Viag aims to sell its logistics division

Article Abstract:

Viag AG of Germany will divest its logistics unit, Kloeckner & Co. AG, within a period of three years. The diversified company's move, which will include the sale of of its 30%-stake in Kuehne & Nagel International AG back to the Kuehne family, will reduce its annual revenues by about 15 billion marks. Viag, whose Bayernwerk AG energy unit will now account for about 75% of the company's yearly profits, said it intends to recoup the reduction in the firm's revenues through the purchase of new businesses.

Comment:

Will divest its logistics unit, Kloeckner & Co AG, within a period of 3 years

Diversified Companies, Asset sales & divestitures, Viag AG, Article, Klockner und Company AG

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German economy on growth track, Bundesbank says

Article Abstract:

Angela Merkel's economic turnaround plan is growing the economy, with an outlook for longterm recovery, the Deutsche Bundesbank has reported. The labor market has greatly improved and consumer confidence is up. The world economy is growing expansively, the International Monetary Fund projects a five percent growth rate for 2007.

Forecasts, trends, outlooks, Economic aspects, Forecasts and trends, Market trend/market analysis, Global economy, Economic recovery, 2007 AD

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ECB adds funds but fails to meet sector demand

Article Abstract:

Banks and money market traders continue to be wary of lending to other banks despite the injection of fresh funds into the euro-zone by the European Central Bank. The ECB disbursed an additional $54 bil of three-month funds; however, banks are seeking longer-term funds.

Commercial Banks, Management dynamics, Banking industry, Management, Company business management, European Union. European Central Bank, Euromarkets, Money market, Money markets

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