that a technological cooperation deal between the two carmakers remains unchanged.

  • Daimler sells stake in Tesla for $780 million Tuesday, 21 Oct 2014 | 5:33 PM ET

    Daimler AG says it has sold its 4 percent stake in electric car maker Tesla for $780 million. The Germany- based parent of Mercedes-Benz says its partnership with Tesla Motors Inc. is unaffected. Tesla shares fell $2.64, or 1.1 percent, to $232.70 in after-hours trading.

  • Excess CEO pay a 'disease': Shareholder activists Monday, 20 Oct 2014 | 9:42 AM ET
    Nell Minow

    Robert Monks and Nell Minow work to hold executives of publicly traded companies accountable to shareholders, USA Today reports.

  • Oct 17- Energy Future Holdings squared off against creditors in court on Friday as the bankrupt Texas power company sought approval to begin a multibillion dollar auction of its interest in Oncor, a power transmission business. The company anticipates an auction in February, and sources told Reuters potential bidders include NextEra Energy Inc of Juno Beach,...

  • LONDON, Oct 9- Britain is unlikely to sell any more of its remaining 25 percent stake in Lloyds Banking Group until the bailed-out lender is cleared to pay dividends again, banking and political sources told Reuters. Without regulatory approval to pay dividends, Lloyds shares are not expected to rise to a level that would enable UK Financial Investments, which...

  • NEW YORK, Oct 7- The trustee of Hubbell Inc's controlling family trusts is evaluating alternatives for their holdings, which could lead to a shakeup at the $7.2 billion U.S. electrical equipment maker, according to people familiar with the matter. The trustee, which oversees family trusts that control a significant portion of Hubbell's voting power, has tapped...

  • Oct 6- Billionaire Patrick Drahi's cable and telecoms company Altice SA is looking to acquire the Portuguese assets of Brazilian carrier Oi SA, a source familiar with the matter told Reuters. Portugal Telecom has already transferred its local assets to Oi and retains a minority stake in the enlarged carrier, Bloomberg reported on Monday, citing a source...

  • The deal with Kuwait Foreign Petroleum Exploration Co helps Chevron reduce production risk and gives it more capital to increase drilling in Alberta's Duvernay shale formation, one of North America's largest shale deposits. Chevron's Canadian subsidiary has exploration leases for about 330,000 net acres in the Duvernay shale formation.

  • Oct 6- Chevron Corp said it would sell a 30 percent stake in its Duvernay shale formation assets in Canada to Kuwait Foreign Petroleum Exploration Co for $1.5 billion. Chevron's subsidiary, Chevron Canada Ltd, has exploration leases for about 330,000 net acres in the Duvernay shale formation. The deal creates a partnership for appraisal and development of...

  • Oct 2- Sears Holdings Corp is turning to its chief executive for cash for the second time in three weeks in a sign that its efforts to sell off assets are coming up short. The retailer announced Thursday that it would raise up to $380 million by lowering its stake in Sears Canada to 12 percent from 51 percent through a rights offering. The move comes after a year-long...

  • Oct 2- Sears Holdings Corp is turning to its chief executive for cash for the second time in three weeks in a sign that its efforts to sell off assets are coming up short. The retailer announced Thursday that it would raise up to $380 million by lowering its stake in Sears Canada to 12 percent from 51 percent through a rights offering. The move comes after a year-long...