Electra offers shareholders buyback

Article Abstract:

Electra Investment Trust PLC has made an offer to stockholders to purchase 40% of its stock. The purchase price would be 786 pence ($12.78) per share. The offer will cost 544 million pound sterling. It will be funded by a syndicated loan worth 750 million pound sterling. Electra will also ask stockholders to support a plan to sell the company's investments over the next five-year period.

Comment:

Makes an offer to stockholders to purchase 40% of its stock

Abstract

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Electra proposes share buyback, asset liquidation. (Electra Investment Trust PLC)

Article Abstract:

Financial holding company Electra Investment Trust PLC plans to buy back 40% of its shares and divest some of its assets as it fends off acquisition offer from 3i Group PLC. Electra Investment Trust's plan was presented at its shareholders meeting. It has secured $750 million from National Westminster Bank PLC and J.P. Morgan and Company Inc., to finance the stock buy back.

Comment:

Financial holding company Electra Investment PLC, fends off . 3i Group PLC, plans to buy back stock.

United States, Commercial Banks, Commercial Banking, Strategy & planning, Banking industry, Planning, Contracts, National Westminster Bank PLC (London, England), J.P. Morgan and Company Inc., JPM, 3i Group PLC

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Eurafrance share buyback is valued at up to 519 million euros

Article Abstract:

Eurafrance, a unit of the Lazard banking group, introduced the details of its plan to repurchase shares. The shares are valued at approximately 519 million euros.

France, Eurafrance

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