PTT extends Cove bid deadline in race against oil major Shell July 9, 2012 PTT Exploration and Production yesterday extended for a second time the deadline for investors to accept its $1.9bn (£1.2bn) offer for gas explorer Cove Energy, as it waits for rival suitor Shell to make its next move. The Thai company has been fighting with oil major Shell to buy Cove since February. Cove has huge [...]
US firms price listings as market shows life July 9, 2012 SOFTWARE security company Palo Alto Networks, online travel service Kayak Software and legendary guitar maker Fender yesterday set the expected price ranges for their initial public offerings, prodded by a successful debut by IT software company ServiceNow. Palo Alto Networks expects to sell 6.2m shares between $34-$37 each. At the high end of the price [...]
ADVISERS UBS July 9, 2012 JONATHAN Rowley, managing director mergers & acquisitions, is one of the UBS team advising PTT on its pursuit of Cove Energy. Rowley has also advised Altimo, the telecoms arm of Russia’s Alfa group, on the sale of its 25.1 per cent indirect equity stake in Russia’s MegaFon for $5.2bn, and Vodafone on its £1bn cash [...]
British Airways launches bond July 9, 2012 British Airways said yesterday it is looking to raise up to £250m by selling an innovative bond secured against 31 of its Heathrow landing slots. Investors in the bond, the final terms of which will be determined by market demand, will be given access to the assets of a BA subsidiary shell – including the [...]
Lord Browne invests in North Sea July 9, 2012 Riverstone Holdings, the private equity firm run by former BP boss Lord Browne, has made a $150m investment in private North Sea oil and gas company Fairfield Energy. Fairfield said yesterday Riverstone also had the option of an additional $200m in conjunction with any future contributions from current investors led by Warburg Pincus.
Rolls-Royce wins helicopter deal July 9, 2012 Engineer Rolls-Royce said yesterday it had sealed a $183m (£118m) helicopter contract with the US army. The contract will support 500 M250 engines on more than 300 OH-58D Kiowa Warrior scout helicopters. The company also revealed it has agreed a deal with Malaysia Airlines to service the Trent 900 engines.
BMW pumps £250m into Mini July 9, 2012 BMW yesterday announced that it would pump £250m into Mini production in the UK. The money will be made available for Mini production at its factories in Oxford, Birmingham and Swindon. It comes on top of a previous £500m investment.
Branson enjoys a wild time on maiden flight July 9, 2012 DOES Virgin Atlantic’s promise to treat its passengers like rock stars extend to its own staff? It certainly looked that way on the carrier’s inaugural flight to Cancun, where a plane-load of employees and hangers-on managed to drink the onboard bar dry before a beach party that could not be stopped even by hurricane-strength winds [...]
Pimlico Plumbers employees reveal all July 9, 2012 GRADUALLY the taboos are being broken. First, an unemotional tennis player breaks down in tears after losing the Wimbledon final. Next the workforce at Pimlico Plumbers takes part in a challenge where they reveal their pay to each other for the sake of an experiment and a television programme entitled Show Me Your Money to [...]
Michael Page feels pain from banking sector July 9, 2012 TOUGH financial job market conditions have continued to impact growth at white-collar recruiter Michael Page, which reported a slide in quarterly profits yesterday. The British group, which places people in accounting, financial and legal jobs across 35 countries, is battling a slowdown in markets as clients hold off on hiring or moving jobs in light [...]
