2006-09
28 15:47:20Pemco to sell unit, extends credit deal
BIRMINGHAM, Ala. (AFX) - Pemco Aviation Group Inc., a provider of aircraft maintenance and modification services, said Thursday it entered into a tentative deal to sell its engineering unit and plans to extend its revolving credit agreement.
2006-09
28 15:22:20Finmeccanica's Ansaldo Energia acquires Thomassen Turbine for 18.5 mln eur
MILAN (AFX) - Finmeccanica SpA unit Ansaldo Energia said it is acquiring all the shares in Dutch firm Thomassen Turbine System BV from Calpine European Finance LLC of the US for 18.5 mln eur.
2006-09
28 15:18:38EMI in 50 mln usd sale and leaseback deal for Capital Tower in LA
LONDON (AFX) - EMI Group PLC said it agreed to sell the famous Capitol Records Tower in Los Angeles to Argent Ventures for 50 mln usd.
2006-09
28 15:14:05Neiman Marcus 4Q, annual profit down
DALLAS (AFX) - Luxury department store chain Neiman Marcus Inc. said Thursday fourth-quarter profit fell, weighed by higher borrowing costs following its takeover and amortization of customer lists and other items.
2006-09
28 14:59:31Holidaybreak buys 2 German tour operators for up to 12 mln eur
LONDON (AFX) - Holidaybreak PLC said it has bought German tour operators carpe diem Sprachreisen GmbH, and TravelWorks GmbH from their private owners Thomas Meier and Janine Wegman for up to 12 mln eur.
2006-09
28 14:55:31Office Depot buys China distributor
DELRAY BEACH, Fla. (AFX) - Office Depot, a retailer of office products and supplies, said Thursday it agreed to buy a controlling stake in China-based office products dealer AsiaEC, expanding the U.S. company's distribution channels in Asia.
2006-09
28 14:55:30Denny's completes sale of properties
SPARTANBURG, S.C. (AFX) - Restaurant chain Denny's Corp. said Thursday it has completed the sale of 60 franchisee-operated properties to real estate investment trust National Retail Properties Inc. for $62 million in cash.
2006-09
28 14:33:27Zila shareholders OK $37.5M divestiture
PHOENIX (AFX) - Drug maker Zila Inc. on Thursday said its shareholders approved the previously announced sale of its Zila Nutraceuticals subsidiary to NBTY Inc. for $37.5 million in cash.
2006-09
28 14:26:43PARIS CAR SHOW Fiat sees 2010 sales reaching over 3 mln units vs 1.8 in 2005
MILAN (AFX) - Fiat SpA chairman Sergio Marchionne said the group's Fiat Auto car unit expects to sell slightly more than 3 mln cars in 2010 compared with 1.8 mln in 2005, the Italian news agency Radiocor reported from the Paris car show.
2006-09
28 14:18:59PNC to sell $2B in residential mortgages
NEW YORK (AFX) - PNC Financial Services Group Inc., parent of PNC Bank, on Thursday said it plans to sell or securitize about $2 billion of residential mortgage loans.
2006-09
28 14:16:44TOP Tankers sells vessel for $4 million
NEW YORK (AFX) - Greek oil shipping company TOP Tankers Inc. on Thursday said it sold one of its tankers to an undisclosed buyer for about $4 million.
2006-09
28 14:09:22EDF to sign nuclear deal with Enel when Italian regulations 'clarified'
PARIS (AFX) - Pierre Gadonneix, CEO of Electricite de France, said he will sign a nuclear power cooperation deal with Enel SpA only when the regulatory situation in Italy is 'clarified.'
2006-09
28 13:53:53Barr clears final hurdle to buy Adderral
WOODCLIFF LAKE, N.J. (AFX) - Barr Pharmaceuticals Inc., a generic drug maker, on Thursday said it received final regulatory clearance for its previously announced acquisition of Shire PLC's Adderall drug for $63 million.
2006-09
28 13:42:33SWX launches preliminary Serono probe after Merck acquisition
ZURICH (AFX( - SWX Swiss Exchange said it has launched a preliminary investigation into Serono SA over the alleged breach of publicity rules in connection with the company's takeover by Germany's Merck KgaA.
2006-09
28 13:19:16Taiwan's BenQ says to discontinue investing in German mobile phone unit2
TAIPEI (XFN-ASIA) - BenQ Corp (2352.TW) said its board has decided to discontinue capital injection into its German mobile phone subsidiary, BenQ Mobile GmbH & Co OHG.
2006-09
28 13:17:43Pilgrim's Pride in Gold Kist tender offer
PITTSBURGH (AFX) - Chicken producer Pilgrim's Pride Corp. said Thursday it plans to make a tender offer to buy Gold Kist Inc., the No. 3 chicken producer in the U.S., for $20 per share in cash, or about $1 billion plus the assumption of around $144 million in debt.
2006-09
28 13:03:43Spansion to sell Japan plants to Fujitsu
SUNNYVALE, Calif. (AFX) - Flash memory device maker Spansion Inc. said Thursday it agreed to sell its older JV1 and JV2 manufacturing facilities in Aizu-Wakamatsu, Japan to Fujitsu for about $150 million in cash, payable in the second quarter of 2007.
2006-09
28 13:03:42Walt Disney unit to buy Climax Racing
NEW YORK (AFX) - Walt Disney Co.'s Buena Vista Games Inc. videogame unit said Thursday that it agreed to acquire racing games developer Climax Racing from Climax Group Ltd. for an undisclosed amount.
2006-09
28 13:03:21PALO ALTO, Calif. (AFX) - Hewlett-Packard Co. announces resignation of general counsel Ann Baskins.
2006-09
28 13:03:14Power-One buys Magnetek division
CAMARILLO, Calif. (AFX) - Power conversion product maker Power-One Inc. said Thursday it agreed to buy Magnetek Inc.'s power electronics group for $71.7 million and the assumption of about $16.7 million in debt.
2006-09
28 13:02:58Crescent sells Houston office property
NEW YORK (AFX) - Crescent Real Estate Equities Co., a real estate investment trust that develops office properties, on Thursday said it expects to record a $23 million gain from the sale of Four Westlake Park, a 561,065-square-foot office property in Houston.
2006-09
28 13:02:38Wipro buys Hydrauto Group for $31 million
NEW YORK (AFX) - Wipro Ltd., an Indian information technology service provider, said late Wednesday it purchased Swedish firm Hydrauto Group AB, which supplies hydraulic components and services in Europe, for $31 million in cash.
2006-09
28 12:55:56Pilgrim's Pride offers to buy Gold Kist for 1 bln usd plus 144 mln usd in debt
PITTSBURG, Texas (AFX) - Pilgrim's Pride Corp said it is planning a tender offer to purchase all outstanding shares of Gold Kist Inc stock for 20 usd per share in cash, in a transaction valued at around 1 bln usd, plus the assumption of about 144 mln usd in debt.
2006-09
28 12:41:32PARIS CAR SHOW No 'serious discussions' between GM and Ford about alliance
PARIS (AFX) - General Motors and Ford Motor Co are not currently involved in 'serious discussions' about a possible alliance, GM CEO Rick Wagoner told reporters at the Paris car show.
2006-09
28 12:29:513i invests 100 mln eur in 30 pct stake in Spanish construction company
LONDON (AFX) - 3i, the UK private equity company, said it has invested 100 mln eur in a 30 pct stake in Spanish construction group Sistemas Tecnicos de Encofrados (Sten).
2006-09
28 12:18:53RSA credit rating placed on review by Moody's; upgrade 'possible'
LONDON (AFX) - Moody's Investor Service said that it has placed Royal & Sun Alliance's Baa1 credit rating on review with regard to a possible upgrade after the UK insurer sold off its US operation for 158 mln stg to Arrowpoint, a buyout vehicle created by its US management team.
2006-09
28 12:12:18Vodafone launches self-branded phone; rules out taking stake in Huawei
HONG KONG (XFN-ASIA) - Vodafone Group plc of the UK launched its first self-branded third generation mobile phone today, with plans to distribute it in 21 countries over the next five years.
2006-09
28 12:02:24EU merger reviews at a glance outlook
BRUSSELS (AFX) - The following mergers and joint venture agreements have been notified to the European Commission for regulatory clearance.
2006-09
28 11:47:583i invests 100 mln eur in 30 pct stake in Spanish construction company Sten
LONDON (AFX) - 3i, the UK private equity company, said it has invested 100 mln eur in a 30 pct stake in Spanish construction group Sistemas Tecnicos de Encofrados (Sten).
2006-09
28 11:26:49Ferrovial obtains 8.970 bln stg syndicated loans for BAA buy
MADRID (AFX) - Grupo Ferrovial's ADIL consortium said it has obtained syndicated loans for a total of 8.970 bln stg to finance its acquisition of BAA PLC.
2006-09
28 11:22:04DCN now sees Thales tie-up by end-autumn; FY opg profit, sales, margin seen down
PARIS (AFX) - The tie-up between Thales and state shipyard Direction des Constructions Navales (DCN), already delayed several times amid ongoing negotiations, is now expected to be completed by 'the end of autumn' instead of the previously stated October, DCN chief executive Jean-Marie Poimboeuf said in an interview with the daily Les Echos.
2006-09
28 11:19:22PARIS CAR SHOW VW denies rumoured interest in taking over MAN
PARIS (AFX) - Volkswagen AG denied market rumours that it is interested in taking over MAN AG, a VW spokeswoman said at the Paris Car Show.
2006-09
28 11:10:27VW denies rumoured interest in taking over MAN
PARIS (AFX) - Volkswagen AG denied market rumours that it is interested in taking over MAN AG, a VW spokeswoman said at the Paris Car Show.
2006-09
28 11:09:33Huntsman to sell European commodities business to SABIC for 700 mln usd
LONDON (AFX) - Huntsman Corp said is has agreed to sell its European base chemicals and polymers business to Saudi Arabian Basic Industries Corporation (SABIC) for 700 mln usd.
2006-09
28 10:25:52Vodafone says no plans to raise stake in China Mobile
HONG KONG (XFN-ASIA) - Vodafone Group plc said it has no plans to increase the small stake currently held by it in China Mobile, though it is monitoring services on the mainland.
2006-09
28 10:24:36SonaeCom confirms bid for Portugal Telecom cleared with conditions
LISBON (AFX) - SonaeCom said in a statement on bourse regulator CMVM's website that competition authority AdC (Autoridade da Concorrencia) has cleared its bid for Portugal Telecom with certain conditions.
2006-09
28 09:54:51Inmocaral confirms now holds about 93 pct of Colonial after bid
MADRID (AFX) - A Grupo Inmocaral SA spokeswoman said that according to internal estimates, the property company now owns about 93 pct of peer Inmobiliaria Colonial SA on completion of its full bid at 63 eur per share, confirming earlier media reports.
2006-09
28 09:48:43Thames Water to sell stake in Indonesia's Thames PAM Jaya
JAKARTA (XFN-ASIA) - PT Thames PAM Jaya (TPJ) said in a statement that its major shareholder, U.K.-based firm Thames Water Plc, has agreed to sell its entire 95 pct stake in the joint venture to Acuatico Pte Ltd for an undisclosed sum.
2006-09
28 09:39:24Cofinimmo buys 7 homes for the elderly; agrees tie-up with Anwerp authorities
BRUSSELS (AFX) - Belgian real estate group Cofinimmo SA said it has acquired seven homes for the elderly throughout Belgium, as well as signing an agreement to build a new fire station and police station in Antwerp.
2006-09
28 09:22:28SonaeCom bid for Portugal Telecom cleared with conditions - Espirito Santo has approved SonaeCom's bid for Portugal Telecom with certain conditions, Espirito Santo Research said in a note.
2006-09
28 09:20:30SocGen launches 2.4 bln eur rights issue and targets control of Rosbank
PARIS (AFX) - Societe Generale said it is launching a 1-for-20 rights issue to raise 2.4 bln eur as it doubled its stake in Russian bank Rosbank to 20 pct and said the seller of the additional 10 pct stake, the private investment firm Interros, may in turn take a stake in Societe Generale. For more information and to contact AFX: www.afxnews.com and www.afxpress.com