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Business Strategy Joint Ventures

  • Jan 25- Heinz ketchup maker Kraft Heinz Co and media mogul Oprah Winfrey said on Wednesday they would form a joint venture to develop a new line of food products in the United States. The joint venture, Mealtime Stories LLC, will initially make ready-to-eat refrigerated products across multiple categories and 10 percent of its profits will be donated to...

  • KUWAIT, Jan 25- Saudi Aramco has shelved plans for a partnership with Malaysian state-oil firm Petroliam Nasional Berhad in a $27 billion refining and petrochemical project in the southeast Asian country, industry sources familiar with the matter told Reuters on Wednesday. Aramco had been in talks with Petronas about a joint venture in the Refinery and...

  • *China regulator approves changes in JV's articles of assn. HONG KONG, Jan 16- Morgan Stanley has received China securities regulator's approval to boost its stake in its Chinese securities venture to 49 percent, said a person with direct knowledge of the matter, making it the first foreign bank to get such a nod. The confirmation came after the Shanghai office of...

  • YANGON, Jan 12- Myanmar on Thursday awarded its fourth- and final- telecoms license to a joint venture between Vietnam's telecom company Viettel and two local firms, heating up competition in a rapidly growing market by adding a second majority- Myanmar operator. The venture is an unusual case of cooperation between businesses controlled by Myanmar and Vietnam...

  • *Philip Morris, BAT also have agreements in China. The joint venture, Global Horizon Ventures Limited, will be based in Hong Kong and link Imperial with CNTC subsidiary Yunnan Tobacco, which controls over one-fifth of the Chinese market. Imperial said the joint venture will expand Imperial's West and Davidoff brands in China, and Yunnan's Jade and Horizon brands...

  • The joint venture, Global Horizon Ventures Limited, will be based in Hong Kong and link Imperial with CNTC subsidiary Yunnan Tobacco, which controls over one-fifth of the Chinese market. The two companies said the joint venture will grow Imperial's West and Davidoff brands in China, and Yunnan's Jade and Horizon brands internationally. China is by far the...

  • SAO PAULO, Jan 11- Real estate tycoon Sam Zell and investment firm Pátria Investimentos Ltda have combined two leading Brazilian self-storage firms in a joint venture that aims to more than double their capacity by 2020, the companies said on Wednesday. Under their plan, the entity resulting from the merger of Zell's GuardeAqui and Pátria's Kipit will open...

  • Jan 10- Kite Pharma Inc said on Tuesday it had formed a joint venture with Shanghai Fosun Pharmaceutical Co Ltd to develop and commercialize its cancer treatment in China. Kite Pharma said it would receive an upfront payment of $40 million from the JV, funded by Fosun Pharma as well as regulatory and commercial milestones totaling $35 million.

  • Licenses are no longer the strategy in China: Expert

    Chantal Grinderslev at Z-Ben Advisors weighs in on how joint ventures are no longer the only medium to access China.

  • SAO PAULO, Jan 3- Brazil's state-controlled oil company Petroleo Brasileiro SA and Repsol Sinopec, a joint Spanish-Chinese venture in the country, are handing back exploration rights at the Piracucá field in the Santos basin due to lack of commercial viability, the companies said. Brazil's oil regulator, ANP, said the companies had given up the concession to...

  • BEIJING, Dec 30- A joint venture between Hon Hai Precision Industry Co, known as Foxconn, and Sharp Corp plans to build a 61 billion yuan factory in China to produce liquid-crystal displays. Sakai Display Products Corp's plant will be a so-called Gen-10.5 facility specializing in large-screen LCDs and will be operational by 2019, the company said at a signing...

  • *Banca Leonardo focusing more on core Italian arm. PARIS, Dec 22- UBS France is to buy the local private banking arm of Italy's Banca Leonardo, the latest instance of consolidation in the private banking industry, which is having to contend with rising regulatory costs and a pressure on fees. UBS France will hold a majority stake in the joint venture and the...

  • HONG KONG, Dec 16- First Capital Securities Co Ltd plans to acquire JPMorgan Chase& Co's minority stake in a Chinese joint venture, in what would be the first departure by a prominent global investment bank from China's securities sector. The Shenzhen- listed securities group said in an exchange filing on Friday that it would buy the 33.3 percent stake in joint...

  • KHOBAR, Saudi Arabia, Dec 15- U.S.-listed Rowan Companies announced plans for its first rig from a new joint venture in Saudi Arabia and Nabors Industries said it is seeking to boost its manufacturing in the world's largest oil exporter. Rowan's Chief Executive Thomas Burke told Reuters that its JV with state oil giant Saudi Aramco will build two offshore rigs...

  • Dec 14- Spain's Grifols SA, which develops plasma protein therapies, said it would buy U.S. medical device maker Hologic Inc's interest in their blood screening joint venture for $1.85 billion in cash. Grifols, which owns the customer-facing activities of the venture, said the acquired assets comprise a plant in San Diego, California as well as development...

  • TORONTO, Dec 12- German healthcare group Bayer said on Monday it has set up a joint venture with U.S. life sciences venture capital firm Versant Ventures to invest $225 million in a stem cell therapy firm based in Toronto. The venture, BlueRock Therapeutics, is expected to initially employ 30 to 40 people in Toronto, and 70 to 80 people worldwide.

  • MEXICO CITY, Dec 5- Fresh off a historic tie-up with Australia's BHP Billiton Plc, Pemex is aiming for more than five additional joint ventures with other major producers over the next two years, the chief executive officer of the Mexican state oil firm said on Monday. Pemex already plans four shallow water and onshore tie-ups next year, and Pemex CEO Jose Antonio...

  • TOKYO, Nov 29- Japan's Idemitsu Kosan said on Tuesday its joint venture with Mitsui Chemicals would conduct work to expand the processing of propane at Idemitsu's naphtha cracker to take advantage of cheap liquefied petroleum gas prices. The upgrade will boost the cracker's capacity to process propane as feedstock by three or four times, said Hideki Gotoh,...

  • TOKYO, Nov 29- Japan's Idemitsu Kosan said on Tuesday its joint venture with Mitsui Chemicals would conduct work to expand the processing of propane at Idemitsu's naphtha cracker to take advantage of cheap liquefied petroleum gas prices. The upgrade will boost the cracker's capacity to process propane as feedstock by three or four times, said Hideki Gotoh,...

  • FRANKFURT, Nov 27- Volkswagen signed a deal on Sunday to assemble cars in Algeria in a joint venture with its local car importer SOVAC, aiming for a production capacity of more than 100 vehicles per day from June 2017, VW and Algerian officials said. Algeria has been trying to boost investment and diversify its economy to compensate for a drop in oil and gas earnings...