KCA Deutag are rumoured to be in exclusive talks with Saipem over their onshore drilling activities. Saipem have 66 rigs (compared to KCA Deutag’s 76), which generate
Read MoreThe CMA (not the shipping giant, but the Competition and Market Authority) has authorised Ranjit Boparan’s takeover of Banham Poultry. The acquisition was originally
Read MoreHaya has reached another milestone on their path through restructuring, with 84.44% of bondholders signing the lock-up agreement. Note, the Adhoc committee accounts for
Read MoreWe finally clarified some outstanding issues with IR yesterday all of which were minor in detail. We haven’t changed our assumptions in our models, but expect the
Read MoreKCA announced this morning that they have (been forced to) sell their 5 rigs based in Nigeria. The sale reflects the recent Nigerian "Local Content Act", which encourages
Read MoreTullow has appointed a new CFO, Jonathon Swinney, who is familiar to High Yield investors and the incumbent CFO of Enquest. Jonathon was
Read MoreRallye announced a tender for €247m of unsecured Rallye debt at 15%. Rallye is using the unused balance of February 2021 tender facility provided by Fimalac. The arranged facility was originally
Read MoreThe UK competition authority (CMA) will give its decision on the acquisition of poultry farming and processing assets of Banham by 25 March. The assets are owned by
Read MoreKCA released a non-committal email this morning referring to its Russian operations. This is likely in response to several questions from analysts, including ourselves, seeking
Read MoreThe Spanish government has approved a law allowing cost pass-through for public works contracts signed before 2021. The construction trade body is now asking for
Read MoreVallourec has completed its selection process and has appointed Philippe Guillemot as Chairman and CEO. Mr Guillemot was f
Read MoreTullow completed the acquisition of the pre-emption of the sale of Occidental stake in the Ghanian fields. The completion price was $118m, which will be
Read MoreRallye released its Annual Report late last night with little new information to the market. We are a little surprised that there is only
Read MoreP&O Ferries, owned by DP-Wold in Dubai and the UK’s largest ferry operator, has asked all ships to remain in port today “ahead of a major announcement”. Press is speculating on
Read MorePress reports are citing a confidential report issued by Corestate of significant losses on a property development in Düsseldorf. These relate to low
Read MoreThe company today confirmed it will be repaying its €400m April bond on time. This should not be much news, but it does drive the share price. Also today, the
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