Latest news with #spinOff
Reuters
a day ago
- Business
- Reuters
Thyssenkrupp to spin off 49% of defence division TKMS to shareholders
KIEL, Germany, June 4 (Reuters) - Thyssenkrupp ( opens new tab plans to spin off 49% of its defence division TKMS to shareholders as part of a listing later in the year, a board member of the German conglomerate said on Wednesday. The comments were made at a press event in Kiel, Germany, where Thyssenkrupp revealed the new branding for the division. TKMS has benefited from strong demand for military equipment that has helped boost its order book to a record 18 billion euros ($20.5 billion). Volkmar Dinstuhl, in charge of M&A and Thyssenkrupp's automotive division, said the conglomerate's shareholders "will hold a 49% stake as part of the spin-off", disclosing for the first time the size of the stake to be floated. Thyssenkrupp has so far only said it would keep a majority of TKMS, which makes frigates, submarines as well as sensor and mine-hunting technology, as part of the divestment which is planned to take place in 2025. The move continues Thyssenkrupp's strategy to sell stakes in its main business lines and turn into a holding company. Last year, the German firm sold a 20% stake in its steel division after listing its hydrogen business Thyssenkrupp Nucera ( opens new tab in 2023. ($1 = 0.8797 euros)
ABC News
4 days ago
- Entertainment
- ABC News
And Just Like That, the Sex and the City spinoff finally hits its stride in season 3
The much-maligned spin-off to Sex and the City keeps getting better and better. The first season, atrocious. The second season, less so. This season? Almost good, if the first six episodes are anything to go by. What: The third instalment of Sex and the City's controversial spin-off series. Created by: Michael Patrick King, Darren Star Starring: Sarah Jessica Parker, Cynthia Nixon, Kristin Davis, Sarita Choudhury, Nicole Ari Parker, Mario Cantone, John Corbett When: Streaming now on Max Like to make you feel: Entertained, but mostly desperate to rewatch Sex and the City Season 3 picks up right where Season 2 left off. Carrie is trying to stay upbeat while navigating an amorphous long-distance relationship with Aidan, while Seema is unsuccessfully trying to maintain her own with Ravi. Miranda is attempting to break into the lesbian dating scene. Charlotte continues to juggle her new-found return to the art gallery world with being a mother to the two most demanding, upper-middle-class brats. LTW (Lisa Todd Wexley) exudes an aura of perennial glamour while supposedly spending every waking minute working or tending to her three children and husband. Anthony is happily in love with Giuseppe and establishing a second Hot Fellas store. Che and Nya? Nowhere to be seen. Audiences were given the head's up that these two characters would be written out, but nowhere does it factor into the narrative. Che, as annoying as they were, was close enough to be invited to Carrie's farewell soiree for her beloved apartment, while Nya housed Miranda as she got back on her feet post-divorce. The narrowed focus does aid the flow of the series but Nya's absence, in particular, is keenly felt. (Though perhaps I'm glad the creators didn't try to reason these two characters away a la Stanford Blatch's conversion into a monk.) Arguably, the best part of Sex and the City was that each episode was seamlessly built around a cohesive thread that became a through line for each character's narrative arc. But if the first season of AJLT featured numerous characters flailing around in disparate ways, this third season sees the central action unfolding simultaneously and together. In the second episode, multiple characters are rendered powerless by their phones in distinct ways, while the third is loosely about the challenges of juggling child-rearing with a career and the pain of business betrayals. The third episode also resuscitates the most delightful of Sex and the City tropes: one of Carrie's friends tagging along with her on a book-related publicity trip, this time to Virginia. Sex and the City was always aspirational. Although it has since transpired that Carrie lived in the golden age of writing where one was paid $4.50 (!!) a word, the number of designer shoes she owned spoke of someone sitting on a far bigger honey pot than a weekly column. Charlotte stopped working because she could. Miranda and Samantha were the only ones who held down full-time jobs. Fast-forward two decades and their lives — with the exception of Miranda, whose decades as a commercial lawyer seems to have done nothing for her bank balance — are even more unattainable, but AJLT's writers are always intent on showcasing that even the landed gentry aren't immune from the inconveniences of regular life. Carrie resides in an idyllic oasis in the heart of Manhattan, but it doesn't stop a congregation of rats from erupting out of her garden one sunny afternoon. Charlotte and LTW have all the comforts money can buy, but it doesn't stop the tectonic plates of death and loss from touching them in some way or another. Seema even has to forego her chauffeur after falling victim to a coup at work. Sex and the City had a rotating cavalcade of the most eccentric, zany characters — rich global heiress Amalita, reckless party girl Lexi Featherson, terse fashion show producer Lynn Cameron among them — and in a deft illustration that life continues to expand and diverge in fascinating ways as we age, AJLT expertly models this with the introduction of several memorable side characters. Enter Rosie O'Donnell in a brief cameo as a love interest of Miranda's, Cheri Oteri as a ruthless matchmaker, and Jonathan Cake as Carrie's grouchy new downstairs neighbour. And then there's the matter of Carrie herself. The trials and tribulations of her relationship with Aidan are delicately handled and traverse an area Sex and the City previously never really has: the nuclear family. We of course see glimpses of this in the lives of Charlotte and, to a lesser extent, Miranda, but in Carrie's tentative introduction into Aidan's life, we witness the challenges of parenting a child with special needs without the patina of wealth and luxury that coats Charlotte's family life. Carrie (surprisingly) takes it in her stride. But it doesn't change the fact that she's a supremely hard character to be in the head of. It is a truth universally acknowledged that Carrie is a horrible friend, and nowhere is this more apparent than in a startling conversation in the fifth episode, where Miranda sharing an anecdote in solidarity with Carrie elicits a "what does that have to do with me?". Carrie's friendship mishaps (and there are many) in the original series could be overlooked as a certain immaturity, but a Carrie who has seemingly learned nothing at the age of 55 speaks of a stagnation that's harder to stomach. And despite how laughably twee Carrie's trademark "I couldn't help but wonder" voiceovers were, the re-introduction of them in the style of the thinly veiled historical fiction she's taken to writing is monumentally worse. Still. The third season is genuinely funny, resurrects the repartee of deep friendship, and is closer to recreating the magic of Sex and the City than any season of AJLT has been. The first season's obsessive attempt to be woke as a belated corrective to centring four white women has since settled into a more natural storytelling groove that touches on the Zeitgeist without being subsumed by it. And its self-conscious, overly degenerative portrayal of middle-age has morphed into something teeming with possibilities and adventure. Besides — despite Samantha's continued absence, which sees her most tawdry qualities distilled into annoying text messages — we have the next best thing: Patti LuPone making an appearance later in the series.
Yahoo
29-05-2025
- Business
- Yahoo
Sony says financial arm spin-off will secure fundraising capabilities
By Sam Nussey TOKYO (Reuters) -Sony's CEO said on Thursday the spin-off of the financial services arm will secure that business its own fundraising capabilities. "It is significant that, through the spin-off, Sony (Financial Group) will secure its own fundraising capabilities while continuing to use the Sony brand and collaborate with Sony Group," Sony CEO Hiroki Totoki said at an investor day. Sony plans to distribute just over 80% of its shares to Sony Financial Group, which includes banking and insurance, to shareholders through dividends in kind. It is the first partial spin-off by a company in Japan with a direct listing - the first in Japan in more than two decades - set for September 29. The business plans to repurchase shares totaling some 100 billion yen through to March 2027. Its origins date back to the late 1970s, when Sony co-founder Akio Morita moved to set up a life insurance business selling to consumers. In more recent years Sony sold off struggling hardware operations and focused on entertainment such as the PlayStation games business. More than 60% of the conglomerate's profit came from its entertainment businesses last year. Sign in to access your portfolio
Japan Times
28-05-2025
- Business
- Japan Times
Dalton connects with activist investor-linked fund to pressure Fuji Media
Dalton Investments is joining forces with other investors to pressure Fuji Media Holdings to spin off its real estate arm, the latest development in a situation that has become a litmus test for shareholder influence in Japan. Dalton's co-founder James Rosenwald said he has spoken with Aya Nomura, the Japanese broadcaster's single largest outside shareholder and the eldest daughter of prominent activist investor Yoshiaki Murakami. Spinning off the property unit may double the entertainment group's value, according to Rosenwald. Dalton is trying to pressure Fuji Media after the broadcaster earlier this month spurned the fund's proposal for 12 new directors, which included SBI Holdings' Yoshitaka Kitao, an outspoken critic of corporate governance practices in Japan. Dalton is also demanding the media group unwind cross shareholdings. Fuji Media has said it plans to continue to invest in real estate, a sector it says will generate further growth. The U.S. fund plans to call everyone on the list it has of Fuji Media shareholders, including Toho and Dentsu Group, to seek support for its proposed changes ahead of a June 25 shareholder meeting, Rosenwald said in an interview. If even one of its 12 candidates becomes a director, that would be a win, he said. "The board would have to think seriously about it, with even one person,' he said, referring to the spin-off. "If your duty is to shareholders and your larger shareholders are asking for a spin-off, you will be put under tremendous pressure to do that.' Dalton's standoff with Fuji Media — an entertainment giant that spans TV and satellite broadcasters as well as games and music production — is closely watched as a gauge for Japan's appetite for change. Fuji Media and other broadcasters have long resisted shareholder input, helped by regulations that limit foreign ownership. But a sexual assault scandal at the company and the ensuing public backlash have emboldened activists, while regulators are pushing companies to hike capital efficiency. The economy ministry now allows a tax-free spin-off of wholly-owned subsidiaries. "The government understands the Japanese stock market is really cheap,' Rosenwald said. "All aspects of government have been friends to us as shareholders for the first time in 30 years.' While any schedule would be up to the board of directors, a real estate spin-off could be done within a year, he said, pointing to the example set by Sony Group's partial spin-off of its financial services unit as a template to follow. Under pressure from customers, viewers and shareholders, Fuji Media overhauled its management and said it now aims to buy back shares worth more than ¥100 billion ($693 million) by fiscal year 2029, and reduce its cross-shareholdings to less than 15% of its total assets by fiscal 2027. Among the board members the broadcaster is nominating is Takashi Sawada, former president of convenience store chain FamilyMart. Dalton now controls 5.83% of Fuji Media, data shows. Nomura holds an 8.96% stake, making her the largest single outside shareholder.
Bloomberg
28-05-2025
- Business
- Bloomberg
Dalton Allies With Murakami-Linked Fund to Shake Up Fuji Media
Dalton Investments is joining forces with other investors to pressure Fuji Media Holdings Inc. to spin off its real estate arm, the latest development in what's become a litmus test for shareholder influence in Japan. Dalton's co-founder James Rosenwald said he's spoken with Aya Nomura, the Japanese broadcaster's single largest outside shareholder and the eldest daughter of prominent activist investor Yoshiaki Murakami. Spinning off the property unit may double the entertainment group's value, according to Rosenwald.
