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Divestments

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  • HONG KONG/ SINGAPORE, Dec 16- Standard Chartered is selling its Hong Kong and Shenzhen consumer finance businesses to a consortium that includes a Chinese state firm, helping the emerging markets-focused lender to clinch its biggest asset disposal as part of a restructuring. In what is expected to be the first of many divestitures, Standard Chartered has...

  • ADM to sell cocoa business to Olam for $1.3B Monday, 15 Dec 2014 | 8:02 PM ET

    CHICAGO— Archer Daniels Midland says it has agreed to sell its global cocoa business to Olam International for $1.3 billion. ADM's cocoa unit includes facilities in several countries, including Brazil, Canada, Germany, Ghana and Singapore. The Chicago- based company said Monday that a majority of the roughly 1,550 employees in the cocoa business will transfer...

  • Dec 15- Emerson Electric Co said it would sell its power transmission unit to Regal Beloit Corp, a maker of electric motors, for $1.44 billion as it streamlines its business. Regal Beloit's shares rose 6 percent premarket on Monday on the deal, the company's biggest acquisition. Regal Beloit was competing with ball bearings maker Timken Co, brake and clutch maker...

  • Dec 15- Emerson Electric Co said it would sell its power transmission business to Regal Beloit Corp, a maker of electric motors, for $1.44 billion. The deal comprises $1.4 billion in cash and assumption of certain post-retirement liabilities, Emerson said. The unit had revenue of more than $600 million in 2014 and employed more than 3,000 people, the company said.

  • Dec 10- The change atop United Technologies Corp has set off speculation the U.S. conglomerate may eventually shake up its diverse industrial businesses, including possibly divesting its Sikorsky helicopter unit. Shares of United Technologies have climbed 4 percent since the company announced on Nov. 24 that Chief Financial Officer Greg Hayes replaced...

  • Rayonier names new CFO, Kiker moving to new post Wednesday, 10 Dec 2014 | 10:36 AM ET

    JACKSONVILLE, Fla.— Rayonier said Wednesday that it has hired Mark McHugh as its chief financial officer, succeeding H. Edwin Kiker who is moving to the newly created post of chief accounting officer. Rayonier CEO David Nunes said McHugh "has been a valued advisor" to the company's top management in the months since the spin-off of its performance fibers business.

  • NEW YORK, Dec 9- Phibro, the storied energy trading firm run by famed oil investor Andrew Hall, is winding down in its current form, laying off some U.S. employees and pursuing a sale of some overseas operations, sources said on Tuesday. The divestment by Occidental Corp, which bought Westport, Connecticut- based Phibro from Citigroup Inc five years ago, will allow Hall...

  • NEW YORK, Dec 2- Brazil's Vale SA is considering the sale of a minority stake in its base metals division through an initial public offering as it looks to raise cash for core projects amid lower commodity prices, its CEO said on Tuesday. Vale Chief Executive Murilo Ferreira told investors in New York that the IPO would only take place if market conditions were "...

  • SEOUL, Nov 24- U.S. automotive parts maker Visteon Corp has signed a preliminary deal to sell its controlling stake in South Korea's Halla Visteon Climate Control Corp to a local private equity firm for $3.6 billion, Korean media reports said. The Korea Economic Daily said on Monday Visteon plans to sign a final deal to sell its 69.99 percent stake in Halla Visteon...

  • *Telecom Italia to sell Brazilian towers for over 900 mln euros. MILAN/ BARCELONA, Nov 21- Telecom Italia will examine a possible tie-up between its Brazilian unit Tim Participacoes and local group Oi, it said as it announced the sale of mobile phone masts for more than 900 million euros. Telecom Italia, which owns 66.5 percent of TIM Participacoes, said after a board...

  • *Enel selling Endesa shares at 13.5- 13.8 euros- sources. *Enel selling minimum of 17 pct of Endesa. MILAN, Nov 19- Italy's biggest utility Enel is on track to raise up to 3.2 billion euros from the sale of shares in its Spanish subsidiary Endesa, three sources with knowledge of the deal said on Wednesday.

  • EL SEGUNDO, Calif., Nov 18- Boeing Co said this week it is reevaluating its cybersecurity business and could divest or reassign some units as it focuses more on a few critical areas, including classified work it is doing for some U.S. government agencies. Boeing, the Pentagon's No. 2 supplier and the world's largest aerospace company, bought a handful of...

  • SYDNEY, Nov 19- Australian explosives maker Orica Ltd said on Wednesday it had agreed to sell its chemicals business to funds advised by U.S. private equity firm Blackstone Group LP for A $750 million. Orica also reported a 2 percent increase in full-year statutory net profit to A $602.5 million, from A $592.5 million, and said that volatility and uncertainty in...

  • Geron sells last drug in pipeline to J&J unit Thursday, 13 Nov 2014 | 6:27 PM ET

    Nov 13- Geron Corp licensed its cancer compound, the last in its pipeline, to a unit of Johnson& Johnson for up to $935 million, sending its shares up as much as 33 percent in extended trading. The license deal comes as a welcome break to the company, which has seen its stock price drop from a high of $71.69 in 2000 to $2.31 on Thursday. If successful, imetelstat would...

  • LONDON, Nov 13- Apollo Global Management is planning to bid for all GlaxoSmithKline's mature drugs, joining an auction expected to value the business at more than $3 billion, according to four people familiar with the process. GSK, Britain's biggest drugmaker, is looking to divest its mature prescription medicine products sold in North America and western...

  • Goldman Sachs sells $285M in hedge fund holdings Wednesday, 5 Nov 2014 | 1:41 PM ET
    Goldman Sachs signage on the floor of the New York Stock Exchange.

    To ensure compliance with the upcoming Volcker Rule, Goldman Sachs is getting rid of its hedge fund investments, reports the New York Times.

  • LONDON, Nov 4- The sale of the Milford Haven refinery and terminal assets to Klesch Refining Limited has been canceled, according to a statement by Murco Petroleum, a subsidiary of the U.S.-based Murphy Oil Corporation. Sources familiar with the matter said earlier on Tuesday that Gary Klesch and Murphy Oil had extended a deadline to later this week to negotiate...

  • REFILE-Comcast spin-off to list on Nasdaq in 2015 Friday, 31 Oct 2014 | 2:40 PM ET

    Oct 31- Midwest Cable Inc, the cable company to be spun off from Comcast Corp after it buys Time Warner Cable Inc, said it would list its Class A common stock on the Nasdaq under the symbol "GLCI" in 2015.. Comcast said in April it would divest 2.5 million subscribers across the U.S. This was part of a three-way deal between Comcast, Charter Communications Inc and Time...

  • HOUSTON, Oct 27- Venezuela's surprise move to scrap the sale of its U.S. refining unit Citgo was prompted when bids came in well below its $10 billion asking price, and sovereign and corporate bondholders criticized selling a reliable source of cash during a liquidity crunch, a source familiar with the situation said on Monday. State oil company PDVSA had hired...

  • LONDON, Oct 14- GlaxoSmithKline is seeking binding bids by next month for a range of older drugs worth more than $3 billion, which it is likely to sell by geographical region, according to people with direct knowledge of the process. Britain's biggest drug maker is looking to divest the mature products in a bid to improve its growth profile and wants to dispose of...