Biogen to spend $700M to build its stake to 49.9% in biosims joint venture with Samsung

Jun 29, 2018 | FeircePharma

After Biogen reported first-quarter results back in April, CFO Jeff Cappello said the company would get further involved in an "attractive value creation" opportunity: its biosimiliars joint venture with Samsung BioLogics. Now, the drugmaker is disclosing just how involved it will get.

Biogen says it'll pay Samsung BioLogics about $700 million to build its stake in the joint venture to 49.9%. The exact value will depend on timing and exchange rates. Biogen already owns about 5.4% of the biosim outfit, Samsung Bioepis. The deal is expected to close in the second half of this year.

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Osram Continental Joint Venture Commences Operations

July 3, 2018 | Business Wire

The Osram Continental GmbH joint venture has successfully completed negotiations and the issuance of merger control approvals. The new company is actively doing business with a focus on intelligent lighting solutions in the automotive market, effective July 2, 2018.

Dirk Linzmeier, CEO of Osram Continental, has high expectations for the start of the joint venture. “Over the past few months, we have laid down a number of milestones, allowing us to create a new company that will revolutionize the future of automotive lighting. Building on these fundamentals, Osram Continental will provide a significant boost to the market.”

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Boeing to buy control of Embraer's $4.75 billion commercial jet unit

July 5, 2018 | CNBC

Boeing will buy a controlling stake in the commercial aircraft arm of Brazilian planemaker Embraer under a new $4.75-billion joint venture, the companies said on Thursday, cementing a global passenger jet duopoly.

The new company, encompassing Embraer's commercial aircraft and services businesses, should make Boeing the market leader for smaller passenger jets, creating stiffer competition for the CSeries aircraft program designed by Canada's Bombardier and backed by European rival Airbus.

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Alliance's New Future

Fuji Xerox chief sees no breakup of Fujifilm-Xerox JV

July 10, 2018 | Reuters

The head of Fuji Xerox Co Ltd, the joint venture between Fujifilm Holdings Corp (4901.T) and Xerox Corp (XRX.N), on Tuesday said an escalating dispute between the partners will not lead to the venture’s dissolution.

“I’m confident a breakup will not happen because that wouldn’t make sense (for Xerox) in terms of the energy, money and time it would take to do so,” Fuji Xerox President Kouichi Tamai told Reuters in an interview.

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BMW set to raise stake in key China joint venture above 50%, report says

July 12, 2018 | Automotive News

BMW AG stands to become the first foreign car manufacturer to own a majority stake in a Chinese joint venture, showing Beijing is following through on a pledge to increasingly open up the economy to global corporations.

BMW plans to unveil the new ownership structure in its joint venture with Brilliance China Automotive Holdings soon, according to a person familiar with the plan, who asked not to be identified because the accord remains confidential. BMW now holds 50 percent of the venture.

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Motors giant Nidec enters into $260 million joint venture with automaker PSA

July 20, 2018 | Robotics and Automation

Nidec, one of the world’s largest suppliers of motors and other industrial components, has entered into a joint venture with global automaker PSA Group.

The “Nidec-PSA emotors” joint venture has been created by Groupe PSA and Nidec to initiate the design of “future electric motors”.

Shigenobu Nagamori, CEO of Nidec, and Carlos Tavares, CEO of Groupe PSA, endorsed the establishment of Nidec-PSA emotors, saying the new business will be “dedicated to the design, development, manufacture and sale of electric traction motors”.

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Rosneft launches $1.4bn lawsuit against Exxon-led consortium

July 24, 2018 | Financial Times

Russia’s Rosneft has filed a $1.4bn lawsuit against a consortium led by ExxonMobil, in a threat to the US producer’s biggest investment in Russia and the country’s last remaining major foreign-run oil project.

The lawsuit is likely to stir memories of similar battles for control of Russian oil and gas assets by the state-run giant against private companies, and comes five months after Exxon pulled out of a joint venture deal with Rosneft worth as much as $500bn because of US sanctions against the Kremlin-controlled company.

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Algeria's ‘Sonatrach’ Holds Talks with Oil Firms to Start Joint Venture

July 25, 2018 | Asharq Al-Awsat

Sonatrach is in talks with oil majors and trading firms to start a trading joint venture after the Algerian state energy company reached a deal this year to buy its first overseas refinery, its chief executive said.

A decision on forming the venture had been expected at the end of July but could be delayed by a month, Reuters quoted two sources as saying.

“The foreign firm will have small shares in the trade joint venture,” Sonatrach CEO Abdelmoumen Ould Kaddour told Reuters in Algiers.

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Partnerships Can Light The Path To Effective Oil And Gas Digitisation

| Forbes

At the recent LiveWorx event in Boston, PTC President and CEO Jim Heppelmann laid out the solutions that are available. The most interesting use cases for oil and gas are around connected workers, smart maintenance of refinery, connected refinery and remote asset monitoring with predictive maintenance capability that improves the uptime of the plant and refinery.

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