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...“South-east Asia’s proximity, culture, language and natural resources mean it is a big attraction for Chinese corporates.”...
...US hedge fund Elliott Management has been buying the bonds of troubled British utility company Thames Water, in a bet that markets have grown too pessimistic over the size of losses that investors may have...
...Why Elliott is stuck in AC Milan’s legal mess When Elliott Management sold AC Milan for a record-breaking €1.2bn in 2022 to private equity group RedBird Capital Partners, it was seen as a coup....
...China’s Yintai Gold last month stepped in to buy Osino Resources for C$368mn in cash ($272.53mn). This topped that of Osino’s local rival Dundee Resources....
...‘cutting the grass and weeds’, and in a lot of our portfolios we consider whether sheep are a practical option . . . in some instances it’s a really natural fit.”...
...Traders are marking a riskier £250mn “class B” bond at little over 60 pence in the pound....
...Natural gas prices plunge as US set for its warmest winter on record....
...Brent crude, the international marker, rose by a similar margin to settle at $87.42/b....
...Exxon is buying Pioneer Natural Resources, the biggest producer in the Permian, for $60bn, while Chevron is paying $53bn for Hess, giving it access to the Guyana discovery as well as assets in the Bakken...
...Elliott is also willing to leverage the $65bn it has under management to go after larger deals if the opportunity arises....
...Waste-management companies like Republic Services also say they see an opportunity for profit....
...We’ve talked about TRAs before, most notably in the buyout of Sculptor Asset Management last year....
...John Barrasso, the top Republican on the Senate energy and natural resources committee, slammed Biden for “doing all he can to make it economically impossible to produce energy on federal lands”....
...Now, according to an analysis of Fema data by the E&E News website, this doubling of rates will become a reality in 800 of 3,000 counties....
...Chevron’s rival ExxonMobil agreed to acquire Texas shale producer Pioneer Natural Resources earlier this month for an enterprise value of $64bn....
...Exxon is in the process of closing a $60bn deal for Pioneer Natural Resources, the biggest producer in the Permian....
...Brent Berg, president and chief executive of Rare Element Resources, a minerals company, will join Uranium Energy Corp, a North American uranium company, as senior vice-president of US operations....
...ExxonMobil has agreed to buy Pioneer Natural Resources in a $59.5bn deal that is set to unleash a wave of consolidation in the US shale oil industry....
...Deploying the DPA to support their production could be an important part of a commodity risk-management regime....
...Alongside Continental Resources boss Harold Hamm, Hess transformed the state from producing fewer than 100,000 barrels of oil a day in the early 2000s to a peak of 1.5mn b/d in 2019....
...There is more room for M&A A flurry of mega oil and gas deals in quick succession tied off 2023: ExxonMobil-Pioneer Natural Resources at $60bn; Chevron-Hess at $53bn and Occidental-CrownRock at $12bn....
...At full capacity, the refinery will process 650,000 b/d, which could transform the country into a net exporter of refined fuels....
...The Japanese electronics group has announced plans to sell part of its automotive systems business to US private equity group Apollo Global Management....
...The US oil refiner Phillips 66 has become the latest target of Elliott Management after the activist investor took a $1bn stake and called for new blood on the company’s board to remedy “underperformance...
...What makes the resources sector unique, however, is that it generates cash by selling its fixed assets. Most industrial firms derive revenues by continually producing current assets....
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