News by tag: Mergers and acquisitions

14.02.2017

Opel, PSA Group in talks to merge

PSA Group is discussing a potential acquisition of rival European carmaker Opel from General Motors, a spokesman for the French automaker said on Tuesday. "PSA confirms that it is exploring a number of strategic initiatives with GM with the aim of increasing its profitability and operating efficiency, including a potential acquisition of Opel," company spokesman Bertrand Blaise said.

 
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08.02.2017

Lastminute.com flies over Italy to sign a deal

Lastminute.com strengthens its presence in Italy by signing agreement with Travel Holding to acquire Gartour, an italian leading incoming tour operator. The latter, according to the agreements made by the parties, will continue its activities under a renewable contract of lease for a period of twelve months, before passing definitively under Lastminute.com. Gartour currently employs about 130 people for a turnover of €35 million in 2016.

 
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08.02.2017

Syngenta CEO confident ChemChina takeover closing within Q2

Swiss pesticides and seeds group Syngenta reported 2016 earnings before interest, tax, depreciation and amortisation (EBITDA) of $2.66 billion on sales of $12.79 billion. Analysts polled by Reuters had on average expected EBITDA to fall 5.9 percent to $2.61 billion on sales down 4.2 percent to $12.85 billion. They had expected it to boost its dividend to 11.60 Swiss francs from 11.00

 
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30.01.2017

Johnson & Johnson closed $30bn deal with Swiss Actelion

Johnson & Johnson will buy Swiss drugmaker Actelion in a $30 billion deal that both secures promising research and bolsters the product portfolio controlled by the U.S. health care giant. The deal between the world's biggest producer of healthcare goods and Actelion, a leader in medicines treating high blood pressure, will create a new Swiss-listed firm called R&D NewCo focusing on the research and development of new drugs, the two companies said in a joint statement. The U.S. conglomerate will then buy Actelion's seven drugs that are currently on the market and two potential treatments in late-stage testing. The acquisition gives J&J access to the Swiss group’s line-up of high-price, high-margin medicines for rare diseases, helping it diversify its drug portfolio as its biggest product.

 
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24.01.2017

Yahoo-Verizon: deal delayed to Q2

Yahoo says its closing its Verizon deal in the second quarter instead of in the first quarter, which is when it initially said the deal would close. The $4.8 billion deal was originally slated to close in the first quarter, but that was before Yahoo reported two massive data breaches that analysts say may scrap the entire deal. Although Yahoo continues to work to close the acquisition, there’s still work required to meet closing the deal's closing conditions, the company said in an earnings statement, without elaborating.

 
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18.01.2017

UK competition watchdog may accept new proposals over Mastercard VocaLink deal

MasterCard has put forward proposals to the Competition and Markets Authority (CMA) after the watchdog expressed concern over its acquisition of VocaLink. The CMA said the merger could make it difficult for the UK ATM network Link to negotiate a good infrastructure service because of reduced competition. The CMA had given MasterCard and VocaLink an ultimatum to remedy its competition concerns or face an in-depth investigation.

 
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16.01.2017

Luxottica, Essilor: $50 bn merger deal to create european eyewear giant

Italy's Luxottica and France's Essilor on Monday announced they have agreed on a 50-billion-euro merger deal to create an eyewear giant with over 140,000 employees and sales in some 150 countries. The deal, one of Europe's largest cross-border tie-ups, brings together Luxottica, the world's top spectacles maker with brands such as Oakley and Ray-Ban, with Essilor, the world's leading manufacturer of ophthalmic lenses. By merging, the companies would have jointly reported net earnings of over 15 billion euros, based on 2015 annual results posted by the two companies, and a net combined operating profit EBITDA of about 3.5 billion euros.

 
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10.01.2017

Yahoo to change name in Altaba, CEO Mayer near to leave board

Yahoo, one of the Internet's most venerable companies, won't exist for much longer. According to SEC paperwork filed on Monday, it will be rolled into a publicly-traded investment company called Altaba. Basically, Verizon is paying $4.8 billion solely for Yahoo's core internet business, leaving behind Yahoo's 15% of Chinese retail giant Alibaba and a part of Yahoo Japan, which is a joint venture with Softbank. Those assets will continue to exist in a separate company that will now operate under the catchy Altaba name.

 
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10.01.2017

McDonald’s sells Its China Business For $2.1 Billion

Fast food chain McDonald’s is selling a majority stake in its China business, valuing the enterprise at up to $2.1 billion. Chinese state-backed conglomerate Citic Ltd., Citic Capital Holdings and U.S. private-equity firm Carlyle Group LP will acquire an 80 percent holding in a deal valuing the business at as much as $2.08 billion, according to a statement Monday. Citic will own 52% of McDonald’s China operations, while Carlyle will own 28%. The new partnership plans to add more than 1,500 locations in China over the next five years. McDonald’s currently has 2,400 locations in China and 240 locations in Hong Kong. Franchising allows it to take a slice of sales while cutting operating costs.

 
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02.01.2017

Barry Callebaut: big team with US company Mondelez

Barry Callebaut has strengthened its partnership with the American company Mondelez through the purchase of equipment for the production of chocolate in Belgium. The news was announced in a statement Saturday in which are still not disclosed details on the amount of the financial transaction. The world number one in the cocoa sector will resume the works of Hal, near Brussels. The agreement should allow the Zurich group better fit into the quality of the chocolate market in Belgium.

 
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