Billionaire Wang Jianlin to sell hotels and tourism properties; Danone sheds US dairy business to competitor; and Hobby Lobby fined for smuggling Iraqi artefacts
Billionaire Wang Jianlin to sell hotels, tourism properties
China’s second wealthiest man will sell some of his multi-billion dollar property portfolio to a competitor, as a means of paying down debt.
Wanda Group, led by billionaire Wang Jianlin, will sell 76 hotels and a 91% share in 13 tourism properties to Sunac Holdings for ¥63.17 billion ($9.29 billion).
Italian dairy and food corporation Parmalat has expanded its presence in Australasia with the acquisition of a Western Australian family dairy products and fruit juice business.
Italian dairy and food corporation Parmalat has expanded its presence in Australasia with the acquisition of a Western Australian family dairy products and fruit juice business.
Parmalat, owned by France's Besnier family via their dairy giant Lactalis, bought 28-year-old Harvey Fresh in a €79 million deal this week.
Family businesses continue to look to divestments, mergers or acquisitions in a bid to maximise opportunities, with French firms Auchan and Lactalis buying new assets while Italy's Agnelli family is merging two if its companies.
Family businesses continue to look to divestments, mergers or acquisitions in a bid to maximise opportunities, with French firms Auchan and Lactalis buying new assets while Italy's Agnelli family is merging two if its companies.
It’s a busy time for sales and acquisitions in the family business world, with companies in France, Vietnam and the US buying controlling stakes, while the Lacoste family has sold off its shares in the eponymous clothing brand.
It’s a busy time for sales and acquisitions in the family business world, with companies in France, Vietnam and the US buying controlling stakes, while the Lacoste family has sold off its shares in the eponymous clothing brand.
On 7 November, family member and chairwoman Sophie Lacoste Dournel said she and family members had decided to sell their remaining 28% shareholding to Maus Freres “with great sadness”.
Family-owned Lactalis Group has reached an agreement to acquire the dairy business of Spanish rival Ebro Puleva for €630 million.
Family-owned Lactalis Group has reached an agreement to acquire the dairy business of Spanish rival Ebro Puleva for €630 million.
The France-based group, best known for the Président brand it established in 1968, will now await the audited financial statements from Ebro Puleva before drawing up final contracts of sale. The process is expected to take four weeks.
