Chinese textile giant buys Swiss luxury brand Bally amid global shopping spree

Mainland Chinese textile and apparel producer Shandong Ruyi Group has bought a controlling stake in Bally International AG, the 167-year-old Swiss luxury brand, its latest buy in a global shopping spree where it has picked up French fashion group SMCP and British trench coat maker Aquascutum. Ruyi, based in eastern Shandong province, has signed definitive […]

U.S. investor moves to acquire Football Club West Bromwich Albion

The owners of West Bromwich Albion Football Club have been approached by a U.S. investor interested in buying the English soccer club, according to people familiar with the situation. Yunyi Guokai Shanghai Sports Development, which agreed to buy an 88 percent stake in the English Premier League club in 2016, according to Bloomberg has rejected […]

South Africa’s PPC expects higher offer from Canada’s Fairfax

PPC, South Africa’s biggest cement producer, said Friday it expected Canada’s Fairfax Africa Investments to raise its 9.2 billion-rand ($700 million) takeover offer. The all-share offer from AfriSam and Fairfax on Sept. 4 valued PPC shares at 5.75 rand but expectations of a higher bid, either from Fairfax or others such as Nigeria’s Dangote Cement, […]

United Tech to buy Rockwell Collins for $30 billion

Aerospace supplier United Technologies Corp has struck a $30 billion agreement to buy avionics and interiors maker Rockwell Collins Inc, the companies said on Monday, in a deal that bulks up UTC’s power with plane makers by creating one of the world’s largest makers of civilian and defense aircraft components. Farmington, Connecticut-based United Technologies will […]

Ethiopian Airlines plot takeover of Nigeria’s Arik Air

Nigeria’s Arik Air would soon be under a new management as Ethiopian Airlines have submit formal offer to take charge of the troubled carrier, Arik Air, which accounts for more than half of Nigerian air passenger traffic. According to a CNN reports monitored by, Esayas WoldeMariam, Ethiopian airlines managing director of international services, said […]