(IN BRIEF) Equinor has completed the sale of its 40% operated interest in Brazil’s Peregrino oil field to PRIO for a total of USD 2.33 billion, receiving USD 1.55 billion at closing. The transaction transfers full operatorship of the field … Read the full press release
Posted in Business, Energy, Gas & Oil, Industrial, Investment, Management, Norway
Tagged Bacalhau, Brazil, Campos basin, divestment, energy transition, Equinor, Equinor Completes Sale of 40% Operated Interest in Brazil’s Peregrino Field to PRIO, international operations, investment, offshore production, oil and gas, Peregrino field, Petrobras, Philippe Mathieu, portfolio optimization, PRIO, PRIO Assumes Full Control of Peregrino Field as Equinor Concludes Sale of 40% Operated Interest, Raia gas project, Rio de Janeiro, Roncador, Stavanger, Veronica Coelho
(IN BRIEF) Schaeffler AG has signed an agreement to sell its Chinese turbocharger business, operating under Vitesco Automotive Shanghai Co., Ltd., to Chengdu Xiling Power Science & Technology Incorporated Company. The move is part of Schaeffler’s broader portfolio streamlining initiative … Read the full press release
Posted in Business, Electronics & Machinery, Germany, Industrial, Investment, Management, News, Technology
Tagged acquisition, automotive industry, business restructuring, Chengdu Xiling Power Science & Technology, CHINA, divestment, Klaus Rosenfeld, mobility strategy, portfolio streamlining, regulatory approval, Schaeffler Advances Strategic Realignment with Sale of Chinese Turbocharger Operations, Schaeffler AG, Schaeffler Capital Markets Day, Schaeffler Transfers Declining Turbocharger Unit in China to Chengdu Xiling Power, turbocharger business, Vitesco acquisition, Vitesco Automotive Shanghai, Vitesco Technologies, Xiling
(IN BRIEF) Evonik has sold its betaines production site in Bekasi, Indonesia, to Aekyung Chemical Co., Ltd., furthering its transformation into a sustainable specialty chemicals provider. The sale includes the entire PT Evonik Sumi Asih joint venture and its 60 … Read the full press release
Posted in Chemicals, Germany, Industrial, Investment, Management, Metals and Minerals, Technology
Tagged Aekyung Chemical, Asia-Pacific, Bekasi, betaines, Biosurfactants, care solutions, Chemical Industry, divestment, eco-friendly ingredients, esters, Evonik, Evonik divests Bekasi site in Indonesia as part of global shift toward biosurfactants and specialty care ingredients, Evonik strengthens focus on sustainable chemistry with sale of betaines business to South Korea’s Aekyung Chemical, Indonesia, life sciences, personal care, PT Sumi Asih, specialty chemicals, strategic transformation, surfactants, sustainable chemistry, Ute Schick
(IN BRIEF) FrieslandCampina has signed an agreement to sell its Romanian subsidiary—including the Napolact brand and production sites in Cluj-Napoca and Târgu Mureș—to Bonafarm Group. The divestment stems from a strategic evaluation aimed at focusing on core European markets, high-margin … Read the full press release
Posted in Agriculture, Business, Environment, Financial, Food & Beverage, Government, Hungary, Industrial, Infrastructure & Utilities, Investment, Management, Marketing, Netherlands, News, Romania, Technology
Tagged Attila Csányi, Bonafarm Group, Business Group Europe, Cluj-Napoca, dairy industry, divestment, Dustin Woodward, high value-added segments, milk valorisation, Napolact, partnership, regulatory approval, Romanian Competition Authorities, Royal FrieslandCampina N.V., strategic review, sustainability, synergy, Târgu Mureș
(IN BRIEF) BayWa AG has agreed to sell Cefetra to Peter Goedvolk’s First Dutch, subject to regulatory approval, trimming its bank debt by over €650 million. Combined with a €500 million liability reduction from Raiffeisen Ware Austria shares earlier in … Read the full press release
Posted in Agriculture, Business, Economy, Financial, Germany, Government, Industrial, Investment, Management, Marketing, Netherlands, News, Technology
Tagged agricultural equipment, agriculture, antitrust approval, BayWa AG, building materials, Cefetra, debt reduction, divestment, Dr Frank Hiller, First Dutch, global supply chains, Heating & Mobility, liquidity, Michael Baur, partnership, Peter Goedvolk, Raiffeisen Ware Austria, transformation strategy
(IN BRIEF) Metso has agreed to sell its Ferrous business, including the travelling grate pelletizing and Circored™ direct reduction process, to SMS group, a global leader in metals industry technology. This deal, set to close in the first quarter of … Read the full press release
Posted in Business, Financial, Finland, Germany, Government, Industrial, Investment, Management, Metals and Minerals, News, Technology
Tagged Battery minerals, Circored™ technology, copper, discontinued operations, divestment, Ferrous business, financial terms, green transformation, Metso, Minerals segment, partnership, Piia Karhu, regulatory approvals, SMS group, Thomas Hansmann, travelling grate pelletizing
(IN BRIEF) Equinor Brasil Energia Ltda., a subsidiary of Equinor ASA, has finalized an agreement with PRIO Tigris Ltda. for the sale of its 60% operated interest in the Peregrino field offshore Brazil. The total transaction value amounts to USD … Read the full press release
Posted in Business, Energy, Gas & Oil, Environment, Financial, Government, Industrial, Infrastructure & Utilities, Investment, Management, News, Norway, Technology
Tagged Bacalhau, Brazil, Campos basin, divestment, Equinor ASA, Equinor Brasil Energia Ltda, floating production storage and offloading, FPSO, offshore oil fields, oil and gas operations, oil production, partnership, Peregrino field, Philippe Mathieu, PRIO, PRIO SA, PRIO Tigris Ltda., PRIO3.SA, Raia gas project, regulatory approval, Sinochem, sustainability, transaction, Veronica Coelho
(IN BRIEF) Shell Singapore Pte Ltd has finalized the sale of its Energy and Chemicals Park to CAPGC Pte. Ltd., through the sale of shares in Aster Chemicals and Energy Pte. Ltd. This move supports Shell’s strategy to refine its … Read the full press release
Posted in Business, Energy, Gas & Oil, Environment, Financial, Government, Industrial, Infrastructure & Utilities, Investment, Management, News, Technology, United Kingdom
Tagged Aster Chemicals and Energy Pte. Ltd., CAPGC, CAPGC Pte. Ltd., Chandra Asri Capital Pte. Ltd., Chandra Asri Group, Chemicals and Products business, divestment, electric vehicle charging, Energy and Chemicals Park, Glencore, Glencore Asian Holdings Pte. Ltd., LNG, partnership, Regional Hub, Shell plc, Shell Singapore Pte Ltd, Singapore, sustainability
(IN BRIEF) Henkel has completed the sale of its Retailer Brands business in North America to First Quality Enterprises, marking the final step in its portfolio optimization strategy. The business, which includes products in the detergents, fabric finishers, and dishwash … Read the full press release
Posted in Business, Chemicals, Germany, Investment, Retail
Tagged acquisition, all®, Carsten Knobel, Consumer Brands, detergents, Dial®, dishwash categories, divestment, fabric finishers, First Quality Enterprises, got2b®, Henkel, laundry and home care market, North America, portfolio optimization, regulatory approvals, Retailer Brands business, Schwarzkopf®, Snuggle®, Strategic fit, Wolfgang König
(IN BRIEF) BASF, in line with its global strategy for 1,4-butanediol (BDO), commenced the process to divest its shares from joint venture companies in Korla, China, due to environmental concerns and evolving market dynamics. The decision follows an assessment of … Read the full press release
Posted in Business, Chemicals, Economy, Environment, Financial, Germany, Government, Industrial, Management, News
Tagged BASF, CHINA, divestment, sustainability, Xinjiang Joint Ventures
(IN BRIEF) Equinor has signed an agreement to sell all its remaining assets in Azerbaijan to SOCAR (State Oil Company of Azerbaijan Republic). These assets include stakes in the Azeri Chirag Gunashli (ACG) oil fields, the Baku-Tbilisi-Ceyhan (BTC) pipeline, and … Read the full press release
Posted in Business, Energy, Gas & Oil, Industrial, Investment, Norway
Tagged ACG, Azerbaijan, Azeri Chirag Gunashli, Baku-Tbilisi-Ceyhan, BP, divestment, Equinor, oil fields, Philippe Mathieu, Rovshan Najaf, SOCAR
(IN BRIEF) Vattenfall has agreed to sell the Norfolk Offshore Wind Zone to RWE for £963 million, ensuring the continued development of three wind farms off the east coast of England. The Norfolk Zone, with a total capacity of 4.2 … Read the full press release
(IN BRIEF) SGS has signed an agreement to sell its US powertrain testing operations to Columbia River Partners, a private equity firm specializing in industrials, business services, and IT services. The divested operations encompass combustion engine services, powertrain component testing, … Read the full press release
Posted in Automotive, Business, Financial, Industrial, Management, News, Switzerland, Technology
Tagged Columbia River, divestment, Frankie Ng, partnership, SGS, US Powertrain Testing Operations
(IN BRIEF) EQT Private Equity has agreed to sell Schülke, a provider of infection prevention solutions for the healthcare industry, to the ATHOS Consortium. Under EQT’s ownership, Schülke focused on the healthcare market, expanded into new geographies, and became a … Read the full press release
Posted in Business, Financial, Germany, Healthcare, Investment, Sweden
Tagged acquisition, Bitburger Holding, divestment, EQT, EQT Private Equity, infection prevention solutions, Schülke
(IN BRIEF) Electrolux Group has announced its plans to divest Zanussi and other non-core brands, including production facilities in Egypt and water heater production facilities in Egypt and South Africa. The potential divestment value of these assets is estimated to … Read the full press release
Posted in Business, Electronics & Machinery, Financial, Industrial, Investment, Management, News, Sweden
Tagged divestment, Electrolux Group, Jonas Samuelson, Zanussi
(IN BRIEF) ABB has successfully completed the divestment of its Power Conversion division to AcBel Polytech Inc. for an enterprise value of $505 million. This transaction marks the completion of all divisional portfolio divestments announced by ABB in late 2020. … Read the full press release
Posted in Business, Investment, Management, News, Switzerland, Technology
Tagged ABB, AcBel Polytech Inc., divestment
(IN BRIEF) Triton, in partnership with the Triton Smaller Mid-Cap Fund I, has successfully sold Norres Baggerman Group, a leading manufacturer of industrial plastic hoses in Europe, to Nalka DACH Investments SA SICAF-RAIF. The terms of the transaction have not … Read the full press release
(IN BRIEF) Arriva Group has successfully sold its businesses in Denmark and Serbia to Mutares SE & Co. KGaA, an international financial investor. This sale is in line with Arriva Group’s strategy to focus on its core markets in the … Read the full press release
Posted in Business, Denmark, Industrial, Investment, Management, Serbia, United Kingdom
Tagged Arriva Group, bus, Denmark, Deutsche Bahn, divestment, Mutares SE & Co. KGaA, rail, SERBIA, VR Group
(IN BRIEF) AFRY, a Swedish engineering consulting firm, has completed the divestment of its Russian subsidiary to local management. The divestment will not affect AFRY’s EBITA excluding items affecting comparability. The company had earlier communicated about the divestment, and it … Read the full press release
Posted in Business, Financial, Industrial, Management, News, Sweden
Tagged AFRY, divestment, local management, Russian unit
(IN BRIEF) Electrolux has announced that the divestment of its Memphis manufacturing facility in Tennessee, USA, will not be completed as intended. The buyer failed to close the deal, and the company will now seek an alternative buyer. The agreement … Read the full press release
Posted in Business, Electronics & Machinery, Financial, Industrial, Infrastructure & Utilities, Management, News, Sweden
Tagged deal, divestment, Electrolux Group, manufacturing facility, Memphis, Springfield, Tennessee, USA
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