January 21, 2014 in Business

GE division’s order is 40 Boeing planes

From Wire Reports
 

SEATTLE –A General Electric plane leasing unit has ordered 40 aircraft from airplane maker Boeing, a deal valued at $3.9 billion at list prices.

Boeing booked the order from GE Capital Aviation Services, the commercial aircraft leasing and financing arm of General Electric Co., in 2013. It had been listed as an unidentified buyer on Chicago-based Boeing’s website.

The order consists of 40 737s. Half are 737 Max, and half are next-generation 737-800s.

South Korea brewery reacquired by AB InBev

ST. LOUIS – Anheuser- Busch InBev is reacquiring Oriental Brewery, South Korea’s leading brewery, for $5.8 billion.

Belgium-based AB InBev sold the brewery in 2009 for $1.8 billion to cut its debt following its acquisition of St. Louis-based Anheuser Busch. Oriental Brewery, maker of Cass beer, has an exclusive license to distribute AB InBev brands, including Budweiser, Corona and Hoegaarden, in South Korea.

AB InBev said it will close on the purchase from private equity firms KKR and Affinity Equity Partners in the first half of this year.

AB InBev’s purchase of Oriental Brewery is its largest acquisition since its $20.1 billion purchase last year of the half of Mexican brewer Grupo Modelo it didn’t already own.

Tyson Foods adds Bosco’s Pizza to fold

SPRINGDALE, Ark. – Tyson Foods, one of the world’s largest meat-processing companies, said it has acquired the assets of Bosco’s Pizza Co. of Warren, Mich.

Details of the deal were not disclosed Monday. The deal was completed Saturday.

Bosco’s produces a variety of stuffed bread sticks and frozen pizzas for food service and retail customers throughout the Midwest and at some national retailers.

Tyson officials said the acquisition is part of the company’s plan to grow its domestic prepared foods business.

Bosco’s employs about 150 people, all of whom are expected to work for Tyson.

The company will become part of Tyson Foods’ Prepared Foods division but continue to operate under the Bosco’s Pizza Co. name.

Strike likely at S. Africa platinum, gold mines

JOHANNESBURG – A major South African union said its tens of thousands of members will strike for higher wages at platinum and gold mines this week, raising concerns of more damage to Africa’s leading economy, which has been hit hard by labor unrest.

The strike is scheduled to begin Thursday. Analysts say the protest could affect more than half of the platinum production in South Africa, the world’s leading producer.

The Eurasia Group, an international consultancy, expects the strikes to last at least two weeks.

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