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ZTR Acquisition Corp. Disposes of Oil and Gas Assets in Debt Settlement Transaction

1 week ago DieselGasoil Comments Off on ZTR Acquisition Corp. Disposes of Oil and Gas Assets in Debt Settlement Transaction
VANCOUVER, British Columbia, June 19, 2019 (GLOBE NEWSWIRE) — ZTR Acquisition Corp. (formerly, Oyster Oil and Gas Ltd.) (the “Company”) announces that it has transferred all of the outstanding share capital of the Company’s wholly-owned operating subsidiary, Oyster Oil & Gas Limited (“Subco”), to Northbay Capital Partners Corp. and Gunsynd PLC (collectively, the “Creditors”), in Read More

Carrefour sees more retail sector consolidation, including in France

2 weeks ago DieselGasoil Comments Off on Carrefour sees more retail sector consolidation, including in France
PARIS (Reuters) – The boss of Carrefour said on Friday the retail sector was bound to consolidate in the coming years, notably in France, as competition intensifies, and that his mission was to make sure the French retailer came out a winner. FILE PHOTO: Alexandre Bompard, Chief Executive Officer of French retailer Carrefour, poses before Read More

Philip Green’s Arcadia avoids collapse as creditors back deal

2 weeks ago DieselGasoil Comments Off on Philip Green’s Arcadia avoids collapse as creditors back deal
LONDON (Reuters) – Philip Green’s Topshop-to-Dorothy Perkins fashion empire staved off a collapse into administration on Wednesday as creditors approved his sweetened restructuring plan. FILE PHOTO: People walk past a Topshop and Topman store, owned by Arcadia Group, in central London, Britain, June 5, 2019. REUTERS/Henry Nicholls/File Photo The restructuring will close stores, cut rents Read More

Zell, other former Tribune executives reach $200 million settlement over LBO

2 weeks ago DieselGasoil Comments Off on Zell, other former Tribune executives reach $200 million settlement over LBO
(Reuters) – Real estate billionaire Sam Zell and other former officers and directors of Tribune Co have reached a $200 million settlement resolving allegations of fraudulent transactions related to the media company’s disastrous 2007 leveraged buyout. FILE PHOTO: Sam Zell, founder and chairman at Equity Group Investments, speaks during the SALT conference in Las Vegas, Read More

G20 finance chiefs express concern over risks from ‘intensified’ trade conflict

3 weeks ago DieselGasoil Comments Off on G20 finance chiefs express concern over risks from ‘intensified’ trade conflict
FUKUOKA, Japan (Reuters) – Group of 20 finance leaders on Sunday said that trade and geopolitical tensions have “intensified”, raising risks to improving global growth, but they stopped short of calling for a resolution of a deepening U.S.-China trade conflict. Christine Lagarde, managing director of the International Monetary Fund (IMF), gestures in front of Bank Read More

G20 finance chiefs cite ‘intensified’ trade row, but don’t call for its resolution

3 weeks ago DieselGasoil Comments Off on G20 finance chiefs cite ‘intensified’ trade row, but don’t call for its resolution
FUKUOKA, Japan (Reuters) – Group of 20 finance leaders said on Sunday that trade and geopolitical tensions have “intensified”, raising risks to improving global growth, but they stopped short of calling for a resolution of a deepening U.S.-China trade conflict. Christine Lagarde, managing director of the International Monetary Fund (IMF), gestures in front of Bank Read More

Prosafe SE: Prosafe and Floatel seek merger in challenging and changing market

3 weeks ago DieselGasoil Comments Off on Prosafe SE: Prosafe and Floatel seek merger in challenging and changing market
Prosafe SE (“Prosafe”, Oslo Stock Exchange ticker PRS) and Floatel International Ltd (“Floatel”) have today signed an agreement to merge their respective businesses. The aim is to create a more robust company with improved services and geographical presence, able to sustain a prolonged cyclical downturn and challenging markets for offshore accommodation. Prosafe SE, Stavanger, is Read More

White Star Petroleum, LLC explores strategic alternatives, including voluntary Chapter 11

4 weeks ago DieselGasoil Comments Off on White Star Petroleum, LLC explores strategic alternatives, including voluntary Chapter 11
5/28/2019 OKLAHOMA CITY — White Star Petroleum, LLC has announced that it is exploring strategic alternatives, including the sale of its business as a going concern and the restructuring of its balance sheet in a court-supervised process. The company also announced that it has received $28.5 million in committed “debtor-in-possession” (DIP) financing to bolster liquidity Read More

Analysts slash Seadrill’s target price by 88%

1 month ago DieselGasoil Comments Off on Analysts slash Seadrill’s target price by 88%
By Mikael Holter on 5/27/2019 Photo: Seadrill’s target price is cut by 88%. OSLO (Bloomberg) — Amid mounting recovery concerns, Seadrill Ltd. plunged to their lowest since the embattled drilling company emerged from bankruptcy less than year ago, when Carnegie Investment Bank AB recommended selling their shares and slashed the price target by 88%. The Read More