Daily Archives: April 23, 2018

Thomas Cook India gets board nod for corporate restructuring – Moneycontrol.com

Thomas Cook (India) today said its board has approved corporate restructuring, subject to regulatory approvals, through composite scheme of arrangement and amalgamation, aimed at streamlining its businesses into four key verticals. The verticals include, travel (outbound, domestic, business travel and MICE), foreign exchange, destination management services and portfolio investments such as Sterling Holiday Resorts, the…

Elliott Advisors calls for broad Hyundai restructuring – Financial Times

Peter Campbell, Motor Industry Correspondent in London April 23, 2018 Print this page Hyundai should carry out a fundamental restructuring, appoint fresh board members and significantly increase dividends, Elliott Advisors has said under a proposed plan to bring much needed improvements to the Korean carmaker. The activist fund run by Paul Singer declared a $1bn…

Capita shares jump as it unveils plans to raise £701m from shareholders to restructure – The Independent

Outsourcing group Capitas shares rose at the open despite the firm reporting widening losses as it unveiled plans to raise £701m to fund a restructure. The company, which carries out disability benefit assessments on behalf of the government and also runs the London congestion charge scheme, posted a 4 per cent drop in revenue to £4.12bn…

Capita launches £701m fundraising after losses worsen – Financial Times

Outsourcer Capita has launched a £701m fundraising after announcing a £513m loss for last year, as its tries to recover from a series of reputation-damaging contract bungles and repair its balance sheet. The company, which provides a range of public services from collecting the BBC licence fee to recruiting for the British army, is issuing…