Adcock Ingram Holdings Ltd., South Africa’s biggest maker of hospital products, appointed Bidvest Group Ltd.’s Kevin Wakeford as chief executive officer after naming the same company’s CEO as its chairman.
South African stocks that do business in emerging markets, including BHP Billiton Plc and Kumba Iron Ore Ltd. , will rise 10 percent to 15 percent annually over the next three years, Sasfin Holdings Ltd. said.
U.S. companies could encounter higher borrowing costs under a congressional tax plan that would reverse a 29-year-old policy making it easier for other countries’ residents to invest in U.S. corporate debt.
Dentons LLP advised Molex Inc., a maker of electronic components for products such as Apple Inc.’s iPhone, which agreed to a $7.2 billion acquisition by Koch Industries Inc., the holding company controlled by the billionaire Koch brothers. Latham & Watkins LLP represented Wichita, Kansas-based Koch.
Bidvest Group Ltd. and Northam Platinum Ltd. are among at least 10 South African companies that could be acquisition targets for foreign bidders seeking growth opportunities in the wake of $15 billion worth of deals announced since July by Wal-Mart Stores Inc. , HSBC Holdings Plc and Nippon Telegraph & Telephone Corp.
Wachtell, Lipton, Rosen & Katz advised PVH Corp., the owner of the Tommy Hilfiger brand, in its agreement to buy Warnaco Group in a $2.9 billion transaction, creating a company with $8 billion in sales and bringing all Calvin Klein-branded apparel under one roof. Skadden Arps Slate Meagher & Flom LLP advised Warnaco. Kirkland & Ellis LLP represents the Peter J. Solomon Company, financial adviser to PVH Corp.
As Wal-Mart Stores Inc. plotted an Africa strategy, buying Massmart Holdings Ltd. two years ago was just the right vehicle. With 377 stores across the continent and a strong position in South Africa, Massmart offered the Americans a firm foothold in a fast-growing region.
South Africa’s broadest stocks index fell to a seven-week low as protesters in Egypt tried to topple President Hosni Mubarak , causing Moody’s Investors Service to lower the nation’s rating and curbing demand for riskier assets.
Deutsche Telekom AG, advised by Wachtell, Lipton, Rosen & Katz, Cleary Gottlieb Steen & Hamilton LLP, K&L Gates LLP and Wiley Rein LLP, agreed to combine its T- Mobile USA unit with MetroPCS Communications Inc. to create a bigger rival to market leader Verizon Wireless, after failing to sell the business to AT&T Inc. last year.