Suez Lyonnaise revamp is unfinished
Article Abstract:
Suez Lyonnaise des Eaux SA has unloaded many industry, bank and real estate holdings as part of a restructuring aimed at making the company a fast-growing international firm specializing in supplying water, gas and waste management services to urban communities. In June 1998, Lyonnaise des Eaux, which was a mix of unfocused television, construction and utility assets, merged with the near-bankrupt banking and industrial concern, Cie. de Suez. The new CEO, Gerard Mestrallet, is optimistic that the company will become stable soon. Among the latest deals completed by Suez Lyonnaise are the buyout of minority interests in its Belgian unit, Societe Generale de Belgique; and the sale of Generale Bank, the biggest bank in Belgium.
Comment:
Unloads ind, bank & real estate holdings in restructuring aimed at making co fast-growing intnl firm focused on certain svcs
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
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Carrefour bids for all of Comptoirs
Article Abstract:
Carrefour SA offered to acquire the 77.2% of Comptoirs Modernes SA it currently does not own for up to 18.8 billion French francs ($3.12 billion). The deal, the latest manifestation of consolidation in the French retail industry, will create the world's fourth-largest publicly-traded retail group with annual sales of 214 billion francs. The acquisition will also represent a move to the supermarket sector for Carrefour, which operates a worldwide chain of hypermarkets. Comptons Modernes operates 792 supermarkets in France under the Comod, Stoc and Marche Plus names.
Comment:
Offers to acquire the 77.2% of Comptoirs Modernes SA it currently does not own for up to 18.8 billion French francs ($3.12 bil)
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
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Seita to acquire U.S. cigar maker for $531 million
Article Abstract:
Only one month after laying off 560 employees in France, Seita S.A. announced it will acquire Consolidated Cigar Holdings Inc. for US$531 million and the Finland cigarette and tobacco operations of R.J. Reynolds for US$39.5 million. Seita claims production costs are too high in France and needs the acquisitions to balance the declining market at home.
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
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