Abraaj Groups founder Arif Naqvi will cede control of the fund management business in what he said was a planned restructuring of the private equity firm accelerated by reports of misused funds. The Middle Easts largest buyout company promoted Omar Lodhi and Selcuk Yorgancioglu as co-chief executive officers of Abraaj Investment Management Ltd., which will…
ARLINGTON, Va.–(BUSINESS WIRE)–Graham Holdings Company (NYSE:GHC) today reported net income attributable to common shares of $302.0 million ($53.89 per share) for the year ended December 31, 2017, compared to $168.6 million ($29.80 per share) for the year ended December 31, 2016. For the fourth quarter of 2017, the Company reported net income attributable to common shares of…
Toys R Us is expected to tumble into administration next week after last ditch talks to find a buyer faltered. The move will put 3,200 jobs at risk and follows the recent decision by its bankrupt American parent to try to sell the loss-making UK business as well its other European stores. Members of the…
The cost of a significant internal restructuring project contributed to Gildan Activewear Inc. reporting Thursday a 26.1 percent decline in fourth-quarter net income to $54.9 million. The Montreal apparel manufacturer took $11 million in restructuring and acquisition charges in the quarter. Chief among the restricting initiatives was combining its printwear and branded apparel businesses into…
Veritas Technologies has hired a corporate restructuring specialist in the face of business difficulties. El Reg was told by Veritas insiders that CEO Greg Hughes has engaged Alix Partners to look at the company structure. He discussed cost pressures, initiatives and possible actions being considered at a 15 February all-hands meeting that was beamed direct…
Anglo American has changed almost beyond recognition since a restructuring and sales programme was started in 2013 to address enormous debt, with the company on Thursday posting its highest dividend in a decade and slashing debt. Anglo CEO Mark Cutifani made the point several times during the diversified miners annual results presentation that the company…
Corporate restructuring expected to enable Achillion to focus on goal of advancing its clinical and late-stage preclinical portfolio while maintaining a strong balance sheet Joseph Truitt, Chief Operating Officer, promoted to President of Achillion Achillion seeking to generate additional datasets with ACH-4471 in both C3G and PNH programs in 2018 Conference call scheduled for today…
WILLIAMSVILLE, N.Y.–(BUSINESS WIRE)–Tops Markets, LLC (Tops or the Company) today announced that it is pursuing a financial restructuring in order to eliminate a substantial portion of debt from the Companys balance sheet and position Tops for long-term success. Tops stores across the Companys portfolio in Upstate New York, Northern Pennsylvania and Vermont are continuing to…
Feb 21 (Reuters) – British contractor Interserve, which is in talks with its bankers to secure funding after issuing two profit warnings last year, has decided to close its power business as part of an operational restructuring of its industrial unit. Outsourcers such as Interserve have been the focus of investor attention since competitor Carillion…
By Esha Vaish (Reuters) British contractor Interserve <IRV.L>, which is in talks with its bankers to secure funding after issuing two profit warnings last year, has decided to close its power business as part of an operational restructuring of its industrial unit. Outsourcers such as Interserve have been the focus of investor attention since competitor…