Enbridge Inc. announced a restructuring plan Thursday that would see it offer $11.4 billion in shares to co-investors in four affiliated businesses, in order to offset risks caused by the loss of a U.S. tax allowance for certain interstate pipelines. If the series of transactions unfold as anticipated, investors in all the companies and limited…
May 17th, 2018 Jason Jiang Asia, Offshore 0 comments Singapore offshore vessel operator Pacific Radiance has announced its intention to pursue a restructuring through the courts via a scheme of arrangement. In order to preserve the proposed restructuring, Pacific Radiances wholly owned unit Pacific Crest had made applications to…
Jonathan Eley and Naomi Rovnick in London May 17, 2018 Print this page Struggling childrens goods retailer Mothercare has become the latest UK high street chain to agree a lifeline deal with its creditors as the consumer downturn and the rise of online commerce piles the pressure on traditional shops. Following similar moves by floorings…
Cisco Systems Inc. shares slipped in extended trading after the network-equipment makers fourth-quarter forecasts fell short of Wall Streets most optimistic projections. Before the company provided its outlook for the current period, the stock had surged 32 percent in a year, last week reaching the highest price in more than 17 years. While Cisco said…
Groundwater being pumped from a highland aquifer, only to be whisked away in tankers and sold in little plastic bottles by a multinational corporation it’s a difficult concept for a small farming town to swallow. Just ask the residents of Stanley, Victoria, whose four-year court battle to stop a farmer bottling local groundwater for…
One of the largest valuation service providers in the world, Duff and Phelps is looking to expand its offerings in India. Mumbai: Duff and Phelps Corp., the US-based advisory firm, is setting up its restructuring practice in India, leveraging the business opportunities the Insolvency and Bankruptcy Code (IBC) has opened up for restructuring advisors. One…
Two influential proxy advisory firms have thrown their support behind Elliott Management Corp.s opposition of an $8.8 billion deal between two Hyundai Motor Group units, signaling more hurdles for an overhaul that may help the founding familys patriarch pass control of the South Korean conglomerate to his son. Glass Lewis & Co. and Institutional Shareholder…
GERMANTOWN, Md., May 15, 2018 (GLOBE NEWSWIRE) — Neuralstem, Inc. (Nasdaq:CUR), a biopharmaceutical company focused on the development of nervous system therapies based on its neural stem cell technology, provides a business update and reported its financial results for the first quarter ended March 31, 2018 . We remain committed to the development of NSI-566,…
Outgoing deputy CE of Absa, David Hodnett. Photo: Barclays The deputy head of Absa has resigned midway through a two-month sabbatical. David Hodnett saw his position as head of SA banking basically disappear as part of a restructuring. The market did not like his resignation, which one analyst blamed on a disagreement about strategic direction.…
Tesla shares were down nearly 1.6 percent in afternoon trading Monday. On a recent conference call, Musk warned the electric car maker would make some changes to improve its financial health. Tesla has been burning through billions in cash, and some analysts think the company will need to raise capital again by early 2019. “We…