coRPoRatIon (REc) tax FREE Bond ISSUancE
State-run Power Sector lender Rural Electrification corporation Limited (REc) tax Free Bond issue closed on March 12, according to cnBc-tV18. they planned to raise Rs 3000 crore. M.V. Kini & co. acted as Legal advisor to the issue.
At 10:00 hrs the share was quoting at Rs 215.55, up Rs 3.25, or 1.53%. It touched an intraday high of Rs 218.00 and an intraday low of Rs 210. It was trading with volumes of 23,535 shares. In the previous trading session, the share closed up 8.04% or Rs 15.80 at Rs 212.30.
REC finances and promotes rural electrification projects across India and the funds raised are set to be used to finance its disbursement target of Rs 24,000-26,000 crore in 2011-12. LM
coUcHE-taRd Inc acQUIRES StatoIL FUEL and REtaIL FoR $2.8 BILLIon
Statoil Fuel & Retail aSa (oslo Børs, ticker: SFR) ("Statoil Fuel & Retail" or the "company") announced recently an agreement with alimentation couche-tard Inc. ("couche-tard"; tSx: atd.a and atd.B) whereby couche-tard, through its indirect wholly-owned subsidiary couche-tard norway aS, is launching a voluntary cash offer (the "offer") for 100 percent of the shares of Statoil Fuel & Retail at a consideration of noK 53 per share (before reduction for any dividends and other distributions after 31 december 2011). the offer values the total share capital of Statoil Fuel & Retail at noK 15.9 billion.
The Offer price represents a premium of 52.5 percent to the closing price on 17 April 2012, the last trading day prior to the announcement of the Offer, and a premium of 47.6 percent, 41.2 percent and 31.7 percent respectively to the volume weighted average share prices in the one, three and six month peri- ods ending on 17 April 2012.
The Board of Directors of Statoil Fuel & Retail (the "Board") has decided to rec- ommend to its shareholders that they accept the Offer. In addition, all Board members and members of the executive management holding shares di- rectly or through investment companies intend to accept the Offer in respect of the shares they hold, subject, in the case of shares acquired by management under incentive programmes, to any transfer restrictions that may apply thereunder. LM
Statoil Fuel and Retail
Rural Electrification Corporation