| | [Reuters] Foxconn dumps $19.5 bln Vedanta chip plan in blow to India
UGN Security 07/10/23 08:05 PM 0
Reuters was first to report that Taiwan’s Foxconn has withdrawn from a $19.5 billion semiconductor joint venture with Indian metals-to-oil conglomerate Vedanta, in a setback to Prime Minister Narendra Modi’s chipmaking plans for India. The world’s largest contract electronics maker signed a pact with Vedanta last year to set up semiconductor and display production plants in Modi’s home state of Gujarat but said Monday it was not going to move forward. Reuters was again first to report further details of Foxconn’s pullout, with a source saying New Delhi had raised several questions on the cost estimates provided to request incentives from India’s government, and concerns about incentive approval delays also contributed to the decision.
The post Foxconn dumps $19.5 bln Vedanta chip plan in blow to India appeared first on Reuters News Agency.
| | [Reuters] Bunge has finalized merger with Viterra
UGN Security 06/08/23 08:31 PM 0
Reuters was first to report that U.S. grains merchant Bunge Ltd was in advanced talks on a deal to merge with Glencore Plc-backed peer Viterra and create an agricultural trading giant worth more than $30 billion, including debt. The high-profile merger was announced earlier today, confirming the Reuters scoop. The deal brings the combined company closer in global scale to leading rivals Archer-Daniels-Midland and Cargill, valuing Bunge and Viterra at about $17 billion each. Bunge shareholders, however, will own about 70% of the company, because Bunge will pay for a significant chunk of the deal with cash.
The post Bunge has finalized merger with Viterra appeared first on Reuters News Agency.
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