LONDON: The CMA has warned package holiday companies to respect the refund rights of holidaymakers ahead of the summer period. The Competition and Markets Authority (CMA) has published a further open letter to the sector and has also sent it directly to the 100 package travel firms with the most complaints about them. The letter…
NCC Group to acquire intellectual property management business of Iron Mountain for $220 million
LONDON: NCC Group plc (LON: NCC) signed an agreement for the proposed acquisition of the Intellectual Property Management business of Iron Mountain Inc. for a cash consideration of $220 million, a news release said. Intellectual Property Management business of Iron Mountain Inc. comprises substantially all of the assets of Iron Mountain Intellectual Property Management Inc….
Essentra Overseas to acquire 73% stake in Jiangxi Hengzhu for £11 million
LONDON: Essentra PLC (LON: ESNT) subsidiary Essentra Overseas Limited has signed an agreement to purchase the business of Jiangxi Hengzhu Electrical Cabinet Lock Co., Ltd via a newco, a news release said. Closing of this transaction is subject to customary conditions, including regulatory approval and incorporation of the newco, and is anticipated in Q3 2021….
Intertek Group to acquire SAI Global Assurance for cash consideration of A$855 million
LONDON: Intertek Group plc (LON: ITRK), has entered into an agreement to acquire SAI Global Assurance, a leading provider of assurance services. Intertek will acquire SAI Global Assurance for cash consideration of A$855m on a cash-free and debt-free basis. Intertek will finance the acquisition using new debt facilities. SAI Global Assurance is part of the…
Kurdistan reduces threshold of payments to oil companies to 20 percent
OSLO: Kurdistan’s Minister of Natural Resources has reduced the payment threshold of the withheld amounts to 20 percent from 50 percent earlier of incremental revenue above USD 50 per barrel. Kurdistan’s Minister of Natural Resources has informed the international oil companies operating in the region of an intention to extend the payment period for arrears…
Shareholder and shareholding
Shareholding in a company means owning shares of the company. A shareholder, also referred to as a stockholder, is a person, company, or institution that owns at least one share of a company’s stock, which is known as equity. Because shareholders are essentially owners in a company, they reap the benefits of a business’ success….
Share Buyback or Share Repurchase
A share buyback or share repurchase occurs when a business purchases its own shares and then either cancels them or holds them in treasury for re-issue at a later date. Share buybacks are good when the company’s management perceives that their shares may have been undervalued. Share buybacks also instill confidence among investors as it…
Danone SA finalizes €1.6 billion sale of 9.8% stake in China Mengniu Dairy
PARIS: Danone SA has finalized the strategic sale of approximately 9.8% stake in China Mengniu Dairy Company Limited, which was originally announced on May 12, 2021. The transaction resulted in total gross proceeds of HKD 15.4 billion, representing c. €1.6 billion. The settlement of the transaction will take place on May 17, 2021. In line…
SkyWest to purchase and operate eight E175 aircraft for Alaska Airlines
ST. GEORGE: SkyWest Inc. (NASDAQ: SKYW) announced an agreement with Alaska Airlines to purchase and operate eight E175 aircraft under a 12-year capacity purchase agreement. The aircraft will be purchased by SkyWest from Embraer and delivered new from the factory. SkyWest continues to be the largest owner/operator of the Embraer E175 aircraft in the world….
MinRex Resources appoints Pedro Kastellorizos as Chief Executive Officer
SYDNEY: MinRex Resources Limited (ASX: MRR) announced the appointment of Mr Pedro Kastellorizos as Chief Executive Officer (CEO) of the Company. Kastellorizos has been a professional geologist with over 24 years’ experience in the exploration, mining and the corporate sectors. He has worked within senior technical and executive board positions within Australia and London, with…
Chief Executive Officer (CEO)
A chief executive officer (CEO), chief administrator, or just chief executive (CE), is one of a number of corporate executives in charge of managing an organization – especially an independent legal entity such as a company or nonprofit institution. A chief executive officer (CEO) is the highest-ranking executive in a company, whose primary responsibilities include…
Rick Legleiter appointed Chief Executive Officer of Adherium Limited
MELBOURNE: Adherium Limited (ASX: ADR) has appointed Rick Legleiter as Chief Executive Officer of Adherium, a news release said. The Board also announced the appointment of George Baran as a Non-Executive Director. Mike Motion, Adherium’s current CEO and Executive Director, has made the decision to step down from the Board and CEO position for personal…