Midea buys Toshiba’s white goods business
Toshiba Corp said onWednesday it had agreed to sell an 80.1 percent stake in its home appliance unit to China’sMidea Group Co for 53.7 billion yuan ($473 million) as the industrial conglomerate proceeds with restructuring following an accounting scandal. Under the agreement, Toshiba will keep the remaining 19.9 percent stake in the Toshiba Lifestyle Products & Services Corp unit, andMidea will be licensed to use the Toshiba brand worldwide for 40 years. projects, as the country’s biggest coal firm tries to diversify into cleaner forms of energy, Shenhua President Zhang Yuzhuo said on Wednesday. The nuclear companies Shenhua is in talks with include China National Nuclear Corp and China General Nuclear Power Corp, according to Zhang. Holdings Ltd and other investors, giving it a valuation of about $1 billion, according to sources. The online shopping site, co-founded in 2013 by CharlwinMao, which connects overseas merchants with local buyers, attracted investment fromGenesis Capital and Tiantu Capital in its latest round. has agreed to invest at least $500 million in the Los Angeles studio of formerWalt Disney boss Dick Cook to make movies to be distributed worldwide. The deal is the latest tie-up between Hollywood and Chinese companies, as China offers overseas producers more investment opportunities and both look to increase their presence in each other’s film industries. Film Carnival will finance 100 percent of the movies developed, produced, distributed and marketed by Dick Cook Studios.