Warren Buffett takes 3 percent stake in Germany's Lanxess
FRANKFURT Lanxess disclosed on Monday that Berkshire Hathaway , the conglomerate run by billionaire Warren Buffett, had acquired a 3 percent stake in the German chemicals maker.
LONDON J Sainsbury (SBRY.L), Britain's third largest supermarket group, said on Tuesday it was in advanced negotiations with Lloyds Banking Group (LLOY.L) to take full ownership of the Sainsbury's Bank joint venture.
The statement was prompted by media speculation over the weekend that Sainsbury's was on the verge of buying out Lloyds' 50 percent stake in the bank.
Sainsbury's was the first major British supermarket to open a bank, commencing trading, through the joint venture, in February 1997.
Sainsbury's Bank provides a range of products including insurance, credit cards, savings and loans.
A Sainsbury's buyout of Lloyds' stake would mirror grocery market leader Tesco's (TSCO.L) acquisition of RBS's (RBS.L) stake in Tesco Personal Finance five years ago.
Sainsbury's is scheduled to publish 2012-13 results on Wednesday.
(Reporting by James Davey, Editing by Paul Sandle)
BRUSSELS EU antitrust regulators approved on Monday French utility EDF's planned takeover of the nuclear reactors business of Areva , confirming a Reuters report earlier this month.
AMSTERDAM A Dutch court on Monday rejected a request by Akzo Nobel investors for it to take immediate action against the company over its rejection of a takeover bid by U.S. rival PPG Industries , handing the Dutch company a victory in its efforts to repel the U.S. firm's 25 billion euro ($28 billion) proposed offer.