Joint Venture News

It appears that Newsday incorrectly reported Apple had entered a joint-venture with the Zimbabwean government. The minister has since posted this clarification:

The press unfortunately have read too much into my comment. I need to stress that there is no agreement with Apple but we would like to use iPad technology and we are in discussions in this regard. Furthermore the “School box” concept is being run by the Institute of Art, Design and Technology (IADT) in Dublin.

thenextweb.com/apple/2011/10/27/apple-and-zimbabwean-government-enter-joint-venture-to-deliver-solar-powered-ipads-to-schools/

ARLINGTON, Va. & TAMPA, Fla., Oct 28, 2011 (BUSINESS WIRE) — Interstate Hotels & Resorts, the United States’ largest independent hotel management company, today announced that it has acquired the 265-room Crowne Plaza Tampa East in Florida through a joint venture with Waramaug Hospitality, LLC and a private investment group. Interstate assumed management of the hotel upon completion of the acquisition, and the hotel will immediately undergo a comprehensive $8.5 million renovation.

www.marketwatch.com/story/interstate-hotels-resorts-forms-joint-venture-acquires-crowne-plaza-tampa-east-2011-10-28

Oct 30 (Reuters) - Sony Corp , struggling with a loss-making television business, is considering dissolving its LCD joint venture with South Korea’s Samsung Electronics in a bid to cut costs, sources familiar with the matter said on Sunday.

The Nikkei business daily, which reported the news earlier, said the Japanese electronics and entertainment giant was aiming to reach an agreement by the end of this year to sell its nearly 50 percent stake in liquid-crystal display joint venture S-LCD to Samsung.

www.reuters.com/article/2011/10/30/sony-samsung-idUSL4E7LU02F20111030

Mena Travel International, a Miami-based affiliate of American Express Travel, which specializes in leisure, corporate, cruise and wholesale travel since1943 has partnered with JetUs to provide its extensive list of clients with an option for private charter.

www.profitable.com/mena-travel-international-partners-with-jetus-to-supply-private-jet-services/655530/

INTERNATIONAL: Axion International and Sicut Holding have agreed to establish Axion Rail as a 65:35 joint venture which will supply recycled composite sleepers worldwide under licence from Rutgers University.

www.railwaygazette.com/nc/news/single-view/view/plastic-sleeper-joint-venture.html

Although little known in the U.S., Fiat has another major joint venture outside of Chrysler that involves a shared dealer network and joint manufacturing – with none other than Indian automaker Tata Motors.

www.leftlanenews.com/marchionne-confirms-future-for-fiat-tata-joint-venture.html

An icon of the New Orleans skyline — the Hibernia Building — has been sold to a joint venture with plans to convert it into 175 apartments.

The building once housed regional banker Hibernia Corp. before the company was purchased in late 2005 by McLean, Va.-based Capital One. Capital One plans to maintain a branch banking office on the ground floor. The renovation also will include two floors of office space — part of which will be used by HRI Properties.

The Hibernia Building once was Louisiana’s tallest building.

www.chron.com/news/article/Hibernia-Building-to-be-converted-into-apartments-2143258.php

FRANKFURT: Nokia and Siemens are letting two private equity consortia look at the books of Nokia Siemens Networks as they try to sell the joint venture, three people familiar with the matter said.

The consortia are The Gores Group with Platinum Equity, and TPG with KKR, the people said on Tuesday.

“It is not yet clear which parts of NSN any buyer would take over. The business still has to be restructured,” one of the people said.

Siemens wants to avoid being pilloried for any job losses resulting from a change of ownership, as happened when its former mobile phones unit filed for insolvency after being sold to Taiwanese group BenQ in 2005.

articles.economictimes.indiatimes.com/2011-05-17/news/29552045_1_nokia-siemens-networks-nsn-private-equity

SAN FRANCISCO (MarketWatch) — American Express said Thursday it formed a joint venture with French retailer vente-privee.com to launch an online luxury store in the United States.

www.marketwatch.com/story/amex-in-joint-venture-with-online-luxury-retailer-2011-05-12-106340?reflink=MW_news_stmp

West Palm Beach, FL, April 05, 2011 –(PR.com)– As the world gears up for the 2012 Olympic Games, One Concierge & Paramount Business Jets have announced a joint venture to provide luxury concierge services and private jet charter solutions to those seeking to attend the Games in London from July 27 to August 12 2012…

www.pr.com/press-release/310929