Transocean buys Aker Drilling for $1.43bn to update its ageing fleet August 15, 2011 DRILLING contractor Transocean is paying double the market price for Norway’s Aker Drilling to refresh its ageing fleet of drilling rigs and boost flagging orders. Transocean, the owner and operator of the Deepwater Horizon rig at the centre of last year’s Gulf of Mexico oil spill disaster, is paying $1.43bn (£870m) or 26.50 crowns per [...]
E.ON looks to sell gas transport business August 15, 2011 E.ON is considering selling its natural gas transport network, a company source said, as Germany’s decision to abandon nuclear power forces the group to shed assets and jobs. The group may decide to sell Open Grid Europe, a subsidiary of E.ON’s Ruhrgas unit, which operates a 12,000km network and employs about 1,800 people. “They’ve been [...]
Max Petroleum starts drilling August 15, 2011 Drilling has begun at the UTS-3 appraisal well at Max Petroleum’s Uytas prospect in Block A in western Kazakhstan, the company said yesterday. The well will be drilled to a total depth of around 800 metres. The company bought the exploration and production rights to the area in the prolific pre-Caspian basin in 2005. The [...]
Coal of Africa to finalise deal August 15, 2011 Coal of Africa, the coal developer, said yesterday it expects its acquisition of the Chapudi coal project to be finalised by the end of April next year. The original fulfilment date was first set at 1 August and earlier this month extended to 12 August. The firm is buying the Chapudi coal project and related [...]
African Minerals’ protection call August 15, 2011 African Minerals, the largest firm on London’s Alternative Investment Market, will ask shareholders next month to vote on increasing its takeover protection, arguing that the company’s corporate profile is likely to rise once it starts producing iron ore. The provisions will be a diluted version of the Takeover Code, which does not currently cover the [...]
Wincanton pulls out of Europe August 15, 2011 British logistics company Wincanton yesterday sold off the remainder of its mainland European operations to Germany’s Rhenus for €44m (£38.8m). Rhenus will take on the branch’s 3,000 staff plus a €30m pension deficit. Wincanton said its withdrawal from Europe will help pay off its debts and help it focus on UK operations.
TROUBLE IN SOHO AS MILK & HONEY SOURS OVER ROOF DECK DISORDER August 15, 2011 THE newly-planted bushes and olive trees on the roof of Milk & Honey have proved a hit, at least with the well-heeled professionals who drink the members club’s lethal cocktails late into the night. But Soho residents are not so enamoured with the exclusive bar’s smart new roof terrace, making six noise-related complaints since the [...]
Mitie upbeat on order book August 15, 2011 CONSTRUCTION and outsourcing firm Mitie said its financial year had started well, with profit and revenues in line with expectations, and said a record order book means it is extremely positive about the outlook. Mitie, which provides services from cleaning to engineering, said yesterday it had made significant progress in each of its key target [...]
Spectris spends $475m on US firm Omega Engineering August 15, 2011 BRITISH electrical engineering firm Spectris has agreed to buy privately held Omega Engineering for $475m (£291m) to strengthen its industrial controls business. Surrey-based Spectris, which serves various industries including mining, pharmaceuticals and transport, said it would finance the deal from its existing cash and bank facilities. Spectris expects the acquisition to add to adjusted earnings [...]
Huawei sales rise 11 per cent as it gains ground on rival Ericsson August 15, 2011 CHINA’S Huawei Technologies, the world’s number two network equipment maker, posted an 11 per cent rise in its first-half sales yesterday as it closes in on market leader Ericsson. Huawei, one of China’s best-known names in the technology sector, faces a weak global economy due to US and European debt woes that could hamper telecom [...]
