GlaxoSmithKline has asked for the approval of India's Foreign Investment Promotion Board for its planned acquisition of a 24.33% stake in its Indian arm GlaxoSmithKline Pharmaceuticals Ltd. GSK will fund the stake hike by investing INR6,400 crore.
Manufacturing
Investcorp buys minority stake in Turkish food producer Namet for undisclosed sum
Bahrain private equity firm Investcorp has bought a significant minority stake in Turkish fresh cut and packaged processed red meat producer Namet for an undisclosed sum. Early this year, Investcorp acquired a 25% stake in Saudi Arabia's Leejam Sports Co.
US papers maker Vero Paper acquires rival NewPage in $1.4B buyout deal
Tennessee-based coated papers maker Verso Paper is acquiring it private competitor, Ohio-based printing and specialty papers manufacturer NewPage Holdings Inc in a deal valued at $1.4 billion.
Murray Goulburn anticipates regulator decision on A$530M Warrnambool offer by end-February
Murray Goulburn Co-operative Co. Ltd. expects a decision from the Australian Competition Tribunal on its bid for Warrnambool Cheese and Butter Factory Holdings Co. by the end of February. Murray Goulburn raised its offer to A$530 million as it faces strong competition with Canada's Saputo Inc.
Nestle sells US pasta maker Joseph's Pasta to Brynwood Partners
World food giant Nestle has sold its US frozen pasta business Joseph's Pasta Co. to private equity firm Brynwood Partners VII. Nestle acquired the Haverhill, Massachusetts pasta marker in 2006.
Latest News
2013 had been the best sales year for the auto industry as US consumers bought 15.5 million vehicles. Ford Motor Co., Honda Motor Co. and Chrysler Group posted single-digit percentage gains, while General Motors Co. and Toyota Motor Corp. sales declined.
Boeing Co.'s machinists on Friday voted 51% against 49% in favor of accepting a crucial labor contract, which means Boeing will build its 777X jetliner and wings in Washington state.
The US 6th Circuit Court of Appeals on Friday ruled against food and beverage company Dean Foods Co. in an antitrust case. The said lawsuit alleged that Dean Foods conspired to restrict competition for bottled milk in southeastern states in the US after its 2001 merger with Suiza Foods Corp.
Ontario, Canada-based clay brick manufacturer Brampton Brick Ltd said it has closed the previously announced $40 million long-term loan for asset purchases and other general corporate purposes.
Lindsay Corp, manufacturer of irrigation equipment, recently announced that it will repurchase $100 million to $150 million in stock and will increase its quarterly dividend to $0.26 per share.
The Phnom Penh Municipal Police on Friday said that three people were killed and several others wounded after police fired AK-47 rifles to quell a labor protest by striking garment workers in Cambodia. Cambodian workers are demanding for a higher minimum wage.
Shares in French liquor company Remy Cointreau declined by more than 2% to €59.19 per share on Friday, following the resignation of its chief executive officer Frederic Pflanz. Pflanz quit his post three months after being promoted from his role as chief operating officer.
US-based firm Cooper Tire & Rubber Company announced via press release that it has called off its merger plans with India-based manufacturer Apollo Tyres and will focus on building its business instead.
Fisker Automotive, the bankrupt maker of plug-in hybrid sports cars, seeks a bankruptcy court ruling rejecting the company's sale to Chinese auto parts company Wanxiang Group. Fisker blames Wanxiang for its bankruptcy.
