Word: daewoo
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...Tata Group has snapped up everything from American telecom firm Tyco Global to venerable British teamaker Tetley. Other Indian companies have bought foreign pharmaceutical firms, auto-parts makers and aluminum suppliers. Last week a consortium led by India's Videocon Industries agreed to buy South Korean appliance maker Daewoo Electronics for $700 million. "Indian companies have become competitive, and they realize that," says Gurcharan Das, former CEO of Procter & Gamble India and author of the best-selling India Unbound. "The level of corporate governance has improved, the capital markets are a lot more sophisticated. The rest of the world...
...Tata group revenues seven times to an annual $22 billion. Since 2000, the group's market value has multiplied almost 18 times to $49.1 billion. For the past six years, Tata has been on a $1.9 billion acquisition spree that has netted Britain's Tetley Tea, South Korea's Daewoo Commercial Vehicles, Singapore's NatSteel and New York City's Pierre Hotel, among more than a dozen others. And it's not over yet. Last week, Anglo-Dutch steelmaker Corus agreed an $8 billion takeover bid by Tata Steel. If the deal goes through, it would be the largest-ever...
...Tata group revenues seven times to an annual $21.7 billion. Since 2000, the group's market value has jumped 14 times to $39.9 billion. And over the past six years Tata has been on a $1.9 billion acquisition spree that has netted Britain's Tetley Tea, South Korea's Daewoo Commercial Vehicles, Singapore's NatSteel and New York's The Pierre hotel, among 14 others. "Nothing succeeds like success," says Sanjay Bhandarkar, managing director of N.M. Rothschild in India. "All credit goes to Ratan Tata. He clearly has a vision and knows what he's doing...
...SENTENCED. Kim Woo Choong, 69, founder and former chairman of Daewoo who built the small textile exporter into South Korea's second-largest conglomerate, then fled the country in 1999 as it collapsed under an estimated $80 billion in debt; to 10 years in jail for embezzlement and fraud; in Seoul. Kim, who returned to the country to stand trial last year, was also ordered to forfeit more than $22 billion-a sum far exceeding his net worth. He will not begin serving his sentence for 12 months because of heart problems. Kim's lawyers say they plan to appeal...
...Rostov, 250 miles away, roasts them and then sells them in nearby towns. Today Kuznetsov Seed Co. has annual revenues of about $1 million. Kuznetsov drives a silver Renault Scenic SUV while his wife, who has stopped work to remodel their apartment, dodges potholes in her new lime green Daewoo. "You can never be optimistic about anything in our country because if you're optimistic, it will end badly," he says. But he credits Putin with instilling confidence in the market: "There is no alternative to him. Stability is important for business...