Publishing date: Apr 14, 2021 • 1 hour ago • 4 minute read •
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(Bloomberg) Saudi Arabia is celebrating one of the biggest foreign-investment windfalls in its history after netting more than $12 billion by selling off a stake in the oil pipelines that traverse the desert kingdom.
But the country may also be facing an uncomfortable reality as a result. As carefully cultivated relationships with firms such as BlackRock Inc. and SoftBank Group Corp. have yet to draw in the desired investment, it’s turning to the jewels of its energy industry to attract new money.
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A US$12.5 billion deal shows Saudi oil still eclipses all else
Dinesh Nair and Matthew Martin, Bloomberg News
Saudi oil minister says days of drill, baby, drill are over VIDEO SIGN OUT
Saudi Arabia is celebrating one of the biggest foreign-investment windfalls in its history after netting more than US$12 billion by selling off a stake in the oil pipelines that traverse the desert kingdom.
But the country may also be facing an uncomfortable reality as a result. As carefully cultivated relationships with firms such as BlackRock Inc. and SoftBank Group Corp. have yet to draw in the desired investment, itâs turning to the jewels of its energy industry to attract new money.
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TOKYO (Reuters) -Toshiba Corp CEO Nobuaki Kurumatani resigned on Wednesday amid controversy over a $20 billion buyout bid from CVC Capital Partners, while its shares rose on reports that KKR & Co and Brookfield are also planning offers.
Satoshi Tsunakawa, who led the company before Kurumatani and until Wednesday was chairman, will once again assume the helm.
Kurumatani, CEO for three years, had been under fire over the bid from CVC, his former employer, as well as facing allegations that investors were pressured before a shareholder meeting to support desired board nominations.
CVC’s offer to take the Japanese conglomerate private and retain incumbent management was perceived by some in the company as designed to shield Kurumatani from activist shareholders, Toshiba sources have said.
Controversial Toshiba CEO steps down, shares jump on bidding war expectations
By Makiko Yamazaki
Reuters
TOKYO (Reuters) -Toshiba Corp CEO Nobuaki Kurumatani resigned on Wednesday amid controversy over a $20 billion buyout bid from CVC Capital Partners and the conglomerate s shares surged on reports that KKR & Co and Brookfield are also planning offers.
Satoshi Tsunakawa, who led the company before Kurumatani and until Wednesday was chairman, will once again assume the helm.
Kurumatani had been under fire over the bid from CVC, his former employer, as well as damaging allegations that investors were pressured before a shareholder meeting to support desired board nominations.
Date: Thursday, May 13, 2021Time: 11:00 a.m. (Eastern Time) TORONTO, April 14, 2021 (GLOBE NEWSWIRE) You are invited to participate in Brookfield Asset Management's 2021 First Quarter Conference