The $159 million deal sees the Alibaba Group Holding Ltd upping its 49% stake to 51 and thus gaining direct control over its board. On Monday, Alibaba Group Holding Ltd stated, it will be increasing its stake in Hong Kong-listed Alibaba Pictures to 51%, up from its current 49%, and thus essentially take control of…
Activist hedge fund Third Point, led by investor Daniel Loeb, has been pressurizing Nestle to sell its stake in L’Oreal. On Monday, in a report published by the Financial Times which triggered fresh rounds of speculation, Paul Bulcke, Nestle’s Chairman, stated the company’s stake in French cosmetics firm L’Oreal was “something active on the board’s…
Toyota will gain full control over the factory in 2021 which will continue to produce current generation compact cars for both companies. On Friday, both Toyota and the PSA Group stated, the former has agreed to to purchase the latter’s stake in a jointly-managed Czech Republic factory which specializes in the manufacture of small cars.…
ASAP specializes in developing and testing software and electronic architecture for human to machine interfaces, software for autonomous driving, and car-to-x communication. As part of its strategic push into the future of mobility, car parts maker ZF Friedrichshafen has acquired a 35% stake in ASAP – a Germany-based company which specializes in developing software and…
In just 6 years, Grab has managed to attract $6 billion in funding. According to sources familiar with the matter at hand, SoftBank Group Corp is nearing a deal to invest nearly $500 million in Grab. The potential deal is part of a nearly $1 billion funding that Grab aims to tap in its latest…
Following an investigation Singapore’s antitrust watchdog concluded that Grab’s purchase of Uber’s Southeast Asian business has harmed consumers in Singapore. It has suggested remedial measures. Following Uber Technologies Inc’s sale of its Southeast Asian business to its regional rival Grab in March 2018, Singapore’s anti-trust watchdog has levied a combined fine of $9.5 million on…
Starboard, which has nominated 5 members to Symantec’s board, intends to boost Symantec’s margins. On Thursday, as per a report from The Wall Street Journal, Starboard Value LP, an activist investor, has taken a 5.8% stake in Symantec Corp and is looking to take at least 5 seats in its Board of Directors. The WSJ…
Schaeffler is acquiring the the drive-by-wire technology since it thinks it will play an key role in the coming self-driving range of vehicles. On Monday, Schaeffler Technologies AG, a German automotive supplier disclosed it was in the process of acquiring Space Drive, a drive-by-wire technology provider, from Paravan GmbH since it would play a key…
KKR’s investment will allow AppLovin to grow as it places systemic structures that will enable to become a public limited company. Private equity firm KKR & Co disclosed it will acquire a minority stake in AppLovin Corp for $400 million. The development comes in the wake of Washing forcing the U.S. mobile marketing firm to…
Although these negotiations are only exploratory in nature, according to sources, they are a pointer to Uber’s intention of expanding its market to the Middle-East. As per a Bloomberg report which cites 3 sources familiar with the matter at hand, Uber Technologies is in preliminary talks with its Middle Eastern ride-hailing services rival, Careem to…
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