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December 12, 2019
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Divestitures / Spin

Reuters - Business

Britain’s Tesco considers Asia exit

Reuters
LONDON (Reuters) – Britain’s biggest retailer, Tesco (TSCO.L), has signaled a further retreat from its once lofty global ambitions by starting a review of its remaining Asian businesses, which could result in a sale of those Thai and Malaysian operations. FILE PHOTO: A company logo is pictured outside a Tesco...
Reuters - Business

Britain’s Tesco reviews Thai, Malaysian business for possible sale

Reuters
FILE PHOTO: A company logo is pictured outside a Tesco supermarket in Altrincham northern England, April 16, 2016. REUTERS/Phil Noble/File Photo LONDON (Reuters) – Britain’s biggest supermarket chain Tesco (TSCO.L) said on Sunday it had started a review of its businesses in Thailand and Malaysia, including looking at a possible...
Reuters - Business

Britain’s Phoenix to buy Swiss Re’s ReAssure business for $4.1 billion

Reuters
LONDON/ZURICH (Reuters) – Phoenix Group Holdings (PHNX.L) has agreed to buy the British business of Swiss Re (SRENH.S) for 3.2 billion pounds ($4.1 billion) in cash and shares, the UK insurer’s biggest deal to date, driving the two companies’ shares higher. The logo of Swiss insurer Swiss Re is seen...
Reuters - Business

Modest Orange dividend overshadows European mobile mast plans

Reuters
PARIS (Reuters) – Orange (ORAN.PA) said it planned to carve out its mobile towers in most European countries to shore up the group’s value, but the move was overshadowed by the French telecom firm’s modest dividend outlook, sending its shares lower. FILE PHOTO: Orange logo is seen during the Mobile...
Reuters - Business

Exclusive: Brazil, China, UAE firms in second round of bids for Petrobras refineries – sources

Reuters
SAO PAULO (Reuters) – Brazil’s state-controlled oil company Petroleo Brasileiro SA (PETR4.SA) has selected four groups for the second round of bidding for four refineries up for sale, including China’s Sinopec, Abu Dhabi’s state investor and two Brazilian firms, according to four people with knowledge of the matter. FILE PHOTO:...
Reuters - Business

France’s PSA to sell stake in smaller Chinese tie-up as sales slide

Reuters
FILE PHOTO: The logo of PSA Peugeot Citroen is seen at the company’s plant in Poissy, near Paris, October 31, 2019. REUTERS/Charles Platiau PARIS/BEIJING (Reuters) – Peugeot maker PSA Group (PEUP.PA) said it is preparing to sell its 50% stake in an eight-year-old joint venture with Chinese partner Chongqing Changan...
Reuters - Business

PSA readying sale of its stake in Chinese tie-up with Changan

Reuters
FILE PHOTO: The logo of PSA Peugeot Citroen is seen at the company’s plant in Poissy, near Paris, October 31, 2019. REUTERS/Charles Platiau PARIS/BEIJING (Reuters) – Peugeot maker PSA Group (PEUP.PA) is preparing to sell its 50% stake in a joint venture with Chinese partner Chongqing Changan Automotive (000625.SZ), a...
Reuters - Business

Permira, North Face owner among bidders for sneaker brand Golden Goose: sources

Reuters
LONDON/MILAN (Reuters) – U.S. apparel and footwear conglomerate VF Corporation and buyout funds Permira and Advent are lining up indicative offers for Italian shoe brand Golden Goose ahead of a mid December deadline, sources familiar with the matter told Reuters. FILE PHOTO: The logo of the Carlyle Group is displayed...
Reuters - Business

Grain trader Louis Dreyfus to cut costs in ongoing overhaul

Reuters
SAO PAULO/PARIS (Reuters) – Louis Dreyfus Company is making sweeping cost cuts, starting with travel, entertainment, hiring and salaries, as the 168-year-old agricultural commodities firm tries to revive dwindling profits. FILE PHOTO: Olympique de Marseille’s majority owner, billionaire businesswoman Margarita Louis-Dreyfus attends a news conference in the Velodrome Stadium in...
Reuters - Business

Timeline: A turbulent decade for grain trader Louis Dreyfus and its owner

Reuters
PARIS (Reuters) – Louis Dreyfus Co (LDC) has launched a sweeping cost-cutting plan in the latest attempt to revive profits at the 168-year-old family-owned firm, one of the world’s largest agricultural commodity merchants. FILE PHOTO: Olympique de Marseille’s majority owner, billionaire businesswoman Margarita Louis-Dreyfus attends a news conference in the...
Reuters - Business

Panasonic to sell its chip unit to Taiwan’s Nuvoton for $250 million

Reuters
TOKYO (Reuters) – Panasonic Corp (6752.T) said it would sell its loss-making semiconductor unit to Taiwan’s Nuvoton Technology Corp (4919.TW) for $250 million as the Japanese electronics giant struggles to lift its profit amid a lack of growth drivers. FILE PHOTO: A man is reflected on Panasonic Corp’s logo at...
Reuters - Business

Panasonic to sell its chipmaking business to Taiwan’s Nuvoton Tech: Nikkei

Reuters
FILE PHOTO: A man is reflected on Panasonic Corp’s logo at Panasonic Center in Tokyo, Japan, February 2, 2017. REUTERS/Kim Kyung-Hoon/File Photo (Reuters) – Japan’s Panasonic Corp (6752.T) will sell its loss-making semiconductor business to Taiwan’s Nuvoton Technology, a Nikkei Asian Review reported on Thursday. Panasonic will also divest three...
Reuters - Business

Manchester City owner scores $4.8 billion price tag with stake sale

Reuters
LONDON/PARIS (Reuters) – Manchester City’s Abu Dhabi-controlled owner has agreed to sell a $500 million stake to U.S. private equity firm Silver Lake, making it the world’s most valuable soccer group with a $4.8 billion price tag. Tech-focused Silver Lake will buy just over 10% of City Football Group (CFG),...
Reuters - Business

Manchester City owner scores $4.8 billion price tag with stake sale

Reuters
PARIS/LONDON (Reuters) – Manchester City’s Abu Dhabi-controlled owner has agreed to sell a $500 million stake to U.S. private equity firm Silver Lake, making it the world’s most valuable soccer group with a $4.8 billion price tag. FILE PHOTO: Soccer Football – Premier League – Brighton & Hove Albion v...
Reuters - Business

Manchester City owner to sell $500 million stake valuing itself at $4.8 billion: Financial Times

Reuters
FILE PHOTO: Soccer Football – Champions League – Group Stage – Group F – Olympique Lyonnais v Manchester City – Groupama Stadium, Lyon, France – November 27, 2018 General view of the Manchester City emblem before the match Action Images via Reuters/John Sibley (Reuters) – The owner of English Premier...
Reuters - Business

Manchester City owner to sell $500 million stake valuing itself at $4.8 billion: FT

Reuters
FILE PHOTO: Soccer Football – Champions League – Group Stage – Group F – Olympique Lyonnais v Manchester City – Groupama Stadium, Lyon, France – November 27, 2018 General view of the Manchester City emblem before the match Action Images via Reuters/John Sibley (Reuters) – The owner of English Premier...
Reuters - Business

EBay to sell ticketing unit StubHub for $4.05 billion

Reuters
(Reuters) – EBay Inc (EBAY.O) will sell ticketing unit StubHub to ticket reseller Viagogo Ltd for $4.05 billion in cash, the companies said on Monday, nearly a year after the ecommerce major came under pressure from activist investors to hive off some of its businesses. FILE PHOTO: The eBay logo...
Reuters - Business

Exclusive: UniCredit clinches deal to cut exposure to Turkish lender Yapi Kredi – sources

Reuters
ISTANBUL/LONDON/MILAN (Reuters) – UniCredit (CRDI.MI) has struck a deal to reduce its exposure to Turkey’s Yapi Kredi (YKBNK.IS), three sources told Reuters, a move seen as a first step toward the Italian bank’s full exit from the recession-hit country. FILE PHOTO: The UniCredit-Banca di Roma bank headquarters is seen in...
Reuters - Business

Sanofi weighing options for consumer healthcare unit: sources

Reuters
FRANKFURT/PARIS (Reuters) – Sanofi (SASY.PA) is considering a joint venture or outright sale among options for its consumer healthcare unit, sources told Reuters, as the French drugmaker prepares to present a new strategic plan next month. FILE PHOTO: The logo of Sanofi is seen at the company’s research and production...
Reuters - Business

Exclusive: LVMH gets access to Tiffany’s books after it raises offer – sources

Reuters
FILE PHOTO: The logo of U.S. jeweller Tiffany & Co. is seen at a store in Nice, France, October 27, 2019. REUTERS/Eric Gaillard NEW YORK (Reuters) – French luxury group LVMH (LVMH.PA) has persuaded U.S. jewelry chain Tiffany & Co (TIF.N) to provide it with confidential due diligence after it...

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