Conglomerates News

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  • China's President Xi Jinping delivers a speech at a plenary session during the Asian-African Conference in Jakarta

    China will likely cut the number of its central government-owned conglomerates to 40 through a series of mergers, as Beijing pushes forward a plan to overhaul the country's underperforming state sector, state media reported on Monday. Currently, the central government owns 112 conglomerates, including 277 public firms …

  • EU mergers and takeovers (April 27) Reuters - UK Focus - 1 hour 23 minutes ago

    The following are mergers under review by the European Commission and a brief guide to the EU merger process: APPROVALS AND WITHDRAWALS -- U.S. conglomerate Berkshire Hathaway to acquire German motorcycle ...

  • People stand near a logo of Xiaomi ahead of the launching ceremony of Xiaomi Phone 4, in Beijing

    Ratan Tata, chairman emeritus of the holding company of India's Tata conglomerate, has acquired a stake in Xiaomi Technology [XTC.UL], a deal that is likely to bolster the Chinese phone maker's presence in the world's third-largest smartphone market. Financial details of the unspecified stake bought by Tata in Xiaomi, …

  • Ratan Tata buys stake in Chinese phone maker Xiaomi Reuters - Sun, Apr 26, 2015 11:38 BST
    Indian businessman Tata speaks with other dinner attendees before a dinner at the U.S. Ambassador's residence in New Delhi

    Ratan Tata, chairman emeritus of the holding company of the Tata conglomerate, has acquired a stake in Xiaomi Technology, a deal that is likely to bolster the Chinese phone maker's presence in the world's third-largest smartphone market. Financial details of the unspecified stake bought by Tata in Xiaomi, the first by …

  • Russia's Rusagro says Q1 sales rise 27 pct yr/yr Reuters - UK Focus - Fri, Apr 24, 2015 13:01 BST

    Russian farming conglomerate Rusagro Group said on Friday its first-quarter sales rose 27 percent to 14.6 billion roubles . The company also said revenue from its sugar division increased by 7 percent ...

  • An employee works on a transformer inside an electrical appliances manufacturing unit on the outskirts of Jammu

    The holding company behind Crompton Greaves Ltd has agreed to sell the group's consumer electricals unit for 20 billion rupees ($316 million) to Advent International Corp and a unit of Singapore's Temasek Holdings. Holding company Avantha and private equity firm Advent said in a statement on Friday the buyers would take …

  • A man walks past the head office of Standard Chartered bank in the City of London

    Standard Chartered PLC (STAN.L) has no intention to sell its 45 percent stake in Indonesia's Bank Permata Tbk (BNLI.JK), the British lender's Southeast Asia head said on Tuesday. "We do not have the intention of disposal (of the stake) at this stage," Lim Cheng Teck, CEO for ASEAN at Standard Chartered, told Reuters on …

  • StanChart has no intention to sell $660 mln stake in Indonesian bank Reuters - UK Focus - Tue, Apr 21, 2015 10:24 BST

    Standard Chartered PLC (Other OTC: SCBFF - news) has no intention to sell its 45 percent stake in Indonesia's Bank Permata Tbk, the British lender's Southeast Asia head said on Tuesday. Standard Chartered and Indonesian conglomerate PT Astra International Tbk owned 45 percent each in Bank Permata as of December 2014, …

  • State-owned conglomerate China Resources Enterprise <0291.HK> (CRE) will focus on its beer business after agreeing to sell the remaining operations to its parent for about $3.6 billion (2.42 billion pounds), sparking a 50 percent rise in its shares. CRE, which has a joint venture with SAB Miller (SAB.L) for its beer business, …

  • China's CRE to sell $3.6 bln of assets to parent, focus on beer Reuters - UK Focus - Tue, Apr 21, 2015 05:41 BST

    State-owned conglomerate China Resources Enterprise will focus on its beer business after agreeing to sell the remaining operations to its parent for about $3.6 billion, sparking a 50 percent rise in its ...

  • Standard Chartered PLC (Other OTC: SCBFF - news) has no intention to sell its stake in Indonesia's Bank Permata Tbk, the British lender's Southeast Asia head said on Tuesday. Standard Chartered and Indonesian conglomerate PT Astra International Tbk owned 45 percent each in Bank Permata as of December 2014, according …

  • China Resources Enterprise to sell non-beer assets to parent for $3.6 bln Reuters - UK Focus - Tue, Apr 21, 2015 04:11 BST

    Retail-focused conglomerate China Resources Enterprise (Other OTC: CRHKY - news) (CRE) said on Tuesday it will sell all its non-beer assets, including financial investments, to controlling shareholder China Resources (HKSE: 0291-OL.HK - news) (Holdings) Co for HK$28 billion ($3.6 billion). CRE is 51.78 percent-owned …

  • Retail-focused conglomerate China Resources Enterprise (CRE) said on Tuesday it will sell all its non-retail assets, including financial investments, to controlling shareholder China Resources (Holdings) Co for HK$28 billion ($3.6 billion). CRE is 51.78 percent-owned by China Resources (Holdings).

  • Hutchison Whampoa Ltd and Cheung Kong Holdings Chairman Li Ka-shing leaves a news conference on the companies' annual results in Hong Kong

    Hutchison Whampoa Ltd , controlled by Asia's richest man Li Ka-shing, and CK Hutchison Holdings Ltd said on Monday their shareholders have approved their reorganization proposal, bringing it a step closer ...

  • Shares of PT Golden Energy Mines Tbk, the coal mining unit of Indonesia's Sinarmas Group, fell as much as 10.8 percent on Monday after the conglomerate announced a potential bid for London-listed Asia ...

  • Indonesia's Sinarmas to invest $600-$700 mln in 2 coal plants-exec Reuters - UK Focus - Mon, Apr 20, 2015 05:46 BST

    Indonesian conglomerate Sinarmas Group has committed $600 million to $700 million to build two coal-fired power plants in Southeast Asia's largest economy, a senior executive told Reuters on Monday. Around ...

  • Indonesian conglomerate Lippo Group has appointed Credit Suisse and Bank of America Merrill Lynch to lead its first round of funding, worth $200 million, for its e-commerce push. Lippo, controlled by the Riady family, has also chosen Rothschild as its financial adviser for the transaction. The funding will be used to …

  • Indonesia's Lippo appoints banks for initial $200 mln e-commerce funding Reuters - UK Focus - Sun, Apr 19, 2015 18:00 BST

    Indonesian conglomerate Lippo (HKSE: 0226.HK - news) Group has appointed Credit Suisse (NYSE: CS - news) and Bank of America (Swiss: BAC.SW - news) Merrill Lynch to lead its first round of funding, worth $200 million, for its e-commerce push. Lippo, controlled by the Riady family, has also chosen Rothschild as its …

  • Advent-led consortium to buy unit of Crompton Greaves Reuters - Sun, Apr 19, 2015 05:17 BST

    A consortium led by U.S. private equity firm Advent International Corp. is set to buy the consumer products business of India's Crompton Greaves (CROM.NS) for up to $350 million, two sources directly involved in the deal told Reuters. The board of Crompton Greaves, a conglomerate whose activities stretch from power transmission …

  • Golf-Bjorn welcomes Pelley's appointment as European Tour chief Reuters - UK Focus - Fri, Apr 17, 2015 18:37 BST

    Keith Pelley's appointment as European Tour chief executive in succession to George O'Grady Has been welcomed by Tournament Players Committee chairman Thomas Bjorn. Bjorn, a member of Europe's victorious Ryder Cup team in Scotland in September, has already spoken to the 51-year-old Pelley at length and is impressed by …

  • Billionaire businessman Vincent Bollore is likely to tighten his hold on French media group Vivendi when shareholders decide on Friday whether to give long-term investors double voting rights. Going into Vivendi's (VIV.PA) annual meeting, Bollore is the uncontested leader of the 162-year-old conglomerate since spending …

  • Modi's coal turnaround to ease chronic power cuts Reuters - Thu, Apr 16, 2015 03:43 BST

    Fewer power cuts are likely in India this summer after a surge in output at Coal India (COAL.NS) helped generators amass record stocks, a turnaround for Narendra Modi who had to battle a power crisis within months of becoming prime minister last May. Fast-track mine approvals, tighter production oversight and more flexibility …

  • Modi's coal turnaround to ease India's chronic power cuts Reuters - Wed, Apr 15, 2015 22:07 BST

    Fewer power cuts are likely in India this summer after a surge in output at Coal India (COAL.NS) helped generators amass record stocks, a turnaround for Narendra Modi who had to battle a power crisis within months of becoming prime minister last May. Fast-track mine approvals, tighter production oversight and more flexibility …

  • Information technology group Tech Mahindra is partnering with U.S.-Israeli Comverse Inc to set up a research and development center in Israel. Manish Vyas, president of Tech Mahindra's communications group, told Reuters the deal -- which would bring the Indian company hundreds of engineers -- will help the firm more than …

  • Trian complains about executive pay at DuPont Reuters - Mon, Apr 13, 2015 20:12 BST

    Trian Fund Management, fighting for seats on the board at chemicals and agricultural conglomerate giant DuPont (DD.N), said top company executives were still well paid last year even though the board acknowledged that the operating performance was poor. The hedge fund said in a presentation filed with the Securities and …

  • Questor share tip: Carr's record profits Telegraph - Mon, Apr 13, 2015 18:50 BST

    The small-cap conglomerate enjoyed a strong start to the year, says Questor

  • GE's CEO and his stock win a boost after a long dry spell Reuters - Fri, Apr 10, 2015 23:45 BST

    Immelt unveiled a surprise move to sell off most of GE's finance operations over the next few years, thereby reducing a unit that comprised more than half of the U.S. conglomerate's profits before the 2008 credit crisis down to 10 percent by 2018. GE shares had their best day since March 2009, jumping 10.8 percent in heavy …

  • Shedding GE Capital could benefit GE's valuation Reuters - Fri, Apr 10, 2015 18:58 BST

    GE Capital's elephantine presence has long kept the conglomerate trapped between two worlds where its valuation was concerned: cheap for an industrial stock but rich for a bank. "Essentially, GE has been treated like a bank by investors," said Charles Sizemore, chief investment officer of Sizemore Capital Management in …

  • Nikkei tops 20,000, European shares hit 15-year high Reuters - Fri, Apr 10, 2015 16:28 BST
    Pedestrians look at an electronic board showing the various stock prices outside a brokerage in Tokyo

    World equity markets tested record highs on Friday as hopes of more easy money from top central banks pushed Japan's Nikkei index past 20,000 points for the first time in 15 years. Wall Street was higher after industrial conglomerate General Electric Co (GE.N) said it would sell off its finance arm, helping boost the shares …

  • GE then and now: A look at how the company has changed Associated Press - Fri, Apr 10, 2015 16:10 BST

    General Electric has transformed in the past decade. The Fairfield, Connecticut, company slimmed itself down from a massive conglomerate that made microwaves, movies and jet engines to a trimmer company ...

  • China Forms TPG Duet In Cirque Du Soleil Bid Sky News - Fri, Apr 10, 2015 07:05 BST
    China Forms TPG Duet In Cirque Du Soleil Bid

    One of China's biggest conglomerates is backing a bid by the American buyout giant TPG (Taiwan OTC: 6521.TWO - news) to win control of Cirque du Soleil, the live entertainment company which is one of Canada's most prominent global exports. Sky News has learnt that Fosun International, which recently snapped up a 5% stake …

  • Russian farming conglomerate Rusagro posts record earnings Reuters - UK Focus - Thu, Apr 9, 2015 09:42 BST

    Local sugar prices are linked to the dollar quotes on commodity exchanges and when the rouble shrank last year, local rouble prices rose sharply. Rusagro said its fourth-quarter net profit rose almost sixfold to 7.7 billion roubles and adjusted earnings before interest, taxation, depreciation and amortisation grew 79 percent …

  • Rusagro says Q4 net profit jumps almost sixfold Reuters - UK Focus - Thu, Apr 9, 2015 07:40 BST

    Russian farming conglomerate Rusagro Group said on Thursday its net profit jumped almost sixfold to 7.7 billion roubles in the fourth quarter of 2014. The company also posted adjusted earnings before interest, ...

  • JPMorgan Chairman and CEO Jamie Dimon speaks at the Aspen Institute's "Closing the Workforce Skills Gap" seminar

    Jamie Dimon, chief executive officer of JPMorgan Chase & Co, the biggest U.S.-based bank, defended the size and business model of his company, which has been criticized as being too big and complicated. Dimon, in a letter to shareholders with the company's new annual report on Wednesday, said the company is "not a conglomerate" …

  • Sterling up 1 pct on M&A talk, options market busy as election looms Reuters - UK Focus - Wed, Apr 8, 2015 15:11 BST

    Royal Dutch Shell (Xetra: R6C1.DE - news) 's deal to buy BG Group (LSE: BG.L - news) for 47 billion pounds and French media conglomerate Vivendi's possible purchase of pay-TV group Sky drew bets that they would need sterling to fund the acquisitions. Sky has a market value of 17.6 billion pounds but could cost Vivendi …

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