3 Min Read
LONDON, Feb 10 (Reuters) - Singapore’s sovereign wealth fund GIC has teamed up with Chinese asset manager CDH Investments to submit a joint offer for the $3.6 billion home appliance business of Philips, two sources told Reuters.
The duo is facing competition from Asia-focused private equity firm Hillhouse Capital and a consortium of Citic Capital, Sequoia and TCL Capital, the sources said, speaking on condition of anonymity.
Philips has put pressure on the bidders to finalise their binding offers by the end of March and raised the prospect of ditching the sale and pursuing an alternative listing of the business, which produces coffee machines, vacuum cleaners and air fryers.
By Reuters Staff
3 Min Read
TOKYO, Feb 8 (Reuters) - Japanese shares rose sharply on Monday, with both Nikkei and Topix hitting 30-year highs, as strong corporate earnings lifted investor confidence for an economic recovery from pandemic lows.
The Nikkei share average jumped 2.09% to 29,380.12 by 0210 GMT, the highest level since August 1990, while the broader Topix rose 1.75% to 1,923.96, the highest since June 1991.
“With the vaccine rollouts and the fall in the number of daily COVID-19 infections, expectations for normalization of the economy is rising,” said Soichiro Matsumoto, chief investment officer Japan at Credit Suisse Private Banking.
“Better-than-expected corporate performance in this environment is also lifting sentiment. Many U.S. firms have reported upbeat results and Japanese companies, particularly those sensitive to overseas demand, are following suit.”
By Reuters Staff
(Adds details on transaction and Friday acquisition)
PARIS, Jan 25 (Reuters) - French media conglomerate Vivendi said on Monday it had raised its stake in Spanish rival Prisa, the owner of Spain’s influential El Pais newspaper and other media assets, to 9.9% from 7.6%.
On Friday, Vivendi had announced it had bought the 7.6% stake, saying the move responded to the group’s strategy to become “a global leader in content, media and communications” and to extend its reach in the Spanish-language markets in Europe, Latin America and United States.
Vivendi said it bought the stake hours after HSBC had agreed to sell a 7.89% stake in Prisa for 52 million euros ($63.3 million).
By Reuters Staff
(Adds details on transaction and Friday acquisition)
PARIS, Jan 25 (Reuters) - French media conglomerate Vivendi said on Monday it had raised its stake in Spanish rival Prisa, the owner of Spain’s influential El Pais newspaper and other media assets, to 9.9% from 7.6%.
On Friday, Vivendi had announced it had bought the 7.6% stake, saying the move responded to the group’s strategy to become “a global leader in content, media and communications” and to extend its reach in the Spanish-language markets in Europe, Latin America and United States.
Vivendi said it bought the stake hours after HSBC had agreed to sell a 7.89% stake in Prisa for 52 million euros ($63.3 million).