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June 3, 2016

Bechtel names 35-year-old as new chief executive; Family behind Market Basket grocery chain back in court; and South Korean court rules against Samsung merger suit 

Bechtel names 35-year-old as new chief executive

Bechtel Corporation, one of the largest family businesses in the US, has named fifth-generation Brendan Bechtel as its new chief executive.

The 35-year-old will replace Bill Dudley, who became the first non-family CEO to run the business after Brendan’s father, Riley Bechtel, was diagnosed with Parkinson’s disease two years ago.

May 27, 2016

Banque Havilland expands into Switzerland; Hotel Lotte to launch $4.8 billion IPO next month; Family feud spills into public eye at Aldi

Banque Havilland expands into Switzerland

Luxembourg-based Banque Havilland, established in 2009 by the Rowland family, has expanded its ultra-high net worth client base in Europe with the acquisition of Switzerland's Banque Pasche SA. 

According to a press release, Banque Pasche SA will be renamed Banque Havilland (Suisse) SA. 

May 20, 2016

Heineken set to announce $146m F1 sponsorship deal; Lotte founder refuses mental competence evaluation; and Berkshire Hathaway buys stake in Apple

Heineken set to announce $146m F1 sponsorship deal

Dutch family brewer Heineken, owned by the eponymous family, is rumoured to have agreed to a new $146 million sponsorship deal with Formula One following a sensational win by Dutch racer Max Verstappen last week.

At the Spanish Grand Prix in Barcelona, 18-year-old Verstappen became the youngest winner in F1 history at the Spanish Grand Prix and has been tipped as a future world champion, sparking the interest of the Dutch brewer.

May 13, 2016

Maersk Line posts huge fall in profit; Three’s takeover of O2 blocked by EU; and Comcast pays founder's widow $490 million to settle

Maersk Line posts huge fall in profit

Danish shipping company Maersk Line, owned by the McKinney-Moeller family, reported a 94.9% drop in profits to $37 million its first quarter, compared to the same period in 2015.

According to the Danish shipping giant, revenue for the first quarter was $4.97 billion, which equates to 20.5% fall over last year.

May 6, 2016

Reckitt Benckiser CEO apologises for steriliser scandal; Kinnevik drops representatives from Rocket Internet; and Sumner Redstone trial to open with video

Reckitt Benckiser CEO apologises for steriliser scandal

Rakesh Kapoor, the non-family chief executive of British multinational consumer goods company Reckitt Benckiser, has apologised for the sale of deadly disinfectants linked to fatal lung injuries in South Korea.

The apology came in the same week as Reckitt shareholders protested the chief executive’s £23.2 million ($33.6 million) pay package.

April 29, 2016

Nintendo misses profit forecast; Red Rock Resorts raises $531 million in IPO; and Bouygues CEO to unveil succession plan

Nintendo misses profit forecast

Japanese video game maker Nintendo, owned by the sixth generation of the Yamauchi family, report net profit fell 60.6% in 2015 to ¥16.51 billion ($139.5 million), as consumers reined in spending ahead of its new console launch.

The Kyoto-based videogame maker added that its digital sales netted ¥44 billion in the same period, which is up from ¥31 billion, highlighting to investors that last year’s move into the smartphone gaming market is likely to prove fruitful.

April 29, 2016

Two more of Europe’s family-owned car makers could become caught up in the emissions scandal that has engulfed Volkswagen.

Two more of Europe’s family-owned car makers could become caught up in the emissions scandal that has engulfed Volkswagen.

Offices at PSA Group, which owns Peugeot and Citroen, have been raided, while tests on a Fiat model have suggested it might be programmed to deactivate pollutant controls outside test conditions.

April 22, 2016

Peroni and Grolsch sold to smooth AB Inbev and SABMiller deal; Primark profits hampered by strong dollar; and Volkswagen agrees to buy back 600,000 US vehicles

Peroni and Grolsch sold to smooth AB Inbev and SABMiller deal

Family-controlled brewer AB InBev, which has been shedding assets to win regulatory approval for a takeover of SABMiller, has agreed to a €2.55 billion ($2. 87 billion) deal to sell European lager brands Peroni and Grolsch.

Japanese brewer Asahi will buy the lager brands in the UK and Europe, as well as London’s Meantime brewery, which is being put up for sale to help ease regulatory concerns over its £71 billion ($102 billion) takeover of SABMiller.

April 15, 2016

Bollore Group raided over west Africa port concessions; Marriott and Starwood join hands in blockbuster hotel deal; and Sika board limits Burkard family vote

Bollore Group raided over west Africa port concessions

French authorities have searched the headquarters of Bollore Group in Paris as part of an investigation into alleged port concessions it received in West Africa.

The investigation is looking into a possible relationship between Bollore Group, headed by seventh-gen Vincent Bollore, and Francis Perez, the president of casino and hotel group Pefaco.

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