Did you know that:
- Minority shareholders of both Nigerian Breweries Plc and Consolidated Breweries Plc are expected to decide on the merger of the two entities next month. The Board of Directors of Consolidated Breweries in compliance with a court order mandating its Board to convene a strategic meeting with shareholders to review, and if deemed fit, approve, has set December 4, 2014 as the date of a meeting with its shareholders over the proposed merger with Nigerian Breweries.
- Halliburton agreed to buy its smaller rival, Baker Hughes for $34.6 billion. Together, both are expected to save nearly $2 billion in costs through a combination of operations, research and development.
- OANDO Nigeria Plc, received shareholders approval to divest any/all the company's shareholding and investment in the downstream business by way of sale, transfer and /or any other form of disposition which is in the best interest of the company, subject to the regulatory authorities.
- Technip of France disclosed that it had approached CGG, an oil services company, about a potential takeover and offered to acquire the smaller company for about 1.46 billion euros, approximately $1.8 billion. The deal, if consummated, would combine Technip, which provides engineering and construction services to the energy industry, with CGG, a provider of equipment and geological data processing services to the sector. The combined company, which would have about 50,000 employees, would have had revenue of roughly €12 billion in 2013.
- Skye Bank Plc has completed the purchase of 100 per cent shares of Mainstreet Bank from the Assets Management Corporation of Nigeria (AMCON). The last tranche of the money for Mainstreet Bank acquisition was paid to AMCON on Friday, October 31, well ahead of the November 3 deadline. The 80 per cent balance payment was made to AMCON in fulfillment of the Share Sale and Purchase Agreement.
- The Shell Petroleum Development Company of Nigeria Limited (SPDC), a subsidiary of Royal Dutch Shell plc (Shell), has completed the assignment of its 30% interest in Oil Mining Lease 24 (OML24) and related facilities in the Eastern Niger Delta to Newcross Exploration and Production Limited.
These are just a few of the highlights contained in this eight edition of the Perchstone & Graeys’ Mergers & Acquisition team's ‘Merger & Acquisition Watch’; a fortnightly e-publication that seeks to educate and inform a discerning audience of the unfolding trends, in a manner ideal for strategic decision making. To read more of this edition, click here. To recieve the publication by email, kindly confirm by email to firstname.lastname@example.org.