Tesco Plc paid HKD4.33 billion or USD588 million for 20% of its venture with China Resources Enterprise Ltd.
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China Resources to offload stake in Wal-Mart China for $525mn
China Resources SZITIC Trust Co Ltd, a unit of China Resources Corp, is planning to divest minority stake in Wal-Mart Stores Inc. The state-backed China Resources Trust has a minority stake in the US retailer's operations in China. Wal-Mart Stores Inc has 21 Wal-Mart outlets in China. China Resources has listed its stake for sale at Yuan3.3billion ($525million). It's estimated that China Resources has 35 percent stake in the Wal-Mart outlets in China. Wal-Mart believes the transfer of minority stake doesn't impact the operations in China.
Berkshire third-quarter profit drops on investments, operating results gain
Warren Buffett's Berkshire Hathaway Inc (BRKa.N) (BRKb.N) on Friday said third-quarter profit fell 9 percent as it took a large writeoff on one of its investments, but operating results easily topped forecasts amid improvement in its insurance, energy and railroad operations.
Tesco-Tata-owned Trent Hypermarket joint venture gets green light from Indian regulator
British retailer Tesco's $110 million investment in Tata-owned Trent Hypermarket has received approval from India's Department of Industry Policy and Promotion (DIPP). This will pave the way for Tesco to get a clearance from the country's Foreign Investment Promotion Board (FIPB).
Judge approves auction procedure for Tesco subsidiary retailer
The procedures for the Nov 19 auction had been approved by a bankruptcy court. US supermarket chain Fresh and Easy Neighborhood Market Inc won approval in court of its scheduled Nov.
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Tesco Plc had filed for bankruptcy for its US stores last Monday and planned a sale of 167 stores to Yucaipa Cos led by billionaire Ron Burkle.
Tesco said it has agreed on a joint venture with a state-run company in China. International retailer Tesco Plc agreed on a joint venture with China Resources Enterprise Ltd but will cede control to the state-run firm.
Bids, mergers, acquisitions and disposals involving European, U.S. and Asian companies. The following bids, mergers, acquisitions and disposals involving European, U.
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