Chemicals - Diversified

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DCM Shriram divests 50 pct of its subsidiary

8:54am EDT

DCM Shriram Ltd:Axiall LLc invested 346.5 mln Indian rupees to acquire 50 pct stake in Shriram Vinyl Polytech (p) Ltd (SVPPL), 100 pct subsidiary of DCM Shriram.Says SVPPL is now 50 -50 joint venture of Axiall and DCM Shriram.

Kasbah Resources Ltd signs shareholders agreement with Toyota Tsusho Corp and Nittetsu Mining Co Ltd for development of Achmmach

Monday, 14 Apr 2014 09:27pm EDT

Kasbah Resources Ltd:Signs shareholders agreement with Toyota Tsusho Corp (TTC) and Nittetsu Mining Co Ltd (NMC).Shareholders agreement records terms and conditions on which Kasbah, TTC and NMC propose to associate themselves together through Atlas Tin SAS as incorporated joint venture to carry out development and proposed eventual mining of Achmmach Tin Project.Atlas Tin is currently wholly owned subsidiary of Kasbah.Shareholders agreement will not become binding on any party until commencement date.NMC has now satisfied all conditions required to acquire 5 pct. interest in Atlas Tin. NMC will have right to 5 pct. of all production from project at fair market price.TTC's right to acquire 20 pct. interest in Atlas Tin (and right to 20 pct. of production from project at fair market price) remains subject to TTC making final payment under their MoU before June 30.On completion of final payment by TTC it is expected that Atlas Tin will become a 75 pct. Kasbah, 20 pct. TTC and 5 pct. NMC owned entity managed by Kasbah Resources Ltd.

Brenntag AG extends 1.6 billion euro loan

Monday, 31 Mar 2014 07:15am EDT

Brenntag AG:Amends 1.6 billion euro-equivalent syndicated loan, extending maturity and reducing pricing while increasing amount of deal.Financing has been extended to March 2019 from July 2016 previously, while Brenntag expects to save more than 6 million euros in interest year thanks to cut in margins.Says revolving credit facility has also been increased by 100 million euros to 600 million euros after deal received closed oversubscribed by syndicate of 22 banks from Brenntag's existing group of banks.Bookrunners and mandated lead arrangers on transaction were BNP Paribas, Commerzbank, HSBC Trinkaus & Burkhardt, Helaba, Royal Bank of Scotland and UniCredit Bank.Mandated lead arrangers are Bank of America Merrill Lynch, Bank of Tokyo-Mitsubishi UFJ, Credit Agricole CIB, Deutsche Bank, ING Bank, Mizuho Corporate Bank and SEB.Lead arrangers are ANZ Banking Group, Banco Santander, BayernLB, DZ Bank, Danske Bank, Fifth Third Bank, Goldman Sachs, HSH Nordbank and Scotiabank.


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