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Stocks to watch: GLP, Rotary, Noble, FSL Trust
THE following companies saw new developments that may affect trading of their shares on Monday:
Global Logistic Properties (GLP): Global Logistic Properties (GLP) said before trading hours on Monday that the company and its subsidiaries will acquire leading European logistics platform, Gazeley, for about 2.4 billion euros (S$3.8 billion). The deal is supported by Nesta Investment Holdings Ltd, which has offered to buy out all shares in GLP and take the Singapore-listed entity private.
Rotary Engineering: Orochem Pte Ltd, made up of an investment arm of the Oman government and Oro Gold Pte Ltd, has announced a proposal to take engineering design company Rotary Engineering Limited private. Rotary last traded at S$0.41, up three cents.
Noble Group: Noble Americas Corp on Monday announced that it had completed the sale of a unit, Noble Americas Gas & Power Corp, to Mercuria Energy America Inc, for US$102 million. Noble's shares last traded at S$0.395, up 10 cents.
FSL Trust: A deal calling on Navios Maritime Holdings Inc to inject a mix of equity and debt financing into FSL Trust and its affiliates is no longer on the table. FSL last traded at 8.9 Singapore cents, down 0.1 cent.