×

Business Strategy Strategic Alliances

  • MOSCOW, Jan 17- Russian state-owned bank VTB briefly lent over $11 billion to an entity controlled by Qatar and commodities trader Glencore four days after the Kremlin signed a deal to sell them a stake in state oil company Rosneft for a similar amount, two Russian newspapers reported on Tuesday. The existence of the short-term loan, if confirmed, muddies the...

  • MOSCOW, Jan 17- Russian state-owned bank VTB briefly lent over $11 billion to an entity controlled by Qatar and commodities trader Glencore four days after the Kremlin signed a deal to sell them a stake in state oil company Rosneft for a similar amount, two Russian newspapers reported on Tuesday. The existence of the short-term loan, if confirmed, muddies the...

  • DJIBOUTI, Jan 16- The president of Djibouti on Monday formally launched the construction of a project touted as Africa's largest free trade zone, to be built in the tiny Horn of African nation with Chinese backing. Djibouti also handles roughly 95 percent of the inbound trade for neighboring Ethiopia, population 99 million. "aims to become a gateway not only to...

  • Jan 12- Oil and gas producer Anadarko Petroleum Corporation said on Thursday it would sell its Eagleford Shale assets in South Texas for about $2.3 billion to a strategic 50/ 50 partnership formed by Sanchez Energy Corporation and asset manager Blackstone Group LP. Al Walker, chief executive officer of Anadarko, said in a statement that the sale would help the...

  • Jan 12- Oil and gas producer Anadarko Petroleum Corporation said on Thursday it would sell its Eagleford Shale assets in South Texas for about $2.3 billion to a strategic 50/ 50 partnership formed by Sanchez Energy Corporation and Blackstone Group LP. Al Walker, chief executive of Anadarko said in a statement that the sale would help the company accelerate...

  • LONDON, Jan 11- The widow of an activist executed after protesting against Royal Dutch Shell's oil production in Nigeria has won access to legal documents for use in a legal case for damages against the oil giant that she says she plans to launch in the Netherlands. A U.S. judge in December told Shell's U.S. lawyers to give Esther Kiobel documents about Shell's...

  • 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.

  • LONDON, Jan 6- Brewer Anheuser Busch InBev and coffee maker Keurig Green Mountain have teamed up to develop a countertop appliance that could dispense alcoholic drinks in the home. Keurig is part of privately held JAB Holding, the investment vehicle of Austria's billionaire Reimann family. JAB Chief Executive Olivier Goudet is also the chairman of AB InBev, the...

  • NEW DELHI, Jan 6- A subsidiary of China's top carmaker SAIC Motor Corp plans to acquire certain General Motors manufacturing assets in India, a filing with the country's competition watchdog showed on Friday. As part of a side deal, General Motors also plans to buy out SAIC's 9.2 percent stake in SAIC General Motors Investment- a joint venture it formed with the...

  • *Move cuts efficiency of shared Mexico plant- sources. PARIS, Jan 5- Nissan is halting joint development of luxury cars with Daimler's Mercedes-Benz, sources close to the companies told Reuters, suspending a key project in their seven-year partnership and potentially hitting profitability at a new shared factory in Mexico. The move could reduce efficiency at a...

  • SHANGHAI/ HONG KONG, Jan 4- Fidelity International has become the first global asset manager allowed to launch investment products in China through a wholly-owned local subsidiary, as Beijing further liberalises its capital markets. Previously, foreign asset managers looking to distribute investment products in China had to operate through...

  • *Investors question Swatch Group strategy in shrinking market. ZURICH, Dec 22- Three years ago, Swatch Group was riding high. Then in several newspaper interviews in 2015 and in early 2016, chief executive Nick Hayek announced that he was taking the company in a new direction, launching a battery for electric vehicles with the goal of reaching $10- 15 billion sales...

  • RIO DE JANEIRO, Dec 21- Petroleo Brasileiro SA said on Wednesday it will sell $2.2 billion worth of assets to France's Total SA, including stakes in oilfields and two thermal power stations. With the agreement, the total divestment for the last two years ending in 2016 reached $13 billion, Monteiro said, still $2 billion short of the target the company set to reduce...

  • Dec 19- Swiss drugmaker Novartis on Monday said it signed a licensing deal to co-develop a fatty liver disease drug with Conatus Pharmaceuticals Inc, under which the small U.S. company will receive $50 million up front. Conatus shares rose to $4.20 in extended trading from a Nasdaq close at $1.96. Conatus has the option to co-commercialize emricasan in the...

  • Dec 19- Swiss drugmaker Novartis on Monday said it signed a licensing deal to co-develop a fatty liver disease drug with Conatus Pharmaceuticals Inc, under which the small U.S. company will receive $50 million up front. Conatus has the option to co-commercialize emricasan in the United States. It is estimated that NASH affects 3 percent to 5 percent of the U.S....

  • NEW DELHI, Dec 19- Steel Authority of India Ltd is in talks with Japan's Nippon Steel& Sumitomo Metal Corp and Kobe Steel Ltd for potential technical agreements to help the firm expand its global footprint, SAIL's chairman told Reuters. India's biggest state-owned steel producer has already held an initial round of talks with Japan's top steelmakers, Singh said,...

  • Samuel Mebiame, a son of the late former Gabon Prime Minister Leon Mebiame, entered his plea in federal court in Brooklyn to conspiracy to violate the U.S. His plea came after Och-Ziff and its chief executive, Daniel Och, agreed in September to pay $412 million and $2.17 million, respectively, to resolve U.S. probes into the hedge fund's role in bribing officials in...

  • Samuel Mebiame, the 43- year-old son of the late former Gabon Prime Minister Leon Mebiame, entered his plea in federal court in Brooklyn to conspiracy to violate the U.S. His plea came after Och-Ziff and CEO Daniel Och in September agreed to pay $412 million and $2.17 million, respectively, to resolve U.S. probes into the hedge fund's role in bribing officials in...

  • Samuel Mebiame, the 43- year-old son of the late former Gabon Prime Minister Leon Mebiame, entered his plea in federal court in Brooklyn to conspiracy to violate the U.S.

  • The announcement that KKR-controlled Acceleratio Capital NV would offer 43.50 euros per share in cash for all outstanding GfK shares sent shares in the German company surging 30 percent. GfK Verein, GfK's majority shareholder with 56.46 percent, will keep its stake and has signed a shareholder agreement with Acceleratio Capital, outlining how they will...