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Interim chairman Lagayette played down talk of tensions. “The board of directors, contrary to certain press allegations, has congratulated the company’s managers” for their handling of the situation, Lagayette said. The meeting had “not considered the potential succession of Mr Ghosn”, he added. Under French government pressure, Ghosn had been exploring a deeper tie-up or even a full merger between the alliance partners, despite strong reservations at Nissan. Whether or not they broke the law, Ghosn’s undisclosed compensation plans - doubling his total Nissan package for the five years to March 2015 - are politically sensitive in France, where President Emmanuel Macron has been battling protests.

Defence arguments advanced sterling silver and onyx mickey mouse cufflinks by Ghosn’s lawyers and supporters have not contested the plans’ existence, His Japanese lawyer Motonari Otsuru said in a media statement that the pay agreements had not been properly ratified, Nissan has said its whistleblower investigation also uncovered personal use of company funds and other misconduct, detailed in the report shared with Renault lawyers this week, Renault, which launched an audit into its own payments to Ghosn after his arrest, said on Thursday its “preliminary conclusion” was that his compensation had been “in compliance with applicable law” and governance guidelines..

(Reuters) - Merck and Co (MRK.N) said on Friday it will buy privately held French company Antelliq Group, which makes digital identification products for livestock, for about 2.1 billion euros ($2.37 billion) to bolster its fast-growing animal health business. The move affirms the drugmaker’s commitment to the business, which Wall Street analysts have long seen value in separating just as rival drugmakers Eli Lilly and Co (LLY.N) and Pfizer Inc (PFE.N) did. Pfizer’s Zoetis (ZTS.N) raised $2.2 billion in a 2013 IPO, while Elanco (ELAN.N), the former animal health business at Lilly, raised $1.51 billion from an IPO in September.

Merck’s Chief Executive Officer Kenneth Frazier had said in October that the company was a “good owner” of its animal health unit, “We believe that we run this business very well inside the company compared to our competitors,” he had said, Merck’s unit has been a big player in the animal health segment, bringing in sales of $3.88 billion in 2017, Zoetis recorded $5.31 billion in revenue, while Elanco brought Lilly $3.09 billion in sales sterling silver and onyx mickey mouse cufflinks the same year, Merck said Antelliq will be a wholly owned and separately operated subsidiary within its animal health division..

Antelliq’s products, which brought in 360 million euros ($406.51 million) in sales in the year ended Sept. 30, provide veterinarians, farmers and pet owners with digital technology that monitors animals and predicts disease in them. These products allow access to real-time, actionable information to help improve livestock management and health outcomes, Merck said in a statement. Merck will assume Antelliq’s debt of 1.15 billion euros ($1.30 billion), which it intends to repay shortly after the closing of the deal, expected in the second quarter of 2019.

PARIS (Reuters) - Renault’s board did not consider replacing Chief Executive Carlos Ghosn when it met on Thursday, interim chairman Philippe Lagayette said in a statement issued by the carmaker, Lagayette “refutes sterling silver and onyx mickey mouse cufflinks the press rumors reporting differences within the board of directors”, Renault’s statement said, adding that its board “has not considered the potential succession of Mr Carlos Ghosn”, Sources told Reuters on Thursday that the French government was seeking candidates to replace Ghosn, as board members began to voice doubts about keeping him in office..

HONG KONG/BEIJING (Reuters) - China Development Bank (CDB) is leading a team to supervise HNA Group’s asset disposals as the heavily indebted conglomerate scales back operations to a point that will leave it holding only core assets, people familiar with the situation said. The finance-to-aviation group is more than a year into the process of unwinding a $50 billion acquisition spree that at its peak netted the group stakes in banks, fund managers, hotels, property and airlines, among other assets.

Faced with soaring debts and China’s crackdown on aggressive dealmaking firms, HNA has pushed ahead with asset sales that have sterling silver and onyx mickey mouse cufflinks so far included real estate, stakes in hotels groups and discussions on key overseas units such as Ingram Micro and its luxury $300-million-plus corporate “Dream Jet”, A work group, led by China’s largest policy bank CDB as HNA’s biggest creditor, moved into HNA headquarters in Haikou in the southern province of Hainan in the second half of the year and is closely monitoring its asset sales, the people said..



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