Business Strategy Joint Ventures

  • SAO PAULO, Sept 26- Samarco Mineração SA, the Brazilian iron ore mining joint venture that suspended operations in November following a dam disaster, missed an interest payment on a $500 million bond that was due on Monday, trustee Bank of New York Mellon Corp said. As a result, Samarco will have 30 days to make the payment, or else investors holding at least 25...

  • Sept 14- Power plant operator American Electric Power said it would sell four of its power plants with a total capacity of about 5,200 MW for about $2.17 billion as it focuses on its regulated power business. American Electric said a joint venture of Blackstone Group LP and ArcLight Capital Partners LLC would buy the plants, three of which are in Ohio and one in...

  • Sept 14- Power plant operator American Electric Power said it would sell four of its power plants with a total capacity of about 5,200 MW for about $2.17 billion to a newly formed joint venture. The company said a joint venture of Blackstone Group LP and ArcLight Capital Partners LLC would buy the plants, three of which are in Ohio and one in Indiana.

  • PARIS, Sept 12- French drugmaker Sanofi and Verily, the life sciences unit of Google parent Alphabet Inc, on Monday said they would invest about $500 million in a joint venture combining devices with services to improve diabetes care, an example of growing ties between the pharma and tech sectors. Sanofi said last year it was working on a partnership with Google in...

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    Sanofi and Alphabet's life sciences firm Verily will invest about $500 million in a diabetes joint venture combining devices with services.

  • PARIS, Sept 12- French drugmaker Sanofi and Google owner Alphabet's life sciences firm Verily are to invest about $500 million in a diabetes joint venture combining devices with services, an example of growing ties between the pharma and tech sectors. She said Sanofi had invested $248 million in the joint venture, in which the French group controls a 50 percent...

  • PARIS, Sept 12- French drugmaker Sanofi and Google owner Alphabet's U.S-based life sciences company Verily, announced on Monday the launch of a joint-venture aimed at offering patients suffering from diabetes products that will combine devices and services. No financial details were disclosed but the spokeswoman said Sanofi had invested $248 million in...

  • BEIJING, Sept 7- Volkswagen AG signed a preliminary deal with China's Anhui Jianghuai Automobile to explore making electric vehicles in a new joint venture, the two automakers said on Wednesday. China surpassed the United States last year to become the largest maker of pure electric cars thanks to a raft of government incentives to promote the switch from...

  • NEW YORK, Aug 16- A Gabonese man who consulted for a joint venture involving a U.S. hedge fund was arrested on Tuesday on charges that he participated in a scheme to bribe officials in Africa to obtain mining rights. Och-Ziff that same month formed a joint venture in Africa with Palladino Holdings Ltd, an investment vehicle incorporated in the Turks and Caicos...

  • NEW YORK, Aug 16- A Gabonese man who consulted for a joint venture involving a U.S. hedge fund was arrested on Tuesday on charges that he participated in a scheme to bribe officials in Africa to obtain mining rights. Och-Ziff that same month formed a joint venture in Africa with Palladino Holdings Ltd, an investment vehicle incorporated in the Turks and Caicos...

  • LATAM said the agreement conformed to anti-monopoly rules and would benefit consumers, expanding its network to more than 420 destinations in the United States, Canada and Europe. "This type of agreement has already been approved by diverse free competition authorities throughout the world, including the United States and Europe, who have recognized its...

  • *SECCO is BP's single largest investment in China. FRANKFURT/ HONG KONG, Aug 9- British oil major BP is seeking buyers for its 50 percent stake in Chinese petrochemicals joint venture SECCO, its largest investment in China, in a deal sources said could fetch $2- $3 billion. A successful deal would mark BP's first significant exit from a business in China.

  • HONG KONG, Aug 9- State-owned China Petroleum& Chemical Corp is currently discussing the conditions put forward by British oil and gas major BP plc for its planned exit from their SECCO petrochemicals joint venture, a Sinopec spokesman told Reuters on Tuesday. Reuters earlier reported that BP has hired an investment bank to find buyers for its 50 percent stake...

  • FRANKFURT/ HONG KONG, Aug 9- British oil major BP is seeking buyers for its 50 percent stake in a Chinese petrochemicals joint venture, its single largest investment in China, in a deal that would fetch $2- $3 billion, people familiar with the matter told Reuters. A successful deal would mark BP's first significant exit from a business in China. Situated in Caojing...

  • LONDON, Aug 1- French utility EDF and its Chinese partner China General Nuclear Corporation agreed last year to make a series of investments in nuclear power generation in Britain. Britain and EDF first reached a broad commercial agreement on the project at Hinkley Point in southwest England in 2013. The government announced China's involvement last year...

  • SAO PAULO, July 26- Teva Pharmaceutical Industries Ltd and Mylan NV have shown preliminary interest in a Brazilian generic drugmaking joint-venture in which Pfizer Inc has a 40 percent stake, two people familiar with the process said. Brazil's Melo family owns the remaining 60 percent of Teuto 5/ 8 Pfizer, Latin America's largest pharmaceutical plant.

  • RIO DE JANEIRO, July 13- Brazilian federal prosecutors said on Wednesday they opened an investigation into alleged environmental crimes by Roberto Carvalho, chief executive of iron-ore mining company Samarco Mineração SA, over a deadly damburst last year. According to a statement released by prosecutors, Samarco, a 50-50 joint venture between Brazil's...

  • *AirAsia group eyes possible JV in China to target rising cities. FARNBOROUGH, England, July 10- AirAsia is studying a dual listing in Hong Kong, part of plans to become a pan-Asian low-cost airline player as it also moves towards setting up a joint venture in China, people familiar with the matter said on Sunday. The Malaysia- based group is simultaneously looking...

  • July 8- Tata Steel Ltd said on Friday it was in talks with potential strategic partners in the steel industry, including Thyssenkrupp AG, to explore a potential joint venture for its UK business. However, the company said the talks were currently at a preliminary stage and there could be no certainty of a transaction as the outcome depends on consultation and...

  • *Aramco rapidly expanding Houston trading business. LONDON/ HOUSTON, July 4- Royal Dutch Shell has asked Saudi Aramco for up to $2 billion as part of the breakup of their giant Motiva Enterprises refining joint venture in the United States, the latest stumbling point in a partnership fraught with tension. Shell will become the sole owner of Motiva's Louisiana...