Capital Goods Industrial Conglomerates

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  • HONG KONG, April 14- McDonald's Corp is targeting private equity firms, including Bain Capital, MBK Partners, TPG Capital Management and Chinese state-backed conglomerate China Resources for its planned sale of 2,800 restaurants in North Asia, people familiar with the matter told Reuters. The U.S. fast food giant is adopting a new business model in Asia, which is...

  • LIMA, April 12- Brazil- based Votorantim Industrial SA raised its stake in the Peruvian polymetallic miner Milpo to 80.24 percent from 60.07 percent in a 579 million sole acquisition of shares, the company said on Tuesday. Votorantim, Brazil's largest diversified industrial conglomerate, paid 2.18 soles a share in the transaction. Votorantim has been taking...

  • April 12- General Re, one of Berkshire Hathaway Inc's largest insurance units, said Chief Executive Officer Tad Montross is retiring, in a move that will expand the role of Ajit Jain, long viewed as a potential successor to Warren Buffett at Berkshire's helm. Montross, 60, will step down by year end, after serving as Gen Re's chairman and CEO since 2008, a spokeswoman...

  • LONDON, April 12- Britain is considering a number of different options to co-invest in the purchase of steelmaking assets put up for sale by Indian conglomerate Tata Steel, Business Secretary Sajid Javid said on Tuesday. The government is under pressure to keep Tata's British steel plants open after Tata said last month that it was selling up in Britain.

  • DUISBURG, Germany, April 11- Half of Germany's steelworkers poured onto the country's streets on Monday in protest against the dumping of Chinese steel, EU climate regulations and industry consolidation they fear will cost them their jobs. The size of the demonstrations, organised by powerful trade union IG Metall and supported by Economy Minister Sigmar...

  • *Wants competitive power prices from UK government. MUMBAI, April 7- Sanjeev Gupta, the boss of metals trader Liberty House Group who wants to buy Tata Steel Ltd's loss-making British operations, says he has the financial resources to match his ambitions. Hitting back at critics who have questioned his capacity to take on a business dragged down by heavy debt and...

  • TOKYO, April 7- The veteran boss of retail group Seven& i Holdings Co Ltd, who pioneered 24- hour convenience stores in Japan four decades ago, said on Thursday that he is stepping down to take responsibility for a failed management reshuffle. The patriarch's sudden departure without a named successor creates a power vacuum at the sprawling conglomerate, with its...

  • ISTANBUL, April 5- Turkey's Sabanci Holding plans to sell a minority stake in the electricity distribution and energy retail businesses of its Enerjisa subsidiary to cut debt ahead of Enerjisa's initial public offering, a senior executive said on Tuesday. Sabanci, one of Turkey's largest conglomerates, expects to float Enerjisa as early as the end of next year,...

  • DUBAI, April 5- Al Jaber Group missed a March repayment on its $4.5 billion restructuring, three sources aware of the matter told Reuters on Tuesday, adding pressure on the Abu Dhabi- based conglomerate to quickly secure a new debt deal to save it from collapse. A spokesman for Al Jaber declined to comment. Al Jaber began speaking to creditors last year about...

  • PARIS, April 1- Construction-to-media conglomerate Bouygues said on Friday its board had been unanimous in deciding to end talks with state-controlled rival Orange over the takeover of its telecoms unit.

  • BRASILIA/ SAO PAULO, March 31- Brazilian prosecutors on Thursday charged Joseph Safra, the world's richest banker, in connection with an alleged scheme to pay bribes to government officials in return for waiving tax debts. Safra, who alongside his family owns Banco Safra SA and a number of private-banking institutions including Switzerland's J Safra Sarasin,...

  • March 31- A price war has broken out among more than 260 companies that will be allowed to sell electricity in Japan's $70 billion retail market from next month, challenging its old monopolies. From April 1, Japanese consumers will be able to buy electricity from suppliers like telecoms conglomerate Softbank, travel agency H.I.S. and trading firm Marubeni,...

  • March 30- State Street Corp said it would buy General Electric Co's asset management business for up to $485 million as the industrial conglomerate winds down its financing arm to reduce regulatory burden. GE has been disposing assets off GE Capital, a $200 billion financing business, as it seeks to return to its industrial roots. State Street had $28 trillion in...

  • NEW DELHI, March 29- India's Supreme Court has asked the markets regulator to start the process of selling some of embattled conglomerate Sahara's real estate assets in the country to refund millions of investors in its illegal bonds, lawyers said on Tuesday. Sahara, a household name in India as the former main sponsor of the national cricket team, has hotels...

  • NEW DELHI, March 29- India's Supreme Court has asked the markets regulator to start the process of selling some of embattled conglomerate Sahara's real estate assets in the country to refund millions of investors in its illegal bonds, lawyers said on Tuesday. Sahara, a household name in India as the former main sponsor of the national cricket team, has major...

  • March 28- A U.S. appeals court withdrew an opinion on Monday that it said was filed in error four days earlier in a closely watched case stemming from the 2008 bankruptcy of the media conglomerate, Tribune Co.. The 2nd U.S. Circuit Court of Appeals in New York had ruled that creditors of the Tribune Co could not claw back $8 billion paid to public shareholders nearly a...

  • SEOUL, March 24- Samsung Electronics Co Ltd, the world's biggest maker of smartphones and memory chips, announced on Thursday that it plans to adopt a corporate culture akin to a startup, seeking to become more nimble as growth slows. The flagship firm of South Korea's dominant conglomerate will also reduce the number of levels in its staff hierarchy and hold more...

  • SAO PAULO, March 23- Brazilian prosecutors said on Wednesday no plea-bargain talks are underway with executives from engineering conglomerate Grupo Odebrecht SA and that the company's public announcement of its intention to cooperate had no legal standing. Odebrecht, which had previously denied participating in a scheme to siphon money from state-run...

  • MILAN, March 23- Hitachi has bought more shares in Ansaldo STS to take its overall stake in the Italian-based rail signalling group to just under 50 percent as it strengthens its grip in a growing row with minority shareholders. In a statement on Wednesday the Japanese conglomerate said it had bought a further 6.94 million shares at 10.5 euros each to boost its...

  • NEW YORK, March 23- The U.S. Department of Justice is pushing to block the release of documents detailing how the German industrial conglomerate Siemens AG improved compliance in the wake of a sweeping bribery case, in the latest battle over how much information about corporate settlement agreements should be made public. The non-profit news organization 100...