Issued yearly издаваемый раз в год

13. Read the texts paying special attention to new words and word-combinations:

_Ю

1, South Korea's second largest vehicle maker, and Ford Motor Credit, unit of Ford of the US, have established a joint venture car finance company for Korean buyers. Kia Ford Credit Finance has an initial paid-in capital of Won33.3bn ($44m) which will be increased yearly. The venture will be launched on January 1, 19% in Seoul, with plans to expand nationwide. The car financing venture will not limit itself to financing Kia and Ford car buyers.

_S

hareholders of TSB Group approved the bank's merger with Lloyds Bank, and the change of name of their company to Lloyds TSB Group. The merger is expected to take effect from December 28, 1995. The shareholders also voted to allow TSB directors to make arrangements for Lloyds Bank share option holders to be given options over Lloyds TSB shares.

HPhe demerger of the US healthcare group Baxter International is in A several ways a classic of me genre. First, Baxter is splitting off the manufacturing and distribution activities.

Second, it is unpicking a decade-old merger with its larger rival American Hospital Supplies, which was largely designed to bring manufacturing and distribution together. It might also seem curious that only two years ago, Baxter carefully considered demerging the business and decided against it The impression remains that Baxter's demerger is very much in line with die prevailing fashion: take a vertically integrated business and pick it apart, with a view to possible horizontal merger with fresh partners.

В

anco di Napoli, the troubled Italian bank, intends to sell or close chronically loss-making Italian branches, while unproductive foreign

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branches will be disposed of or turned into representative offices.

_C

ordis, the US maker of cardiology equipment and other medical devices, agreed to a takeover by Johnson and Johnson in a deal valued at about $1.8bn. Under the terms of the agreement, Cordis would keep its Miami, Florida headquarters and its name.

_S

ale of the first six months of 1995 rose to FF26.95 billion, showing an increase of 22.8 per cent The growth can be attributed to a 20.6 per cent increase arising fiom changes in structure, in particular the consolidation of four new subsidiaries into the group.

14. Answer the following questions:

223. What is the main idea of setting up a joint-venture that is to be launched in Seoul?

224. Will the car financing venture limit itself to financing Kia and Ford car buyers only?

225. What did the shareholders of TSB Group approve?

226. Why is the demerger of the US healthcare group 'Baxter International' a classic of the genre?

227. What is curious in that demerger?

228. What does 'Banco de Napoli' intend to do with its branches?

229. What did Cordis company agree to?

230. What are the terms of the agreement?

231. Where from did the increase in sales arise?

IS. Give English equivalents to words and word-combinations. Make up your own sentences using them.

232. Второй по величине.

233. Начальный капитал.

234. Создать совместное предприятие.

235. Совместное предприятие начнет работу 1 января.

236. По всей стране.

237. Ограничить себя.

238. Финансирование покупателей автомобилей.

239. Одобрить слияние банков.

240. Ожидается, что слияние произойдет очень скоро, несмотря на оптимистичные прогнозы некоторых аналитиков.

241. Акционеры проголосовали.

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