But for investors in ALIBABA Group Holding Ltd's potentially record initial public offering, Simon Xie, a co-founder and vice president, represents one of the e-commerce company's most important figures: he's the only individual besides Executive Chairman Jack Ma who owns the domestic Chinese companies and holds the operating licenses that underpin ALIBABA'S corporate structure. Alongside Ma, who holds the lion's share of those domestic firms, Xie wields full legal sway over the onshore entities and the critical contracts that link them with the New York-listed vehicle.
Updated 5 Years ago

Brazil proposed a bill that includes 1.54bn reais (US$662mn) in investments for airport infrastructure in 2015 under the PAC growth acceleration plan, according to federal government documents. The investment would come through national airport authority Infraero. It would include 473mn reais to update Brazil's airport infrastructure network, and another 988mn reais to improve and expand existing projects at 17 international airports.
Updated 5 Years ago

Italian power giant Enel has made an 8.3bn-euro (US$10.7bn) offer to acquire a 60.6% stake in Chilean power holding company Enersis from Spain's Endesa. Under the proposal, Enel would get Endesa's directly owned 20.3% share in Enersis and 100% of Endesa Latin America – which controls 40.3% of Enersis
Updated 5 Years ago

Fresnillo will unlock additional value from its Mexico gold mines and projects following the acquisition of the remaining interest in the Penmont JV, CEO Octavio Alvídrez said. The Mexico City-based miner announced plans to acquire US-based Newmont Mining's 44% stake in Penmont in a US$450mn deal, which requires approval by Fresnillo's shareholders. The JV includes the Herradura, Noche Buena and suspended Soledad-Dipolos gold mines in Sonora state, which are operated by 56%-owner Fresnillo, along with the Mega Centauro and Centauro Deep advanced exploration projects and early stage targets.
Updated 5 Years ago

Apple Inc.’s new iPhones will take as many as four weeks to ship, a sign that early demand for the smartphones is outstripping supply. The iPhone 6 Plus, which has a larger display, will take three to four weeks for shoppers who pre-ordered online yesterday, according to Apple’s website, as people rushed to buy the handset hours after the company began taking pre-orders. Certain iPhone 6 models, which have a slightly smaller screen, will take seven to 10 business days to arrive, though some versions are still available for delivery on Sept. 19 when the devices are set to go on sale in stores. Pre-orders through some individual carriers’ websites indicate shipments could take even longer.
Updated 5 Years ago

At least 14 expensive biotechnology medicines that have never before faced generic rivals in the U.S. are being targeted by drugmakers who want to sell imitations at cheaper prices, according to regulators. For years, patients have been able to buy less expensive copies of existing chemical drugs -- ranging from Lipitor for cholesterol to the antidepressant Prozac -- once their patents ended. That saved the nation $239 billion last year alone, according to the Generic Pharmaceutical Association.
Updated 5 Years ago

Micro Focus International Plc agreed to buy business-software provider The Attachmate Group Inc. in a transaction valued at $2.35 billion before costs. Micro Focus will pay about 729.6 million pounds ($1.19 billion) in shares to Attachmate’s parent company, Wizard Parent LLC, and Attachmate’s net debt at July 31 was $1.17 billion, Micro Focus said in a statement.
Updated 5 Years ago

Danaher Corp. (DHR), a U.S. medical-device maker, agreed to acquire Nobel Biocare Holding AG (NOBN) for $2.2 billion after the Swiss maker of dental implants searched for a buyer amid a wave of consolidation in the health industry. Danaher will pay 17.10 Swiss francs ($18.30) a share in cash, becoming the world’s largest maker of such implants, the Washington D.C.-based company said in a statement today. While 5.5 percent less than the closing price on Sept. 12, Danaher said the offer is about 23 percent higher than Nobel Biocare’s closing price on July 28, the day before speculation that the Glattbrugg-based company would be sold. The stock fell as much as 6.1 percent.
Updated 5 Years ago

TDC A/S (TDC), Denmark’s largest telephone company, agreed to acquire cable-TV provider Get AS for 13.8 billion kroner ($2.2 billion) to gain half a million customers in Norway. TDC plans to finance the transaction by selling debt, the Copenhagen-based carrier said in a statement today. TDC will cut its dividend PAYOUT to maintain its investment grade rating, it said. Gunnar Evensen will continue to lead Get after the deal, which is expected to be completed in the fourth quarter. TDC shares dropped as much as 4.8 percent in Copenhagen.
Updated 5 Years ago

The card, which is the size of a postage stamp, will go on sale for $800 (£490). The launch comes a decade after the firm released a 512-megabyte (MB) SD card with one-thousandth of the space. Experts believe SD cards could eventually hold up to 2 terabytes (TB) of data, about 2,000GB.
Updated 5 Years ago