Cynthia Trench Saturday 22 July 2017 The absence of a legal framework for bankruptcy has long been a hindrance to UAE business. In the past, financial problems spelled trouble for companies, as local courts could not be persuaded to offer a moratorium on debt, which would have given firms the chance to…
(Adds details related to agreement, advisor quotes) By Guillermo Parra-Bernal BOGOTA, July 22 (Reuters) – TPI Triunfo Participações & Investimentos SA and a pool of about 20 banks have agreed on terms to restructure 2.113 billion real ($672.6 million) of debt, giving the Brazilian infrastructure firm a lifeline to finalize projects and downsize gradually. The…
TPI Triunfo Participações & Investimentos SA and a pool of about 20 banks have agreed on terms to restructure 2.113 billion real ($672.6 million) of debt, giving the Brazilian infrastructure firm a lifeline to finalize projects and downsize gradually. The process will take place as an out-of-court workout, in which companies seek a limit on…
Warehouse reduction part of Adveo’s strategy to move to e-commerce business model
Microsoft have surpassed expectations in their latest quarterly earnings report, reporting $23.3 billion in revenues and $6.5 billion in net income. Innovation across our cloud platforms drove strong results this quarter, said Satya Nadella, chief executive officer at Microsoft, Customers are looking to Microsoft and our thriving partner ecosystem to accelerate their own digital transformations and…
Dalian Wanda has survived setbacks before, like the time Chinese stock-market regulators tried to slow down its flotation of Wanda Cinema Line. The real estate giant responded with an IPO the following year that gave its multiplex business a market capitalization several times that of AMC, the North American theater group Wanda acquired in 2012. This…
Bis Industries, one of the major transport players in Western Australia, will come under new ownership after a $1 billion debt-for-equity swap deal was struck with its major lenders. Carlyle Group, Metrics Credit Partners, Varde Partners and other creditors will take ownership in the logistics business from private equity group KKR, with the debt-for-equity deal…
Reuters| Updated: Jul 19, 2017, 07.32 PM IST The restructuring plan would involve moving several of its technology businesses under Tata Consultancy Services Ltd , the country’s top software services exporter, the report said. India’s salt-to-software Tata Group is considering a plan to streamline its technology and infrastructure businesses, Bloomberg reported on Wednesday, citing people…
July 20 (Reuters) – The following are the top stories on the business pages of British newspapers. Reuters has not verified these stories and does not vouch for their accuracy. The Times GlaxoSmithKline Plc is selling its Horlicks business in Britain and has abandoned a planned 350 million pounds ($455.88 million) investment in Cumbria as…
(Reuters) Rubber products maker Ansell Ltd <ANN.AX> announced writedowns and restructuring on Thursday following the sale of its flagship condoms business two months ago. Ansell said it will spend US$70 million to $100 million (76.76 million pounds) over three years to reorganise its supply chain, merge its single-use and medical divisions into a healthcare unit…