Uber Stock Still Underwater for Saudi Arabia, Three Years Later - Bloomberg:
Arriving late to a party can be great for those looking to make a splashy entrance. But for most Uber Technologies Inc. financiers who joined at the tail end of its tenure as a private company, not so much.
A private investment by Saudi Arabia’s sovereign wealth fund nearly three years ago is still worth less than at the time of purchase. The fund, overseen by the controversial Saudi Crown Prince Mohammed bin Salman, invested in June 2016 at $48.77 a share. The stock closed its first day of trading Friday at $41.57.
Japan’s Toyota Motor Corp. and SoftBank Group Corp. are sitting on stakes of at least $500 million each that they bought last year at the same price as the Saudi fund. But Toyota had a prior stake, disclosed in 2016, and SoftBank was able to acquire a much bigger chunk of shares at a lower price in 2018.
Saturday, 11 May 2019
Etihad submits bid for India's Jet, eyes minority stake - Reuters
Etihad submits bid for India's Jet, eyes minority stake - Reuters:
Middle Eastern carrier Etihad Airways has submitted a bid for a stake in India’s Jet Airways, the unit of State Bank of India (SBI) overseeing the sale of the stricken airline said on Friday.
SBI had invited binding bids for a stake in the airline, which is saddled with roughly $1.2 billion in bank debt. Binding offers were due by 1800 IST (1230 GMT) on Friday.
Etihad, which already holds a minority stake in Jet, is interested in re-investing in the airline, subject to certain conditions, a spokesman for the Middle Eastern carrier said earlier on Friday.
Middle Eastern carrier Etihad Airways has submitted a bid for a stake in India’s Jet Airways, the unit of State Bank of India (SBI) overseeing the sale of the stricken airline said on Friday.
SBI had invited binding bids for a stake in the airline, which is saddled with roughly $1.2 billion in bank debt. Binding offers were due by 1800 IST (1230 GMT) on Friday.
Etihad, which already holds a minority stake in Jet, is interested in re-investing in the airline, subject to certain conditions, a spokesman for the Middle Eastern carrier said earlier on Friday.
#Abraaj founder given more time to raise 15 million pound bail - Reuters
Abraaj founder given more time to raise 15 million pound bail - Reuters:
The Pakistani founder of Abraaj Group, once one of the largest emerging markets private equity investors, has been given more time to raise a 15 million pound ($19.5 million) bail by a London court, a court official said on Friday.
Arif Naqvi was arrested in Britain last month and has been awaiting possible extradition to the United States where he faces charges of defrauding investors.
Naqvi was remanded in custody after the bail hearing at Westminster Magistrates Court on Friday was adjourned until May 17 because he failed to pay the bail conditions, the official said.
The Pakistani founder of Abraaj Group, once one of the largest emerging markets private equity investors, has been given more time to raise a 15 million pound ($19.5 million) bail by a London court, a court official said on Friday.
Arif Naqvi was arrested in Britain last month and has been awaiting possible extradition to the United States where he faces charges of defrauding investors.
Naqvi was remanded in custody after the bail hearing at Westminster Magistrates Court on Friday was adjourned until May 17 because he failed to pay the bail conditions, the official said.
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