KediKesenFare3
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Lexmark still exists?
My first printer was produced by Lexmark.
My first printer was produced by Lexmark.
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Chinese firm takes over printer giant Lexmark
(Xinhua) 18:21, December 13, 2016
BEIJING, Dec. 13 (Xinhua) -- Chinese tech firm Apex announced it has finished joint takeover of global laser printer giant Lexmark, the largest acquisition in the global printer industry.
Apex Technology Co. Ltd, a leading supplier of compatible printer consumables based in Zhuhai in south China's Guangdong Province, purchased a 100-percent stake in Lexmark for 3.9 billion U.S. dollars, together with PAG Asia Capital and Legend Capital of China.
"Lexmark is a renowned global laser printer manufacturer and has advanced technology in providing customized services for high-end users. Cooperation between Apex and Lexmark can enlarge our printer business and bring huge business opportunities," said Jackson Wang, chairman of Apex, at a press conference in Beijing on Monday.
After the acquisition, Lexmark's manufacturing and purchasing of raw materials will be partially transferred to China to optimize the industry chain and reduce production costs. More Lexmark products will enter the Chinese market.
David Reeder, president and CEO of Lexmark, said the new investors will provide sufficient capital support for the company's development and more benefits and opportunities for clients.
Lexmark will continue to strengthen its leading market status in European and U.S. markets and actively tap emerging markets, including China, according to Reeder.
"The takeover is the outcome of a strategic review. The laser printer industry has many technical thresholds and latercomers tend to have more patent barriers. Apex gets talent and technology through industry and capital integration, which is very important for Chinese firms in global market competition," said Yan Xiaolang, vice chairman of the China Semiconductor Industry Association.
Sinopec: Acquisition Of Gulf Keystone Petroleum Underway
The Chinese are under discussions with the advisors for the acquisition of Kurdish energy company
Published By: Myrna Salomon on December 14, 2016 01:52 pm EST
View attachment 360604
With the recent OPEC meeting raising a positive sentiment in the energy market and both West Texas Intermediate and Brent crude currently trading above $60 per barrel, oil and gas companies are continuously ramping up production levels and gearing up for takeovers. Similar is the case with the largest refiner globally, China Petroleum & Chemical Corp. which is mulling over the acquisition of Gulf Keystone Petroleum Ltd. According to sources close to the matter, Sinopec is in discussions with the advisors for the acquisition of Kurdish energy producer. More so, several bidders may find the takeover attractive.
For instance, DNO ASA, is another oil explorer that offered around $300 million for Keystone in July. However, Gulf Keystone stayed away from having any talks with DNO and instead focused on restructuring.
As for the present deal, nothing has been finalized yet. Sinopec has had a history of procuring properties abroad. The company is considering the buyout of other overseas properties at present as well. It has earlier closed its old and cost intensive facilities in an attempt to navigate through the economic slowdown in energy prices.
Stock price of Gulf Keystone increased by 13% at the London Stock Exchange after the market opened on Tuesday, providing the company with a market value of $416.7 million. Previously, the stock price soared by as high as 16%, the highest jump since October.
Operating in Iraq, which happens to be the key player of oil exporters group OPEC, the Gulf Keystone was taken over by creditors as the company failed to make a bond payment forcing the company for debt restructuring. The company has also suffered with the plunging crude oil environment and has thus struggled to take payments from the Kurdish government amid its war with Islamic militants.
http://www.thecountrycaller.com/77484-sinopec-acquisition-of-gulf-keystone-petroleum-underway/
Surprised that they call it "Kurdish" energy company. It is Iraqi energy company that mainly operates in the Northern part of the country.
Hopefully, on this, they company is also talking to the central government of Iraq. Otherwise, they may suffer like Exxon did before. Also, no need to alienate the Baghdad government.
The way of reporting reflects how a pro-Kurdish media (western MSM in general) view a divided Iraq. Anyway SINOPEC already has huge presence in Iraq, I believe they know how to handle the delicate politics there.
SINOPEC is acquiring this financially troubled (now controlled by its creditors) company, which as Nikkei called it is a UK firm, transaction to be carried out in London, not Baghdad.
I think they are not being pro-Kurdish but more pro-divided Iraq.
I see now; interesting the first report calls it a “Kurdish" company. The best way to report would be to call it a company operating in the Kurdish majority regions of Iraq.
As yo mention, the Nikkei report says it is actually a British company that has some fields in North Iraq under operation.
I also believe SINOPEC would care about regional and national politics. It is always advisable to do energy business in cooperation with the central government. This also adds to China's image of a non-interventionist and pro-sovereignty country.