A bid for Alitalia was being reviewed by the Air France-KLM Group. The board of directors of Air France-KLM Group would meet on Sept. 23 to determine whether a bid for majority ownership over Alitalia SpA would be made.
Industrials
Fiat buys out GM in VM Motori
Fiat buys out GM to become sole owner of diesel engine manufacturer VM Motori. Fiat, the Italian carmaker, had laid out plans to takeover VM Motori, the Italian diesel engine manufacturer.
ThyssenKrupp gets break, obtains extension of credit lines
In a move designed to avoid default, ThyssenKrupp was able to receive an extension of its credit lines from banks before its planned share sale.
DMCC now largest free trade zone in the UAE
With plans to reach 10,000 companies by 2015, The Dubai Multi Commodities Centre had become the largest free zone in the United Arab Emirates.
India plastics duties on imported materials sought revised
Claiming survival of the local industry, the All India Plastics Manufacturers Association has written to the Indian Finance Minister to revise the import duties on plastics.
Latest News
According to Ford Americas President Joe Hinrich, this investment would expand their Oakville plant near Toronto, Canada.
According to ThyssenKrupp CFP Guido Kerkhoff, there are still plans to sell off its Americas units, under certain conditions.
On Wednesday, Vale SA said it had planned to sell control of VLI SA to Brookfield Asset Management Inc, Mitsui Co and FGTS valued BRL4 billion.
Packaging Corp of America's acquisition of Boise Inc would be funded by a bridge loan. A USD2 billion financing commitment was made available to Packaging Corp of America, a producer of corrugated shipping material.
On Wednesday, Ferrexpo PLC announced it had purchased a 14.4% stake in Ferrous Resources valued at USD80 million.
On Monday night, Ecotality Inc. filed for bankruptcy protection in the US bankruptcy court in Phoenix and said it would auction its assets.
Clean Harbors, a Massachusetts-based environmental services company, acquired Evergreen Oil in a USD60 million deal.
An investment was recently completed by Element Partners, an industrial technology focused equity fund, in Hayward Gordon, an industrial manufacturer of fluid handling systems.
In a joint statement on Monday, Packaging Corp. of America (PCA) agreed to purchase Boise Inc. for an aggregate transaction value of USD1.995 billion.
