and Benetton Group SpA reached an agreement to make a fashion collection for girls under the Barbie brand. The new line called "Barbie Loves Benetton" will offer over 50 garments and accessories and will be available in stores in autumn, Treviso, Italy-based Benetton Group SpA said in a press release. The partnership agreement between El Segundo-based Mattel and Benetton extends to December 2006.
- SeeBeyond Technology Corp. announced that its board of directors approved a stock repurchase program of up to $10 million of common stock over the next 24 months. The stock repurchase program will be funded using the Monrovia-based company's working capital. As of March 31, SeeBeyond had nearly 85.8 million shares outstanding and $73.6 million in cash and cash equivalents.
- JPMorgan Chase & Co. is arranging nearly $3.2 billion in financing to help DaVita Inc. buy Gambro AB's U.S. clinics, Standard & Poor's Leveraged Commentary and Data reported today. The loan for the El Segundo-based provider of kidney dialysis will include a $2.65 billion seven-year term loan paying interest of 2 percentage points over the London interbank offered rate, and also a $250 million revolving credit facility and a $250 million term loan each paying a 1.75 percentage points margin, S & P; said. DaVita agreed to buy Swedish Gambro's U.S. clinics in December for $3.1 billion in cash.
- Regal One Corp. acquired a 10 percent interest in Nevada-based American Stem Cell Corp. (ASC). L.A.-based Regal One said it has the option to acquire additional equity in the company. Following regulatory approval, Regal One plans to issue a portion of its ASC shares as dividends to its nearly 600 shareholders. ASC will be relocating to Southern California following this investment, Regal One said in a press release.
- Northrop Grumman Corp. is considering whether to link up with the European Aeronautic, Defense & Space Co. to bid against Boeing Co. for a contract to supply aerial- refueling tankers to the U.S. Defense Department, the Wall Street Journal reported. Ronald Sugar, Northrop's chairman and CEO, met EADS executives at the European company's Toulouse, France, headquarters this week, to discuss a possible joint venture. No agreement between Northrop and EADS has yet been reached, the paper said.
- Parsons Corp. , a Pasadena-based engineering and construction management company, announced that it had acquired Alaris Group LLC, a San Francisco-based wireless telecommunications company.
The acquisition of Alaris, which operates its land use, construction and warehouse management applications from offices in San Francisco, Seattle, Irvine and Portland, is intended to bolster Parsons Commercial Technology Group Inc. Alaris was founded in 1999 to provide outsourced wireless development services and has 100 employees. Specific details of the acquisition were not released.
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