American Express Global Business Travel Growth Strategy Builds Momentum with New, Long-Term Investors

December 17, 2019 | American Express

American Express Global Business Travel (GBT), the world’s leading business partner for managed travel, today announces the signing of an agreement for an equity recapitalization of its joint venture ownership structure to maintain GBT’s focus on its long-term growth strategy.

Since the joint venture was formed in 2014, it has established its position as the world’s largest travel management company. GBT has more than 18,000 employees across a network of more than 140 countries and manages more than $35 billion of corporate travel every year.

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LyondellBasell, Sinopec forming PO/SM joint venture in China

January 2, 2020 | Plastic News

LyondellBasell and China Petroleum & Chemical Corp. (Sinopec) have signed a memorandum of understanding to form a 50/50 joint venture in China to significantly expand their presence in the local plastics industry.

Under the non-binding agreement, the JV will construct a new propylene oxide (PO) and styrene monomer (SM) unit in Zhenhai, Ningbo, China, said Rotterdam and Houston-based LyondellBasell on Dec. 23.

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Woodside Gets Green Light for $6 Billion Senegal Oil Project

January 9, 2020 | World Energy

Australian oil and gas producer Woodside has won approval from the Senegalese government to develop the nation's first oil project, clearing the way for final investment decisions to proceed.

The first phase of the $6 billion Sangomar offshore oil field project would develop 230 million barrels, with first oil targeted for early 2023 at a production capacity of 100,000 barrels a day, Woodside said.

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Luxoft and LG Electronics to Form Joint Venture to Enable Digital, Consumer-grade Experiences in Automotive

January 10, 2020 | Business Wire

LAS VEGAS--(BUSINESS WIRE)--Luxoft, a DXC Technology Company (NYSE:DXC), and LG Electronics (LG) today announced that they will form an automotive joint venture to advance the deployment of production-ready digital cockpit, in-vehicle infotainment, rear-seat entertainment (RSE) and ride-hailing systems based on the webOS Auto platform.

The JV will bring together one of the industry's most innovative automotive software engineering providers with one of the world's leading innovators in technology and home entertainment.

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Venezuela Uses Joint Venture Oil Partners to Evade US Sanctions

January 13, 2020 | Aljazeera

Venezuela, its oil exports decimated by United States sanctions, is testing a new method of getting its crude to market: allocating cargoes to joint-venture partners including Chevron Corp, which in turn market the oil to customers in Asia and Africa.

This would not violate sanctions as long as sale proceeds are used for paying off a venture's debts, according to three sources from joint ventures. They said this approach could help Venezuela overcome obstacles to producing and exporting oil.

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Universal & Warner Bros. Form Home Entertainment Joint Venture

January 20, 2020 | Deadline

Universal Pictures and Warner Bros. are entering into a North America ten-year joint venture with regard to their home entertainment arms. Separate from that deal, both studios are committing to license each other’s disc products in certain offshore markets.

The new domestic j.v., which is subject to regulatory approval, will distribute Blu-ray, DVD and 4K UHD for new releases, library titles and television content in U.S. and Canada and combine sales, retail marketing and distribution ops for both majors. Leadership from Universal and Warner Bros. will be involved in this new partnership and be presided over by industry veteran Eddie Cunningham.

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EDPR Reached an Agreement With ENGIE to Create a 50:50 Joint-Venture for Offshore Wind

January 23, 2020 | EDP Renewals

EDP Renewables (Euronext: EDPR), a global leader in the renewable energy sector and one of the world’s largest wind energy producers, announces the signing of an agreement with ENGIE to create a co-controlled 50/50 joint-venture (JV) in fixed and floating offshore wind.

The agreement signed today follows the announcement, on May 21st 2019, of a strategic Memorandum of Understanding (MoU) to form a new entity as exclusive vehicle of investment of EDPR and ENGIE for offshore wind opportunities worldwide, bringing together the industrial expertise and development capacity of both companies.

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Exclusive: Trafigura to Buy Angolan General's Stake in Puma Energy - Sources

January 23, 2020 | Reuters

LONDON (Reuters) - Global commodities trader Trafigura is in advanced talks to buy more than 10% of an Angolan general’s stake in its fuel retail arm Puma Energy by the end of the year, sources familiar with the matter said.

Retired general Leopoldino Fragoso do Nascimento, known as General Dino, holds a 15% stake in Puma via his company Cochan Holdings. Trafigura holds 49% and Angola’s state firm Sonangol 28%.

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Verily Plans Digital Eye Care Joint Venture with Japan's Santen Pharma

February 4, 2020 | FierceBiotech

Verily’s ophthalmology work is set to see new life through a joint venture with Japanese vision care company Santen Pharmaceutical.

One of the earliest projects for Google’s life science-focused sister company included a smart contact lens with an integrated circuit that could measure the wearer’s glucose levels. First launched in early 2014 in collaboration with Alcon, that program was mothballed over four years later, though work continued on responsive contacts and smart intraocular lenses for cataracts.

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