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Friday, December 1, 2017

Sale of the century? $300-billion Saudi state sell-off moves slowly

DUBAI/RIYADH (Reuters) - Saudi Arabia's $300-billion privatization program was billed as the sale of the century when Crown Prince Mohammed bin Salman unveiled his plan to great fanfare. Nineteen months later, it is moving at a snail's pace, bankers, investors and analysts familiar with the process say.

Lufthansa offers EU concessions over Air Berlin asset buy

BRUSSELS (Reuters) - German airline Lufthansa has offered concessions to try to allay competition concerns about its plan to buy Air Berlin assets, EU antitrust regulators said on Friday.

Carrefour and Fnac Darty discussing purchasing alliance: report

PARIS (Reuters) - French retailers Carrefour and Fnac Darty are discussing an alliance to negotiate better terms when purchasing from electronics suppliers, French finance website BFM Business reported on Friday.

Intel cuts stake in ASML to below 5 pct

AMSTERDAM (Reuters) - Chipmaker Intel has cut its stake in Dutch semiconductor equipment supplier ASML to 4.96 percent, according to a filing published by the Dutch Financial Markets Authority on Friday.

Tencent Music, Spotify in talks to swap stakes: WSJ

(Reuters) - The music group of China's Tencent Holdings Ltd and Sweden's Spotify AB are in talks to swap stakes up to 10 percent in each other's businesses ahead of their expected public listings next year, the Wall Street Journal reported on Friday.

China's Citic completes $1.1 billion acquisition of Dow seeds assets in Brazil

RIBEIRÃO PRETO (Reuters) - China's Citic Agri Fund on Friday said it has completed the $1.1 billion acquisition of Dow's corn seed business in Brazil, rebranding the company as LP Sementes Ltda.

South Korea's AJ Networks considers rental car company stake sale

SEOUL (Reuters) - South Korea's AJ Networks Co said on Friday it was considering the sale of its stake in rental car company AJ Rent A Car and other options to beef up its competitiveness.

Maersk Oil, partners to invest $3.4 billion in North Sea gas field Tyra

COPENHAGEN (Reuters) - Maersk Oil, part of Denmark's A. P. Moller-Maersk, and its partners in the Danish Underground Consortium (DUC) have decided to invest 21 billion Danish crowns ($3.36 bln) in redeveloping the Tyra gas field in the North Sea.

Nippon Life to buy 25 percent of U.S. asset manager TCW from Carlyle

TOKYO (Reuters) - Nippon Life Insurance Co [NPNLI.UL], Japan's biggest private sector life insurer, has agreed to buy 24.75 percent of U.S. investment firm TCW Group Inc from U.S. asset manager Carlyle Group LP , the three companies said on Friday.

Barclays announces final sale of stake in Barclays Africa

LONDON (Reuters) - Barclays will sell a 7 percent stake in Johannesburg-based Barclays Africa Group on December 5, the British bank said on Friday, the latest and likely last in a series of such sales as it ends more than 90 years as a major presence on the continent.