(Reuters) - About 8,500 complaints of related pet deaths have been reported to the U.S. Food and Drug Administration by Thursday, but the agency said that only 16 deaths of cats and dogs have been confirmed.
The pet foods recalled late on Wednesday were made at the same facility at the same time as other Menu Foods products that contained wheat gluten tainted with the chemical melamine, the company said in statement.
Read more at Reuters.com Government Filings News
Thursday, May 3, 2007
ABN Amro's Sale of LaSalle to Bank of America Is Blocked by Dutch Court
(Bloomberg) -- A Dutch court blocked ABN Amro Holding NV's $21 billion sale of LaSalle Bank to Bank of America Corp. because management failed to get shareholder approval for the deal.
``ABN Amro management has misjudged its task,'' said Judge Huub Willems of the Amsterdam district court's Enterprise Chamber in the ruling today, backing a complaint by the Dutch investor group VEB.
Read more at Bloomberg Currencies News
``ABN Amro management has misjudged its task,'' said Judge Huub Willems of the Amsterdam district court's Enterprise Chamber in the ruling today, backing a complaint by the Dutch investor group VEB.
Read more at Bloomberg Currencies News
Australia Bonds to Return 60 Percent More Than Treasuries, Westpac Says
(Bloomberg) -- Australian government two-year bonds will return 60 percent more than equivalent U.S. Treasuries in the next three months as both central banks surprise investors by keeping policy unchanged, said Westpac Banking Corp.
The Federal Reserve will keep rates on hold for the rest of 2007, going against futures markets pricing in a rate cut, said Damien McColough, chief debt strategist at Westpac. Traders see an even chance the Reserve Bank of Australia will lift borrowing costs by the end of the year, which won't happen, he said.
Read more at Bloomberg Bonds News
The Federal Reserve will keep rates on hold for the rest of 2007, going against futures markets pricing in a rate cut, said Damien McColough, chief debt strategist at Westpac. Traders see an even chance the Reserve Bank of Australia will lift borrowing costs by the end of the year, which won't happen, he said.
Read more at Bloomberg Bonds News
Calderon Spurs Mexico Bonds as Pork Chop Lunch Wins Support From Rival PRI
(Bloomberg) -- Mexican President Felipe Calderon's success in gaining opposition support to overhaul pensions and his plan for the biggest tax reform in almost three decades have sparked a bond rally that may push yields to record lows.
Calderon, a Harvard University-trained economist, has broken the political logjam that stymied predecessor Vicente Fox by courting opposition lawmakers with telephone calls, meetings and even a pork-chop lunch at the presidential palace. Fox never reached out to members of the rival Institutional Revolutionary Party, said PRI Deputy Adolfo Mota.
Read more at Bloomberg Bonds News
Calderon, a Harvard University-trained economist, has broken the political logjam that stymied predecessor Vicente Fox by courting opposition lawmakers with telephone calls, meetings and even a pork-chop lunch at the presidential palace. Fox never reached out to members of the rival Institutional Revolutionary Party, said PRI Deputy Adolfo Mota.
Read more at Bloomberg Bonds News
China Shenhua, Doosan Heavy, Powertech: Asian Stocks Added to MSCI Indexes
(Bloomberg) -- Shares of the following companies moved after Morgan Stanley Capital International Inc. said they will be added to or deleted from their MSCI country equity benchmarks, according to a review announcement on the index provider's Web site yesterday. Prices were as of 10 a.m. in Hong Kong.
Shares of 36 companies in Asia were chosen for inclusion, while 40 companies will be dropped from the indexes. Markets in Japan and China are closed for a holiday today, and have yet to open in Thailand, India and Pakistan.
Read more at Bloomberg Stocks News
Shares of 36 companies in Asia were chosen for inclusion, while 40 companies will be dropped from the indexes. Markets in Japan and China are closed for a holiday today, and have yet to open in Thailand, India and Pakistan.
Read more at Bloomberg Stocks News
European Stocks Rise After U.S. Labor Report; Shell, Barclays Pace Gains
(Bloomberg) -- European stocks advanced to a 6 1/2- year high after a report showed U.S. worker productivity rose as labor costs eased, and Royal Dutch Shell Plc and Unilever reported earnings that beat analysts' estimates.
``Today's data was a good mix indicating sustained growth and low inflation risk,'' said Carsten Klude, who helps manage $20 billion as head of investment strategy at M.M. Warburg & Co. in Hamburg. ``Positive earnings surprises are the groundwork for further share price gains.''
Read more at Bloomberg Stocks News
``Today's data was a good mix indicating sustained growth and low inflation risk,'' said Carsten Klude, who helps manage $20 billion as head of investment strategy at M.M. Warburg & Co. in Hamburg. ``Positive earnings surprises are the groundwork for further share price gains.''
Read more at Bloomberg Stocks News
US chemical shipments by rail rise - AAR report
(Reuters) - For the week ended April 28, chemical rail car loadings rose to 31,666 from 31,331 in the year-ago period, the AAR said in a report on Thursday.
The figures often provide an early glimpse of broader trends for the chemical industry as well as manufacturing, according to analysts.
Read more at Reuters.com Economic News
The figures often provide an early glimpse of broader trends for the chemical industry as well as manufacturing, according to analysts.
Read more at Reuters.com Economic News
European stocks fall, banks outweigh good results
(Reuters) - Among major movers, UBS tumbled after saying it would wind up its loss-making hedge fund arm as its quarterly profit dropped, while Unilever jumped after reporting higher-than-expected quarterly sales.
The FTSEurofirst 300 index of leading European shares was 0.3 percent lower at 1,573.2 points by 1028 GMT, but was still up around 6 percent for the year to date.
Read more at Reuters.com Hot Stocks News
The FTSEurofirst 300 index of leading European shares was 0.3 percent lower at 1,573.2 points by 1028 GMT, but was still up around 6 percent for the year to date.
Read more at Reuters.com Hot Stocks News
UPDATE 1-U.S. service growth picks up in April - ISM survey
(Reuters) - The Institute for Supply Management's services index rose to 56.0 in April from a four-year low of 52.4 in March. The median forecast among analysts polled Reuters was 53.0.
A number above 50 indicates growth in the sector.
Read more at Reuters.com Economic News
A number above 50 indicates growth in the sector.
Read more at Reuters.com Economic News
Asian Equities Advance to a Record on Earnings; Korea Electric Leads Gains
(Bloomberg) -- Asian stocks rose to a record after Korea Electric Power Corp. reported higher earnings and United Microelectronics Corp. forecast an increase in profit.
Benchmarks in South Korea, Singapore, Australia, Indonesia and Malaysia climbed to new highs as all 10 industry groups that make up the Morgan Stanley Capital International Asia-Pacific excluding Japan Index gained.
Read more at Bloomberg Stocks News
Benchmarks in South Korea, Singapore, Australia, Indonesia and Malaysia climbed to new highs as all 10 industry groups that make up the Morgan Stanley Capital International Asia-Pacific excluding Japan Index gained.
Read more at Bloomberg Stocks News
Brazil Bovespa Rises to 50,000, Led by Vale, Petrobras; Mexico Bolsa Gains
(Bloomberg) -- Brazil's Bovespa index rose, surpassing 50,000 for the first time, led by state-controlled oil producer Petroleo Brasileiro SA and iron ore miner Cia. Vale do Rio Doce.
The Bovespa index of the most-traded stocks on the Sao Paulo stock exchange rose 519.18, or 1.1 percent, to 49,990.72, at 11:05 p.m. after rising as high as 50,022.42. Mexico's Bolsa index rose 183.51, or 0.6 percent, to 29,443.43.
Read more at Bloomberg Stocks News
The Bovespa index of the most-traded stocks on the Sao Paulo stock exchange rose 519.18, or 1.1 percent, to 49,990.72, at 11:05 p.m. after rising as high as 50,022.42. Mexico's Bolsa index rose 183.51, or 0.6 percent, to 29,443.43.
Read more at Bloomberg Stocks News
Copper Rises on Signs of Strengthening Demand From Manufacturers in U.S.
(Bloomberg) -- Copper futures rose for a fifth straight session in New York on signs of strengthening U.S. demand for the metal used in wires and pipes.
Orders placed with U.S. factories rose the most in a year in March and manufacturing grew in April at the fastest pace in almost a year, reports showed this week. Copper, which usually moves in tandem with economic growth, has gained 5.2 percent since April 27. The U.S. is the second-biggest user of copper, after China.
Read more at Bloomberg Commodities News
Orders placed with U.S. factories rose the most in a year in March and manufacturing grew in April at the fastest pace in almost a year, reports showed this week. Copper, which usually moves in tandem with economic growth, has gained 5.2 percent since April 27. The U.S. is the second-biggest user of copper, after China.
Read more at Bloomberg Commodities News
Crude Oil, Gasoline Futures Fall After Belgian Refinery Strike Is Averted
(Bloomberg) -- Crude oil and gasoline plunged after Belgian refiners and workers agreed to a new proposal to resolve a labor dispute and avert a strike.
Belgian oil workers had threatened to go on strike May 10 and halt operations at four refineries in Antwerp with a combined processing capacity of more than 600,000 barrels a day. Royal Dutch Shell Plc, Nigeria's largest foreign oil producer, expects its Forcados export facility in Nigeria to resume operations in June, the company's chief financial officer said today.
Read more at Bloomberg Energy News
Belgian oil workers had threatened to go on strike May 10 and halt operations at four refineries in Antwerp with a combined processing capacity of more than 600,000 barrels a day. Royal Dutch Shell Plc, Nigeria's largest foreign oil producer, expects its Forcados export facility in Nigeria to resume operations in June, the company's chief financial officer said today.
Read more at Bloomberg Energy News
Jobless claims fell 21,000 last week
(Reuters) - There were no special factors behind the drop in new claims, a Labor Department analyst told reporters. The last time initial claims were this low was for the week ending January 13, the government said.
Analysts polled by Reuters were expecting a 4,000 rise in claims from the previously reported level of 321,000 in the week ending April 21.
Read more at Reuters.com Business News
Analysts polled by Reuters were expecting a 4,000 rise in claims from the previously reported level of 321,000 in the week ending April 21.
Read more at Reuters.com Business News
U.S. service growth rises in April: ISM survey
(Reuters) - A number above 50 indicates growth in the sector.
The survey's new orders component was 55.5 in April, up from March's 53.8.
Read more at Reuters.com Business News
The survey's new orders component was 55.5 in April, up from March's 53.8.
Read more at Reuters.com Business News
BAT Q1 earnings top forecast, warns on FX impact
(Reuters) - Analysts' forecasts ranged from 21.5 pence to 23.5 pence in a Reuters poll.
Read more at Reuters.com Market News
Read more at Reuters.com Market News
Smith&Nephew unveils efficiency drive, earnings up
(Reuters) - The British firm said on Thursday it planned to lift trading margins by at least 1 percent a year for the next four years by improving information technology, procurement and sales and marketing, and using more low-cost manufacturing and sourcing.
Earnings per share before goodwill and one-off items rose 18 percent to 11.2 U.S. cents in the three months to March 31, on a 12 percent rise in revenue to $744 million.
Read more at Reuters.com Market News
Earnings per share before goodwill and one-off items rose 18 percent to 11.2 U.S. cents in the three months to March 31, on a 12 percent rise in revenue to $744 million.
Read more at Reuters.com Market News
UPDATE 1-EDO profit rises on stronger sales
(Reuters) - The company, which sells a range of electronics and engineering services to the U.S. military, reported first-quarter earnings of $6 million, or 29 cents per share, compared with a year-earlier net loss of $939,000, or 5 cents per share.
Revenue rose to $255.4 million from $119.7 million, when sales of electronics systems were weak, the company said.
Read more at Reuters.com Market News
Revenue rose to $255.4 million from $119.7 million, when sales of electronics systems were weak, the company said.
Read more at Reuters.com Market News
Agrium narrows first-quarter loss
(Reuters) - Canada's second-largest fertilizer producer reported a loss of $11 million, or 8 cents a share, for the period ended March 31. That compared with a loss of $48 million, or 37 cents a share, a year earlier.
Read more at Reuters.com Market News
Read more at Reuters.com Market News
IAC profit up with Ticketmaster, Web business
(Reuters) - Revenue rose 10 percent to $1.6 billion.
Analysts on average had forecast earnings per share of 33 cents, before special items, on revenue of $1.57 billion, according to Reuters Estimates.
Read more at Reuters.com Market News
Analysts on average had forecast earnings per share of 33 cents, before special items, on revenue of $1.57 billion, according to Reuters Estimates.
Read more at Reuters.com Market News
UPDATE 1-Strong rents boost Kimco Realty FFO
(Reuters) - First-quarter funds from operations, a real estate investment trust performance measure, rose to $202.8 million, or 78 cents a share, beating Wall Street's average forecast of 65 cents per share as compiled by Reuters Estimates.
A year earlier, Kimco posted FFO of $124.6 million, or 53 cents a share.
Read more at Reuters.com Market News
A year earlier, Kimco posted FFO of $124.6 million, or 53 cents a share.
Read more at Reuters.com Market News
Investment Technology quarterly profit falls
(Reuters) - Analysts had predicted earnings of 53 cents a share before items, according to Reuters Estimates.
Read more at Reuters.com Market News
Read more at Reuters.com Market News
Milacron shareholders OK 1-for-10 reverse split
(Reuters) - It will take up to two weeks to complete the necessary filings, Milacron said.
Read more at Reuters.com Market News
Read more at Reuters.com Market News
Manulife profit rises 3.5 pct after charge, div up
(Reuters) - It also announced a 10 percent dividend increase to 22 Canadian cents a share from 20 Canadian cents.
Read more at Reuters.com Market News
Read more at Reuters.com Market News
Canada's Dollar Rises Near Eight-Month High on Renewed Merger Speculation
(Bloomberg) -- Canada's dollar strengthened near an eight-month high on speculation international investors will purchase Canadian companies, fueling demand for the currency.
LionOre Mining International Ltd., a Toronto-based gold and nickel mining company, may be sold to OAO GMK Norilsk Nickel, the world's largest nickel producer, after the Moscow-based Norilsk bid C$5.3 billion.
Read more at Bloomberg Currencies News
LionOre Mining International Ltd., a Toronto-based gold and nickel mining company, may be sold to OAO GMK Norilsk Nickel, the world's largest nickel producer, after the Moscow-based Norilsk bid C$5.3 billion.
Read more at Bloomberg Currencies News
Treasuries Extend Declines After Services Index Touches Three-Month High
(Bloomberg) -- Treasuries extended declines after a private report showed U.S. service industries grew at a greater- than-forecast level last month.
The Institute for Supply Management's index of non- manufacturing businesses including banks, builders and retailers increased to 56. The median forecast in a Bloomberg News survey of economists was for a reading of 53. The level was 52.4 in March. Readings above 50 indicate expansion. Services account for 90 percent of the economy.
Read more at Bloomberg Bonds News
The Institute for Supply Management's index of non- manufacturing businesses including banks, builders and retailers increased to 56. The median forecast in a Bloomberg News survey of economists was for a reading of 53. The level was 52.4 in March. Readings above 50 indicate expansion. Services account for 90 percent of the economy.
Read more at Bloomberg Bonds News
UPDATE 1-Coeur d'Alene to buy Bolnisi, Palmarejo
(Reuters) - Bolnisi and Palmarejo own the Palmarejo project in Chihuahua, Mexico that is currently under construction, with annual production estimated at 12 million ounces of silver and 110,000 ounces of gold.
Under the arrangement, Bolnisi shareholders will get 0.682 of a Coeur share for each Bolnisi share they hold and Palmarejo shareholders will receive 2.715 Coeur shares for each Palmarejo share they own.
Read more at Reuters.com Mergers News
Under the arrangement, Bolnisi shareholders will get 0.682 of a Coeur share for each Bolnisi share they hold and Palmarejo shareholders will receive 2.715 Coeur shares for each Palmarejo share they own.
Read more at Reuters.com Mergers News
Dealers plan alternative Canada stock trade system
(Reuters) - It will also be designed so that trades are made on the best market available, considering current exchanges and other alternate trading systems being launched in Canada.
Dealers taking part are BMO Capital Markets, Canaccord Capital Corp., CIBC World Markets, National Bank Financial, RBC Capital Markets, Scotia Capital, and TD Securities.
Read more at Reuters.com Government Filings News
Dealers taking part are BMO Capital Markets, Canaccord Capital Corp., CIBC World Markets, National Bank Financial, RBC Capital Markets, Scotia Capital, and TD Securities.
Read more at Reuters.com Government Filings News
UPDATE 1-Charter Communications quarterly loss narrows
(Reuters) - The company reported a first-quarter net loss of $381 million, or $1.04 per share, compared with a net loss of $459 million, or $1.45 cents per share, a year earlier, when it also logged a $99 million impairment charge.
Revenue rose 8 percent to $1.43 billion.
Read more at Reuters.com Market News
Revenue rose 8 percent to $1.43 billion.
Read more at Reuters.com Market News
UPDATE 1-Morningstar net rises 18 percent, below estimates
(Reuters) - Morningstar, known for its star system of rating mutual funds' performances, said costs rose in the quarter due to the acquisitions, hurting operating margins.
Net income rose to $15.8 million, or 33 cents a share, from $13.4 million, or 29 cents a share, a year earlier. The analysts' average forecast was 36 cents a share, according to Reuters Estimates.
Read more at Reuters.com Market News
Net income rose to $15.8 million, or 33 cents a share, from $13.4 million, or 29 cents a share, a year earlier. The analysts' average forecast was 36 cents a share, according to Reuters Estimates.
Read more at Reuters.com Market News
UPDATE 1-Valassis quarterly profit falls
(Reuters) - First-quarter net income fell to $11.2 million, or 23 cents a share, from $18.1 million, or 38 cents a share, in the first quarter a year ago.
Revenue rose 45.9 percent to $361.3 million, mostly because of the ADVO acquisition.
Read more at Reuters.com Market News
Revenue rose 45.9 percent to $361.3 million, mostly because of the ADVO acquisition.
Read more at Reuters.com Market News
Andrew Corp. posts quarterly loss
(Reuters) - Andrew said its net loss was $1.96 billion, or 1 cent per share, compared with a net profit of $3.57 billion, or 2 cents per share, in the same period a year earlier. The latest results included 10 cents per share in expenses for amortization, restructuring, litigation and other costs.
Revenue rose 4 percent to $503 million from $482 million.
Read more at Reuters.com Market News
Revenue rose 4 percent to $503 million from $482 million.
Read more at Reuters.com Market News
Krishnan Bids $4.6 Billion for Rest of Malaysia Mobile-Phone Company Maxis
(Bloomberg) -- Malaysian billionaire T. Ananda Krishnan offered to buy full control of Maxis Communications Bhd., the country's biggest mobile-phone company, for 15.8 billion ringgit ($4.6 billion) to facilitate its overseas expansion.
Krishnan, 69, and partners offered 15.60 ringgit a share for the 40 percent of Maxis they don't own, 20 percent higher than the stock's closing price before it was suspended on April 27, CIMB Investment Bank Bhd. said in a release today. The purchase values Kuala Lumpur-based Maxis at 39.5 billion ringgit.
Read more at Bloomberg Emerging Markets News
Krishnan, 69, and partners offered 15.60 ringgit a share for the 40 percent of Maxis they don't own, 20 percent higher than the stock's closing price before it was suspended on April 27, CIMB Investment Bank Bhd. said in a release today. The purchase values Kuala Lumpur-based Maxis at 39.5 billion ringgit.
Read more at Bloomberg Emerging Markets News
Treasuries Little Changed as Jobless Claims, Productivity Level Decline
(Bloomberg) -- Treasuries were little changed after a report showed the number of workers who filed for first-time unemployment benefits last week declined to the lowest in more than three months and U.S. worker productivity last quarter grew at a slower pace.
The Labor Department in Washington said initial jobless claims totaled 305,000 in the week ending April 28, from a revised 326,000 during the previous period. The median estimate of 44 economists surveyed by Bloomberg News was for 325,000. The four-week moving average, a less volatile measure, fell to 328,750 from 333,250.
Read more at Bloomberg Bonds News
The Labor Department in Washington said initial jobless claims totaled 305,000 in the week ending April 28, from a revised 326,000 during the previous period. The median estimate of 44 economists surveyed by Bloomberg News was for 325,000. The four-week moving average, a less volatile measure, fell to 328,750 from 333,250.
Read more at Bloomberg Bonds News
TREASURIES-Bonds steady ahead of services, jobless data
(Reuters) - The Institute for Supply Management will also release its monthly services index, and analysts will pay close attention to the employment component to see if weakness in the U.S. housing sector is seeping into the job market. The services sector represents about 80 percent of the U.S. economy.
Weekly jobless claims are also due on Thursday, ahead of Friday's closely-watched nonfarm payrolls report. The U.S. economy is expected to have added 100,000 new jobs in April, according to a Reuters survey, down from 180,000 in March.
Read more at Reuters.com Bonds News
Weekly jobless claims are also due on Thursday, ahead of Friday's closely-watched nonfarm payrolls report. The U.S. economy is expected to have added 100,000 new jobs in April, according to a Reuters survey, down from 180,000 in March.
Read more at Reuters.com Bonds News
UPDATE 1-Cablevision posts narrower 1st-qtr loss
(Reuters) - Its net loss narrowed to $26.3 million, or 9 cents a share, compared with a loss of $58 million, or 20 cents a share, a year earlier.
Revenue rose 12.5 percent to $1.59 billion.
Read more at Reuters.com Bonds News
Revenue rose 12.5 percent to $1.59 billion.
Read more at Reuters.com Bonds News
Traders see April payrolls up 88,800 in auction
(Reuters) - The U.S. Labor Department will issue the April non-farm payroll report on Friday at 8:30 a.m. .
Investors use the auctions to hedge against surprises in the report, and traders also use the auctions to speculate on the outcome.
Read more at Reuters.com Economic News
Investors use the auctions to hedge against surprises in the report, and traders also use the auctions to speculate on the outcome.
Read more at Reuters.com Economic News
Ahold needs to expand into non-food retail - CEO
(Reuters) - "We need to extend our offer into non-food, we are starting to work on it. We will continue to work on that strategy," CEO Moberg said when shareholders asked management about media reports on Ahold's interest in acquiring Dutch retailer Hema, which mainly offers non-food products and has been put up for sale.
Moberg did not provide specifics and also did not confirm or deny the reports.
Read more at Reuters.com Mergers News
Moberg did not provide specifics and also did not confirm or deny the reports.
Read more at Reuters.com Mergers News
U.K. Pound Advances on Speculation Bank of England to Lift Interest Rates
(Bloomberg) -- The pound gained, snapping a two-day decline against the dollar, on speculation the Bank of England will keep raising interest rates next week in order to curb above-target inflation.
The U.K. currency fell yesterday after a central bank report showed lenders granted the fewest loans for home purchases since April 2006, and today failed to trade above the psychological $2 mark for the first time since April 17 as investors await tomorrow's U.S. payrolls report for last month.
Read more at Bloomberg Currencies News
The U.K. currency fell yesterday after a central bank report showed lenders granted the fewest loans for home purchases since April 2006, and today failed to trade above the psychological $2 mark for the first time since April 17 as investors await tomorrow's U.S. payrolls report for last month.
Read more at Bloomberg Currencies News
Yen under pressure as US data, Fed view underpin dollar
(Reuters) - The U.S. dollar was a shade firmer while the Japanese yen languished near lows on Thursday after firm U.S. manufacturing data reinforced the view that the dollar's relative yield advantage would remain for now.
The dollar was supported in part by a report the Federal Reserve was still more concerned about inflation than the risks to economic growth.
Read more at Reuters Africa
The dollar was supported in part by a report the Federal Reserve was still more concerned about inflation than the risks to economic growth.
Read more at Reuters Africa
Wall Street rallies on M&A, earnings; Dow at record
(Reuters) - U.S. stocks rallied on Wednesday, as robust profits and a flurry of buyout offers powered the Dow Jones industrials to a record high and the S&P 500 to its highest level in over six years.
Shares of manufacturing companies that sell their products abroad, such as appliance maker Whirlpool Corp. and lawn mower maker Toro Co., posted sharp gains after government data showed bigger-than-expected increases in U.S. factory orders.
Read more at Reuters Africa
Shares of manufacturing companies that sell their products abroad, such as appliance maker Whirlpool Corp. and lawn mower maker Toro Co., posted sharp gains after government data showed bigger-than-expected increases in U.S. factory orders.
Read more at Reuters Africa
Standard Bank buys controlling stake in Grayprop
(Reuters) - Standard Bank, Africa's biggest bank by assets, has bought fund manager Allan Gray's controlling stake in property unit trust Grayprop, the property company said on Thursday.
Grayprop said the transaction was subject to regulatory approval. It gave no financial details but said a further announcement will be made in due course.
Read more at Reuters Africa
Grayprop said the transaction was subject to regulatory approval. It gave no financial details but said a further announcement will be made in due course.
Read more at Reuters Africa
Bidvest to spend $223 mln on acquisitions
(Reuters) - South African services group Bidvest has agreed to buy Asia-based Angliss Foodservice and local fleet management firm Viamax in two deals worth $223 million, the company said on Thursday.
Bidvest, South Africa's biggest company by revenue, said it had agreed in principle to acquire state-owned rail utility Transnet's fleet management and leasing business Viamax Holdings for 1 billion rand.
Read more at Reuters Africa
Bidvest, South Africa's biggest company by revenue, said it had agreed in principle to acquire state-owned rail utility Transnet's fleet management and leasing business Viamax Holdings for 1 billion rand.
Read more at Reuters Africa
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