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Oil Supplier Appeals Conoco's Right To Buy Stake In Refinery Unit
2015-09-30 02:11:01| Oil & Gas - Topix.net
In a long-standing dispute between Venezuelan state-owned Oil Company Petroleos de Venezuela SA and ConocoPhillips, a New York district court judge upheld ConocoPhillips' acquisition of a 50% stake in a Texas refinery. The two parties were former joint partners in an oil refining operation but disagreements between them led to the triggering of a contract provision that automatically dissolved the joint venture.
EBRD acquires stake in Turkeys Global Ports Holding
2015-09-30 01:00:00| Ship Technology
The European Bank for Reconstruction and Development (EBRD) has signed an agreement to acquire a minority stake in Turkish port operator Global Ports Holding (GPH).
Tags: global
holding
ports
stake
Yahoo will sell Alibaba stake despite IRS tax stance
2015-09-29 08:50:00| Telecompaper Headlines
(Telecompaper) Yahoo said it plans to move forward with the sale of its stake in Alibaba Group even though the IRS has declined to rule on whether the transaction would be tax free, Reuters reported. Yahoo said earlier this month that the IRS had denied its request for a private letter ruling on whether the spinoff of its stake in Alibaba would be considered tax free. The sale is still subject to certain other conditions including the receipt of a legal opinion on the tax-free treatment of the deal under US federal tax laws, Yahoo said in a regulatory filing. Based on Alibaba's close on 28 September of USD 59.24 per share, Yahoo's 384 million shares in the e-commerce company are worth USD 22.75 billion. The value of the stake is slightly less than Yahoo's market capitalization of about USD 25.98 billion based on 941 million shares outstanding on 31 July and the close on 28 September. Many analysts say Yahoo's core business is worth close to nothing without its Asian assets.
Caledonia Investments sells stake in TGE Marine for A 78.7m cash
2015-09-28 12:23:24| Trucking - Topix.net
Caledonia Investments has entered into a binding agreement for the sale of its stake in TGE Marine to MES Germany Beteiligungs, a wholly-owned subsidiary of Mitsui Engineering & Shipbuilding Co, for 106.9m, or A 78.7m in cash. The investment vehicle said the payment for its 67.9% stake in TGE will be made in cash, together with a pre-transaction dividend received of 7.5m, delivering total proceeds of 114.5m, or A 84.1m.
Tags: cash
marine
investments
sells
Siminn offers 18-21% stake in IPO from 05-07 October
2015-09-28 12:14:00| Telecompaper Headlines
(Telecompaper) Icelandic operator Siminn said Arion Bank will be offering an 18 to 21 percent stake in Siminn to the public from 05 to 07 October. The size of the offering will be between ISK 4.7 billion and ISK 5.5 billion with a share price of ISK 2.7 per. The shares ar expected to start trading on the Nasdaq Iceland main market on 15 October.
Tags: october
offers
ipo
stake
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