Shares in Malaysia's FGV Holdings Bhd closed almost 21% higher on Tuesday after state-owned Felda failed in its bid to take the world's largest crude palm oil producer private.
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DUBAI (Reuters) - Dubai state developer Nakheel is considering the sale of its district cooling assets, three sources familiar with the matter told Reuters, as real estate companies in the United Arab Emirates sell assets amid the coronavirus downturn.
FILE PHOTO: The logo of Nakheel is seen on at the entrance of its office in Dubai, United Arab Emirates July 27, 2017. REUTERS/Alexander Cornwell
Nakheel, the developer of the emirate’s palm-shaped islands, has hired financial advisory Synergy Consulting to manage the process, said two of the sources who declined to be named as the matter was not public.
By Reuters Staff
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(Reuters) - Bain Capital-owned Diversey Holdings Ltd, which provides cleaning and hygiene products, said on Tuesday it was aiming for a valuation of up to $6.38 billion in its initial public offering in the United States.
Diversey is seeking to raise up to $970 million in its IPO from selling about 46.2 million shares priced between $18 and $21 apiece, according to the company’s filing.
Bain had acquired Diversey in 2017 from Sealed Air Corp for about $3.2 billion. The Boston-based private equity firm later acquired UK-based Zenith Hygiene Group, which was then merged with Diversey.
Diversey provides sanitation products for sectors including food and beverage, healthcare, hospitality and retail.
By Reuters Staff
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(Reuters) - Electric utility company FirstEnergy Corp said on Tuesday it would add two members backed by activist investor Carl Icahn to its board.
The company, which last week named a new chief executive officer after a bribery scandal led to the ouster of its former boss and two other executives, will appoint Icahn Capital employees Andrew Teno and Jesse Lynn to the board.
Following the addition, the company’s board will have 14 directors, FirstEnergy said.
The two new directors will serve on committees focused on helping the company improve its compliance.
The Akron, Ohio-based utility said in February that Icahn was looking to buy a stake worth between $184 million and $920 million, citing a letter from him dated Feb. 16.
By Reuters Staff
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(Reuters) - New Zealand’s Fonterra said on Wednesday it will sell its joint venture farms in China and its remaining stake in infant formula maker Beingmate as it looks to move its focus from Beijing and prioritise domestic operations.
FILE PHOTO: The Fonterra logo is seen near the Fonterra Te Rapa plant near Hamilton August 6, 2013. REUTERS/Nigel Marple
Fonterra also posted half-year results, with a 43% surge in adjusted profit due to robust demand from China and firmer global dairy prices.
The world’s biggest dairy exporter has been shifting its focus back home since 2019, when it halted an ambitious overseas expansion plan that drew sharp criticism from the 10,000 plus farmers who make up its cooperative.