Premier Oil confirms its intent to sell some noncore assets

Article Abstract:

Premier Oil PLC confirmed news of its intention to divest part of its noncore assets in the UK, although it has not yet agreed on any sale deal and the price is still undetermined. Williams de Broe analyst Peter Hitchens welcomes the move as he sees that there is little need for the company's smaller interests in the North Sea since it will be concentrating on its large projects in Pakistan and Burma. The divestiture should improve the company's debt-to-equity ratio with the sale of some 60 million pounds sterling of assets.

Comment:

Confirms news of intention to divest part of noncore assets in UK, although it has not yet agreed on any sale deal

Crude Petroleum and Natural Gas Extraction, Crude Petroleum & Natural Gas, Petroleum industry, Natural gas, Petroleum, Gas industry, Premier Oil PLC, Article

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Chesterfield Properties prepares to sell its assets

Article Abstract:

Chesterfield Properties PLC will sell of its assets in an attempt to reverse its poor stock results in 1998. However, Chesterfield is expected to receive less that what it is hoping for because its 1998 net asset value per share will be much lower than what had been expected. The company believes that it is better idea to return sale proceeds to stockholders through share repurchases than it is to stay as a listed firm. This will increase shareholder value according to Chesterfield.

Comment:

To sell of its assets to reverse its poor stock results in 1998

Financial management, Real Estate, Real Estate and Rental and Leasing, Real estate industry, Chesterfield Properties PLC

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NTL pulls bid for Newcastle United

Article Abstract:

NTL Inc. announced that it is terminating its potential offer to acquire Newcastle United PLC. NTL, a media firm, said that it ended its bid for Newcastle because of the Department of Trade and Industry's April 9, 1999 ruling in the UK to prohibit BSkyB PLC's planned acquisition of Manchester United PLC. NTL said it was still committed to expanding the choice of sports programming for its customers.

Comment:

NTL terminating potential offer to acquire Newcastle United

Acquisitions & mergers, Communications, Broadcasting and Telecommunications, Sports Teams and Clubs, Professional Soccer, England, Telecommunications services industry, Telecommunications industry, NTL Inc., Sports franchises, Newcastle United PLC

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