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Business Strategy Joint Ventures

  • LONDON, Sept 20- European stocks continued to trade cautiously in early deals on Wednesday ahead of a policy decision by the U.S. Deal-making was also in focus in Europe, with shares in steelmaker Thyssenkrupp rising 5 percent after it struck a preliminary deal with India's Tata Steel to merge their European steel operations in a 50-50 joint venture.

  • *Expect annual synergies of 400- 600 million euros. FRANKFURT, Sept 20- Germany's Thyssenkrupp and India's Tata Steel struck a preliminary deal on Wednesday to merge their European steel operations in a 50-50 joint venture to create the continent's No.2 steelmaker after ArcelorMittal. Thyssenkrupp shares were indicated up more than 5 percent in pre-market...

  • *See annual synergies of 400- 600 million euros. FRANKFURT, Sept 20- Thyssenkrupp and Indian peer Tata Steel on Wednesday struck a preliminary agreement to combine their European steel operations in a 50-50 joint venture, creating the continent's No.2 steelmaker after ArcelorMittal. The MoU, widely expected after Thyssenkrupp last week said a deal could still...

  • FRANKFURT, Sept 20- Thyssenkrupp and Indian peer Tata Steel on Wednesday signed a memorandum of understanding to combine their European steel operations in a 50-50 joint venture, the German company said in a statement on Wednesday.

  • This is the second time the two would be joining forces in India, Ford having re-entered India in the 1990 s through a joint venture with Mahindra before eventually expanding to manufacture and sell vehicles on its own. The new alliance comes as foreign car makers like Fiat Chrysler, Volkswagen and General Motors have struggled in India where nimbler rivals...

  • FRANKFURT, Sept 18- A former joint venture partner of Steinhoff has asked a Dutch court to order an investigation into the South African group's annual accounts, which Steinhoff said it expected to be dismissed. News of the investigation wiped more than $2 billion off the value of Steinhoff's shares, which are listed in Germany and Johannesburg.

  • FRANKFURT, Sept 18- A former joint venture partner of Steinhoff has asked a Dutch court to order an investigation into the South African group's annual accounts, which Steinhoff said it expected to be dismissed. The petition by OM Handels GmbH and MW Handels GmbH, owned by the former joint venture partner, comes after German prosecutors said last month they were...

  • *Toshiba shares rise more than 4 percent. TOKYO, Sept 6- Toshiba shares rose more than 4 percent on Wednesday after sources told Reuters that Western Digital Corp has offered to drop out of a group bidding for its flash memory chip business to take a stronger position in their joint venture instead. Toshiba shares had gained 4.17 percent to 325 yen at 0034 GMT, while...

  • TOKYO, Sept 5- Western Digital Corp has offered to drop out of a group bidding for Toshiba's coveted flash memory chip business to take a stronger position in their joint venture instead, two sources familiar with the matter said on Tuesday. A consortium including Western Digital, U.S. private equity firm KKR& Co, the state-backed Innovation Network of Japan and...

  • TOKYO, Sept 5- Western Digital Corp has offered to drop out of a bid for Toshiba Corp's lucrative semiconductor unit after their talks stalled, seeking instead a stronger position in the two companies' chip joint venture, two sources said on Tuesday. A consortium including Western Digital, U.S. private equity firm KKR& Co, the state-backed Innovation Network of...

  • MEXICO CITY, Aug 30- A coveted deepwater oil project that Mexico's state oil company Pemex wants to develop with a partner will require some $10.7 billion in investment and could eventually add 174,000 barrels of new output per day, a senior regulator said on Wednesday. Top oil sector regulator Juan Carlos Zepeda told Reuters in an interview that the auction to...

  • MEXICAN OIL REGULATOR SAYS NOBILIS-MAXIMINO DEEPWATER JOINT VENTURE TO REQUIRE $10.7 BLN OVER LIFETIME OF CONTRACT.

  • BEIJING, Aug 29- Nissan Motor and its alliance partner Renault are setting up a new joint venture in China with Dongfeng Motor Group to design and build electric cars, joining a list of global automakers aiming to make such vehicles in China. Ford Motor Co announced earlier this month it was exploring setting up a joint venture with car maker Anhui Zotye...

  • BEIJING, Aug 29- Nissan Motor Co and its alliance partner Renault SA said on Tuesday they are setting up a new joint venture with their partner Dongfeng Motor Group Co Ltd to design and build electric vehicles in China. The move comes as global automakers tap into a boom for such cleaner new energy vehicles in the worlds biggest auto market and gear up to meet its...

  • Aug 28- U.S. company Dow Chemical plans to buy an additional 15 percent stake in its $20 billion joint venture with Saudi Aramco, the companies said on Monday. Dow, which owns a 35 percent stake in Sadara Chemical, said it had signed a non-binding agreement with Aramco to boost that interest to 50 percent. Sadara said this month it had commissioned the last plant at its...

  • Aug 28- U.S. chemical and seeds company Dow Chemical Co said on Monday it plans to buy an additional 15 percent stake in Sadara Chemical Co, its joint venture with Saudi Aramco. Dow, which currently owns a 35 percent stake in Sadara, said it signed a non-binding agreement with Aramco to boost that interest to 50 percent. The deal is expected to occur after Dow closes its...

  • *Brand will sell all-electric vehicles in China. *Ford's sales are down 7 pct in China this year. SHANGHAI, Aug 22- Ford Motor is exploring setting up a joint venture with Chinese firm Anhui Zotye Automobile Co to build electric passenger vehicles in China under a new brand, tapping into a boom for such vehicles in the world's top auto market.

  • *Brand will sell all-electric vehicles in China. *Ford's sales are down 7 pct in China this year. SHANGHAI, Aug 22- Ford Motor is exploring setting up a joint venture with Chinese firm Anhui Zotye Automobile Co to build electric passenger vehicles in China under a new brand, tapping into a boom for such vehicles in the world's top auto market.

  • DUBAI, Aug 16- OPEC member Iraq has formed a joint venture with a shipping company owned by Arab states to transfer, store and trade crude and oil products, according to official documents and industry sources. AISSOT is owned by state firm Iraqi Oil Tankers Co and Arab Maritime Petroleum Transport Co, a pan-Arab company in which Arab oil producers such as Saudi...

  • NEW YORK, Aug 7- A Wells Fargo Bank joint venture that provides credit card processing services to merchants across the country has been hit with a lawsuit accusing it of using misleading sales tactics and overbilling for its services. Wells Fargo Merchant Services, a joint venture between Wells Fargo Bank and payment processor First Data Corp, helps process...