Divestment

1. Divestment https://store.theartofservice.com/the-divestment-toolkit.html

2. PepsiCo - Acquisitions and divestments • PepsiCo also previously owned several other brands that it later sold so it could focus on its primary snack food and beverage lines, according to investment analysts reporting on the divestments in 1997 https://store.theartofservice.com/the-divestment-toolkit.html

3. PepsiCo - Acquisitions and divestments • The divestments concluding in 1997 were followed by multiple large-scale acquisitions, as PepsiCo began to extend its operations beyond soft drinks and snack foods into other lines of foods and beverages. PepsiCo purchased the orange juice company Tropicana Products in 1998, and merged with Quaker Oats Company in 2001, adding with it the Gatorade sports drink line and other Quaker Oats brands such as Chewy Granola Bars and Aunt Jemima, among others. https://store.theartofservice.com/the-divestment-toolkit.html

4. PepsiCo - Acquisitions and divestments • In August 2009, PepsiCo made a $7 billion offer to acquire the two largest bottlers of its products in North America: Pepsi Bottling Group and PepsiAmericas https://store.theartofservice.com/the-divestment-toolkit.html

5. Elbit Systems - Divestment • On September 3, 2009, the The_Government_Pension_Fund_of_Norway#The_Ethical_Council|Norwegian Pension Fund's ethical council decided to sell the fund's stocks in Elbit due to the corporations supply of surveillance systems for the Israeli West Bank barrier https://store.theartofservice.com/the-divestment-toolkit.html

6. Elbit Systems - Divestment • In January 2010, Danske Bank added Elbit to the list of companies that fail its Socially Responsible Investment policy; a bank spokesman noted that it was acting in the interests of its customers by not 'placing their money in companies that violate international standards' https://store.theartofservice.com/the-divestment-toolkit.html

7. Elbit Systems - Divestment • In March 2010, a Swedish pension fund not wanting to be associated with companies violating international treaties, boycotted Elbit Systems for being involved in constructing the Israeli West Bank security fence. https://store.theartofservice.com/the-divestment-toolkit.html

8. Tele2 - Divestments • Tele2's most recent development has been to realign its geographic footprint towards Eastern Europe and the Nordic countries|Nordic region focusing on own infrastructure based operations which provide higher growth options and possibly better margins for the future. One area of notable success has been the growth of the mobile Internet broadband connectivity. Tele2 has achieved the most success in Russian market, with a customer base increasing by the hundreds of thousands yearly. https://store.theartofservice.com/the-divestment-toolkit.html

9. Tele2 - Divestments • In 2007 the company sold its holdings in Belgium to Dutch operator KPN, in France to SFR and activities in Spain and Italy to Vodafone Italy, in Portugal to Clix (ISP)|Clix and in Switzerland to TDC Sunrise https://store.theartofservice.com/the-divestment-toolkit.html

10. Tele2 - Divestments • Tele2 also tried to sell its German unit in 2007, although no sale actually took place. https://store.theartofservice.com/the-divestment-toolkit.html

11. Tele2 - Divestments • In 2005 they sold their UK Ireland fixed operations to the Carphone Warehouse for £8.7m. They also pulled out of the Finnish market stating problems with the competitive and regulatory environment after the Finnish government had previously cancelled their 3G licence, due to not completing a network in time. https://store.theartofservice.com/the-divestment-toolkit.html

12. Socially responsible investing - Divestment • Divestment|Divesting is the act of removing stocks from a portfolio based on mainly ethical, non-financial objections to certain business activities of a corporation. Recently, CalSTRS (California State Teachers' Retirement System) announced the removal of more than $237 million in tobacco holdings from its investment portfolio after 6 months of financial analysis and deliberations. https://store.theartofservice.com/the-divestment-toolkit.html

13. Statoil - Divestment • In early June 2011, Statoil ASA has divested 24.1% shares in Gassled joint venture for NOK 17.35 billion ($3.25 billion) to Solveig Gas Norway AS and still has 5% shares in the partnership. https://store.theartofservice.com/the-divestment-toolkit.html

14. Divestment • In finance and economics, 'divestment' or 'divestiture' is the reduction of some kind of asset for financial, ethical, or political objectives or sale of an existing business by a firm. A divestment is the opposite of an investment. https://store.theartofservice.com/the-divestment-toolkit.html

15. Divestment - Motives • Firms may have several motives for divestitures: https://store.theartofservice.com/the-divestment-toolkit.html

16. Divestment - Motives • *First, a firm may divest (sell) businesses that are not part of its core operations so that it can focus on what it does best. For example, Eastman Kodak, Ford Motor Company, Future Group and many other firms have sold various businesses that were not closely related to their core businesses. https://store.theartofservice.com/the-divestment-toolkit.html

17. Divestment - Motives • *A second motive for divestitures is to obtain funds. Divestitures generate funds for the firm because it is selling one of its businesses in exchange for cash. For example, CSX Corporation made divestitures to focus on its core railroad business and also to obtain funds so that it could pay off some of its existing debt. https://store.theartofservice.com/the-divestment-toolkit.html

18. Divestment - Motives • *A third motive for divesting is that a firm's break-up value is sometimes believed to be greater than the value of the firm as a whole. In other words, the sum of a firm's individual asset liquidation values exceeds the market value of the firm's combined assets. This encourages firms to sell off what would be worth more when liquidated than when retained. https://store.theartofservice.com/the-divestment-toolkit.html

19. Divestment - Motives • *A fourth motive to divest a part of a firm may be to create stability. Philips, for example, divested its chip division called NXP Semiconductors|NXP because the chip market was so volatile and unpredictable that NXP was responsible for the majority of Philips's stock fluctuations while it represented only a very small part of Philips NV. https://store.theartofservice.com/the-divestment-toolkit.html

20. Divestment - Motives • *A fifth motive for firms to divest a part of the company is that a division is under-performing or even failing. https://store.theartofservice.com/the-divestment-toolkit.html

21. Divestment - Motives • *A sixth reason to divest could be forced on to the firm by the regulatory authorities, for example in order to create competition. https://store.theartofservice.com/the-divestment-toolkit.html

22. Divestment - Motives • *A seventh reason is pressure from shareholders for social reasons (sometimes also called Disinvestment). Historical example: there was a movement to divest from companies who dealt with apartheid South Africa, see Disinvestment from South Africa. Recent examples: divestment from Global Climate Coalition members and fossil fuels (similar to boycott). https://store.theartofservice.com/the-divestment-toolkit.html

23. Divestment - Divestment for financial goals • Often the term is used as a means to grow financially in which a company sells off a business unit in order to focus their resources on a market it judges to be more profitable, or promising. Sometimes, such an action can be a Corporate spin-off|spin-off. (For the United States: Divestment of certain parts of a company can occur when required by the Federal Trade Commission before a merger with another firm is approved. A company can divest assets to wholly owned subsidiaries.) https://store.theartofservice.com/the-divestment-toolkit.html

24. Divestment - Divestment for financial goals • The largest, and likely most famous, corporate divestiture in history was the 1984 U.S. Department of Justice-mandated The break up of ATT|breakup of the Bell System into Old ATT|ATT and the seven Baby Bells. https://store.theartofservice.com/the-divestment-toolkit.html

25. Divestment - Method of divestment • Some firms are using technology to facilitate the process of divesting some divisions. They post the information about any division that they wish to sell on their website so that it is available to any firm that may be interested in buying the division. For example, Alcoa has established an online showroom of the divisions that are for sale. By communicating the information online, Alcoa has reduced its hotel, travel, and meeting expenses. https://store.theartofservice.com/the-divestment-toolkit.html

26. Divestment - Method of divestment • With Economic liberalization of the Indian economy, Ministry_of_Finance_(India)#Department_of_Disinvestments|Ministry of Finance of India had set up a separate Ministry_of_Finance_(India)#Department_of_Disinvestments|Department of Disinvestments. https://store.theartofservice.com/the-divestment-toolkit.html

27. Divestment - Divestment campaigns • The term Divestment Campaign was first used in the 1980s, most commonly in the United States, to refer to the use of a concerted economic boycott designed to pressure the government of South Africa into abolishing its policy of apartheid. Since then, divestment campaigns have focused on countries and companies for their policies. https://store.theartofservice.com/the-divestment-toolkit.html

28. Divestment - Divestment campaigns • Major Companies targeted through divestment campaigns in the United States have included: https://store.theartofservice.com/the-divestment-toolkit.html

29. Divestment - Divestment campaigns • * Tobacco industry http://www.ashscotland.org.uk/ash/4419.htmlhttp://www.macalester.edu/weekly/Archive/10-17-96/news/tobacco.html https://store.theartofservice.com/the-divestment-toolkit.html

30. Divestment - Divestment campaigns • * Arms trade http://www.stopwar.org.uk/index.php?option=com_contenttask=viewid=370Itemid=115http://www.labournet.net/other/0710/lccawar1.html https://store.theartofservice.com/the-divestment-toolkit.html

31. Divestment - Divestment campaigns • * Global Climate Coalition members - Ford, General Motors, Texaco, Southern Company, Exxon, and other corporate members of the Global Climate Coalition -- an industry group opposing the Kyoto Protocol -- were the target of a national divestment campaign run by Ozone Action in 2000 https://store.theartofservice.com/the-divestment-toolkit.html

32. Divestment - Divestment campaigns • * Fossil fuels industry http://gofossilfree.org/http://www.wearepowershift.org/campaigns/divestcoal https://store.theartofservice.com/the-divestment-toolkit.html

33. Lloyds Banking Group - Verde Divestment • The UK Government's purchase of a 43.4% stake in the group in 2009 was considered as state aid; under European Commission competition laws, the group would be required to sell a portion of its business.[http://webcasts.lloydsbankinggroup.com/capitalraising/files/FINAL_-_Analyst_Presentation.pdf Rights Issue and Capital Enhancement Proposals] Presentations and Webcasts, Lloyds Banking Group, 3 November 2009 The group's divestment plancodenamed Verdeidentified 632 branches which would be transferred to a new business https://store.theartofservice.com/the-divestment-toolkit.html

34. Lloyds Banking Group - Verde Divestment • Lloyds Banking Group reached a Heads of Terms agreement in July 2012 to sell the Verde branches to The Co-operative Bank for £750million https://store.theartofservice.com/the-divestment-toolkit.html

35. ING Group - Latin American divestment • In July 2011, ING divested all its Latin American insurance operations to the Colombian insurance group Grupo Empresarial Antioqueño|GrupoSura for US$3.85billion, excluding ING's 36 percent holding in Brazilian insurer Sul America which will be sold at a later date https://store.theartofservice.com/the-divestment-toolkit.html

36. ING Group - Latin American divestment • The actions are in line with EU demands to split the Group's banking and insurance operations as a condition of Netherlands|Dutch state aid (see below). https://store.theartofservice.com/the-divestment-toolkit.html

37. Lehman Brothers - Divestment and independence (1994–2008) • In 1993, under newly appointed CEO, Harvey Golub, American Express began to divest itself of its banking and brokerage operations. It sold its retail brokerage and asset management operations to Primerica Financial Services|Primerica and in 1994 it spun off Lehman Brothers Kuhn Loeb in an initial public offering, as Lehman Brothers Holdings, Inc.Geisst, Charles R. The Last Partnerships. McGraw-Hill, 1997, page 79 https://store.theartofservice.com/the-divestment-toolkit.html

38. Lehman Brothers - Divestment and independence (1994–2008) • Despite rumors that it would be acquired again, Lehman performed quite well under Chairman and CEO Richard S https://store.theartofservice.com/the-divestment-toolkit.html

39. Lehman Brothers - Divestment and independence (1994–2008) • Fuld had a succession of number twos under him, usually titled as President and Chief Operating Officer https://store.theartofservice.com/the-divestment-toolkit.html

40. Lehman Brothers - Divestment and independence (1994–2008) • In 2001, the firm acquired the private-client services, or PCS, business of Cowen Group|Cowen Co https://store.theartofservice.com/the-divestment-toolkit.html

41. Lehman Brothers - Divestment and independence (1994–2008) • * Deal of the Year – Equity Market Deal of the Year https://store.theartofservice.com/the-divestment-toolkit.html

42. Carbon bubble - Divestment campaigning • The ongoing fossil fuels Divestment campaign in universities, churches[http://www.nytimes.com/2013/07/04/us/church-dropping-fossil-fuel-investments.html Church Dropping Fossil Fuel Investments], The New York Times, 3 July 2013 and pension funds[http://www.publications.parliament.uk/pa/cm201314/cmselect/cmenvaud/uc191-i/uc19101.htm Oral Evidence Taken before the Environmental Audit Committee], House of Commons Environmental Audit Committee, 26 June 2013 may contribute to increasing interest in divesting from fossil fuel companies.[http://www.abc.net.au/environment/articles/2013/05/13/3751205.htm Preventing a carbon bubble crash], ABS, 13 May 2013[http://www.renewableenergyworld.com/rea/news/article/2013/05/the-economic-case-for-divesting-from-fossil-fuels?page=all The Economic Case for Divesting from Fossil Fuels], Renewable Energy World, 15 May 2013 https://store.theartofservice.com/the-divestment-toolkit.html

43. Natwest - Divestment • In 2008, it was announced that HM Government would take a stake of up to 58% in the Royal Bank of Scotland in a move aimed at recapitalising the Group https://store.theartofservice.com/the-divestment-toolkit.html

44. Natwest - Divestment • In 2009 the RBS Group announced that it would divest all 311 RBS branches in England and Wales (until 1985, known as Williams and Glyn's) together with the seven NatWest branches in Scotland as a standalone business, to comply with European Commission state aid requirements.[http://www.natwest.com/personal/scottish-branch-sale.ashx Scottish Branch Sale] National Westminster Bank https://store.theartofservice.com/the-divestment-toolkit.html

45. Alan Dershowitz - Harvard-MIT divestment petition • [http://www.thecrimson.com/article.aspx?ref=254491 Dershowitz: Divestment Petitioners Are 'Bigots,'] The Harvard Crimson October 8, 2002, accessed November 20, 2010. https://store.theartofservice.com/the-divestment-toolkit.html

46. Lloyds TSB - Divestment and return to Lloyds Bank • After the 2008 rescue of HBOS,[http://www.oft.gov.uk/shared_oft/press_release_attachments/LLloydstsb.pdf Anticipated acquisition by Lloyds TSB Group Plc of HBOS Plc] Office of Fair Trading, 24 October 2008 Lloyds TSB Group was renamed Lloyds Banking Group.[http://www.mediacentre.lloydstsb.com/media/pdf_irmc/mc/press_releases/2009/January/1409pressrelease.pdf?WT.ac=MHPLNCON Change of Company Name] RNS Announcements, Lloyds TSB Group, 16 January 2009 In 2009, following the 2008 United Kingdom bank rescue package|liquidity crisis, HM Government took a 43.4% stake in Lloyds Banking Group https://store.theartofservice.com/the-divestment-toolkit.html

47. Lloyds TSB - Divestment and return to Lloyds Bank • On 24 April 2013, it was confirmed that a number of Lloyds TSB branches in England and Wales would be combined with the branches of Cheltenham Gloucester and the business of Lloyds TSB Scotland to form a new bank operating under the TSB Bank (United Kingdom)|TSB brand and divested by the group https://store.theartofservice.com/the-divestment-toolkit.html

48. Lloyds TSB - Divestment of government-owned shares • Based on figures from the National Audit Office (United Kingdom)|National Audit Office, George Osborne's sale of a 6% tranche of Lloyds shares in autumn 2013—despite his claims that the sale had netted a profit—worked out at a loss of at least £230m for UK taxpayers. https://store.theartofservice.com/the-divestment-toolkit.html

49. Conrad Black - Growth and divestment of press holdings • In 1985, Andrew Knight, then editor of The Economist, asked Black to invest in the ailing The Daily Telegraph|Telegraph Group, and Black was able to gain control of the Group for £30 million https://store.theartofservice.com/the-divestment-toolkit.html

50. Conrad Black - Growth and divestment of press holdings • Hollinger bought a 23% stake in the Southam newspaper chain in 1992 and acquired the Chicago Sun-Times in 1994 https://store.theartofservice.com/the-divestment-toolkit.html