Kolkata: ITC chairman Sanjiv Puri did not rule out the possibility of restructuring the company or buyback of shares to unlock shareholders value at the annual general meeting (AGM) of the conglomerate on Friday.Puri also made it clear that he is keen to see that the new FMCG brands of tobacco-to-FMCG-to-hotel major make significant international…
4th September, 2020 by Rupert Millar Berry Bros & Rudd has announced that following an internal review it will be changing the trade and business model of its wholesale arm Fields, Morris & Verdin. Over the course of this week several other merchants have announced the addition of former FMV-distributed wineries to their own portfolios.…
UK carrier Virgin Atlantic is to cut a further 1,150 jobs after formally securing court approvals for a restructuring plan which will unlock 1.2 billion ($1.6 billion) worth of refinancing. The fresh cuts reflect the continued challenges in restoring international air travel amid the global pandemic, in particular the key transatlantic market, which represents around…
Renault has detailed a plan to revive its fortunes by restructuring the business around four core pillars. One of them is Alpine, which has a new brand boss and a secure future after months of speculation. The new strategy is being deployed by the groups new boss, ex-Seat CEO Luca de Meo. The four core…
In Re PT MNC Investama TBK [2020] SGHC 149, the Singapore High Court provided guidance as to what is sufficient for a foreign company to establish standing to avail itself to the Singapore restructuring regime. Specifically, the factors expressed in the “substantial connection” test under the IRDA1are non-exhaustive and courts will consider other factors involving…
Electric vehicle start-up e.GO Mobile has taken advice from White & Case on a successful restructurin… Electric vehicle start-up e.GO Mobile has taken advice from White & Case on a successful restructuring of its business. With Aprils onset, Aachen, Germany-headquartered e.GO filed an application for personal insolvency procedures under self-administration. e.GO then filed for insolvency…
The company said its board approved to explore various structures for streamlining the businesses currently being carried out by different group entities TopicsBuzzing stocks|Gateway Distriparks|Markets SI Reporter | Mumbai Last Updated at September 3, 2020 13:02 IST Shares of Gateway Distriparks (GDL) moved higher by 15 per cent to Rs 108.20 on the BSE on…
By RNZ New Zealand Steel is to restructure its business with the likely loss of up to 200 jobs, but maintain steelmaking at its Glenbrook mill. The Australian owner of the mill, Bluescope, signalled in May it was reviewing the future of the loss-making business because it was not paying its way. Chief executive Gretta…
Photo courtesy of FSGBy The Maritime Executive 09-02-2020 04:29:23 Germanys smaller shipbuilder Flensburger Schiffbau-Gesellschaft (FSG), which in recent years has specialized in ro-ros and ferries, took a key step forward with its restructuring. The purchase agreement for the assets of the shipyard along with 350 of its employees was completed by investment companies belonging to…
A thorough debt restructuring process awaits several Dutch companies As the economic downturn ensues, more companies are struggling to meet their financial obligations whilst lenders are seeking alternatives to secure their outstanding financial claims. In this article, the authors will reiterate some of the recent short-term Dutch tax measures to improve tax liquidity, which may…