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Joint Venture

BUSINESS
January 24, 2005 | By Josh Goldstein INQUIRER STAFF WRITER
After having one potential buyer drop out several months ago, Chestnut Hill HealthCare has reached a deal to be acquired by a for-profit joint venture. Under the deal, the small, independent health system anchored by Chestnut Hill Hospital in northwestern Philadelphia would be bought by the joint venture formed by Community Health Systems Inc., of Brentwood, Tenn., and the University of Pennsylvania Health System for $25 million. The sale of Chestnut Hill, which must be approved by Philadelphia Orphans' Court and the Pennsylvania attorney general, is expected to be completed in March.
BUSINESS
May 4, 1994 | By Donna Shaw, INQUIRER STAFF WRITER Inquirer staff writer Rich Henson and Reuters contributed to this article
Eastman Kodak Co. yesterday confirmed the rumors: Its pharmaceutical and health-products subsidiary, Sterling Winthrop Inc., is for sale. The announcement raises the possibility that the European operations of Sterling Winthrop, whose American research headquarters is in Montgomery County, could end up with the same French owners as the former Pennwalt Corp., now Elf Atochem North America Inc., in Center City. A German suitor for Sterling Winthrop also came into the picture.
BUSINESS
November 22, 1994 | By Gail Shister, INQUIRER TELEVISION COLUMNIST
The dance is over, and Channel 10 is going home with NBC. Come next fall, Philadelphia channel surfers will find Seinfeld, Blossom and the Today show on Channel 10 (WCAU). Murphy Brown, 60 Minutes and Dr. Quinn, Medicine Woman will be on Channel 3 (KYW). Jay Leno and David Letterman will play musical channels, too. As part of a wide-ranging agreement announced yesterday, NBC and CBS will swap the stations they own in Philadelphia, the country's fourth-largest TV market, and Denver, the 21st.
BUSINESS
July 17, 2015 | By Andrew Maykuth, Inquirer Staff Writer
The chief operating officer of Philadelphia Energy Solutions Inc. resigned quietly in April, only 13 months after he was brought in to run the sprawling former Sunoco refinery in South Philadelphia, a filing with the U.S. Securities and Exchange Commission reveals. The company did not disclose in the filing this month the reason for David M. Ritter's termination as executive vice president. Ritter, in a telephone interview Wednesday, said he resigned for "personal reasons. " Chief executive officer Philip L. Rinaldi said Ritter departed on "friendly terms.
NEWS
January 22, 2016 | By Jacob Adelman, STAFF WRITER
Brandywine Realty Trust and Realen Properties Inc. are selling the 1000 Chesterbrook Boulevard office building, which they own as a joint venture, Douglas Rodio, a managing director at real estate services firm JLL, said Wednesday. The 172,327-square-foot, three-story building in Berwyn is 92 percent leased, with tenants including National Penn Bank and Wells Fargo, according to Rodio, a member of the JLL team marketing the property. Recent property sales by Brandywine include the IRS facility in the former 30th Street Main Post Office and the Laurel Corporate Center in South Jersey.
BUSINESS
October 25, 2015 | By Jacob Adelman, Inquirer Staff Writer
A joint venture between Young Capital and SSH Real Estate Investments has purchased a three-story office building in the Great Valley Corporate Center in Malvern for $7.27 million. The Philadelphia-based companies plan about $500,000 in improvements at the 48,686-square-foot Two Country View Road building, SSH Real Estate, which arranged the sale, said in a statement Friday. The building is 83 percent occupied with BB&T Bank and SunGard Business Systems as the anchor tenants, SSH said.
NEWS
August 28, 2015 | By Jacob Adelman, Inquirer Staff Writer
LaSalle Investment Management has purchased the newly constructed AQ Rittenhouse apartment building in Center City for $51.1 million, according to Newmark Grubb Knight Frank, which brokered the sale. The Chicago-based investment manager bought the 110-unit high-rise at 2021 Chestnut St. from a joint venture between Aquinas Realty Partners and MB1 Capital Partners, NGKF said in a statement on Wednesday. jadelman@phillynews.com 215-854-2615 @jacobadelman  
NEWS
July 4, 2012 | By Andrew Maykuth, Inquirer Staff Writer
Brian P. MacDonald, the son of a coal miner, grew up in a small town in Canada that was devastated by the deindustrialization of North America. "Our whole community got wiped out when we lost all of our coal mines, we lost our steel plant," said MacDonald, 46, who grew up in Glace Bay, Nova Scotia. "Our whole area basically got wiped out, and I saw it happen in my teenage years. " So when MacDonald became chief executive officer of Sunoco Inc. on March 1 and public officials begged him to save the company's 1,400-acre Philadelphia refinery complex from imminent closure, their pleas had a special resonance.
NEWS
May 21, 2015 | By Jacob Adelman, INQUIRER STAFF WRITER jadelman@phillynews.com 215-854-2615 @jacobadelman
New York-based Carey Watermark Investors plans a $21.3 million renovation of the Ritz-Carlton Philadelphia hotel after acquiring a majority interest in the property, the company said in a release. The renovation, to be done in a joint venture with previous full-owner Philadelphia Hospitality Partners, will cover the South Broad Street hotel's 299 guest rooms, lobby, ballroom and other spaces, Carey Watermark said. Work is due to be completed before the end of June 2016, the company said.
NEWS
September 7, 2011
Consol Energy Inc. announced Wednesday that it is entering into a joint venture with Hess Corp. to explore and develop Consol's 200,000 acres of Utica Shale in Ohio for natural gas. Consol will receive consideration of $593 million. The deal is the second big shale-gas transaction that Consol has announced in recent weeks. In August, the Canonsburg, Pa., company - best known as a coal producer - announced a $3.4 billion joint venture with Noble Energy Inc. to develop about 663,500 acres of Marcellus Shale leases in Pennsylvania and Ohio.
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