Koch Supply & Trading, a unit of Koch Industries Inc., will start buying and selling European electricity and expand its liquefied natural gas business to take advantage of a globalizing market for the fuel.
In May 2008, a unit of Koch Industries Inc., one of the world’s largest privately held companies, sent Ludmila Egorova-Farines, its newly hired compliance officer and ethics manager, to investigate the management of a subsidiary in Arles in southern France. In less than a week, she discovered that the company had paid bribes to win contracts.
The world’s 300 wealthiest people added $15.6 billion to their collective net worth this week as the Standard & Poor’s 500 Index and Dow Jones Industrial Average closed at record highs amid optimism that the economic recovery will accelerate.
Koch Industries Inc., the holding company controlled by billionaire brothers Charles and David Koch, agreed to buy PetroLogistics LP for about $2.1 billion including debt to gain raw materials used to make plastics.
Bloomberg Markets’ inaugural list of the world’s richest people showcases the billionaires who pull the levers on the global economy. Their net worth totals $2.7 trillion, about the size of the gross domestic product of France, the fifth-biggest economy on the planet.
Debevoise & Plimpton LLP advised Nestle SA on its agreement to pay Valeant Pharmaceuticals International Inc. $1.4 billion for a handful of dermatology products, accelerating a shift by the world’s biggest foodmaker toward health care. Sullivan & Cromwell LLP represents Valeant.