Other News

Breaking: Femi Otedola to sell 75% stake in Forte Oil
Energy

Breaking: Femi Otedola to sell 75% stake in Forte Oil

Forte Oil Plc has announced that its founder and CEO, Femi Otedola will be divesting about 75% stake of his equity in the company. The company said in a statement that: “Forte Oil Plc hereby notifies the Nigerian Stock Exchange, Securities and Exchange Commission, Shareholders and the investing community that […]

Rio Tinto completes sale of Grasberg mine
Global

Rio Tinto completes sale of Grasberg mine

Rio Tinto has completed the sale of its entire interest in the Grasberg mine in Indonesia for $3.5 billion. The transaction is part of a series of transactions involving Inalum (PT Indonesia Asahan Aluminium (Persero)), Indonesia’s state mining company, and Freeport McMoRan Inc. Rio Tinto chief executive J-S Jacques said […]

BRIEF: Novartis acquires Endocyte
Global

BRIEF: Novartis acquires Endocyte

Novartis today announced that it has completed the acquisition of Endocyte, Inc., a US-based biopharmaceutical company focused on developing radioligand and CAR-T therapies for cancer treatment. The company did not disclose how much it paid for the acquisition.

Ecobank denies overstating its balance sheet
Big Business

Ecobank denies overstating its balance sheet

Ecobank Transnational Corporation has denied allegations that it overstated its balance sheet and income statements emanating from incorrect exchange rates. In a tersed statement, the group said: The attention of the ETI Group has been drawn to recent publications in some online media alleging overstatement of ETI’s balance sheet and […]