Dan Loeb’s Third Point filings show 1.6m BlackRock share stake, 4.5m in Alibaba
Businessam Staff
August 13, 2017
Dan Loeb’s Third Point took a 1.6 million-share stake in BlackRock Inc and reinitiated a stake in Alibaba Group Holding of 4.5 million shares during the second quarter ended June 30, according to regulatory filings late on Friday. In its letter last month to investors, Third Point called BlackRock an “asset-gathering machine,” with organic net […]
French fashion firm behind Sandro, Maje picks banks for float
Businessam StaffAugust 11, 2017
Bank of America Merrill Lynch , JP Morgan, and KKR Capital Markets have been chosen as joint global coordinators for the float of fashion company SMCP in Paris, sources familiar with the matter told Reuters news agency on Friday. The French company behind fashion brands Sandro, Maje and Claudie Pierlot, which is controlled by China’s […]
Anglo-South African Old Mutual plans listing of businesses next year in break-up
Businessam StaffAugust 11, 2017
Anglo-South African financial services group Old Mutual is aiming to list two divisions rather than sell them as it pursues a plan to split into four parts by the end of next year, a Reuters deals report monitored by Businessamlive has shown. Last year, Old Mutual said it was breaking up because regulatory change made […]
Sovereign Wealth Fund contributors to reap dividends from 2018
Businessam StaffAugust 8, 2017
Uche Orji, the Managing Director, Nigeria Sovereign Investment Authority (NSIA), said Monday that contributors to the Sovereign Wealth Fund will be eligible to dividends from 2018. The MD disclosed this in Abuja at the Minister of Information and Culture, Lai Mohammed’s working visit to NSIA. “We are not allowed to pay dividends until after 5 […]
Nigeria central government seeks to broaden funding as it offers 2, 3-year savings bonds
Oluwafemi OgunjobiAugust 7, 2017
Nigeria central government, through the Debt Management Office (DMO), Monday offered for subscription two-year and three-year savings bonds to investors at 13.54 percent and 14.54 percent interest, respectively. The subscriptions, which opened from August 7, would close on August 11, 2017. The DMO said the two-year bond would be due on August 16, 2019, while […]
Saudi’s Prince Alwaleed to invest $800 million in Egypt
Businessam StaffAugust 7, 2017
Saudi Arabia’s billionaire, Prince Alwaleed bin Talal, will invest about 800 million dollars to expand the Four-Seasons-resort in Sharm el-Sheikh, in partnership with Talaat Moustafa Holding Group, Egypt’s Investment Minister, Sahar Nasr said on Monday. According to Reuters/NAN’s report, the billionaire’s investment will also include establishing two new hotels in al-Alamein, a town on Egypt’s Mediterranean […]
FCMB Group: Mild earnings recovery expected in H2’17
Businessam StaffAugust 4, 2017
CardinalStone Research Earnings to improve in H2’17 FCMB’s H1’17 financial performance came in weaker as top and bottom line declined by 12.2% and 80.2% respectively following prior year’s high base. In particular, non-interest income moderated by 45.4% due to the high base from last year (following significant FX revaluation gains reported post-currency devaluation – H1’16: […]
FGN Savings Bond August offer opens on Monday August 7th 2017
Businessam StaffAugust 4, 2017
CBP Research We write to inform you about the Federal Government of Nigeria Savings Bond which will open next week the 7th of August 2017. The bond subscription period will run from 8.00am on Monday the 7th of August 2017 till 12.00 noon Friday, the 11th of August 2017. The Savings Bond will have almost […]
Goldman Sachs buys into Aramco $10 billion loan as it seeks IPO role, sources say
Businessam StaffAugust 3, 2017
Goldman Sachs has bought a slice of Saudi Aramco’s $10 billion credit facility as it seeks a role in the historic listing of the oil company, according to Reuters’ report. It is common practice in capital markets to first establish banking relationships through loan transactions which are then followed by other deals. Goldman purchased a […]
Blackstone in talks to sell stake in camera maker Leica
Businessam StaffAugust 2, 2017
Buyout group Blackstone is in talks with potential buyers for its 45 percent stake in iconic high-end camera and sport optics maker Leica, people close to the matter said. The investor has teamed up with an investment bank to work out strategic options for the company and has already held talks with several potential acquirers, […]