LONDON: Grainger plc (LON: GRI) has agreed to forward fund and acquire a 259-home build to rent development in Derby for c.£37.4m, with St James Securities. The scheme is part of St James Securities wider mixed-use regeneration of the Becketwell area in Derby city centre. GMI Construction Limited has been appointed as the contractor. Grainger…
Alphawave IP prices its initial public offering at 410 pence per share
LONDON: Alphawave IP announced the successful pricing of its initial public offering at 410 pence per Share. Based on the Offer Price, Alphawave IP’s market capitalisation (on a fully diluted basis) will be approximately £3.1 billion at the commencement of conditional dealings on the main market of the London Stock Exchange. John Lofton Holt, Executive…
CMA warns package travel firms over refunds ahead of summer trips
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…