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August 12, 2016

Grain market slump affects Cargill’s operating profit; Chinese richest man may gain support for Wanda delisting; and Hero MotoCorp reappoints Pawan Munjal as CEO

Grain market slump affects Cargill’s operating profit

Family-controlled Cargill, the world's largest agricultural commodities trader, has revealed its weakest operating profit in four years following a slump in grain markets.

The US-based family business earned $1.64 billion in the year ending 31 May, down 15% from the year before.

August 5, 2016

AB InBev clears China hurdle in SABMiller takeover deal; South Korea bans almost all VW cars over emission scandal; and Viacom Q3 results strengthen Redstone case

AB InBev clears China hurdle in SABMiller takeover deal

Family-controlled brewer AB InBev, which produces brands such as Stella Artois, Budweiser and Corona, cleared a major hurdle towards its takeover of SABMiller this week after receiving regulatory approval from China.

July 29, 2016

JAB Holdings completes $1.3 billion acquisition of Krispy Kreme; Volkswagen stock price crashes after Q2 results; and Todd Corporation given nod to sell gold mine stake 

JAB Holdings completes $1.3 billion acquisition of Krispy Kreme

JAB Holding, the investment vehicle of the Reimann family, has completed its $1.3 billion acquisition of US-based doughnut and coffee company Krispy Kreme.

In a two-paragraph statement, the two companies confirmed the completion of the sale this week, and added that Krispy Kreme will become a privately held company.

July 22, 2016

Swatch first-half profit declines to lowest level in nearly a decade; Dassault Aviation profit down, deliveries cancelled; and Maersk signs five-year carbon reduction scheme

Swatch first-half profit declines to lowest level in nearly a decade

Swiss watchmaker Swatch, owned by the Hayek family, reported its lowest first-half profit in seven years amid a challenging time for luxury goods.

According to a company statement, first-half operating profit declined 54% to CHF353 million ($359 million) but said it expects “clear growth” in the second half of the year. Swatch said July 15 that revenue fell about 12%.

July 15, 2016

Michael Dell part of buy-out consortium for family-owned UFC; Cement titan LafargeHolcim sells Indian unit to family conglomerate; Malaysian next gen to take on bigger role in Hong Leong group

Michael Dell part of buy-out consortium for family-owned UFC

The family investment office of Michael Dell, founder of the eponymous computer company, has invested in the $4 billion buy-out of the Ultimate Fighting Championship (UFC).


MSD Capital acquired preferred stock in UFC as part of the purchase of the popular professional mixed martial arts organisation by the US talent agency WME-IMG.


July 8, 2016

Lotte founder’s daughter arrested; Serge Dassault on trial for tax fraud; and Gretchen Carlson files sexual harassment suit against Fox News 

Lotte founder’s daughter arrested

Shin Young-ja, the chairwoman of the Lotte Scholarship Foundation, has been arrested over allegations she received bribes as prosecutors step up an investigation into the country’s fifth-largest business chaebol.

The 74-year-old daughter of Lotte founder Shin Kyuk-ho is accused of accepting bribes from the former chief of cosmetics brand Nature Republic in exchange for store space in Lotte’s duty-free outlets.

July 1, 2016

Lotte second-gen summoned to prosecutors’ office; Henkel buys Sun Products for €3.2 billion; and Volkswagen to pay $14.7 billion settlement

Lotte second-gen summoned to prosecutors’ office

Shin Young-ja, the chairwoman of the Lotte Scholarship Foundation, appeared at the Seoul Central Prosecutors’ Office today over allegations that she received bribes.

The 74-year-old is accused of accepting bribes from the former chief of cosmetics brand Nature Republic in exchange for store space in Lotte’s duty-free outlets.

June 24, 2016

Bertelsmann commits to UK after Brexit; Maersk appoint new CEO, may break up company; and Brexit scuppers Tata Steel's efforts to maintain operations in the UK

Bertelsmann commits to UK after Brexit

German media group Bertelsmann says it will remain committed to all its investments in the UK and acknowledges “with regret” the British electorate’s decision to leave the European Union, according to a company statement.

The Gütersloh-headquartered firm, controlled by the Mohn family, said Britain’s exit from the EU raises political and economic uncertainties for the firm, but added that its fourth-largest market would remain very important.

June 17, 2016

Cargill gets $10 million in tax breaks to stay in Wichita; Merck shares sore following lung cancer study; and Volkswagen families display unity ahead of annual general meeting

Cargill gets $10 million in tax breaks to stay in Wichita

A deal to keep family-controlled Cargill operating in Wichita includes nearly $10 million in tax breaks from government entities over a 10-year period, according to documents obtained by the Associated Press.

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