London Report: FTSE slumps to 4-week low on tightening fears August 7, 2013 THE FTSE 100 share index closed at a four-week low yesterday on concerns the Bank of England (BoE) and the US Federal Reserve may start tightening monetary policy earlier than expected. A day after two Fed officials suggested the US central bank may cut the pace of bond purchases as early as next month, the [...]
Glencore set to offer a merger compromise for EU regulators October 30, 2012 COMMODITIES trader Glencore, hoping to speed its multi-billion pound takeover of Xstrata over its final hurdles, was last night gearing up to offer to sell part of the group’s zinc assets, meeting a deadline set by European authorities. Industry sources said Glencore’s desire to avoid an in-depth investigation in Brussels would prompt it to respond [...]
EU regulators want Glencore concessions on Xstrata deal October 29, 2012 EU ANTITRUST regulators have told trader Glencore to offer concessions in its zinc operations to ease concerns about its planned $33bn (£21bn) buy of miner Xstrata, a person familiar with the matter said yesterday. The European Commission, which handles competition regulation in the 27-member European Union, is currently examining the deal and has set a [...]
Luton Airport snapped up by Aena and Axa August 1, 2013 LUTON Airport is set to expand after the rights to run the airport were snapped up by Spanish infrastructure group Aena and Axa’s private equity arm. Aena has teamed up with Axa to buy the remaining 90 per cent from fellow Spanish firm Abertis in a deal worth £433m. State-owned Aena already held 10 per [...]
Xstrata shareholders to vote on Glencore merger on 20 November October 25, 2012 Shareholders in Xstrata will vote on the proposed deal with Glencore on 20 November, the commodities trader said in a statement this afternoon. The investor meeting, which will take place 10 months after the original deal was announced, will see shareholders vote on the proposed deal of 3.05 new shares for every Xstrata share. Under [...]
Inside Track: Lord Davies still in the running for both RBS and Lloyds August 7, 2013 LORD Davies, the former trade minister and one of the City’s most distinguished bankers, is not a man who gives up easily. So it must have been galling that the share price of Lloyds Banking Group has put on a gallop in recent weeks, faster than the famous black stallion that adorns its logo. Project [...]
Glencore buys stake in grain hub October 2, 2012 Commodities giant Glencore has bought an interest in a deep sea grain export terminal in Russia. It has entered into a 50-50 joint venture agreement with Ukraine’s Kernel to buy the interest from EFKO Group. Taman, on Russia’s Black Sea coast, is close to Russia’s main grain producing region, and Glencore said the acquisition will [...]
Xstrata and Glencore to back tie-up September 30, 2012 XSTRATA and Glencore hope to win round investors today with the long-awaited latest version of their mining mega-merger. The Xstrata board spent the weekend thrashing out the details of the improved deal in a bid to satisfy as many shareholders as possible, with a focus on the generous retention package for the firm’s top staff. [...]
Xstrata and Glencore to back tie-up September 30, 2012 XSTRATA and Glencore hope to win round investors today with the long-awaited latest version of their mining mega-merger. The Xstrata board spent the weekend thrashing out the details of the improved deal in a bid to satisfy as many shareholders as possible, with a focus on the generous retention package for the firm’s top staff. [...]
Glencore agrees new deal for Kazzinc stake September 25, 2012 Glencore has watered down its plans for an increased stake in zinc producer Kazzinc, announcing today it to acquire an extra 18.91 per cent of the firm from Verny Capital. The commodities giant, which already owns 50.7 per cent of Kazzinc, was targeting an acquisition of up to 48.73 per cent from Verny Capital. Glencore [...]