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Japan's Hitachi put a $28 billion nuclear power project in Britain on hold on Thursday, dealing a blow to the country's plans for the replacement of ageing plants. David Pollard reports.
HONGKONG/FRANKFURT/TOKYO (Reuters) - Global private equity firms Bain Capital, Carlyle Group and KKR & Co are among potential bidders for Japanese conglomerate Hitachi Ltd's chemical unit, three people familiar with the situation told Reuters. Hitachi plans to sell its majority stake in Hitachi Chemical and the process could start as early as this month, Reuters has reported. The three private equity firms declined to comment.
May 5 (Reuters) - Jiangsu Etern Co Ltd: * SAYS ITS UNIT'S CONSORTIUM WITH JAPAN'S HITACHI LTD SIGNS CONTRACT WORTH ABOUT 425.3 MILLION YUAN ($63.16 million) FOR POWER STATION PROJECT IN BANGLADESH Source ...
Japan's Hitachi Ltd plans to sell its majority stake in Hitachi Chemical, two sources with direct knowledge of the matter told Reuters, in what would mark the latest deal by the sprawling conglomerate to streamline its businesses. Hitachi, Japan's largest manufacturer by revenue apart from automakers, has been reorganising its structure in recent years, selling non-core assets while investing in energy and other businesses where it sees opportunities.
Japan's Nikkei share average snapped a four-session losing streak on Monday, although gains were limited as much weaker-than-expected U.S. job data dimmed the outlook for the global economy. The Nikkei ended the day up 0.47 percent at 21,125.09. Demand in the market, however, was limited ahead of this week's various economic data releases and Brexit proceedings," said Chihiro Ohta, equity general manager at SMBC Nikko Securities.
Feb 20 (Reuters) - Jiangsu Etern Co Ltd: * SAYS UNIT'S CONSORTIUM WITH HITACHI LTD WINS BID FROM POWER GRID COMPANY OF BANGLADESH FOR 426.1 MILLION YUAN ($63.46 million) Source text in Chinese: https://bit.ly/2It9D9Y ...
An Italian court rejected appeals filed by Leonardo and Hitachi against a decision by market regulator Consob to force the Japanese conglomerate to raise its offer for Ansaldo STS, two separate rulings said on Monday. In 2016, Consob said Hitachi had to raise its offer to 9.899 euros (8.58 pounds) per share from 9.5 euros when it launched a mandatory public offer to buy out Ansaldo STS minority shareholders. Hitachi had to launch the offer after first buying a 40 percent stake in the rail signalling company from state-controlled defence group Finmeccanica, now Leonardo.
The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy. Headlines - Philip Hammond calls for more liberal immigration regime ...
The Japanese conglomerate finally made a decision to suspend construction of its once-ambitious nuclear power station on the U.K.’s Welsh coast, after months of uncertainty. It isn’t clear whether Hitachi will fully exit the Wylfa project or just leave it offline. Getting rid of it is probably the best way forward, much as Toshiba Corp. found in the case of Westinghouse Electric Co., the bankrupt U.S. nuclear unit that was sold last year. There are no obvious ways to fix Hitachi’s U.K. nuclear business without sinking in more cash, which would mean taking on more debt and risk.
Hitachi Ltd on Thursday became the second Japanese company to pull out of building a new nuclear power plant in the United Kingdom, with the cancellation of the Wylfa project in north Wales and Oldbury plant in Gloucestershire throwing the government's plans to build six new plants into disarray. Facebook Inc said on Thursday it had removed hundreds of pages of "fake" news accounts and content originating from Russia, including some it claimed were linked to Moscow's Sputnik news agency. U.S. clothing chain Gymboree said on Thursday it plans to close its Gymboree and Crazy 8 operations, as it filed for bankruptcy for the second time in two years, putting up to 10,000 positions at risk.
Hitachi's decision to freeze its $28 billion nuclear power project in Britain strengthens the hand of France's EDF and its Chinese partner in talks with the government on how to finance new reactors. Funding new nuclear plants has become critical as Hitachi became the second Japanese firm to say its British nuclear power project had hit the buffers over financing. The two projects would have covered about 13 percent of Britain's power needs.
China’s General Nuclear Power Corporation (CGN) (IPO-CGNP.HK) will bring forward plans to build a nuclear plant in Britain, it said on Thursday, helping plug a gap left by the failure of two Japanese projects. Japan's Hitachi Ltd confirmed on Thursday it had frozen plans for a plant in Wales, while Toshiba Corp scrapped its British NuGen project last year. The British government said it offered a package of financial support to Hitachi after it requested more help, but the firm said the economics still did not add up.
LONDON (Reuters) - Britain will explore its options for funding new nuclear plants as the cost of renewables has fallen so sharply it could not justify much higher subsidies for Hitachi's Horizon nuclear ...
Britain is committed to the nuclear power sector, Prime Minister Theresa May's spokesman said on Thursday, after Japan's Hitachi Ltd froze a 3 trillion yen ($28 billion) nuclear power project in Wales. Hitachi had called on the British government to boost financial support for the project. "Any deal needs to deliver for UK consumers and taxpayer.
Britain is committed to the nuclear power sector, Prime Minister Theresa May's spokesman said on Thursday, after Japan's Hitachi Ltd froze a 3 trillion yen (£21.37 billion) nuclear power project in Wales. Hitachi had called on the British government to boost financial support for the project. "Any deal needs to deliver for UK consumers and taxpayer.
LONDON, Jan 17- Britain is committed to the nuclear power sector, Prime Minister Theresa May's spokesman said on Thursday, after Japan's Hitachi Ltd froze a 3 trillion yen nuclear power project in Wales. ...
Hitachi's UK unit Horizon Nuclear Power said it would suspend development programme after parent firm Hitachi said it would freeze plans for a new nuclear project in Wales. Horizon is developing the Wylfa Newydd nuclear plant in Anglesey in North Wales and has a second site at Oldbury in South Gloucestershire, England. The company said despite discussions with the British and Japanese governments it had not been able to reach agreement to the satisfaction of all parties.