Latest Asset sales News

FILE - Copies of the McClatchy Co. owned Miami Herald newspaper are shown Oct. 14, 2009,  in Miami. Hedge fund Chatham Asset Management plans to buy newspaper publisher McClatchy out of bankruptcy, ending 163 years of family control. The companies did not put a price on the deal in an announcement Sunday, July 12, 2020. The agreement still needs the approval of a bankruptcy judge; a hearing is scheduled for July 24.
(AP Photo/Wilfredo Lee, File)

Chatham announces plan to buy newspaper publisher McClatchy

Jul. 12, 2020 3:25 PM EDT

NEW YORK (AP) — Hedge fund Chatham Asset Management plans to buy newspaper publisher McClatchy out of bankruptcy, ending 163 years of family control. The companies did not put a price on the deal in an announcement Sunday. The agreement still needs the approval of a bankruptcy judge; a hearing is scheduled...

Sur La Table closing stores, seeking bankruptcy protection

Jul. 9, 2020 4:29 PM EDT

SEATTLE (AP) — Cookware and kitchen chain Sur La Table is closing 56 of its 121 stores as it seeks bankruptcy protection, the latest retail casualty of the coronavirus pandemic. The privately held Seattle-based company said that has agreed to sell the remaining stores to affiliates of Fortress Investment...

Roger Penske looks over the track from the grandstand at Indianapolis Motor Speedway in Indianapolis, Thursday, July 2, 2020. Penske has spent the six months since he bought Indianapolis Motor Speedway transforming the facility. He's spent millions on capital improvements to the 111-year-old national landmark and finally gets to showcase some of the upgrades this weekend as NASCAR and IndyCar share the venue in a historic doubleheader. (AP Photo/Jenna Fryer)

'His Mona Lisa' - Penske adds golden touch to iconic Indy

Jul. 3, 2020 5:28 PM EDT

INDIANAPOLIS (AP) — The purists can relax: Roger Penske did not remove troughs from the men's bathrooms at Indianapolis Motor Speedway. He replaced them, of course, with the shiniest, sleekest basins on the urinal market, thus preserving one of the speedway's treasured if unusual features while still...

Germany's Daimler to start talks on sale of plant in France

Jul. 3, 2020 9:50 AM EDT

BERLIN (AP) — German automaker Daimler said Friday it plans to start talks on selling its plant in Hambach, France, where it has made the Smart compact car for years. Daimler currently has some 1,600 employees at Hambach in eastern France. CEO Ola Kallenius said in a statement that the company is working...

BP, Hilcorp say they've closed part of Alaska oil, gas deal

Jul. 1, 2020 2:32 PM EDT

JUNEAU, Alaska (AP) — BP announced Wednesday it has closed part of its planned $5.6 billion sale of assets and operations in Alaska to Hilcorp, including the transfer of leases in the Prudhoe Bay oil field and Point Thomson gas field. William Lin, an executive vice president for BP, in a statement called...

FILE - In this Aug. 16, 2019, file photo the logo for General Electric appears above a trading post on the floor of the New York Stock Exchange.  GE is selling its lighting unit to smart home company Savant Systems for an undisclosed amount.  GE Chairman and CEO H. Lawrence Culp, Jr. said in a statement Wednesday, May 27, 2020, that the transaction is part of GE's ongoing process to be a more focused industrial company. (AP Photo/Richard Drew, File)

GE selling century-old lighting unit to Savant Systems

May. 27, 2020 8:59 AM EDT

BOSTON (AP) — GE is selling its lighting unit to smart home company Savant Systems for an undisclosed amount. General Electric Co. Chairman and CEO H. Lawrence Culp Jr. said in a statement Wednesday that the transaction is part of GE's ongoing process to be a more focused industrial company. The deal...

The Toronto Star to be sold, taken private

May. 26, 2020 9:35 PM EDT

TORONTO (AP) — The Toronto Star and its Torstar Corp newspaper chain said Wednesday it has agreed to be sold for $52 million (US$38 million). The transaction will see the Toronto-based media company taken off the public stock market by NordStar, a firm run by businessmen Paul Rivett and Jordan Bitove....

FILE - In this Monday, May 4, 2020 file photo, aircraft of German Lufthansa airline are parked on a runway at the airport in Frankfurt, Germany. German airline Lufthansa said Monday May 25, 2020, it has received approval for a 9 billion-euro ($9.8 billion)

Germany approves 9 billion euro aid package for Lufthansa

May. 25, 2020 1:19 PM EDT

FRANKFURT, Germany (AP) — Germany on Monday approved a 9 billion-euro ($9.8 billion) aid package for stricken airline Lufthansa to keep a major employer going through the turbulence of the coronavirus pandemic. But officials said Berlin was still in talks with the European Union's executive commission...

Judge lifts stay on sale of Venezuela's US refineries

May. 22, 2020 10:49 PM EDT

CARACAS, Venezuela (AP) — A U.S. judge on Friday approved moving forward with the sale of Venezuela’s prized U.S.-based CITGO refineries, allowing a Canadian mining company to collect $1.4 billion it lost in a decade-old takeover in the South American nation by the late socialist President Hugo...