China’s Wang Jianlin buys 20% stake

Atletico Madrid CEO Miguel Angel Gil, Wanda Group Chairman Wang Jianlin and Atletico Madrid President Enrique Cerezo

Chinese billionaire Wang Jianlin is buying a 20% stake in Spanish football club Atletico Madrid for €45m ($52m; £34m) as he looks to diversify his business empire further. This includes US cinema chain AMC and luxury British yachtmaker Sunseeker. It will be the first Chinese company to invest in a top European football club. Who is Wang Jianlin?
The 60-year-old is ranked China’s second-richest man behind Alibaba boss Jack Ma
He is worth $13.2bn according to Forbes magazine
Mr Wang is planning to open up amusement parks in China to rival the likes of Walt Disney and Universal Studios
He was reportedly in talks over a stake in the Hollywood studio behind the Hunger Games franchise, Lions Gate Entertainment.

 

Billboard Names Beyoncé the Most Defining Artist of last 5 yrs


The accomplishment is due in part to her Super Bowl performance and mini-Destiny’s Child reunion in 2013, her co-headlining On The Run tour with rapper husband Jay Z last summer and the surprise release of her self-titled 2013 album, which editors have deemed an “instant-classic.”
Hailing the superstar, they conclude, “Nobody’s perfect, but Beyonce is just about as flawless as they come – and in the 2010s, the rest of the music world was simply trying (and failing) to keep up with her.”
Kanye West ranked second on the list, followed by Adele, Taylor Swift and Drake, who round out the top five, respectively.
Others making the top 10 include Lady Gaga, Nicki Minaj and this year’s Super Bowl headliner Katy Perry.

 

Schlumberger buys $1.7bn stake in Russia’s biggest driller

Despite sanctions, Schlumberger Ltd, the world’s largest oilfield services company, will acquire a 45.65 percent stake in the Russian Eurasia Drilling Company for approximately $1.7 billion. The value of each share of Eurasia Drilling,Russia’s biggest driller,is estimated at $22. The agreement gives Schlumberger an option to buy the rest of the company’s shares three years after the deal closes, Schlumberger said in a statementTuesday. The deal also includes the London Stock Exchange delisting of a Russian driller. This comes at a time when the slump in oil prices is triggering consolidation in the industry, as firms seek to cut costs. Schlumberger is working with a number of Russian oil companies and the latest deal has put aside the concerns about what impact the US sanctions could have on its work in Russia. In September 2014 Schlumberger said it would withdraw American and European personnel from Russia as the West imposed sanctions against the country. Schlumberger, based in Houston and Paris, is the world’s largest service company in the field of oil and gas. It provides a wide range of services, from prospecting and exploration to supplying specialized software. The company has more than 40 production and research centers in Russia.

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