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Samsung Electronics says to acquire U.S. appliances maker Dacor

Thursday August 11 th 2016

SEOUL South Korean tech giant Samsung Electronics Co Ltd said on Thursday it will acquire U.S.-based luxury appliances maker Dacor Inc, seeking to boost high-end product sales. Samsung said in a statement it will keep Dacor’s brand name and leave its operations unchanged following the acquisition. The company did not disclose financial terms. The Korea Economic Daily said Samsung paid $150 million to buy the California-based company. Continue reading

Australia antitrust regulator clears two local bidders for $4 billion port sale

SYDNEY Australia’s competition regulator cleared the two domestic investors bidding for the country’s biggest general cargo terminal, Port of Melbourne, paving the way for a privatization the government hopes will raise A$5.3 billion ($4 billion).Australian Competition and Consumer Commission (ACCC) Chairman Rod Sims said on Thursday that after inquiries with stakeholders he “formed the view that neither acquisition would result in a substantial lessening of competition”. Continue reading

Exclusive: Wal-Mart’s Mexico unit selling apparel chain for about $852 million – source

Wednesday August 10 th 2016

CHICAGO Wal-Mart Stores Inc’s (WMT.N) Mexican unit said on Wednesday it was selling its 119-store Suburbia clothing chain to El Puerto De Liverpool (LIVEPOLC1.MX) for about $852 million, as the world’s biggest retailer streamlines operations in its largest non-U.S. market as measured by stores.Wal-Mart De Mexico y Centroamerica (WALMEX.MX), also known as Walmex, will sell Suburbia along with its properties for 15.7 billion pesos ($852 million) including debt of 1.4 billion pesos. Continue reading

CD&R nears deal to buy wheelchair maker Drive DeVilbiss: sources

Buyout firm Clayton, Dubilier & Rice LLC is in advanced talks to acquire Drive DeVilbiss, one of the largest U.S. wheelchair manufacturers, for about $750 million, including the assumption of debt, according to people familiar with the matter. A deal would represent CD&R’s latest bet on the home care market, as longer life expectancy fuels demand for durable medical equipment such as wheelchairs, power scooters and other mobility and bariatric products. Continue reading

EFG cuts expected purchase price for BSI to $1.08 billion

LONDON Swiss private bank EFG International (EFGN.S) now expects to pay 1.05 billion Swiss francs ($1.08 billion) to buy rival BSI from Grupo BTG Pactual SA (BBTG11.SA), almost 300 million francs less than previously announced. EFG hopes the BSI tie-up, originally estimated to cost 1.328 billion francs, will create Switzerland’s fifth biggest wealth manager behind the likes of UBS (UBSG.S) and Credit Suisse (CSGN.S) Continue reading