Automotive

Asian Activities Report for January 11, 2012: Weichai Power (HKG:2338) Acquires 75% Controlling Interest in Italian Luxury Yacht Maker Ferretti Group

2012/01/11  13:00 - Asian Activities Report for January 11, 2012 includes: Weichai Power (HKG:2338) (SHE:000338) has agreed to invest 374 million euros to acquire a controlling 75% interest in the world's largest luxury yacht manufacturer, Ferretti Group of Italy; Prada S.p.A. (HKG:1913) says that it will invest 40 million euros to sponsor the Luna Rossa yacht to participate in the XXXIV edition of the America's Cup sailing competition; Inpex Corporation (TYO:1605) has signed agreements to sell liquefied natural gas from its Ichthys LNG joint venture project; Panasonic Corporation (TYO:6752) (NYSE:PC) has successfully developed a 20-inch 4K2K IPS Alpha LCD panel; Nidec Corporation (TYO:6594) (NYSE:NJ) has established a new subsidiary named Nidec Management Shanghai Corporation in Shanghai, China.