Petra Diamonds’ share price rallies as banks waive some debt covenants and it agrees to buy De Beers’ Kimberley Mines December 1, 2015 Petra Diamonds’ share price skyrocketed today on the confirmation of its Kimberley mine deal and news lenders had agreed to waive some covenant tests. The company’s shares closed up 12.63 per cent, at 72.25p per share, leading the FTSE 250 higher. The group of lenders, including Absa Bank, FirstRand Bank, IFC and Nedbank, told Petra Diamonds they were [...]
South African central bank rides to the rescue of stricken lender August 10, 2014 TROUBLED South African lender African Bank Investments (Abil) was yesterday chopped up into a good bank and bad bank by authorities in a bid to rescue the stricken lender. The South African Reserve Bank (Sarb), the country’s central bank, placed the lender under creditor protection while it raises more funds. A 940m rand (£560m) capital [...]
WHAT THE OTHER PAPERS SAY THIS MORNING June 9, 2009 FINANCIAL TIMES MALAYSIA’S GENTING BUYS 3.2 PER CENT STAKE IN MGM UNITGenting, the Malaysian gaming group, has paid $100m for a 3.2 per cent stake in MGM Mirage, firming a relationship that could help pave the way for future deals in Macao and the US. Genting matched the $100m that Kirk Kerkorian, MGM Mirage’s largest [...]
WHAT THE OTHER PAPERS SAY THIS MORNING June 9, 2009 FINANCIAL TIMES MALAYSIA’S GENTING BUYS 3.2 PER CENT STAKE IN MGM UNITGenting, the Malaysian gaming group, has paid $100m for a 3.2 per cent stake in MGM Mirage, firming a relationship that could help pave the way for future deals in Macao and the US. Genting matched the $100m that Kirk Kerkorian, MGM Mirage’s largest [...]