On Monday, 58.com Inc (ADR) (NYSE:WUBA)’s shares declined -1.40% to $69.51.
On April 17, 58.com Inc (ADR)(WUBA), declared that it has attained a planned stake in Falcon View Technology Limited (“Ganji”), the holding company of the PRC entities operating Ganji.com, a major online local services marketplace platform in China. Concurrently, 58.com also declared an about US$400 million additional investment by Tencent Holdings Limited (“Tencent”), a leading provider of internet services in China.
Under the terms of the definitive contract with shareholders of Ganji (“the 58.com-Ganji Planned Transaction”), and as part of an intended long-term, planned combination transaction, 58.com has agreed to attain an about 43.2% fully diluted equity stake in Ganji for a combination of share consideration and cash, counting about 34 million newly issued ordinary shares of the Company (one American Depositary Share, or “ADS”, represents two class A ordinary shares) and US$412.2 million in cash. The two companies, which will continue to operate their respective brands, websites and teams, intend to maximize business synergies created by this new planned relationship, and capitalize on opportunities to cooperate and further expand their businesses.
Founded in Beijing in 2005, Ganji.com has become one of China’s leading online local services marketplaces. Every month, hundreds of millions of users come to Ganji.com to access a wide range of location-based services from millions of active merchants, in areas such as jobs, housing, second hand products and local services information.
Both the 58.com-Ganji Planned Transaction and the Tencent Investment are predictable to close within a few days, subject to customary closing conditions.
58.com Inc. operates online marketplace for local merchants and consumers in the Peoples Republic of China. Its online marketplace enables local merchants and consumers to connect, share information, and conduct business. The company’s online marketplace contains local information in about 380 cities in various content categories, counting housing, jobs, used goods, automotive, pets, tickets, yellow pages, and other local services.
Tyson Foods, Inc (NYSE:TSN)’s shares dropped -1.38% to $38.49, during the last trading session on Monday.
Yesterday, Tyson Foods, Inc.(TSN), will hold its fiscal second quarter 2015 earnings conference call Monday, May 4, at 9 a.m. Eastern (8 a.m. Central).
Tyson Foods, Inc., together with its auxiliaries, produces, distributes, and markets chicken, beef, pork, prepared foods, and related allied products worldwide. The company breeds and raises chickens; and processes live chickens into fresh, frozen, and value-added chicken products.
At the end of Monday’s trade, Kinder Morgan, Inc. (NYSE:KMI)‘s shares dipped -0.43% to $43.71.
Yesterday, Huntington Ingalls Industries (HII) declared it has accomplished talk about with Kinder Morgan Inc. (KMI) to explore the redevelopment of HII’s Avondale shipyard in Louisiana. Since April 2014, HII and Kinder Morgan have evaluated best-use opportunities for the facility, and have mutually decided not to move forward with a joint venture.
HII will continue to assess all alternatives for future use of the facility, to comprise selling the property, and will continue to work closely with the State of Louisiana and Louisiana Economic Development.
Huntington Ingalls Industries is America’s largest military shipbuilding company and a provider of manufacturing, engineering and administration services to the commercial and non-commercial energy, oil and gas markets. For more than a century, HII’s Newport News and Ingalls shipbuilding divisions in Virginia and Mississippi have built more ships in more ship classes than any other U.S. naval shipbuilder.
Kinder Morgan, Inc. operates as an energy infrastructure and energy company in North America. The company operates through Natural Gas Pipelines, CO2, Terminals, Products Pipelines, Kinder Morgan Canada, and Other segments.
Tesoro Corporation (NYSE:TSO), ended its Monday’s trading session with -1.38% loss, and closed at $83.62.
On April 17, Tesoro Logistics LP (TLLP) declared the appointment of Robert W. Goldman and Michael E. Wiley to serve on the Board of Directors of the general partner. Mr. Goldman and Mr. Wiley both serve as independent members of the Board of Directors of Tesoro Corporation (TSO) (“Tesoro”) which, directly and indirectly through its associates, owns the general partner.
“This change will bring additional knowledge and expertise to the general partner`s board. The service of Bob and Mike on both the Tesoro and general partner Boards of Directors will also enhance our ability to execute our integrated logistics strategy,” said Greg Goff, Chairman and Chief Executive Officer of TLLP`s general partner.
Mr. Goldman and Mr. Wiley are replacing two administration directors, Keith M. Casey and Charles S. Parrish. Mr. Parrish will continue to serve as Vice President and General Counsel of the General Partner and Executive Vice President, General Counsel and Secretary of Tesoro. Mr. Casey will continue to serve as Executive Vice President, Operations of Tesoro. “I would like to thank Keith and Chuck for their continued efforts on behalf of TLLP,” said Mr. Goff.
Mr. Goldman is the former Senior Vice President and Chief Financial Officer of Conoco Inc., an international, integrated energy company. Formerly, Mr. Goldman held various senior financial and operational roles with Conoco and E.I. DuPont de Nemours.
Tesoro Corporation, through its auxiliaries, engages in petroleum refining and marketing activities in the United States. It operates in three segments: Refining, Tesoro Logistics LP (TLLP), and Retail. The Refining segment refines crude oil and other feed stocks into transportation fuels, such as gasoline, gasoline blend stocks, jet fuel, and diesel fuel, in addition to other products, counting heavy fuel oils, liquefied petroleum gas, petroleum coke, calcined coke, and asphalt.
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