Spanish energy and infrastructure company Acciona SA (MCE:ANA) plans to develop a flagship solar project in Australia partnering with Japan's Mitsubishi Corp. (TYO:8058).
Spanish energy and infrastructure company Acciona SA (MCE:ANA) plans to develop a flagship solar project in Australia partnering with Japan's Mitsubishi Corp. (TYO:8058). The project will be completed in the 2010 to 2013 period. The two companies have formed a strategic alliance to develop and research renewable energy projects, with EUR2 billion in worldwide investments.
Japanese drug maker Astellas Pharma Inc (TYO:4503) launched a US$3.5 billion hostile bid for OSI Pharmaceuticals (NASDAQ:OSIP) to turn the U.S. anti-cancer drug maker into a wholly owned subsidiary. Astellas said it will start on Tuesday an offer to pay US$52 per share in cash for all outstanding common shares of the OSI Pharmaceuticals Inc. stock, representing a 40% premium over the shares' Feb. 26 closing price.
Industrial and Commercial Bank of China (ICBC) (SHA:601398) (HKG:1398), the world's largest bank by market capitalisation, said in a statement on Monday that it increased its overseas assets by 22.9 percent last year to US$49.2 billion. It is about 2.9 per cent of ICBC's total assets, which stood at 11.67 trillion yuan at the end of September. The non-performing loans (NPL) ratio of the bank stood at 0.56 percent in 2009, down from 2.29 percent the previous year.
Taiwan's Fubon Financial Holding Co. (TPE:2881) and Chinese state-owned conglomerate Citic Group said they plan to set up a 500 million yuan leasing joint venture in China after a memorandum of understanding between Taiwan and mainland China on the liberalization of cross-strait investments in the financial industry took effect in January. Citic Group's Citic Asset Management Corp. will own 51 per cent of the Beijing-based joint venture, and Fubon Venture Capital Consulting Co., will own a strategic stake of 25% stake. The remaining 25% will be held by smaller shareholders.
OSI Pharmaceuticals, Inc.
Industrial And Commercial Bank Of China
Fubon Financial Holding Co Ltd.
Astellas Pharma Inc.