Godfrey Phillips India Ltd has announced that the Board of Directors of the Company at its meeting held on January 31, 2016, authorized the Company to engage the services of a merchant banker and/or other advisors in order to undertake such analysis and study as may be appropriate and advise the Company in respect of…
A consortium of lenders led by Bank of India and State Bank of India (SBI) is considering strategic debt restructuring (SDR) of liquor major Tilaknagar Industries. According to sources, the decision was taken at a high-level meeting of lenders in the city last week. Besides Bank of India and SBI, Punjab National…
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Nene gave go-ahead to restructuring plan, SARS says by Natasha Marrian and Linda Ensor, 2016-01-29 15:27:35.0 FORMER finance minister Nhlanhla Nene had approved restructuring plans at the South African Revenue Service, the tax agency said on Friday. In a statement, SARS said there was “nothing illegal” about the review, and the process had been approved…
Its been on an uptrend for five years. Redundancies rose amidst business restructuring in 4Q15, according to a report by the Ministry of Manpower (MOM). There were 4,200 workers laid off during the quarter, which is higher than 4Q14s 3,910. Redundancies climbed to 14,400 in the whole of 2015, continuing an uptrend since 2010. MOM…
The Gujarat State Petroleum Corporation Limited (GSPC) is restructuring its business to improve its credit profile. According to the scheme, GSPC will hive-off its participating interest in the Krishna-Godavari Deen Dayal West (KG-DDW) block and its related assets and liabilities to GSPC Offshore. The remainder of GSPC’s businesses (including exploration and production…
A group of nine investors — mostly foreign private equity players which together hold about 20 per cent stake in the National Stock Exchange of India (NSE) — have written to the Securities and Exchange Board of India (Sebi) to apprise it about the shareholders’ opposition to the exchange’s restructuring plan. This follows…
China Cinda Asset Management Co., a Chinese state-owned asset-management company, has conducted due diligence on possible participation in restructuring the debt of Yingli Green Energy Holding Co., once the worlds biggest solar-panel maker. Cinda is interested in participating in the debt reorganization because it sees potential in Yinglis solar business, according to two people familiar with the…
Wednesday, 27 January 2016, 9:05 amArticle: BusinessDesk Smiths City drops low margin business in restructure By Sophie Boot Jan. 26 (BusinessDesk) – Smiths City Group will compete more aggressively for market share after ditching low-margin business in an overhaul of its operations aimed at fattening returns. Since embarking on a strategic review of the business…