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Business Strategy Joint Ventures

  • TOKYO, May 9- Toshiba Corp has told Western Digital Corp not to interfere in the sale of its prized chip unit, rejecting claims it has breached a joint venture contract and threatening legal action. Chief Executive Steve Milligan is currently visiting Japan to press its case. But in a May 3 letter sent by Toshiba's lawyers, the TVs-to-nuclear conglomerate...

  • TOKYO, May 9- Toshiba Corp has told Western Digital Corp not to interfere in the sale of its prized chip unit, rejecting claims it has breached a joint venture contract and threatening legal action. Chief Executive Steve Milligan is currently visiting Japan to press its case. But in a May 3 letter sent by Toshiba's lawyers, the TVs-to-nuclear conglomerate...

  • TOKYO, May 9- Toshiba Corp has told Western Digital Corp not to interfere with the sale of its prized chip unit, disputing claims by the U.S. firm that it had breached a joint venture contract. In a May 3 letter sent by Toshiba's lawyers, the Japanese conglomerate disputed Western Digital's argument and said it would pursue all available remedies if it saw continued...

  • MEXICO CITY, April 27- The board of Mexico's state-owned oil company Pemex on Thursday approved its second-ever deep water joint venture covering the Nobilis-Maximino block in the country's territorial Gulf waters. The potentially-lucrative project lies just south of Mexico's maritime border with the United States in the Perdido Fold Belt, where dozens...

  • BERLIN, April 19- The air freight divisions of Lufthansa and United said they have agreed a joint venture on routes between Europe and the United States to help their respective networks. Lufthansa Cargo and United Cargo said that together they will have more than 600 direct connections per week between Europe and the United States. Lufthansa and United are...

  • TOKYO, April 14- Toshiba Corp on Friday denied a Bloomberg report that the company had temporarily suspended all meetings and decisions over the sale of its memory chip business to address concerns raised by an industry partner. "It is not true Toshiba has put the chip sale process on hold," a Toshiba spokesman told Reuters. Shares in Toshiba plunged more than 8...

  • *Broadcom offered highest bid of $23 bln- source. TOKYO, April 12- Western Digital Corp has warned Toshiba Corp that the Japanese firm is violating a joint venture contract in plans to sell to its chip unit and urged that it be given exclusive negotiating rights. In a strongly worded letter dated April 9, Western Digital, which operates a semiconductor plant with...

  • BEIJING, April 12- Ant Financial, the finance affiliate of Alibaba Group Holding, and Indonesian media company Elang Mahkota Teknologi are to form a joint venture to offer payment and financial services in Indonesia. The Emtek tie-up is Ant's fifth international payments deal since November, seeking to tap Asia's third-largest country by population as the...

  • TOKYO, April 12- Western Digital Corp has warned Toshiba Corp that splitting off its chip unit prior to a planned sale of the business violates their joint chip venture contract and that it wouldn't sit idly by while Toshiba runs roughshod over its rights. Western Digital, which operates a chip plant with Toshiba in Japan, said the split-off is "very serious breach...

  • TOKYO, April 12- Western Digital Corp has warned Toshiba Corp that splitting off its chip unit prior to a planned sale of the business violates their joint chip venture contract. Western Digital, which operates a chip plant with Toshiba in Japan, said the split-off is "very serious breach of joint venture agreements," according to a letter sent by the California-...

  • PARIS, April 12- French oil and gas company Total said on Wednesday that its South Korean joint venture with Hanwha will invest $450 million in the group's refining and petrochemicals platform to expand capacity in order to meet growing demand from China. The company said the investment will increase the Daesan complex's ethylene capacity by 30 percent to 1.4...

  • *Drive to consolidate given urgency by China's ambitions. FRANKFURT/ BERLIN, April 11- Germany's Siemens and Canada's Bombardier are in talks to combine their rail operations, two people close to the matter told Reuters on Tuesday, an action that could strengthen their hand against Chinese state-backed market leader CRRC Corp. The joint venture would create a...

  • *Drive to consolidate given urgency by China's ambitions. FRANKFURT/ BERLIN, April 11- Germany's Siemens and Canada's Bombardier are in talks to combine their rail operations, two people close to the matter told Reuters, a move that could strengthen their hand against Chinese state-backed market leader CRRC Corp.. The joint venture would create a company whose...

  • *Drive to consolidate given urgency by China's ambitions. FRANKFURT/ BERLIN, April 11- German industrial conglomerate Siemens and Canada's Bombardier are in talks to combine their rail operations in a joint venture, two people close to the matter told Reuters on Tuesday. The news was earlier reported by Bloomberg, lifting Siemens shares to a record high of...

  • April 5- U.S. solar company SunPower Corp said on Wednesday it was exploring strategic alternatives for its yieldco joint venture with First Solar. Separately, First Solar said it was looking to sell its stake in the venture, 8 point3 Energy Partners. So-called yieldcos are publicly traded entities that house solar and wind projects sold to them by their parent...

  • PARIS, April 5- French advertising group Havas has signed a joint venture agreement with Guangdong Advertising Group as part of its moves to expand in the fast-growing Chinese market. Havas, which competes with bigger rivals such as WPP, Publicis and Omnicom, said it would own 51 percent of the new Havas GIMC Advertising Company that will be created out of the...

  • SAO PAULO, March 29- Gerdau SA, the largest steelmaker in the Americas, has agreed to create a long steel joint venture in Colombia with Putney Capital Management amid efforts to cut debt and boost returns. Under terms of the venture, which were unveiled in a Wednesday securities filing, Porto Alegre, Brazil- based Gerdau will sell half of its stake in a Colombian mill,...

  • VANCOUVER, March 28- More partnership deals are likely in the gold industry as miners start investing in new projects again but are keen to lower the risk, analysts said after Goldcorp Inc and Barrick Gold Corp's announced a 50-50 joint venture in Chile. As part of a complex series of transactions costing Goldcorp about $445 million up front, the Vancouver- based...

  • PARIS, March 27- French oil and gas major Total said it aims to become a major player in the U.S. polyethylene market as it announced a $1.7 billion joint venture on Monday with Austria's Borealis and Canada's Nova Chemical. The new venture plans to build a 1 million tonne per year ethane steam cracker in Port Arthur, Texas, and is also considering building a 625,000...

  • March 24- Schlumberger NV said on Friday it would form a joint venture with Weatherford International Plc to deliver oilfield products and services for unconventional resource plays in the United States and Canada. The oilfield equipment maker will get a one-time $535 million cash payment from Schlumberger, the companies said in a joint statement.