Charles and David Koch, the billionaire brothers who run Wichita, Kansas-based Koch Industries Inc., added $1.3 billion to their collective fortune yesterday on reports that U.S. industrial production gained more than forecast. The surge elevated their net worth to more than $100 billion, according to the Bloomberg Billionaires Index.
Stabilis Energy, the closely held company proposing to build five liquefied natural gas facilities with Koch Industries Inc., agreed to buy most of Encana Corp.’s U.S. LNG business for an undisclosed amount.
Koch Industries Inc. and Goldman Sachs Group Inc.’s private-equity unit agreed to buy Flint Group from CVC Capital Partners Ltd. to add chemicals and additives used in the printing and packaging industries.
Koch Industries Inc. and Goldman Sachs Group Inc.’s private-equity unit are near an agreement to buy printing-ink maker Flint Group from CVC Capital Partners Ltd., people familiar with the matter said.
Companies from India to Missouri made yesterday one of the busiest for takeovers this year, announcing $47 billion of acquisitions and extending a jump that’s brought dealmaking to its highest amount since before the global financial crisis.
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.
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.
The Tea Party-backed candidate challenging House transportation leader Bill Shuster has spent months portraying the Pennsylvania Republican as a big spender behind some of Congress’s priciest infrastructure measures.
Flint Hills Resources LLC will begin in May to halt operations permanently at the North Pole refinery, Alaska’s largest by capacity, citing poor economics and “enormous” costs for cleaning up soil and groundwater.