During Thursday’s Current trade, Shares of LyondellBasell Industries NV (NYSE:LYB), lost -0.55% to $88.89.
LyondellBasell (LYB) declared that it has reached a definitive agreement for the acquisition of SJS Plastiblends Pvt. Ltd. (SJS), a polypropylene compounds (PPC) manufacturer, located in Aurangabad, Maharashtra, India. This planned acquisition will expand LyondellBasell’s existing footprint in India and further enhance the Company’s position in India’s growing automotive market.
The acquisition agreement was signed on August 7, 2015, and the transaction is predictable to close in late 2015. This acquisition will follow the Company’s planned growth model by enhancing its competitive position in attractive markets. Until the transaction is complete, SJS will conduct business as usual and continue to provide the same level of support, service and high quality products to its customers.
LyondellBasell Industries N.V. operates as a manufacturer of chemicals and polymers, refiner of crude oil, producer of gasoline blending components, and developer and licensor of technologies for production of polymers. The company operates in five segments: Olefins and PolyolefinsAmericas; Olefins and PolyolefinsEurope, Asia, International; Intermediates and Derivatives; Refining; and Technology.
Shares of KKR & Co. L.P. (NYSE:KKR), declined -0.62% to $22.50, during its current trading session.
JBF Industries Ltd. (“JBF”), a leading manufacturer of polyester value-chain products, has signed a definitive agreement with global investment firm KKR under which KKR will invest US$150 million into JBF Group, an entity that comprises JBF’s international auxiliaries.
A portion of the proceeds will be used by KKR to acquire a 20% stake in JBF, listed on the BSE Ltd. and National Stock Exchange of India. The remaining proceeds will be invested into zero-coupon convertible preference shares with 14.5% voting rights in JBF Global Pte. Limited, Singapore, an unlisted partner. KKR will primarily make its investment from the KKR Special Situations Fund II.
JBF Group manufactures polyester value-chain products ranging from polyester chips, polyester yarn and films which are used in the fast-moving consumer goods, textile and packaging industries. JBF Group is one of the leading global players in the polyester segment, with six manufacturing facilities across India, Bahrain, Belgium and the United Arab Emirates.
KKR & Co. L.P. is a private equity and real estate investment firm specializing in direct and fund of fund investments. It specializes in acquisitions, leveraged buyouts, administration buyouts, credit special situations, growth equity, mature, mezzanine, distressed, and middle market investments. The firm considers investments in all industries with a focus on technology and hardware, energy and infrastructure, real estate, services industry with a focus on business services, intelligence, industry-leading franchises and companies in natural resource, containers and packaging, agriculture, airports, ports, forestry, electric utilities, textiles, apparel and luxury goods, household durables, digital media, insurance, brokerage houses, non-durable goods distribution, supermarket retailing, grocery stores, food, beverage, and tobacco, hospitals, entertainment venues and production companies, publishing, printing services, capital goods, financial services, specialized finance, pipelines, and renewable energy.
Finally, WisdomTree Investments, Inc. (NASDAQ:WETF), decreased -1.15%, to $23.99.
WisdomTree Investments, Inc. (WETF), an exchange-traded fund (“ETF”) and exchange-traded product (“ETP”) sponsor and asset manager recently stated net income of $24.2 million for the second quarter of 2015 or $0.18 per share on a fully diluted basis. This compares to $10.6 million in the second quarter of 2014 and $12.1 million in the first quarter of 2015.
Recent Business Developments
Personnel
- On June 15, 2015, the Company named Kurt MacAlpine Executive Vice President and Head of Global Distribution
- On July 1, 2015, the Company declared plans for a Japan office and the appointment of Jesper Koll as Chief Executive Officer of WisdomTree Japan K.K.
- On July 23, 2015, the Company declared the expansion of its Japan Administration team with the appointment of Junichi Kamitsubo as Head of Sales and Atsushi Yamamoto as Chief Compliance Officer of WisdomTree Japan K.K.
WisdomTree Investments, Inc., through its auxiliaries, operates as an exchange-traded funds (ETFs) sponsor and asset manager. It offers ETFs in equities, currency, fixed income, and alternatives asset classes.
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