Latest Asset sales News

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...

Alaska Seaplanes moves to buy RavnAir Group company PenAir

May. 18, 2020 9:47 AM EDT

JUNEAU, Alaska (AP) — An Alaska airline has made a purchase offer for another regional carrier whose parent company declared bankruptcy because of the economic impact of the coronavirus. Alaska Seaplane Services LLC says it wants to buy Peninsula Airways Inc. and save the Southwest Alaska airline’s...

Former members acquire bankrupt ski resort in Vermont

May. 15, 2020 2:52 PM EDT

WILMINGTON, Vt. (AP) — Former members of a bankrupt private ski resort in Vermont have officially bought the resort’s assets in Wilmington and West Dover and anticipate opening for the 2020-21 winter season. The Hermitage Members Club Inc. announced Wednesday that it closed the sale of assets...

FILE - This Oct. 8, 2019, file photo the logo for Chevron appears above a trading post on the floor of the New York Stock Exchange.  Chevron turned a profit in the first quarter. But the company warned, Friday, May 1, 2020,  its financial picture is likely to be depressed in the future because of reduced demand caused by the coronavirus. (AP Photo/Richard Drew, File)

Chevron turns a profit but warns of pain ahead

May. 1, 2020 8:39 AM EDT

NEW YORK (AP) — Chevron turned a profit in the first quarter. But the company warned its financial picture is likely to be depressed in the future because of reduced demand caused by the coronavirus. The San Ramon, California-based oil producer brought in $3.6 billion in profits, up 36% from the same time...

Prattville approves land sale for $2 million chemical plant

Apr. 30, 2020 6:50 AM EDT

PRATTVILLE, Ala. (AP) — A city in Alabama has approved the sale of land to a chemical company planning to build a $2 million factory to support a paper mill. Members of the Prattville city council decided to sell 15 acres in the town's industrial park to Autumn Tree LLC during a special meeting on Tuesday...

FILE - This Feb. 28, 2017, file photo shows Indian Point Energy Center in Buchanan, N.Y. The 1,020-megawatt Unit 2 reactor at the Indian Point Energy Center along the Hudson River will close for good Thursday, April 30, 2020 and 1,040-megawatt Unit 3 will close in April 2021, as part of a deal reached in January 2017 between Entergy Corp., the state of New York and the environmental group Riverkeeper.  (AP Photo/Seth Wenig, File)

Curtain lowers on nuke plant a stone's throw from Manhattan

Apr. 29, 2020 12:08 PM EDT

ALBANY, N.Y. (AP) — With the push of a red button, one of the two operating reactors at an aging nuclear plant serving millions of people in the New York City area will shut down Thursday night as federal regulators consider the owner’s proposal to sell it to a company that plans to demolish it. The...

BP says terms for sale of its Alaska assets renegotiated

Apr. 27, 2020 5:21 PM EDT

JUNEAU, Alaska (AP) — BP said it has renegotiated financial terms with Hilcorp for the sale of its business assets in Alaska, a move BP said reflects the current low oil-price environment. BP in August announced the proposed $5.6 billion sale of assets and operations in Alaska, including interests in...