CORPORATE DEALS | CORPORATE INSOLVENCY

I'm Kubi Michael Udofia, a PhD-er and an incorrigible Corporate Deal Junkie! This is my "Diary" of Corporate Deals and Bankruptcy/Insolvency Law :)

Pemex CEO on Mexico’s Plan to Open Oil Fields - WallStreetJournal

(Source: jumbiz)

Zimbabwe Creates Company to Purchase Bad Debt From Banks | Bloomberg

Zimbabwe has set up an asset management company to buy part of $705m in non-performing loans from banks, in a move to restore stability to a sector that has been whiplashed by rising bad debts.

Reserve Bank of Zimbabwe Governor John Mangudya said the newly created Zimbabwe Asset Management Corporation (ZAMCO) had bought $45m worth of bad debt from three banks as of August 15.

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Twenty companies to form new Nigerian Stock Exchange’s premium board | The Nation

The Nigerian Stock Exchange (NSE) may pick 20 companies out of the 30 stocks that made up its NSE 30 Index to form its new premium board. The NSE 30 Index tracks the 30 most capitalised stocks at the stock market.

The Nation‘s investigation indicated that the NSE may soon launch the new premium board, which will effectively make the Exchange a three-tier trading platform. The new premium board is designed as a market for the most capitalised stocks with the best corporate governance and liquidity. It is meant to showcase Nigeria’s best stocks to the global market […]

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According tothe Nigerian Government, Nigeria’s domestic cocoa market value currently stands at $80 billion. In addition, cocoa production in Nigeria is expected to hit 800 million metric tonnes in 2015.

According tothe Nigerian Government, Nigeria’s domestic cocoa market value currently stands at $80 billion. In addition, cocoa production in Nigeria is expected to hit 800 million metric tonnes in 2015.

"It will be immensely difficult for Malaysia Airline Service to recover … they have dug a hole big enough to swallow the entire company. Unless brutal, structural changes are made, there is no long-term future.”
Shukor Yusof, an analyst with Malaysia-based aviation consultancy Endau Analytics. Analysts are sceptical as to whether Malaysia Airline Service can survive as a going concern following the two tragedies involving its aircrafts namely, the disappearance of flight MH370 and the subsequent crash of flight MH17. Over the last nine years the carrier has recorded losses of more than a $1bn.

 

Bankrupt Energy Future will soon propose auction process | Reuters

Energy Future Holdings, the big Texas power company that filed for bankruptcy in April, said it will present a proposal for auctioning the company after it scrapped an earlier plan to exit Chapter 11 under control of unsecured creditors.

The company said it was evaluating potential proposals it received from financial and strategic bidders, and opting for an auction may indicate increasing interest in the company […]

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"Tim Hortons earns more money than Burger King does. I just don’t know how the Canadians would feel about Tim Hortons moving to Florida. The main thing here is to make the Canadians happy."
Warren Buffett on Burger King’s $12bn acquisition of Tim Hortons which will result to Burger King relocating to Canada and cutting its US corporate tax expenses i.e. tax inversion. Buffett’s Berkshire Hathaway is committing $3bn of preferred equity for 3G Capital, which controls Burger King, to acquire Tim Hortons.
Buffett is arguably right. This report on Bloomberg Businessweek shows that although Tim Hortons  has about 4,500 stores (20% in Canada and 5% in the US) and Burger King has 13,800 stores (2% in Canada and 39% in the US), Tim Hortons’s Canada business will contribute the majority of the revenue of the combined companies. Burger King’s U.S. and Canada business together represented only 15% of the combined company’s total 2013 revenue.

"Tim Hortons earns more money than Burger King does. I just don’t know how the Canadians would feel about Tim Hortons moving to Florida. The main thing here is to make the Canadians happy."

Warren Buffett on Burger King’s $12bn acquisition of Tim Hortons which will result to Burger King relocating to Canada and cutting its US corporate tax expenses i.e. tax inversion. Buffett’s Berkshire Hathaway is committing $3bn of preferred equity for 3G Capital, which controls Burger King, to acquire Tim Hortons.

Buffett is arguably right. This report on Bloomberg Businessweek shows that although Tim Hortons  has about 4,500 stores (20% in Canada and 5% in the US) and Burger King has 13,800 stores (2% in Canada and 39% in the US)Tim Hortons’s Canada business will contribute the majority of the revenue of the combined companies. Burger King’s U.S. and Canada business together represented only 15% of the combined company’s total 2013 revenue.

Courage is resistance to fear, mastery of fear- not absence of fear. - Mark Twain #WednesdayWisdom #wordsofwisdom 
#inspire #advice #wisdom #quotes #quoteoftheday #inspiration #motivation

Dollar General in love with Family Dollar? - CNNMoney

(Source: jumbiz)

Buffett puts shareholders ahead of patriotism in Canadian deal | Reuters

Warren Buffett may be most famous for the billions of dollars he has made from investing but he is also well known as a cheerleader for the United States. The Oracle of Omaha routinely exhorts investors to put their money in America, “the mother lode of opportunity,” as he wrote in his annual letter this year.

So Buffett’s participation in fast-food chain Burger King Worldwide Inc’s purchase of coffee and doughnut chain Tim Hortons Inc – complete with relocation of Burger King’s domicile to Canada – might at first blush raise questions about his patriotism […]

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Buffett helps Burger King bite off U.S. tax - CNNMoney

(Source: jumbiz)

"I made big mistakes and I take full responsibility. I was never on my knees but my pride took a hit and I’m now a bit poorer and a lot wiser. Anybody who says the entrepreneurial journey is a straight curve upwards only is wrong. It’s a roller coaster and if I couldn’t deal with it myself then I wouldn’t be much of a man."
Sir Tom Hunter, businessman, entrepreneur and Scotland’s first billionaire, who lost an estimated quarter of his fortune during the 2008 financial crisis as several of his businesses got into financial difficulties.
Dollar General Corporation has offered to buy US’ No. 2 discount chain, Family Dollar Stores Inc, for $8.95bn ($78.50 per share) in cash. The offer trumps an $8.5bn bid by Dollar Tree Inc and aims to strengthen its dominance of a growing segment of retailers serving penny-pinching customers.
If Dollar General’s bid sails through, the combined company would have nearly 20,000 stores across 46 US states and annual sales in excess of $28bn. It would also allow Dollar General to retain its No. 1 spot among U.S. dollar stores.
Love this photo!
Warren Buffett vs Floyd Mayweather :)
Nope! It isn’t a pre-match brawl lol! The Oracle of Omaha, Warren Buffett, paid a visit to Floyd “Money” Mayweather in the latter’s gym.
Ingersoll-Rand Plc, a maker of heating and air conditioning systems, plans to buy Cameron International Corp’s centrifugal compression unit for $850m. Ingersoll-Rand plans to fund the acquisition through a combination of cash on hand and debt.
The unit which makes oil and gas separation equipment, heaters and water processing systems, reported revenue of $396 million for 2013. The deal which will close by the end of the year is expected to add 8-10 cents per share to Ingersoll’s earnings in 2015.