In today’s briefing:
- Genesis Minerals (GMD AU): Alternate Transaction and Placement to Buy St Barbara’s Key Assets
- Equinor ADR: Initiation of Coverage – Recent Acquisitions & Other Drivers
- Weekly Wrap – 14 Apr 2023
Genesis Minerals (GMD AU): Alternate Transaction and Placement to Buy St Barbara’s Key Assets
- Genesis Minerals (GMD AU) and St Barbara Ltd (SBM AU) have dropped their merger plans. Instead, GMD will acquire SBM’s Leonora gold assets for a total consideration of A$600 million.
- The transaction is favourable for GMD shareholders. GMD is getting the assets at an attractive price. GMD will fund the acquisition through a A$450 million placement at A$1.15 per share.
- The transaction provides a way out for long-suffering SBM shareholders as they retain exposure to gold assets and have option value on the sale of SBM’s remaining assets.
Equinor ADR: Initiation of Coverage – Recent Acquisitions & Other Drivers
- This is our first report on an international energy major, Equinor.
- The company delivered a mixed operational performance for the fourth quarter with below-par revenues but managed an earnings beat.
- Equinor improved security for its assets and cyberspace by enforcing tougher security rules, providing more training, and collaborating more closely with law enforcement.
Weekly Wrap – 14 Apr 2023
Lucror Analytics Weekly Wraps provide an overview of all Morning Views comments and reports published by our analyst team in the past week, and also showcase a list of the most-read reports.
In this Insight:
- Softbank Group
- Central China Real Estate
- Sino-Ocean Group
- Seazen (Formerly Future Land)
- Vedanta Resources
and more…
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