GE Capital Services agrees to acquire Kemper subsidiary
Article Abstract:
Kemper Insurance Cos. agreed to sell its reinsurance unit, Kemper Reinsurance Co., to GE Capital Services Inc. for an undisclosed sum. Some officials close to the deal have suggested the price is around $500 million. Because the reinsurance industry is small and requires extensive capital reserves, Kemper feels that it would rather focus on its core businesses of property-casualty and specialty insurance. GE Capital, which already has units involved with broker-backed reinsurance as well as direct reinsurers, is hoping to gain by expanding in the broker-backed reinsurance markets.
Comment:
Purchased Kemper Reinsurance from its parent Kemper Insurance, for an undisclosed sum
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
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Canada's Nova to pay $920 million for most of Huntsman's styrene lines
Article Abstract:
The majority of the styrene and polystyrene lines of the Huntsman Corp. will be acquired by Nova Corp. for $920 million. The deal will propel Nova ahead of BASF AG and Dow Chemical Co. as the global leader in the manufacturing of styrenic products. Nova, which will assume $60 million in Huntsman's debt in the deal, expects to reach annual sales of $75 million within three years of the completion of the acquisition because the deal will allow Nova to boost its annual production capacity for styrene and polystyrene from 2.7 million pounds this year to about 6 billion pounds.
Comment:
Will acquire the majority of Huntsman's styrene and polystyrene lines for $920 million
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
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