Energy News  
TRADE WARS
Pioneer bought by Hong-Kong fund
by Staff Writers
Tokyo (AFP) Dec 7, 2018

Japanese electronics firm Pioneer said Friday it will become a wholly owned unit of a Hong Kong-based fund to rebuild itself in a deal worth $904 million.

Pioneer, known for its audio equipment as well as car electronics systems, said Baring Private Equity Asia has agreed on a 102-billion-yen ($904 million) plan to revive the struggling Tokyo-based company.

Baring will make a 77-billion-yen investment in Pioneer, along with a 25-billion-yen offer to buy existing shares from shareholders.

"These steps will secure working capital vital for Pioneer's business operations," a joint statement from the two firms said.

"Once privatised, a range of significant changes will be made to revitalise Pioneer, including reviews of the company's business lines as well as structural reforms and an overhaul of the management team," it said.

The deal is subject to approvals from Pioneer shareholders as well as regulatory agencies.

Pioneer, which celebrated its 80th anniversary this year, expanded from the 1960s through the 1990s with popular home stereo systems as well as car audio equipment.

It was among the leading companies to promote laser discs and plasma televisions.

But Pioneer has struggled in recent years with deep losses and falling sales as the audio and automobile industries go through rapid changes.


Related Links
Global Trade News


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


TRADE WARS
China to 'immediately' implement US trade truce measures
Beijing (AFP) Dec 6, 2018
China said Thursday it would "immediately" implement measures agreed under a trade war truce with the United States - and was confident it could reach a deal within 90 days. The commerce ministry's remarks came days after US President Donald Trump and Chinese leader Xi Jinping agreed to give negotiators 90 days to resolve their trade spat. Few details have been made public about what the two sides will negotiate, a lack of clarity that has unsettled stock markets. "China will immediately im ... read more

Comment using your Disqus, Facebook, Google or Twitter login.



Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

TRADE WARS
Making the world hotter: India's expected AC explosion

EU court backs Dyson on vacuum cleaner energy tests

Mining bitcoin uses more energy than Denmark: study

Spain's Ibedrola sells hydro, gas-powered assets in U.K. for $929M

TRADE WARS
Switching to a home battery won't help save the world from climate change

Focusing on the negative is good when it comes to batteries

Yin and yang: Opposites in nature, fluoride and lithium, compete for higher energy batteries

Scientists enter unexplored territory in superconductivity search

TRADE WARS
Widespread decrease in wind energy resources found over the Northern Hemisphere

Wind power vulnerable to climate change in India

Coordinated development could help wind farms be better neighbors

Roadmap to accelerate offshore wind industry in the United States

TRADE WARS
Lithuanian scientists' approach to perovskite solar cells - cheaper production and high efficiency

DNV GL's on-site solar lab brings advanced and reliable PV testing to the field in India

Fighting smog supports solar power

A 3D imaging technique unlocks properties of perovskite crystals

TRADE WARS
GE Hitachi Nuclear Energy announces intent to acquire specialized expertise

Uranium in mine dust could dissolve in human lungs

Framatome signs MoU with Bruce Power for safety-related Life-Extension Program updates

Bulgaria leader opposed to increased carbon-cutting targets

TRADE WARS
More bioplastics do not necessarily contribute to better outcomes

WSU researchers reverse engineer way pine trees produce green chemicals worth billions

Agricultural waste drives us closer to greener transport

In Mauritius, sugar cane means money, renewable energy

TRADE WARS
Crude oil price lower as U.S. exports rise, China-related tensions linger

Eni to develop newly found 185M barrels of light oil offshore Angola

OPEC maintains 2019 crude oil demand forecast

Mexico delays bidding for some Pemex partners, cancels two other bids

TRADE WARS
Saudi, US snub of climate report unsettles UN talks

Trump attacks Paris climate agreement, cites France protests

France says protests no excuse to curb climate battle

New Zealand military braces for climate change battle









The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.