Global

Statoil completes acquisition of 35% stake in Exxon SA
JSE SENS

Statoil completes acquisition of 35% stake in Exxon SA

Statoil has said it has completed a transaction with Exxon Mobil Exploration and Production South Africa Limited acquiring a 35% interest in Exploration Right 12/3/252 Transkei-Algoa. Operator ExxonMobil retains 40% interest, while Impact Africa holds 25%.The license covers approximately 45,000 square kilometres in water depths up to 3,000 metres. Statoil […]

AkzoNobel announces new management structure
Global

AkzoNobel announces new management structure

AkzoNobel has announced a new management structure for its Paints and Coatings business in advance of creating two focused high-performing businesses; Paints and Coatings and Specialty Chemicals. This announcement follows the recently communicated changes to the Executive Committee, including the appointment of Ruud Joosten as Chief Operating Officer and David […]

Kinnevik’s Global Fashion Group cuts down its losses
Global

Kinnevik’s Global Fashion Group cuts down its losses

Global Fashion Group, the emerging markets fashion retailer owned by investors Kinnevik and Rocket Internet, said its second-quarter operating losses nearly halved as net revenue jumped by 25.6 percent. Accrding to the company, Adjusted EBITDA margin improved by 6.0 percentage points to (4.3)% of Net Revenue. At EUR12.1 million for […]