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Japan,
South Korea want new Silk Road extended
Mumbai: Experts from the Republic of Korea (ROK) and
Japan want the new Silk Road, linking China with Europe,
to be extended further eastward to the Far Eastern countries.
Kwaak
Yong Hoon, chairman of the Korean KWAAK HwangKyung Group,
said he hoped the road could be extended to his country.
He said Park Geun-hye, one of the candidates for ROK's
presidential election this year, had promised to build
a train-ferry link to connect ROK with the Chinese ports
of Yantai, Qingdao and Rizhao.
The
new 10,900-km Eurasian continental bridge, also called
the new Silk Road, is similar to the 2,100-year-old old
Silk Route and will link China's ports of Lianyungang
and Rizhao with Amsterdam in Holland and Antwerp in Belgium
.
Mitsuo
Honda, a professor of economics at the Japan-based Nihon
University, says the huge industrial belt along the road
could extend to Japan and the ROK when it came into being.
Both
Japan and the ROK could then benefit from the economic
integration of Asia and Europe, he added.
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Coke
considering acquiring Cadbury's Snapple
Mumbai: The Coca-Cola Co. fresh from its $4.1-billion
acquisition of Glaceau, maker of Vitaminwater, is weighing
plans to acquire Snapple iced tea brand from Cadbury Schweppes
PLC. Alternatively, Coke may also opt to launch its own
tea brand.
Reports,
meanwhile, said Atlanta-based Coca-Cola has approached
some private equity funds that have been involved in bidding
for Cadbury's US drinks business, which includes the Snapple
brand.
UK-based Cadbury Schweppes had said in March that it planned
to split its confectionery and soft drinks businesses,
apparently under pressure from investors. led by US billionaire
Nelson Peltz.
Coca-Cola,
the world's largest beverage maker, has been working to
expand its non-carbonated beverage portfolio, as more
customers migrate to buying juice, tea and bottled water.
Cadbury Schweppes acquired the Snapple Beverage Group
from Triarc Companies, Inc in October last year for an
enterprise value of $1.45 billion (£986 million).
US-based
Snapple owns beverage brands, that include Snapple, Mistic,
Stewart's and Royal Crown Cola. Snapple is the leading
brand in the profitable and high growth premium ready-to-drink
tea and juice sector of the 'new age' beverage market.
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Hexion
outbids Basell for Huntsman with $10.8 billion offer
Mumbai: Hexion Specialty Chemicals Inc. has offered
to acquire chemicals maker Huntsman Corporation for $10.8
billion, trumping the $9.6 billion offer made by Basell
Holding BV last week.
The
cash offer values Huntsman at $27.25 per share cash, compared
with the $25.25 per share offered June 26 by the Netherlands-based
Basell, Huntsman and Hexion said in separate statements.
Hexion will pay an additional eight per cent if the deal
is not closed within nine months of a definitive agreement.
Huntsman said that though its board concluded that the
Hexion proposal is "superior", it was not certain
an agreement would be reached and its transaction committee
was still reviewing the offer,.
Hexion
has proposed a $22-million break-up fee payable to itself
if the target pulls out and a $325-million reverse break-up
fee payable to Huntsman if the deal fails because regulatory
clearance or financing cannot be obtained.
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Societe
Generale seeks controlling stake in Russia's Rosbank
Mumbai: French financial group Societe Generale, which
has acquired a 20-per cent stake in OAO Rosbank, has filed
a request with Russia's antitrust authorities to exercise
call option worth about $1.7 billion to take control of
the Russian banking group.
The option gives Societe Generale, France's No.2 bank,
the right to buy a 30-per cent stake in Rosbank, which
would boost its holding in the Russian lender to 50 per
cent plus one share.
Moscow-based
Rosbank is one of the largest privately owned banks in
Russia, operating about 650 outlets, including 67 branches,
in the majority of the country's regions.
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