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But it says Messrs Timchenko and Tornqvist "had been in talks about a divestiture for a while prior to the actual sale", in part because of strategic differences.
In Wisconsin, for instance, the Nature Conservancy and the Department of Natural Resources negotiated an agreement under which investors bought 101 square miles of land from International Paper as part of that company's big woodlands divestiture earlier this year.
Which is why TVA bonds took a hit when Mr Obama's budget, released on April 10th, suggested "the possible divestiture of TVA, in part or as a whole".The budget says that "reducing or eliminating the federal government's role in programmes such as TVA, which have achieved their original objectives and no longer require federal participation, can help put the nation on a sustainable fiscal path".
Divestiture would also free the TVA to raise more capital than the $30 billion debt cap allows though, as the bond spike earlier this month hinted, it would probably pay steeper interest rates.It is hard to argue that the TVA still needs federal support.
Radical surgery would need to wait for the willing participation of BolsWessanen's management.Disposals will generate cash following gains from this year's divestiture of drinks and a few small sales last year, such as a Dutch confectioner.
It is one of the few African countries praised by the World Bank, the International Monetary Fund, and the international financial community for its economic policies of government divestiture and privatization and currency reform.
Textron also developed a policy of selling weak divisions, which led to the divestiture of its last textile holding in 1963.
It also sold 50 percent of Union Texas (and its remaining interest in 1992), and in 1986 it completed the divestiture of 35 of its diverse subsidiary operations, permitting it to concentrate on its growing aerospace, electronics, and automotive operations.
The company was originally procured to ensure a supply of raw materials for Allied's chemical products, but by 1979, after Allied's divestiture of unprofitable chemical divisions, Union Texas accounted for 80 percent of its parent company's income.
Its chief executive Kazuo Hirai said he has not ruled out a divestiture of that business.
I want to add one other major transaction to that, which is the Verizon-SpectrumCo transaction, where we insisted on the very large divestiture of spectrum to T-Mobile before approving.
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The word "divestiture" functions primarily as a noun . It denotes the act of selling off a business operation or asset , often a subsidiary. It is used to describe this specific action in financial or strategic contexts, as seen in Ludwig's examples from news and encyclopedias.
Expression frequency: Very common
