Yokohama Rubber has agreed to acquire Goodyear Tire & Rubber’s off-the-road tire business for $905 million as part of the Japanese manufacturer’s global expansion plan. The OTR business will be a future growth driver, Yokohama Rubber said in a statement about the acquisition Monday. In a separate statement, Goodyear said it will retain the part … Read more
Private equity-related dealmaking in Japan jumped last year, as low interest rates and an ample supply of targets helped make the country the only market in the Asia-Pacific region to see growth, according to Bain. Deal value in Japan last year nearly tripled compared with the annual average from 2018 to 2022, rising 183%, a … Read more
ZURICH: Swiss banking giant UBS will look for merger and acquisitions opportunities in the United States in the next few years, its chairman told the NZZ newspaper on Sunday. UBS, which took over former rival Credit Suisse last June, wants to expand its U.S. wealth-management business through potential M&A in the next three or four … Read more
Mumbai: After a gap of four years, rights issues are poised to reclaim prominence in the world of corporate financing as Indian companies expand capacities and strengthen capital buffers for future acquisitions. About four dozen companies, including Indian Oil, Grasim, Tata Consumer, South Indian Bank, UPL, among others, have either declared or are contemplating rights … Read more
Nippon Steel has agreed to buy United States Steel for $14.1 billion in cash, ending months of uncertainty about the future of the historic American metal producer. Nippon will pay $55 per share in cash, the companies said in a statement. The deal is a 142% premium to U.S. Steel’s share price on the last … Read more
Mitsubishi UFJ Trust and Banking said Monday that it will buy Australian data manager Link Administration Holdings in a deal valued at about 1.11 billion Australian dollars (¥106 billion, $739.9 million), as Japanese lenders build on a slew of commitments to acquire higher returning assets abroad. The unit of Japan’s largest bank, Mitsubishi UFJ Financial … Read more
A unit of Tokyo Gas has decided to buy Texas-based natural gas producer Rockcliff Energy from private equity firm Quantum Energy Partners for $2.7 billion to expand its overseas business, it said on Saturday. The deal comes as part of the Japanese company’s efforts to expand its North American shale gas operations to meet growing … Read more
Toshiba announced on Thursday a new management structure after its planned delisting next week, with the majority of board members coming from the consortium led by Japan Industrial Partners that acquired it. Of the seven board members, four are from JIP, including President Hidemi Moue and Vice Chairman Koji Ikeya, a former vice president of … Read more
Telecom firm SoftBank on Tuesday said it has agreed to buy a majority stake in Irish software developer Cubic Telecom for around €473 million (¥75.3 billion), to target surging demand for cars connected to the internet. SoftBank, a unit of technology investor SoftBank Group, will acquire 51% of Cubic Telecom, which provides a platform for … Read more