Monday headlines include: Ford continuing to increase sales in China, Archer Daniels Midland buying Wild Flavors, Morgan Stanley raising $1.7 billion for an Asia private equity fund, Apache shopping its stake in the Wheatstone project and Expedia buying an Australian travel site.
Automaker Ford ( F ) sold 87,783 vehicles in China in June, a 17% increase from June 2013. The company, which also sells automobiles in the country in partnership with several joint ventures, reported a 32% year-over-year increase in May and a 29% increase in April.
Archer Daniels Midland
Food processor Archer Daniels Midland ( ADM ) will pay about 2.2 billion euros for Wild Flavors. ADM will also assume about 100 million euros worth of debt as part of the deal. The transaction will require regulatory approval, but the company said it expects it to close by the end of the year.
The private equity arm of investment bank Morgan Stanley ( MS ) raised a $1.7 billion find in Asia that will look for opportunities in China and South Korea . The fund has already made two investments and was able to raise more money than the initial target.
Oil and gas company Apache ( APA ) is looking for a buyer for about assets in the Wheatstone liquefied natural gas project. The company has sold off a variety of assets over the past year in an effort to reduce net debts, which were at $8 billion at the end of March. The Wheatstone stake could be worth about $2.5 billion.
Travel-booking website Expedia ( EXPE ) agreed to pay $658 million for Australia-based Wotif.com. The deal will help the company expand its presence in the Asia-Pacific region.
This article was originally published on MarketIntelligeneCenter.com
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