4:52 am Citigroup to divest consumer banks in Hungary (C) :
Co signed an agreement with Erste Bank Hungary Zrt. and its subsidiary Erste Befektetsi Zrt. (Erste Investment) to sell its consumer banking business in Hungary.
- The sale includes Citi's retail banking, consumer loans, cards businesses and the transfer of consumer banking employees.
- This transaction is subject to regulatory approvals, which are expected by the end of 2015. Transfer of customer accounts is expected to be completed in Q4 2016.
- The financial terms of the transaction are not material to Citi.
4:51 am Volkswagen extends terms to keep Dr. Martin Winterkorn as Chairman through Dec 31, 2018 (VLKAY) :
4:48 am AstraZeneca enters license agreement to develop FluMist in Japan (AZN) : AstraZeneca announced that its global biologics research and development arm, MedImmune, has entered an agreement granting Daiichi Sankyo (DSNKY) an exclusive license to develop and commercialise FluMist Quadrivalent in Japan.
3:52 am NIDEC acquires U.S.-Based KB Electronic and E.M.G. Elettromeccanica (NJ) :
Co announced that it has acquired full ownership of KB Electronics, a privately owned US company; terms were not disclosed
- The Transaction is expected to have no significant impact on the Company's consolidated financial performance for the fiscal year ending March 31, 2016.
- Additionally, co also acquired the business of E.M.G. Elettromeccanica S.r.l., a privately owned Italian company
2:40 am CGG completes Hail-Shuweihat Survey for ADNOC (CGG) :
CGG announced that, with the support of its Seabed Geosolutions joint venture with Fugro, it has successfully completed the acquisition of a 3D seismic survey over the Hail and Shuweihat oil and gas fields in the Emirate of Abu Dhabi, one of the world's most environmentally sensitive areas.
- The survey is part of an integrated project, including data processing and reservoir characterization, awarded to CGG by the Abu Dhabi National Oil Company
- Seismic operations were implemented to the highest QHSE standards to acquire the two-part survey, covering a total area of 1200 sq km and lasting over 18 months.
2:39 am Novartis receives EU approval for new Revolade (NVS) :
Co announced today that the European Commission has approved Revolade for the treatment of adults with severe aplastic anemia who were either refractory to prior immunosuppressive therapy or heavily pretreated and are unsuitable for hematopoietic stem cell transplant.
- The approval is based on the results of a pivotal open-label Phase II study and two supporting Phase II studies conducted by the National Heart, Lung and Blood Institute at the National Institutes of Health.
- The pivotal study demonstrated a hematologic response (40%) in SAA patients treated with Revolade who had an insufficient response to IST.
- The most common adverse reactions in the pivotal single-arm study of 43 patients were nausea, fatigue, cough, transaminase increased, diarrhea, and headache
2:37 am Care Capital Properties acquires 9 Senior Care Centers for total value of ~$210 mln (CCP) :
Co announced that it has completed the acquisition of eight skilled nursing facilities and one assisted living facility in Shreveport, Louisiana and simultaneously entered into a long-term triple-net lease with Texas-based operator Senior Care Centers, to operate the acquired portfolio.
- SCC concurrently acquired the operations, which also included a rehabilitative therapy company, four hospice agencies and an interest in an affiliated pharmacy provider.
- CCP purchased the assets for approximately $190 million and made a $20 million five-year, fully amortizing loan to SCC, resulting in a total transaction value of $210 million.
- The initial cash lease yield on the properties is 8.25%, and the loan bears interest at a rate of LIBOR plus five percent, which escalates 25 basis points annually.
2:37 am Otter Tail Power acquires Impulse Manufacturing for $30.5 mln (OTTR) :
BTD Manufacturing, a wholly owned subsidiary of Otter Tail, announced it has acquired Impulse Manufacturing of Dawsonville, Georgia, for $30.5 million in cash.
- Impulse had revenues of $27 million in 2014. Expected revenues for the remainder of 2015 are $11 million, and the results of operations for the last four months will be negatively impacted by $.01 per common share as a result of business combination accounting principles.
- Earnings from this acquisition are expected to be accretive for 2016.
2:36 am Career Education transfers ownership of Missouri College to Weston Education Group; terms of the agreement were not disclosed (CECO) : Co announced that it has closed on an agreement transferring control of Missouri College, one of its Career College institutions, to Weston Education Group, an education operator providing with four distance education schools as well as Heritage College and Heritage Institute. Terms of the agreement were not disclosed.
2:30 am On The Wires (:WIRES) :
- Pacific Gas and Electric Company (PCG) submitted to state regulators its 2017-2019 General Rate Case, which proposes an average increase of less than 3 percent in typical residential customer energy bills to support upgrades to technology and electric and gas infrastructure.
- Super Micro Computer (SMCI) announced immediate availability of embedded motherboard and system solutions supporting the new 6th Gen Intel Core processor family
- Canada International News