HNA negotiated the sale of shares of Avolon, the world's third largest aircraft leasing company, to Japan Olix
According to Reuters , the negotiations to sell minority shares of Avolon Holdings Ltd to Japan stake in the aircraft leasing company, have entered an in-depth stage. One of the sources told Reuters that HNA Group is seeking to sell 25%-30% of Avolon's interests, and said there are other parties involved in the negotiations. Bloomberg reported earlier that the transaction could exceed $2 billion. Headquartered in Dublin, Avolon is the third largest aircraft leaser in the world, with 890 aircraft and a customer base covering 156 airlines. Orix Aviation, wholly-owned subsidiary, is also headquartered in Dublin and is one of the top 15 aircraft leasing companies in the world. (Reuters)
Poly Group intends to acquire musical instrument manufacturer Steinway
According to Bloomberg quoting sources, Steinway Sons, which is famous for its platform pianos, has attracted the interest of the acquisition of China Poly Group . Steinway is currently controlled by US hedge fund billionaire John Paulson. Bloomberg reported that Poly Group is in the initial stage of considering proposing a purchase price, and other bidders may also appear. Steinway was privately owned by John Paulson's hedge fund Paulson Co in 2013 for approximately $512 million. (Reuters)
Japanese Tobacco plans to buy Bangladesh Akij Group tobacco business
According to Reuters, Japan Tobacco Inc., the world's third largest cigarette manufacturer, will purchase the tobacco business under Bangladesh Akij Group for about 1.5 billion US dollars. It is the second major acquisition of Japan Tobacco in five months, and the company looks for new growth markets to offset the impact of shrinking domestic sales. The Tk124.3 billion (US$1.5 billion) acquisition is the largest transaction in history involving Bangladesh companies, according to Thomson Reuters. Previously, Japan Tobacco agreed in March to spend about 90 billion rubles (US$1.42 billion) to buy Russia's Donskoy Tabak. (Reuters)
Toyota will sell equity in Japan Isuzu and cancel capital cooperation
Japan Isuzu Motors announced that it will terminate its capital cooperation relationship with Toyota. Toyota will sell all its shares in Isuzu to Isuzu, which will invest 80 billion yen to buy back the shares. Toyota plans to promote the development of new generation technology for commercial vehicles such as trucks with its subsidiary Hino Auto as the core. In 2006, Toyota invested 5.89% in Isuzu. The two sides discussed jointly developing a diesel engine with a displacement of 1,600cc and building a new factory in Hokkaido for production, but no obvious results were achieved. (Global Network)
private equity fund TSG's wine group Duckhorn acquired Duckhorn Wine Company (hereinafter referred to as DWC), a wine manufacturer under the famous California wine estate Kosta Browne
private equity fund TSG Consumer Partners (hereinafter referred to as TSG), announcing the acquisition of Kosta Browne, a well-known American Pinot Noir wine winery. After the transaction, DWC will replace Kosta Browne's current shareholder, private equity fund J.W.Childs, as its sole owner. DWC's assets acquired include Kosta Browne's winery and tasting room in Sebastopol, the company's assets and inventory, and 80 acres of owned property and 90 acres of long-term leased vineyards. TSG acquired wine group DWC in 2016, which is considered one of the world's top wine manufacturers. (Hualizhi)
Schaeffler acquires Paravan's wire-controlled drive technology and establishes a joint venture
Schaeffler reaches an agreement with German company Paravan to acquire the latter's wire-controlled drive technology Space Drive, and says that the technology will play a key role in future autonomous vehicles. Meanwhile, as part of the agreement, the parties are creating a joint venture in which Schaeffler owns 90% of the shares. Space Drive is developed by Paravan to help people with physical disabilities. This technology allows vehicles to turn and stop by purely electronic means, thus eliminating the need for a steering wheel or steering column. Schaeffler Group is a leading company in the global production of rolling bearings and linear motion products, with three brands, INA, FAG and LUK.(Games)
US Department of Justice warns: ATT's acquisition of Time Warner may push up the price of paid TV
US Department of Justice filed a public document with the Washington, DC Court of Appeal, hoping to prevent ATT's acquisition of Time Warner. The U.S. Department of Justice believes that the initial ruling has two fundamental errors, including how service providers like DirecTV will negotiate content fees with cable channels such as TNT or CNN, and how multiple departments can work together to maximize profits. The Justice Department warned: "As distributors pass on high costs, American consumers may spend hundreds of millions of dollars more each year for paid TV services." (Sina Technology)
American electric vehicle charging startup Ample received $31 million in Series A financing
American electric vehicle charging startup Ample announced that it has completed a Series A financing, with a total financing of $31 million. The round was led by venture capital firms owned by Shell, the largest oil and gas company in the UK. The funds raised will be used to deploy Ample's charging technology in the next few months. Ample has invented an economical, fast-deployable and widely applicable platform that can fully charge any electric vehicle in minutes. As an alternative to traditional charging, Ample uses automated robots and smart battery technologies to enable anyone to own electric vehicles regardless of driving needs, economic conditions or geographical location. (Gashi Auto)
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