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Mergers and Acquisitions Divestments

  • BRUSSELS, June 28- The European Commission gave Austrian industrial materials maker RHI clearance on Wednesday to buy Brazil's Magnesita Refratarios after the company agreed to divest some businesses in Europe. RHI, which specialises in fireproof industrial materials, agreed to sell its production sites in Marone in Italy and Lugones in Spain as well as...

  • CHIBA, Japan, June 28- Japan's Toshiba Corp faced shareholders at its annual meeting on Wednesday with no deal in hand for the sale of its prized flash memory chip unit and a long list of humiliating setbacks to apologize for. But the conglomerate said in a statement on Wednesday that talks with some members of the preferred bidder consortium- which is led by...

  • Noble Group

    Fitch downgraded Noble, as poor liquidity and weak profitability continue to hinder the turnaround of the struggling commodities trader.

  • TOKYO, June 23- Toshiba Corp said it was open to talks with Western Digital Corp in their dispute over the sale of the Japanese conglomerate's prized chip unit- an apparent olive branch after it chose another suitor as preferred bidder. The softer tone from Toshiba comes on a day of further indignities as the crisis-wracked conglomerate saw itself demoted to the...

  • TOKYO, June 23- Toshiba Corp said it was open to talks with Western Digital Corp in their dispute over the sale of the Japanese conglomerate's prized chip unit- an apparent olive branch after it chose another suitor as preferred bidder. Toshiba would be willing to hold talks but does not expect the composition of the preferred bidder consortium, which includes...

  • The sales, which aim to raise 6 billion reais, include a 19.2 percent stake in Brazil- based dairy company Vigor Alimentos SA, along with its Northern Ireland unit Moy Park Ltd and Five Rivers Cattle Feeding in North America. It is one of Britain's top 10 food companies, with 13 processing and manufacturing units in Northern Ireland, England, France, the Netherlands...

  • The plan, which aims to raise 6 billion reais, includes a 19.2 percent stake in Brazil- based dairy company Vigor Alimentos SA, along with its Northern Ireland unit Moy Park and Five Rivers Cattle Feeding in North America. Five Rivers has a combined feeding capacity of more than 980,000 head of cattle and locations in Colorado, Kansas, Oklahoma, Texas, Arizona, and...

  • SAO PAULO, June 19- TPI Triunfo Participações& Investimentos SA has agreed to sell a 50 percent stake in a port terminal to partner MSC Mediterranean Shipping Co SA's TIL unit, a key step towards advancing the debt-laden Brazilian infrastructure firm's turnaround, a person familiar with the matter said on Monday. According to the person, Triunfo sold the 50...

  • TAIPEI, June 16- Taiwan's financial watchdog will not approve Sinopac Financial Holdings' $340 million sale of its U.S. unit to Cathay General Bancorp unless Sinopac submits the necessary paperwork, a source with the regulator said. A collapse of the deal could also taint the reputation of Sinopac and Taiwanese banks in the U.S. market, coming in the wake of $180...

  • TAIPEI, June 16- Taiwan's financial watchdog will not approve Sinopac Financial Holdings' $340 million sale of its U.S. unit to Cathay General Bancorp unless Sinopac submits the necessary paperwork, a source with the regulator said. A collapse of the deal could also taint the reputation of Sinopac and Taiwanese banks in the U.S. market, coming in the wake of $180...

  • *Seeks injunction in California court, expects ruling by mid-July. TOKYO, June 15- Western Digital Corp has sought a court injunction to prevent Toshiba Corp from selling its chip business without the U.S. firm's consent- a move that threatens to throw the fiercely contested auction into disarray. According to a person familiar with the matter, the California-...

  • *Seeks injuction with California court. TOKYO, June 15- Western Digital Corp said it has sought a court injunction that would prevent Toshiba Corp from selling its NAND chip business until its arbitration case against the Japanese conglomerate has been decided. In May, the California- based firm sought international arbitration arguing that Toshiba needs its...

  • *Flannery to take over as CEO on Aug. 1, chairman on Dec. 31. GE said John Flannery, the head of its healthcare unit, would replace Immelt as CEO, effective Aug. 1, and as chairman after Immelt retires on Dec. 31. Immelt also oversaw the divestment of GE Capital- its massive lending unit- shifting the conglomerate's focus from finance to manufacturing, and bet on developing...

  • June 8- Yahoo Inc shareholders on Thursday approved the company's pending sale of its core internet business to Verizon Communications Inc for $4.48 billion, according to preliminary results from a shareholder meeting. Yahoo expects that the deal will close on June 13, 2017. The company also said it extended a tender offer to buy back up to $3 billion shares to...

  • *Pacific Equity Partners, Carlyle Group to buy iNova unit. June 8- Valeant Pharmaceuticals International Inc said it would sell its iNova Pharmaceuticals business for $930 million, as Chief Executive Officer Joseph Papa steps up efforts to slash the embattled Canadian drugmaker's huge debt pile. INova, which Valeant bought in 2011 from Australian private...

  • June 8- Embattled Canadian drugmaker Valeant Pharmaceuticals International Inc said on Thursday it would sell its iNova Pharmaceuticals business for $930 million in cash as it looks to pay down debt. The unit, which sells prescription and over-the-counter products, will be bought by a company jointly owned by Pacific Equity Partners and The Carlyle Group LP,...

  • "We have previously flagged the Waterworks transaction as a positive catalyst since it re-focused the portfolio on two end markets, is margin accretive, reduces leverage to sector norms and introduces a capital return deployment strategy," Morgan Stanley analyst Nigel Coe said in a note. Shares of the Atlanta- based company slumped as much as 19 percent to...

  • June 6- Canadian drugmaker Valeant Pharmaceuticals International Inc is in talks to sell its Bausch& Lomb unit's surgical products business to Germany's Carl Zeiss Meditec AG, Bloomberg reported. Valeant's eye-surgery assets may be valued at about $2 billion in a sale, Bloomberg reported, citing people familiar with the matter. Valeant and Carl Zeiss were not...

  • LONDON/ JOHANNESBURG, May 31- Barclays will sell shares worth 1.5 billion pounds in Barclays Africa Group, the bank said on Wednesday, marking another stage in its exit from the continent to focus more on the United States and Britain. Barclays said it would sell the shares to large investors, including South Africa's Public Investment Corporation, in its second...

  • *Novartis mulls asset disposals of some $50 billion. ZURICH, May 30- As Novartis considers asset sales that could raise $50 billion, investors are worried any cash raised may give the Swiss drugmaker firepower for another unsuccessful megadeal. Now, Chief Executive Joe Jimenez is reviewing Alcon's surgical devices and contact lens businesses, suggesting they...