Beverages giant coy on timing of demerger Aug 26, 2009
FOSTER'S gave no update on a demerger of its beer and wine divisions when it published its results, but that has not stopped chatter that it is only a matter of time before they are separated. Yesterday Foster's said its beer and Australian wine divisions fit quite nicely together in some ways. (Sydney Morning Herald -- Business)
TM gains from unrealised forex Aug 22, 2009
6% to RM266mil from RM273mil in the previous corresponding period following the demerger of its mobile business in April 2008. Excluding the results of its demerged Axiata Group Bhd, TM said its profit from continuing operations surged 132% as it benefited from unrealised foreign exchange gains. (The Star Online, Malaysia -- Business)
C&W lifted by fresh demerger hopes Aug 22, 2009
FT.com / Markets / UK - C&W lifted by fresh demerger hopes ... C&W lifted by fresh demerger hopes. (FT.com -- Markets)
DoT to hive off VSNL's 773-acre surplus land Aug 13, 2009
The telecom commission, the apex policy-making body of DoT, is meeting on August 26 to discuss the modalities of the proposed demerger of the 773-acre land bank ... The Telecom Commissions meeting on August 26 will discuss a clutch of issues, including the possible demerger of the land into a separate corporate entity, a senior DoT official said ... It remains to be seen whether a possible demerger decision subsequently leads to the disposal of VSNLs surplus land through the auction route... (India Times)
No coalminers' daughters, but they're desirable nonetheless Aug 11, 2009
Suncorp's incoming chief executive, Patrick Snowball, is an insurance specialist and not a banker, and so a demerger would represent another option. But a spin-off of banking would run the risk of someone like QBE or AMP making a bid for the insurance division - and possibly Snowball's job - and leaving the banking unit to languish on the market. (Sydney Morning Herald -- Business)
Growers in CSR buy Aug 10, 2009
The group has sought advice from lawyers and merchant bankers as to how best deal itself in to CSR's demerger process ... Also sniffing around the demerger is Sir Ron Brierley's Guinness Peat Group, which has a strategic 5 per cent stake in CSR and has been agitating for a restructure for some time. (Sydney Morning Herald -- Business)
13 stocks in Nifty 50 turn market leaders Aug 10, 2009
Markets have been positively surprised by the profits reported by auto companies such as Hero Honda, Maruti, MBajaj Auto (adjusted for demerger) and this has led to a price-to-earnings (P/E) expansion in these scrips, Motilal Oswal, chairman and managing director of Motilal Oswal Financial Services said. Mr Oswal believes superior returns delivered by these stocks is primarily due to change in company specific fundamentals and partly because of P/E expansion. (India Times)
Pump up the volumes: why Asciano is looking good Jul 30, 2009
(Asciano was formed two years ago from a demerger of the ports and rail businesses of Toll Holdings in the wake of that companys takeover of Patrick Corporation. . (Sydney Morning Herald -- Business)
Orica still expects to post net profit Jul 21, 2009
Orica has flagged a demerger of its consumer products division, but Mr Liebelt again offered no time frame for the process. "It is my belief that it will be an even greater business as an independently listed entity when the time comes," Mr Liebelt said. (Sydney Morning Herald -- Business)
Telstra May Have to Split on Government Broadband Policy, Australian Says Jul 20, 2009
Telstra May Be Forced to Consider Demerger, Review Reports - Bloomberg ... Telstra May Be Forced to Consider Demerger, Review Reports. (Bloomberg -- Australia & New Zealand)
Global DiSCS Trust 2004-1 (TSX:DST.UN) Announces Idearc Inc. Credit Event Settlement Jul 14, 2009
25% of the Reference Portfolio as a result of a demerger from Verizon Communications Inc.. Following the Company's Bankruptcy Credit Event, the Trust's remaining synthetic first-loss tranche protection is 2. (CCNMatthews Press Releases)
Weiss slams CSR board Jul 9, 2009
"As a result CSR's gearing has increased dramatically thereby considerably weakening CSR's financial position overall and ultimately necessitating the highly dilutive capital raising that occurred in November last year.'' Earlier, CSR shareholders at the Sydney meeting were told the sugar, building materials and aluminium company expects group earnings before interest and tax (EBIT) and before significant items will be slightly higher in 2010 than last year. Addressing shareholders, CSR managing... (Sydney Morning Herald -- Business)
ET Now Exclusive: We expect 50% growth in asset base this year, says L&T CFO Jul 1, 2009
We thought that it is a good opportunity for us to capitalise on that and also increase our presence in the rural market, which became absolutely small post the cement demerger. And now we are slowly expanding our presence in rural India. (India Times)
Orica plans consumer products split Jun 22, 2009
Orica plans demerger of consumer products division ... Explosives, industrial chemicals and consumer products group Orica says it is still working on a demerger of its consumer products division, but a split is unlikely within the next year. (Sydney Morning Herald -- Business)
File: Ambani brothers shake hands at Advani's residence Jun 19, 2009
Those looking on included ICICI Bank honcho K V Kamath who presided over the demerger of Dhirubhai. Ambanis's empire and is seen as possibly the only person who can get the brothers to bury the hatchet. (India Times, India)
Time is right to split sugar and building: CSR Jun 17, 2009
All possible options have considered, Mr Maycock said, with a demerger seen as the best way to optimise shareholder value ... The demerger would require a range of regulatory and statutory approvals, as well as shareholder and court approval of a scheme of arrangement ... A major component of the demerger process is the splitting of CSR's current debt between two new companies, with current net debt standing at $1. (Sydney Morning Herald -- Business)
ELIZABETH KNIGHT Jun 17, 2009
CSR's demerger will only work if its two daughters can flourish on their own. It beggars belief that James Hardie Industries would even consider moving to minimise its tax obligations. (Sydney Morning Herald -- Business)
CSR Plans to Spin Off Its Sugar, Renewable Energy Business By End of March Jun 17, 2009
The demerger plan is targeted for completion by the end of the year ending March 31, the Sydney-based company said today in a statement. The sugar business is valued at A$1. (Bloomberg -- Australia & New Zealand)
Carphone to split by July 2010 Jun 5, 2009
Mr Dunstone said that the TalkTalk demerger would make it easier for shareholders to assess more clearly the value of the group's businesses. "It's been increasingly obvious that the group is now two businesses," Mr Dunstone said. (BBC News -- Business)
Hot Stock: Crown Ltd (CWN) Jun 4, 2009
Since the demerger from Publishing and Broadcasting in November 2007, Crown has embarked on a three-pronged strategy that hasn't quite played out how they originally saw it. The Australian casinos have been the rock upon which earnings and cash flow have been solidly built and continue to do so. (Sydney Morning Herald)
Mylan names Jolene Varney CFO May 29, 2009
Varney comes to the Canonsburg-based generic drug maker from , where as senior vice president of corporate finance, she led the $4 billion financing and demerger of the beverage business from , Mylan said in a statement. Varney also spent 18 years at , most recently as the company s global treasurer. (Pittsburgh Business Times, PA)
Cool Wahid takes the heat in his stride May 23, 2009
However, Wahid left a month earlier to helm Maybank, and therefore, had taken part mostly in the corporate exercises but not in the management of the demerger. Apart from launching a transformation plan, the challenge at Maybank is bigger and very different. (The Star Online, Malaysia -- Business)
Allianz to fund Bajaj's life business May 22, 2009
The stake in the life insurance business, which was originally held by Bajaj Auto, was transferred to Bajaj FinServ following the demerger. The JV is among the most cost-efficient in terms of its ratio of capital deployed to total business. (India Times)
blinkx PLC Announces Results for the Year Ended 31 March 2009 May 19, 2009
" Financial Highlights For the financial year ended 31 March 2009 (FY2009), revenues totaled $13.9 million increasing 113% over the $6.5 million in revenues reported for the period from 23 April (incorporation) through 31 March 2008 (FY2008) which contained 49 weeks of trading. Gross profit for FY2009 was $9.8 million representing a gross margin of 71%. Gross profit for FY2008 was $4.9 million, representing a gross margin of 75%. Net loss for the FY2009 was $8.9 million. Net loss for FY2008 was... (PR Newswire)
Land Securities - CEO and FD Interviewed on Preliminary Results May 13, 2009
He also underlined that the demerger plan was off the agenda. Martin Greenslade, Group Finance Director, talks about actions taken to protect the balance sheet including disposals, bank facilities and the rights offering earlier this year. (PR Newswire)
The puzzle of Buzzle: was Apple in control? May 8, 2009
The liquidators also claim that Apple needed Buzzle to continue trading between January and March 2001, when it was already broke, in order for Apple to attempt a demerger of the resellers. Mr Likidis agreed under cross examination last week that Buzzle's failure was considered to be "devastating" to its public image. (Sydney Morning Herald -- Technology)
Tesco takes mobiles war to Carpho... Apr 19, 2009
Meanwhile, Carphone will this week spell out how it intends to press ahead with a demerger of its Talk Talk broadband arm from the retail side but not for at least 12 months. Have your say. (New York Post -- Business)
Axiata banks on catalysts Apr 4, 2009
Axiata has paid Telekom Malaysia Bhd (TM) RM2bil of the RM4bil owed to the latter arising from the demerger of the companies last year. The remaining RM2bil owed to TM will be repaid by the end of April in accordance with the terms of the de-merger. (The Star Online, Malaysia -- Business)
Second rung stocks outperform Sensex Mar 27, 2009
During the demerger, shareholders had got 1 share of BHRL for every 5 S Kumars Nationwide shares held. BHRL sets up and manages exclusive brand outlets for the following brands; Reid r, Belmonte, Stephens Brothers, Carmichael House and leading international luxury brands like Escada and Alfred Dunhill. (India Times)
Nigeria: Water Provision - Chasing an Elusive Global Target [editorial] Mar 26, 2009
" "Meanwhile, an investment of $15 billion a year towards meeting the Millennium Development Goal of halving by 2015 the number of people without sustainable access to safe water and basic sanitation could generate global economic benefits worth $38 billion annually," he added. Seeking Legislative Intervention Members of the National Assembly have been enjoined to collaborate with donor agencies and international non-governmental organisations (NGOs), to ensure that funds allocated to water... (allAfrica.com)
C&W faces flak over new bonus pla... Mar 15, 2009
The new incentive will also factor in a possible demerger of the international business. We will pay attention to shareholders views in formulating our financial proposals, C&W said. (New York Post -- Business)
TMI proposes to raise RM5.25bil via rights issue Feb 27, 2009
TMI was listed on April 28, 2008 after a demerger from Telekom Malaysia Bhd (TM). As part of the demerger exercise, TMI has to repay TM RM4bil by April 24. (The Star Online, Malaysia -- Business)
Cadbury 2008 profit down 10 pct amid divestments Feb 25, 2009
Cadbury, formerly Cadbury Schweppes, completed the demerger of its Dr Pepper Snapple Group in May, and announced a deal to sell its Australia Beverages unit in December. It took a charge of 194 million pounds for restructuring costs, up from 165 million pounds in 2007. (International Herald Tribune)
Suncorp scoffs at decoupling idea Feb 25, 2009
SUNCORP yesterday hit out at suggestions it was open to a demerger of its businesses, insisting its struggling banking arm will remain part of the group. "Our new CEO will be one that has three businesses," Suncorp chairman John Story said of the insurance, banking and wealth management group. (Melbourne Herald Sun)
Fosters Group to keep struggling wine business Feb 18, 2009
2bil wine business and reshape it over time, as tough debt and equity markets cut out the option of a sale or demerger. Fosters, which makes Beringer, Penfolds and Lindemans wines, put the wine unit under review last June. (The Star Online, Malaysia -- Business)
CHORION: Investment Driving Long Term Global Growth in Children's Characters Feb 16, 2009
Following its demerger from a larger leisure group in 2002, Chorion was listed on the AIM market of the London Stock Exchange until May 2006, when it was taken private by Planet Acquisitions Limited, a company formed by 3i and Chorions management team, for a total enterprise value of 135m. Having rapidly built a successful content business based mainly on a strong portfolio of popular children brands, the rational for going private was to provide flexibility for Chorion to make... (Yahoo! Wire -- Entertainment News)
Scots job cuts at C&W less than feared Feb 11, 2009
Scots Job Cuts At CW Less Than Feared (from The Herald ). Scots job cuts at C&W less than feared. (The Herald)
Cable & Wireless on track for full-year guidance Feb 10, 2009
C&W also announced in November that it had postponed its demerger plans due to the turmoil in the financial markets. (Reporting by Kate Holton and Tom Bergin; Editing by Erica Billingham). (International Herald Tribune)
Suncorp's high-level job search Feb 9, 2009
It is understood the board is pushing for a candidate with insurance experience, rather than a broad financial services background, in a move that is expected to pave the way for an accelerated sale of the banking arm, or a demerger of the lending business. According to several people with knowledge of the recruitment process, Suncorp has acknowledged the future structure of the business will be finally addressed through the appointment of Mr Mulcahy's successor. (The Age, Australia -- Business)
