VoLGa-dnEPR acQUIRES SHaRE In aIR caRGo GERManY
Volga-dnepr Logistics B.V. recently acquired Frankfurt Hahn-based carrier air cargo Germany (6U) for a 49% stake, according to atW daily news.
The Russian cargo group’s subsidiary, AirBridgeCargo Airlines (ABC), will synchronize its schedule with 6U, according to the ABC executive president, Tatyana Arslanova.
Founded in 2008, 6U operates four Boeing 747-400s on several routes including China, South Africa, India and the UAE.
Arnecke Siebold was involved in this deal and the firm’s comprehensive understanding and expertise in relation to corporate, aviation as well as com- petition law made for an efficient and successful completion of the deal. The Arnecke Siebold team was led by Dr. W. Scholl (Corporate), U. Steppler (Aviation) and Dr. W. Blau (Competition/ Antitrust). LM
BEacH EnERGY $345 MILLIon non- REnoUncEaBLE EntItLEMEnt oFFER
BEacH Energy recently announced its intentions to raise $345 million via a capital raising and convertible note issue, with the raising including an underwritten one for eight pro-rata accelerated non-renounceable entitlement offer, to raise $195 million.
The company is also aiming to raise $150 million in senior, unsecured convertible notes.
BEACH Energy’s Managing Director, Reg Nelson, said in a statement: "Beach is entering a new and exciting development and exploration phase, which we believe has the potential to transform not only Beach, but also the Cooper Basin and the east coast gas market for years to come."
The company hopes to spend $650 million on capital expenditure by the end of the financial year 2012-13. This will include projects in Egypt, Tanzania and Southern Australia. LM
Air Cargo Germany