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BerichtGeplaatst: 22-06-2018 04:02:50    Onderwerp: I MINH CITY Reageren met citaat
Shanghai Fosun Pharmaceutical Group <600196.SS> is trimming the size of the stake it will buy in India's Gland Pharma to 74 percent for $1.1 billion (809 million pounds) Nike PG 2 Espaņa , in a bid to salvage the stalled deal that would be the biggest takeover by a Chinese firm in India.


Fosun Pharma had struck a deal in July last year to buy an 86 percent stake valued at about $1.26 billion in the Indian generic injectable drugmaker, but the deal had raised concerns among some in the Indian government, a source had told Reuters previously.


India allows foreign investment of up to 100 percent in its pharmaceutical sector but above 74 percent requires government approval.


Two sources with knowledge of the matter told Reuters that the Chinese drugmaker had agreed to lower the stake it planned to acquire in Gland to 74 percent, mainly because it sought to get the deal completed more smoothly and faster. Gland is backed by private equity firm KKR & Co LP .


Fosun said in a statement on Sunday the deal no longer required a nod from India's Cabinet Committee on Economic Affairs Nike Air Humara Espaņa , chaired by Prime Minister Narendra Modi. It said it had already received approval from Chinese regulators and applied for antitrust approval in the United States and India.


The Chinese drugmaker added that Gland Pharma's founding family wanted to retain a bigger holding in the Indian company because of its good performance.


Gland managing director Ravi Penmetsa told Reuters some approvals the original deal had received were at risk of expiring.


"Now with this new agreement, we won't have to reapply for those," he said, adding that he expects the deal to be completed in two weeks.




RIGA Nike Air Foamposite One Espaņa , Nov. 28 (Xinhua) -- Latvia's gross domestic product (GDP) in the first nine months of this year grew 2.5 percent compared to the same period last year, the Latvian National Statistics Office reported Friday.


Retail trade grew by 3.4 percent, including a 2.6 percent rise in retail sales of automotive fuel. There was a 4.3 percent increase in food sales and a 2.9 percent increase in sales of non-food products.


The increase in the transport sector was driven by the turnover growth in road transport. There was a 4 percent growth in freight transportation and 6 percent growth in passenger transportation.


Export of goods increased by 3.2 percent but export of services reduced by 6.4 percent. Import of goods dropped by 0.5 percent while import of services by 4 percent.


BEIJING, Nov. 28 (Xinhua) -- China's stock market closed out its best week in four years on Friday with a record turnovers.


Rate-sensitive shares including property firms Nike Air More Money Espaņa , insurers and brokers continued an upward trend following last Friday's interest rate cut. News on the introduction of the long-awaited deposit insurance scheme pushed up bank shares Friday.


The benchmark Shanghai Composite Index soared 1.99 percent Friday to finish at 2,682.84 points. It continued a 6-day winning streak and closed 7.9 percent higher for the week, the best since mid-October 2010.


The smaller Shenzhen Component Index jumped 1.6 percent to finish at 9,002.23 points. It ended the week with an overall 8 percent gain.


Total turnover on the two bourses expanded to a new high of 710 billion yuan (116 billion U.S. dollars) on Friday from the previous day's trading of 619 billion yuan Nike Zoom VaporFly Espaņa , thanks to positive market sentiment, new fund inflow into the market, and a large amount of funds returning to the market after unsuccessful subscriptions for new share offers.


China's stock market capitalization overtook Japan as the world's second largest after the United States, data from the two bourses showed after Thursday's close.


Analysts believed that the recent rally was mainly driven by the interest rate cut Nike Hyperadapt 2.0 Espaņa , which boost market liquidity.


Moreover, many institutions expected a cut in the reserve requirement ratio for some banks soon, which is expected to unleash more funds into the equity market.


Lin Caiyi, chief economist of the Guotai Jun'an Securities Nike Hyperadapt 1.0 Espaņa , said the Chinese economy now has the fundamentals to support a bull market.


Guotai Jun'an figures showed that 19 out of the 27 sectors that it tracked have seen profit improving, indicating marked progress in eliminating excessive production capacity.


Although growth of China's gross domestic product and industrial added-value continued to slow, the quality of the economy is improving, Lin said.


But analysts warned of risks from new share issuance as hundreds of companies are lining up to be listed. Reform and oversight are important in the new share offering process Nike Hyperadapt Blancas Espaņa , they said.


Bank, aviation and petrol-chemical shares were strong on Friday.


Well-informed sources have told Xinhua that China is set to introduce its long-awaited deposit insurance scheme as early as at the beginning of 2015. A deposit insurance scheme is considered a precondition for China to free up deposit rates -- the last and most important step of interest rate liberalization in China.


Bank shares rose across the board. Five banks including China CITIC Bank and Bank of Communications rose by the daily trading limit of 10 percent.


Aviation shares performed well due to a slump in international oil prices. China Eastern Airlines and China Southern Airlines rose by the daily limit of ten percent.


Lower international oil prices are expected to reduce production cost of petrol-chemical companies. China Petroleum and Chemical Corporation (Sinopec), the country's largest oil refiner, jumped 2.08 percent to 5.39 yuan per share.


The ChiNext Index Nike Hyperadapt Negras Espaņa , a NASDAQ-style board of growth enterprises, closed 0.48 percent higher at 1,570.85 points.

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