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Nortek Inc to acquire ABB Ltd's ventilation and air conditioning business

Friday, 21 Mar 2014 08:00am EDT

Nortek Inc:Signed a definitive agreement to acquire the heating, ventilation and air conditioning (HVAC) business of Thomas & Betts Corporation, which is a wholly owned subsidiary of ABB Ltd.Wells Fargo Securities, LLC served as exclusive financial advisor to Nortek.Under the terms of the agreement, Nortek will pay about $260 million for in an all-cash transaction.T&B HVAC includes Reznor Manufacturing Company, LLC (U.S.), AmbiRad Ltd (U.K.), Reznor Europe, N.V. (Belgium), Gaz Industrie S.A.S. (France) and manufacturing operations in Monterrey, Mexico.

Tonly Electronics Holdings Ltd announces acquisition of remaining 20 pct equity interest in Tonly Electronics Limited

Wednesday, 26 Feb 2014 03:16am EST

Tonly Electronics Holdings Ltd:Says on Feb. 25, it entered into the agreement with the Vendors.Says pursuant to which the vendors have conditionally agreed to sell and the company has conditionally agreed to purchase the sale shares, representing 20 pct of the total issued share capital of the target company.Says pursuant to agreement it will in return allot and issue the consideration shares to the vendors as consideration for purchase of the Sale Shares.The target company is currently owned as to 80 pct and 20 pct respectively by a subsidiary of the company, Tonly International, and the Vendors.Upon completion, Tonly International shall become the registered holder of the sale shares and the target company will become a wholly-owned subsidiary of the consideration for purchase of the sale shares, the company will allot and issue 17,637,738 and 15,024,739 shares, being the consideration shares, to Run Fu and Star Force respectively.The Completion is expected to take place on or about May 07.

Digiland International Ltd announces memorandum of understanding for acquisition of oil projects

Monday, 24 Feb 2014 04:47am EST

Digiland International Ltd:Enters into memorandum of understanding with All Powerful Investment Limited.Says the company will acquire from APIL, through the acquisition of Earning Power Inc, an oil project having operational oil wells located in the Illinois Basin.Says it will also invest in, directly or indirectly from APIL, an oil project having operational oil wells in the USA.

Sony Corp's subsidiary to acquire assets from subsidiary of Renesas Electronics Corp

Wednesday, 29 Jan 2014 01:00am EST

Sony Corp and Renesas Electronics Corp:Says Renesas Yamagata Semiconductor Co., Ltd., which is a wholly owned subsidiary of Renesas Electronics Corp, will transfer a semiconductor manufacturing facility and related equipment at the Tsuruoka Factory to Sony Corp's wholly owned subsidiary Sony Semiconductor Corporation.Says the transaction price is 7.51 billion yen with effective date is Mar. 31.

China Merchants Land Limited announces acquisition of land

Thursday, 2 Jan 2014 05:00am EST

China Merchants Land Limited:Says on Dec. 30, 2013 Harpen Compnay Limited, a non wholly-owned subsidiary of the Company, has obtained the Land Transfer Confirmation for the land use right of the land parcel.Says the land parcel is in Foshan City, Guangdong Province, the People’s Republic of China for a total consideration of RMB1,042.8 million.Says the Land is designated for a mix of residential usage and wholesale and retail usage, the term for residential usage is 70 years and for wholesale and retail usage is 40 years.

Sony Corp aims to buy Renesas Electronics Corp chip fab- Nikkei

Tuesday, 3 Dec 2013 07:00pm EST

Sony Corp:Sony Corp seeks to purchase Renesas Electronics Corp' main chip fabrication facility and use it to make image sensors for smartphone and other devices- Nikkei.The two sides are expected to sign a memorandum of understanding as early as the beginning of week ending Dec. 13.If negotiations proceed smoothly, Sony will acquire shares in the Renesas unit that operates the Tsuruoka plant in Yamagata Prefecture by Mar. 31, 2014.The plant is expected to fetch about 10 billion yen ($96 million) and Sony aims to keep the price low as it restructures its money-losing electronics business.Sony is also expected to take on some of the 900 or so workers at the factory.Sony hopes to use the plant to fabricate complementary metal-oxide semiconductor (CMOS) sensors.


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Provider: Renaissance Capital
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