Rakuten's announcement on Thursday of the OverDrive deal comes a week after it led a $530 million funding round for U.S. ride-sharing service Lyft, signaling Rakuten's shift in focus toward more rental-based businesses. Rakuten is purchasing Cleveland, Ohio-based OverDrive from Insight Venture Partners, a U.S.-based venture capital and private equity firm that first invested in it in 2010. The acquisition of OverDrive, which currently offers eBook rental services to U.S. libraries and schools, is expected to be completed in April.
Klépierre S.A. (Klépierre) (Euronext Paris and Amsterdam) and Corio N.V. (Corio) (Euronext Amsterdam) today announce that all conditions precedent to the implementation of the merger of Klépierre and Corio ...
Talks to save the Lafarge (Paris: FR0000120537 - news) -Holcim cement mega-merger are "progressing well" and will not fail, a key Lafarge shareholder said on Thursday, joining the French firm's beleaguered boss in insisting it must remain a merger of equals. Three days after news broke that Switzerland-based Holcim wanted to renegotiate terms, the parties were still locked in talks about who should be in top management positions. "What is being discussed now, with the support of both boards and all key shareholders, is to restore a transaction that is to the letter of the word a merger of equals," said Nassef Sawiris, the second-biggest shareholder and board member in a telephone interview. Meanwhile Lafarge Chief Executive Bruno Lafont told an internal meeting of about 60 executives on Thursday that he still wanted the merger to go ahead, said a source familiar with the situation.
Irish cement firm CRH (CRH.I) is assuming the merger of rivals Lafarge (LAFP.PA) and Holcim (HOLN.VX) will still happen, its chief said after CRH shareholders approved an asset purchase that depends on the deal. CRH has agreed to buy a number of mostly European assets from Lafarge and Holcim for 6.5 billion euros ($6.9 billion) so the French and Swiss firms can get antitrust clearance for their plan to create the cement industry's biggest company. Unveiled as a merger of equals in April last year, the plan has looked shaky this year with Holcim shareholders grumbling about the diverging performances of the two firms and the Swiss firm has now called for the deal terms to be revised. "At this moment in time, we're working forward on the basis that the deal will close, the merger will happen," CRH Chief Executive Albert Manifold told reporters, adding that he had spoken to both companies earlier on Thursday.
Nassef Sawiris, the second-biggest shareholder and board member of French cement maker Lafarge (LAFP.PA), said on Thursday that talks to save the planned tie-up with Switzerland's Holcim (HOLN.VX) were "progressing well". The conflict between Lafarge and Holcim broke into the open this week when Holcim contested the deal price and leadership of the new firm, and said it would not go forward if the share exchange ratio and governance were not revised. They are now discussing making Lafont the co-chairman alongside Wolfgang Reitzle, the current chairman of Holcim, sources said on Wednesday. "As a shareholder I am supporting a transaction where Bruno Lafont plays a major role in new entity, and I believe that Holcim is of the same mind," he added.