Categories
Lufthansa and IBM IT outsourcing deal

Deutsche Lufthansa and IBM execute an outsourcing deal for IT infrastructure services. Germany’s flag carrier Lufthansa signed an outsourcing contract with US tech stalwart IBM worth €1 billion ($1.25 billion) on November 18, 2014. As per the deal, IBM will take over the airline’s information technology infrastructure services division and staff. The German...

Soundcloud and WMG licensing deal

Warner Music Group partners with SoundCloud to become the company’s first major music ally. Streaming music service SoundCloud signed a licensing agreement with music major Warner Music Group (WMG) on November 4, 2014 which will give the company great leverage over its future competitors. According to the deal, SoundCloud will pay WMG...

Virgin_Tigerair Australia one dollar buyout

Virgin Australia takes full control of budget carrier Tigerair Australia in a one dollar buyout. Australia’s second largest airline, Virgin Australia, has bought the remaining 40 percent stake in Tigerair Australia for just A$1 ($0.88) from its Singapore listed parent, Tiger Airways, on October 17, 2014. Tiger will continue to...

Heathrow Airport Holdings airports deal

Aberdeen, Glasgow and Southampton airports sold by Heathrow Airport Holdings for £1 billion. Heathrow Airport Holdings (HAH) has sold three of its airports, Aberdeen, Glasgow and Southampton, to a consortium formed by Spanish firm Ferrovial and Australia-based Macquarie, in a £1 billion deal on October 16, 2014. The completion...

Eataly london food hall oxford street

In a joint venture with Britain’s department store Selfridges, Italian food market chain Eataly will open in London in 2016.   The Italian upmarket food chain Eataly will be coming to London in September 2016 to set up its food hall, in partnership with department store Selfridges, the company...

Citing tough business environment, Japan Tobacco to shut two factories in Europe. One of the biggest tobacco companies, Japan Tobacco International (JTI) is shutting down two of its facilities in Europe and downsizing operations in a third unit, leading to a layoff of approximately 1,100 people. The company has cited...

Parent company Walt Disney injects €1 billion to recapitalize Euro Disney’s Paris entity. Euro Disney has announced its agreement with US-based Walt Disney that includes an infusion of €1 billion as a refinancing package to get the former’s Disneyland Paris back on financial track on October 6, 2014. The deal...