Telia Company to acquire TDC's Norway business for US$ 2.6 bn
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Essar builds India’s largest Iron ore handling complex at Vizag, Andhra Pradesh
A new Radisson Blu for Prague, Czech Republic
B&G Foods acquires McCann’s Irish Oatmeal
BMW Group joins Baidu to accelerate the Development of Autonomous Driving in China
Boeing & Jet Airways ink
US$ 8.8 billion deal
for 75 new jets
Baidu, Inc. and the BMW Group announced they have signed a Memorandum of Understanding (MoU), under which the BMW Group will join Apollo, the open autonomous driving platform by Baidu, as a board member. The partnership was made official during Chinese Premier Li Keqiang’s visit to Germany on July 10th to meet with German Chancellor Angela Merkel. The MoU marks the beginning of a new partnership on autonomous driving between the BMW Group and Baidu. The two companies seek to work together to bring safe, convenient and intelligent mobility experiences for consumers in China.
“BMW Group and Baidu have a long history of working together on advancing autonomous driving technology, and we have maintained a strong relationship throughout the years. BMW Group and Baidu have been actively exploring the intelligent vehicle sector and are well-aligned in our vision for the future of autonomous driving,” said Ya-Qin Zhang, President of Baidu. “We hope this deepened cooperation will bring Chinese consumers intelligent and comfortable product experiences. Our aim is to accelerate the development of autonomous driving technologies that align with the Chinese market,” he added.
BMW Group and Baidu join forces to accelerate the Development of Autonomous Driving in China
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Essar Vizag Terminal Ltd dedicated to the nation its newly commissioned 24 MTPA Vizag iron ore handling complex, which will be inaugurated by Shri. Nitin Gadkari, Hon’ble Minister for Road Transport & Highways, Shipping and Water Resources.
“The Vizag iron ore handling complex is a facility that is truly a national asset. We are committed to realising the Government’s vision of port-led development.” said Mr Prashant Ruia, Director-Essar.
With its state-of-the-art cargo handling equipment, the iron ore handling complex will have the fastest vessel turnaround time for iron ore among Indian ports. Following the project completion, the cargo loading capacity of the facility has been upgraded to 24 MTPA. The iron ore handling complex can now berth Super Capesize vessels up to 200,000 DWT, with a depth of 20 metres, on the outer harbour of Vizag Port.
Essar builds India’s largest iron ore handling complex at Vizag, Andhra Pradesh
Telia Company acquires GET and TDC Norway at an enterprise value of NOK 21 billion on a cash and debt free basis. Telia Company will combine its award-winning mobile network with GET’s supreme TV and fixed services to create a strong challenger on the Norwegian market with converged customer offerings.
The Danish operator TDC’s Norwegian business encompasses GET, a leading provider of fixed and TV services, with a total of 518,000 households and businesses connected to its fiber-based network, and more than 1 million private and business customers who use the TV and broadband services on a daily basis. TDC’s B2B business in Norway is also part of the transaction which paired with Telia’s enterprise business will enable converged offerings to B2B-customers.
The acquisition will strengthen Telia Company’s position on the Norwegian market and will position the company as a strong challenger in mobile, TV and broadband.
Telia Company to acquire TDC's Norway business in
a $2.6 billion Deal
Tidewater Inc. and GulfMark Offshore, Inc. announced that the Boards of Directors of both companies have unanimously approved a definitive agreement to combine the two companies. This combination, if consummated, will create a global offshore support vessel leader positioned to capitalize on significant cost synergies and superior growth opportunities as the OSV sector recovery gains traction.
The combined company will have the industry's largest fleet and the broadest global operating footprint in the OSV sector, with an unmatched ability to support customers across geo-markets and water depths. The financial strength and operating footprint of the combined company will also position it to sustain through-cycle market leadership.
Tidewater and GulfMark to combine in a $1.25 bn deal
Boeing and Jet Airways confirmed that the Indian carrier placed an order for an additional 75 737 MAX 8 airplanes during a signing ceremony at the 2018 Farnborough International Airshow. The order, valued at $8.8 billion at current list prices, was previously posted as unidentified on Boeing's Orders and Deliveries website.
This order for an additional 75 MAX airplanes helps the Indian carrier expand its network to meet surging demand in the fastest-growing aviation market in the world.
Boeing & Jet Airways ink $8.8 billion deal for 75 new jets
Boeing and DHL announced that the leading international express carrier has placed an order and commitment for 14 Boeing 777 Freighters, and purchase rights for 7 additional freighters.
The $4.7 billion order agreement, at current list prices, was unveiled at the opening of the 2018 Farnborough International Airshow. A portion of the order was previously unidentified on Boeing's Orders & Deliveries website. When the full order is finalized, it will also appear on the website.
"We are delighted to announce the acquisition of 14 new 777 Freighters as we renew part of our long-haul fleet with this best-in-class fuel efficient freighter type that will make a significant step towards DHL's zero emissions target by 2050," said Charlie Dobbie, Executive President of Global Network Operations & Aviation.
Boeing, DHL Express announce purchase of 14 Boeing 777 Freighters
U.S. airline Republic Airways to buy 100 Embraer jets for USD 9.3 billion
Embraer and Republic Airways, the world's largest E-Jet operator, announced at the 2018 Farnborough Airshow that they have signed a Letter of Intent (LoI) for a firm order of 100 E175, with the right to convert to E175-E2 aircraft, and purchase rights for an additional 100 E175 aircraft. If all purchase rights are exercised, the contract has a value of up to USD 9.3 billion based on current list prices.
Republic Airways and Embraer established their partnership in 1999 when one of its former subsidiaries, Chautauqua Airlines, took delivery of its first ERJ 145 in the livery of US Airways Express. Today, Republic Airline operates a fleet of nearly 190 Embraer 170/175 aircraft and provides fixed-fee flights operated under its major airline partner brands of American Eagle, Delta Connection and United Express.
Including this new contract, Embraer has sold more than 520 E175s to airlines in North America since January 2013, earning more than 80% of all orders in this 70-76-seat jet segment.
IHH Healthcare Berhad, through its wholly owned subsidiary Northern TK Venture Pte. Ltd. (“Northern TK”), was announced as the preferred bidder to acquire a controlling stake in Fortis Healthcare Limited (“Fortis Healthcare”), a leading healthcare service provider in India, through a combination of primary equity infusion and secondary purchase from public shareholders of Fortis Healthcare at an offer price of INR 170 per share (“Fortis Acquisition”).
As part of the Fortis Acquisition, IHH, through Northern TK, has entered into a share subscription agreement with Fortis Healthcare for INR 40 billion (RM 2,348 million / USD 582 million) subscription to a preferential allotment of equity shares, at a price of INR 170 per share. The preferential allotment will make IHH the largest shareholder in Fortis Healthcare with 31.1% stake and would trigger the requirement to make a mandatory open offer to the public shareholders of Fortis Healthcare for 26% of the outstanding shares, under the applicable provisions of Indian takeover code.
IHH Healthcare announces acquisition of controlling stake in Fortis Healthcare Limited
CeQur announced that the company has acquired select assets of Calibra Medical, Inc., one of the Johnson & Johnson Diabetes Care Companies. The transaction includes an exclusive worldwide license for the wearable, on-demand insulin delivery system previously known as OneTouch Via™. The Calibra system enables people with diabetes to discreetly and conveniently deliver rapid-acting insulin at mealtime. Financial terms were not disclosed.
"CeQur is dedicated to simplifying insulin dosing for people with diabetes, so that they can live healthier, more satisfying lives," said Robert Farra, chief executive officer of CeQur. "Clinical studies and real-world experience have shown that wearable, on-demand insulin delivery provides an ideal solution to the pervasive challenge of mealtime insulin delivery. The Calibra device is a perfect complement to PAQ, our basal and bolus insulin-infusion device. Both wearable devices provide simple, discreet, three-day insulin delivery without the barriers and discomfort created by injections."
CeQur acquires assets from Calibra Medical, Inc.
AMPAC Fine Chemicals, a leading US-based Contract Development and Manufacturing Organization announced its sale to SK Holdings ("SK"), an investment holding company of SK Group (South Korea). This acquisition is the largest M&A transaction announced in the Korean pharmaceutical industry.
Since February 2014, AFC has been owned by H.I.G. Capital ("H.I.G."), a global private equity firm. Under H.I.G.'s ownership, AFC expanded the manufacturing footprint at Rancho Cordova, CA facility, started AMPAC Analytical, acquired a state-of-the art plant in Petersburg, VA, substantially enhanced its product pipeline, and delivered industry-leading growth every year since acquisition.
SK is purchasing AFC due to its unique capabilities, world class facilities, excellent reputation, outstanding people and great growth potential. AFC is SK's sole CDMO operation in the US and will play a crucial part in SK's development as a global leader in pharmaceuticals manufacturing.
AMPAC Fine Chemicals to be acquired by SK Holdings
Cerner plans data intelligence in health through Partnership with IDA Ireland
Cerner will create 50 new roles focussed on R&D and the improvement of data intelligence and population health management for its European clients
Minister for Business, Enterprise and Innovation Heather Humphreys TD announced that, Cerner, a supplier of health and care technology and services, plans to significantly grow its Dublin hub for research and development. Working with the support of the Irish Government through IDA Ireland, Cerner will create 50 new roles focussed on R&D and the improvement of data intelligence and population health management for its European clients.
ASSA ABLOY acquires Planet GDZ in Switzerland
ASSA ABLOY has signed an agreement to acquire Planet GDZ, a leading supplier of door drop down seals and finger protection covers, based in Switzerland.
"I am very pleased to welcome Planet GDZ and their employees into the ASSA ABLOY Group. This acquisition delivers on our strategy to strengthen our position in the mature markets through adding complementary products and solutions," says Nico Delvaux, President and CEO of ASSA ABLOY. "Planet GDZ stands for innovative drop down seals and finger protection for all types of doors and will fill in a gap in our product portfolio in the important DACH (Germany, Austriaand Switzerland) markets and beyond, making ASSA ABLOY even more relevant to our current and future customers."
Planet GDZ was established in 1945 and has some 55 employees. The head office and factory is located in Zürich, Switzerland.
Sales for 2018 are expected to reach some CHF 18 million (approx. SEK 160 million) with a good EBIT margin and the acquisition will be accretive to EPS from start.
The acquisition is conditional upon regulatory approval and is expected to close during the third quarter of 2018.
Salesforce signs agreement to acquire Datorama
Salesforce has signed a definitive agreement to acquire Datorama, the leading cloud-based, AI-powered marketing intelligence and analytics platform for enterprises, agencies and publishers. Salesforce is excited to welcome Datorama’s incredible team to the Salesforce family.
Datorama enables more than 3,000 leading global agencies and brands—including PepsiCo, Ticketmaster, Trivago, Unilever, Pernod Ricard and Foursquare—to optimize marketing campaigns, automate reporting and make data-driven decisions faster.
Salesforce's acquisition of Datorama will enhance the power of Marketing Cloud with expanded data integration and intelligence, enabling marketers to unlock insights across all of their marketing channels and data sources. With one unified view of data and insights, companies can make smarter decisions across the entire customer journey and optimize engagement at scale.
Walmart Inc. announced it is establishing a strategic partnership with Microsoft Corp. to further accelerate Walmart’s digital transformation in retail, empower its associates worldwide and make shopping faster and easier for millions of customers around the world. Through this partnership, Walmart has chosen Microsoft as its preferred and strategic cloud provider tapping into the full range of Microsoft’s cloud solutions.
“Walmart’s commitment to technology is centered around creating incredibly convenient ways for customers to shop and empowering associates to do their best work,” said Doug McMillon, Walmart CEO. “Walmart is a people led, tech empowered company, and we’re excited about what this technology partnership will bring for our customers and associates. Whether it’s combined with our agile cloud platform or leveraging machine learning and artificial intelligence to work smarter, we believe Microsoft will be a strong partner in driving our ability to innovate even further and faster.”
“Walmart is a pioneering retailer, committed to empowering its employees and delivering the best experience for its customers wherever they are,” said Satya Nadella, CEO of Microsoft. “The world’s leading companies run on our cloud, and I’m thrilled to partner with Walmart to accelerate their digital transformation with Microsoft Azure and Microsoft 365.”
Walmart establishes strategic partnership with Microsoft
Didi Chuxing and Booking Holdings enter into Strategic Partnership
Didi Chuxing, the world's leading one-stop mobile transportation platform, and Booking Holdings, the global leader in online accommodations and travel e-commerce, announced that the two parties have entered into a strategic partnership.
Under the partnership, DiDi and Booking Holdings will leverage their technology capabilities and local operating expertise to offer more comprehensive and personalized quality travel experiences across the world.
With the partnership, Booking Holdings'brands will have the ability to offer on-demand car service through their apps, powered by DiDi, and DiDi customers will have the option to book hotels through Booking.com or agoda. In addition, Booking Holdings has invested USD 500 million in DiDi, recognizing DiDi as a leader in the mobile transportation industry.
Hyundai Motor Group (Hyundai) and Baidu announced the signing of a memorandum of understanding (MOU) for Internet of Vehicles (IoV), signaling their commitment to strengthening cooperation on next-generation connected car technologies. The newly-signed MOU will see the existing partnership — between the world's fifth-largest auto-making group and the leading Chinese language Internet search provider — reinforced to accelerate development of disruptive innovations in vehicle connectivity.
As a first step on the partnership’s roadmap, Hyundai and Baidu will co-develop a connected car service that provides a wide range of in-car content — real-time traffic status and live information about the user’s end-destinations for example — based on big data, maps, artificial intelligence (AI) and portal services. Through such a service, Hyundai and Baidu expect to meet the growing demand for connectivity services among consumers in China and beyond.
Hyundai and Baidu strengthen cooperation for connected car technologies
Kypha, a medical diagnostics company developing specialized biomarker testing solutions for precision monitoring of immune status and inflammation, has acquired Biosensia, a diagnostics platform and contract development company that strengthens Kypha’s product commercialization.
This acquisition demonstrates Kypha’s commitment to meet the need for universally accessible, reliable and timely immune status results in virtually any setting from acute hospital care, to centralized laboratories, physician offices and home use. The combined first-in-class platforms promise to quickly and accurately detect meaningful changes in immune-mediated disease activity for more effective treatment decisions and patient care.
Kypha acquires Biosensia
Venator Materials PLC announced it has reached agreement with Tronox Limited to purchase the European paper laminates business from Tronox. In connection with the acquisition, Tronox will supply the 8120 Grade to Venator under a Transitional Supply Agreement until the transfer of the manufacturing of the 8120 Grade to Venator's Greatham, U.K., facility has been completed.
Separately, Venator and Tronox have entered into an agreement to engage in exclusive negotiations until September 29, 2018, regarding the purchase by Venator of the Ashtabula, Ohio, complex currently owned by The National Titanium Dioxide Company Limited ("Cristal") for $1.1 billion if a divestiture of Ashtabula is required for Tronox to obtain approval for its proposed merger with Cristal after the U.S. District Court rules in the pending preliminary injunction hearing. The purchase price for Ashtabulawill be reduced to $900 million if, instead of promptly divesting Ashtabula, Tronox continues to await the decision of the FTC's Administrative Law Judge following an adverse ruling by the U.S. District Court.
Venator to purchase the Tronox European TiO2 paper laminates business
IHG signs InterContinental Colombo
Marks the brand’s homecoming in Sri Lanka and expands footprint across South West Asia
InterContinental Hotels Group (IHG), one of world’s leading hotel companies, has signed a management agreement with Pearl Grand Tower Hotel (Private) Limited, to bring back the InterContinental brand to the Sri Lankan capital. Due to open in 2019, InterContinental® Colombo will feature 307 rooms including 47 suites. This iconic development will be spread across 480,000 sq. ft. and the luxury hotel is expected to be the tallest hotel tower comprising 42 floors, in Colombo 3, an important and established commercial area of the city.
InterContinental Colombo will be located centrally along Galle Road, one of the arterial roads of Colombo, making it easily accessible for guests. Situated in close proximity to international and domestic Airports and 3 km from the city centre, the hotel will cater to the growing demand for business and leisure accommodation in the city.
Radisson Hospitality AB, publicly listed on Nasdaq Stockholm, Sweden, and part of Radisson Hotel Group™, is proud to announce the signing of the new Radisson Blu Hotel, Prague in Czech Republic. The upper upscale branded hotel will complement our Park Inn Hotel Prague – a city that is consistently ranked as one of the top 10 destinations in the world.
The Radisson Blu Hotel, Prague is a rebranding of an existing hotel and is scheduled to open in the second quarter of 2019. The hotel will undergo a full renovation to provide guests with the full Radisson Blu experience, including its personalized service and exquisite atmosphere. The historic hotel building is located at the heart of Charles Square and well-positioned within walking distance of both Prague’s Old Town and New Town.
Elie Younes, Executive Vice President & Chief Development Officer, Radisson Hotel Group, said: “We are delighted to sign a new Radisson Blu Hotel in Prague, one of Europe’s gateway cities. With this deal, our team further cements the leading position of Radisson Blu in Europe as the largest upper upscale brand, that is relevant to both investors and guests’’
B&G Foods acquires McCann’s Irish Oatmeal
B&G Foods, Inc. announced that effective it has acquired the McCann’s brand of premium Irish oatmeal from TreeHouse Foods, Inc. for approximately $32.0 million in cash, subject to customary closing and post-closing adjustments.
“We are delighted to welcome the McCann’s brand to the B&G Foods family,” stated Robert C. Cantwell, President and Chief Executive Officer of B&G Foods. “McCann’s is an excellent complement to our existing portfolio of brands, including our Cream of Wheat hot cereal brand. This acquisition is another example, along with our acquisitions of Green Giant, Spice Islands and other spices & seasoning brands, Victoria and Back to Nature, of our efforts in recent years to acquire better-for-you brands that taste great and resonate with today’s consumer.”
B&G Foods funded the acquisition and related fees and expenses with cash on hand and revolving loans under its existing credit facility
Nestlé inaugurates new Nescafé Dolce Gusto production in Vietnam
Nestlé has inaugurated a new Nescafé Dolce Gusto capsule production line in Dong Nai Province, Vietnam.
The site will process an expected 2,500 tons of coffee per year (equivalent to 130 million capsules), using high quality coffee beans from Vietnam. This volume is expected to increase in the coming years.
The investment reflects Nestlé’s clear focus on high-growth, high-margin categories, including coffee. It also meets the growing trend towards coffee drinking in many countries in Asia.
The new production site will provide Vietnamese coffee lovers with great products using indigenous beans. At the same time, approximately 90% of the Nescafé Dolce Gusto output from the Dong Nai facility will be exported to other markets in Asia including Thailand, the Philippines, Malaysia, Singapore, Hong Kong, Taiwan and Indonesia.
Saputo to sell its Koroit plant in Victoria, Australia
Saputo Inc. announces it has entered into an agreement with Bega Cheese Limited (ASX:BGA) to sell its Koroit plant in Victoria, Australia.
The selling price of approximately CDN$244 million (A$250 million) is payable in cash at closing. The transaction is subject to approval by the Australian Competition and Consumer Commission and is expected to close in the second quarter of Fiscal 2019.
This divestiture was required pursuant to the undertaking entered into with the Australian Competition and Consumer Commission in connection with the acquisition of the activities of Murray Goulburn Co-operative Co. Limited completed on May 1, 2018. The Koroit plant currently has approximately 110 employees and generates approximately CDN$234 million (A$240 million) in annual revenues.
The Asian Development Bank (ADB) will help roll out environment-friendly buses and promote green public transport in the People’s Republic of China (PRC) as part of a $400 million financing package for Minsheng Financial Leasing Co. Ltd. (MFL).
“Faced with immense environmental challenges, the PRC is aggressively promoting green transport as a way to reduce greenhouse gas emissions in urban areas,” said the Director of ADB’s Private Sector Financial Institutions Division Ms. Christine Engstrom. “ADB’s support to MFL will help promote market solutions that will provide people with cleaner and more sustainable modes of public transportation.”
“Chinese leasing enterprises play an important role in promoting the development of the green economy in the PRC,” said MFL President Ms. Wan Xiaofang. “MFL will continue to support green businesses by providing environmental pollution control products to continuously improve energy efficiency in traditional industries, reduce environmental pollution, and develop environment-friendly products to expand the environmental protection industry.”
ADB signs private sector deal to Support PRC's push for Green Urban Transport
EIB supports construction of Arctic white goods factory in Romania
The European Investment Bank (EIB) is lending EUR 68 million to white goods producer Arctic to finance the construction of a large-scale washing machine production plant featuring advanced manufacturing technologies and automation efficiency. This transaction is guaranteed by the European Fund for Strategic Investments (EFSI), which is the central pillar of the Investment Plan for Europe. The EFSI support will stimulate greenfield foreign direct investment to attract new investments and transform Romania into a white goods production hub for Europe.
After completion in 2019, the new factory will produce some 2.2 million washing machines a year. This will allow Arctic - currently the market leader in the Romanian white goods market with more than 40% market share - to meet increasing demand in the European market. Arctic is part of the Arçelik Group - the third largest producer of white goods in Europe and the seventh largest in the world.
The project is highly innovative, enabling the implementation of the latest automation processes and the integration of Internet of Things applications, including intelligent machines, inter connected devices and cooperative robotics technologies. Thanks to Arctic’s investment, the region will become an innovation centre with the potential to attract further investments.
EIB Vice President Andrew McDowell commented: “This highly innovative project, supported by the Investment Plan for Europe, will create 480 direct jobs and 900 additional working opportunities at a supplier level. The facility will be located in the South-Muntenia region, which is facing structural economic challenges following steel industry closures and is characterized by high unemployment and a low degree of technology manufacturing. For this reason, the investment has a great value for the region.”
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