THG to acquire Bentley Technologies; partners up with SoftBank
Mon, 10th May 2021 19:23
(Alliance News) - THG PLC on Monday said it has inked a financial and trading partnership with SB Management Ltd, a subsidiary of SoftBank Group Corp, under which both parties will explore potential commercial arrangements between each other.
The collaboration comprises a USD730 million subscription by SBM in THG shares as well as an option to subscribe for a 20% interest in THG Ingenuity, which is worth USD1.6 billion, implying an enterprise value of USD6.3 billion.
THG Ingenuity comprises the Hut group owner s Ingenuity platform IP as well as its operating trade and assets.
Darktrace Shares Surge 44% in Trading Debut After London IPO
Swetha Gopinath and Amy Thomson, Bloomberg News Computer code displayed on screens arranged in Danbury, U.K., on Thursday, Jan. 7, 2021. In the spring, hackers managed to insert malicious code into a software product from an IT provider called SolarWinds Corp., whose client list includes 300,000 institutions. Photographer: Chris Ratcliffe/Bloomberg , Bloomberg
(Bloomberg) Cybersecurity company Darktrace Plcâs shares jumped as much as 44% in its first day of trading after raising 165.1 million pounds ($230 million) in a London initial public offering.
The stock, which had been priced at 250 pence per share in the IPO, jumped 31% to 326.50 pence at 8:33 a.m. London time after earlier touching 359.65 pence. The stock sale, which included 66 million shares, gave Darktrace an initial market value of about 1.7 billion pounds, the company said in a statement Friday.
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Chief Executive Officer Mike Wirth surprised investors by restoring the million-barrel Permian target.
(Bloomberg) Chevron Corp. revived aspirations to pump 1 million barrels a day in the Permian Basin after drastic budget and job cuts trimmed operating costs.
Chevron plans to ramp up investment in North America’s biggest oil field through 2025, reversing the pandemic-driven production decline, the company said in an investor presentation Tuesday. Chief Executive Officer Mike Wirth surprised investors by restoring the million-barrel Permian target only a year after it disappeared from the company’s guidance as Covid-19 crashed energy markets.
The California oil titan expects its Permian wells to generate $3 billion in free cash flow by the middle of the decade, assuming international crude prices average $50 a barrel. The region straddling West Texas and New Mexico incurred the deepest spending cuts in last year’s pullback amid the oil market’s unprecedented collapse.