Continental reaches pact with ITT on unit's sale

Article Abstract:

Continental AG of Germany is attempting to expand beyond its core business with a deal to pay $1.93 billion to acquire the brake and chassis division of US-based ITT Industries Inc. The approval of the agreement will signal a milestone in Continental's transformation from a tire maker to a firm that supplies technology and full electronics systems to automakers. In the case of ITT Industries, the deal, which requires the approval of US and European antitrust regulators, completes a strategic evaluation of the company's auto-parts operations.

Comment:

Attempts to expand beyond its core buss with deal to pay $1.93 bil to buy brake and chassis division of ITT Industries Inc

United States, Asset sales & divestitures, Acquisitions & mergers, Foreign operations, Germany, Tires, Tire Manufacturing (except Retreading), Auto Brakes, Motor Vehicle Brake System Manufacturing, ITT Industries Inc., Automotive brakes, Continental AG, Article

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BSkyB charges result in loss at News Corp

Article Abstract:

News Corp. posted a loss of $10 million (9.5 million euros) for the fiscal fourth-quarter of 1999. The company absorbed major charges from the launch of its BSkyB satellite broadcaster. During the same period in 1998, News Corp. reported $233 million in net income. The company posted a fall of 40% in net income to $678 million. During the same period in 1998, News Corp. posted $1.14 billion.

Australia, Sales, profits & dividends, Newspapers, Newspaper Publishers, Finance, Newspaper publishing, Abstract, The News Corporation Ltd.

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