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October 30, 2015

Volkswagen posts its first quarterly loss in more than 15 years; Vincent Bolloré plans to IPO West African train project; and Samsung compensates workers in hazardous conditions claim

Emissions scandal forces Volkswagen’s first loss in 15 years
Family-controlled carmaker Volkswagen has posted its first quarterly loss in more than 15 years due to €6.7 billion ($7.38 billion) of charges it has set aside to cover costs after it admitted rigging diesel emission tests.
Controlled by the third generation of the Piech family, Volkswagen admitted last month it deliberately tampered with thousands of its cars’ emission testing software to deceive US environmental authorities.

October 9, 2015

Schaeffler finally lists on stock exchange following delays due to VW scandal; Lotte family feud goes to court; Lundin tries to woo investors on merger.

Schaeffler debuts on stock market following delays

Family-owned car parts company Schaeffler saw its shares rise 8% on its market debut on Friday.

The German family business delayed the IPO one week due to the emissions scandal at Volkswagen, which accounts for more than 10% of group sales.

The company had also scaled back the size of the IPO, raising €938 million in the listing where it had initially planned to raise €2.5 billion.

July 11, 2014

Espirito Santo Group fears trigger stock sell off; Mori Trust meets increased tourism with new hotels; Rottapharm Madaus scrap IPO; L’Oréal buys back shares from Nestlé.

Espirito Santo Group fears trigger stock sell off; Mori Trust meets increased tourism with new hotels; Rottapharm Madaus scrap IPO; L’Oréal buys back shares from Nestlé.

Espirito Santo Group fears trigger stock sell off

Share prices at Portugal’s largest listed bank fell more than 17% on Thursday after parent company Espirito Santo International (ESI) missed debt payments “to a few clients”. 

May 9, 2014

The third generation of the Lee family, which controls South Korea’s Samsung, is reportedly restructuring family ownership in the conglomerate’s complicated web of subsidiaries.

The third generation of the Lee family, which controls South Korea’s Samsung, is reportedly restructuring family ownership in the conglomerate’s complicated web of subsidiaries.

The group’s IT solutions business, Samsung SDS, said on Thursday it was planning a listing on the Korea Exchange this year, explaining it will help it secure funds for its global expansion and patents in lucrative business areas such as cloud computing and big data.

May 7, 2014

An Illinois-based family upholstery business has joined forces with a private equity firm in the hope of becoming the US's first publicly-traded company of its type in the US. 

An Illinois-based family upholstery business has joined forces with a private equity firm in the hope of becoming the US's first publicly traded company of its type in the US.

Ken Kovie's family have been in the upholstery business since 1939, when his parents opened their first shop in Chicago – Kovie joined the family business in 1975, and went on to found Ken's Custom Upholstery in 1985.

January 24, 2014

One of the biggest family businesses in the Middle East could launch its first IPO in a matter of months, according to media reports. 

One of the biggest family businesses in the Middle East could launch its first IPO in a matter of months, according to media reports.

Saudi Binladin Group, a second-generation construction company, could list one of its biggest divisions, Construction Products Holding (CPC), as early as June.

January 22, 2014

Family business patriarch Li Ka-shing, who is also Asia's richest man, has raised $3.1 billion (€2.3 billion) dollars through an IPO of a division of his electric company.

Family business patriarch Li Ka-shing, who is also Asia's richest man, has raised $3.1 billion (€2.3 billion) dollars through an IPO of a division of his electric company.

HK Electric Investments – a subsidiary of Power Assets, which is indirectly controlled by Li's flagship company, Hutchison Whampoa – listed 4.43 billion units at HK$5.45 (€0.51) each.

January 13, 2014

Many investors were happy to pay over the odds for shares in Japanese drinks business Suntory, safe in the knowledge the founding Saji family – renowned for their business acumen – were steering the ship. But what if the next generation decide to take a step back from management? CampdenFB reports.

When family-controlled Japanese drinks business Suntory had its $4bn IPO in July, many analysts felt that the shares were overvalued compared to its peers. But what non-Japanese investors failed to understand is that the price includes a family premium. Suntory is iconic in Japan, and so is the Saji family which controls it. Those who bought shares are showing their trust in the Sajis. But could the nay-sayers be right?

January 2, 2014

Italian family business Fiat has welcomed in the New Year by signing an agreement to purchase the remaining stake it does not already own in US carmaker Chrysler.

Italian family business Fiat has welcomed in the New Year by signing an agreement to purchase the remaining stake it does not already own in US carmaker Chrysler.

The $3.65 billion (€2.67 billion) agreement ends a stand off between Fiat, which is owned by family-controlled holding company Exor, and a retiree healthcare trust over the value of the company.

Veba, associated with the United Auto Workers union, argued its 41.5% stake was worth $5 billion, while Fiat said it was worth half that amount.

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