Investors await sales windfall from Inchcape
Article Abstract:
Inchcape PLC has announced plans to return to investors a large amount of cash generated from a host of proposed divestitures in 1999. The move comes as the firm, redefining itself as a focused international motor-distribution business, posted interim pretax profits of $97.8 million for the six months ended June 30, 1998, and updated investors on a restructuring program. Inchcape reached an agreement for the sale of its bottling operations in Russia for $187 million in Coca-Cola. The company also made a decision to drop plans to float its South American Coke bottling operations in favor of a cash sale, with advanced talks with Embotelladora Arica SA, a local Coke bottler.
Comment:
Announces plans to return to investors a large amount of cash generated from a host of proposed divestitures in 1999
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
GKN targets acquisitions in near term
Article Abstract:
GKN PLC, with a cash surplus of 261 million pounds sterling ($427.4 million) at the end of the first half of 1998, is poised to purchase firms to fuel its growth. The strategy, revealed by David Turner, the company's finance director, will be aimed at growing its aerospace, powder-metallurgy and off-highway vehicles operations. The company, which reported profits before items of 228 million pounds sterling, a 12% improvement for the same period in 1997, did not discount the possibility of a stock repurchase but said that the move is not being considered.
Comment:
Is poised to purchase firms to fuel its growth
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
Racal set to detail data unit sale
Article Abstract:
Racal Electronics PLC is expected to sell its data-communications unit on Aug. 7, 1998. The losing subsidiary is expected to be acquired by Platinum Equity Holdings of the US for about 100 million pounds sterling ($164 million). Racal, which will delay posting its 1998 results to Mar. 31, 1999, in order to reflect the impact of the divestiture in its financial report, is expected to post a profit of 23.5 million pounds sterling after the sale, a figure projected by both Salomon Smith Barney analyst Mark David Jones and Merill Lynch's Andrew Clifton.
Comment:
Is expected to sell its data-communications unit on 8/7/98
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Market sectors: domestic: winter. Market sectors: domestic: region
- Abstracts: Merita vaults to the lead in the on-line banking race. Russian bank appears close to failure. Deutsche Bank faces review of foreign ties
- Abstracts: GE Capital sees expansion. Small firms are among those that did best for holders. Phone company in comeback
- Abstracts: Time Warner sharpens its vision of Europe. Music channel rivalry hots up. Viagra win hardens Carat's resolve
- Abstracts: Bayer pledges to go it alone for now, plays down drag from Asian crisis. BASF reports profit growth but fears stay