Accept exit offer for Chemoil: IFA
THE independent financial adviser (IFA) to the exit offer for Chemoil Energy has advised its independent directors to recommend that shareholders accept the offer.
A subsidiary of Glencore Xstrata - the fourth-largest diversified mining firm globally - is seeking to take the mainboard-listed firm private at US$0.40 a share.
Singfuel Investment, a holding company, already owns 89.2 per cent of Hong Kong-incorporated Chemoil. This represents a 29 per cent premium over the last transacted price of US$0.31 on Feb 20 this year.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
TikTok tells advertisers: ‘We are not backing down’
EV automakers get reprieve in US tax credit rules
Nomura, Mizuho face losses on All Blue fund’s failed trades
Stablecoin Tether steps up monitoring in bid to combat illicit finance
HSBC asked by US$890 billion investor group to set energy goal
BHP’s biggest rivals sit on the sidelines of Anglo M&A drama