On Friday, Apache Corp. (NYSE:APA)’s shares surged 2.06% to $67.84, after an independent energy company, declared that it has accomplished the formerly revealed sale of its 50 percent interest in the Kitimat LNG project and related upstream acreage in the Horn River and Liard natural gas basins in British Columbia, Canada, to Woodside Petroleum Limited (WPL.AX). Total proceeds of $854 million comprise $354 million in adjustments for reimbursement of net expenditures on the project, changes in working capital and other contractual adjustments for the period between the effective date, July 1, 2014, and closing.
Apache Corporation, an independent energy company, explores, develops, and produces natural gas, crude oil, and natural gas liquids. It operates onshore and offshore assets primarily in the Permian Basin, the Anadarko basin in western Oklahoma, and the Texas Panhandle, Gulf Coast areas of the United States, in addition to in Western Canada.
AirMedia Group Inc. (NASDAQ:AMCN)’s shares gained 2.03% to $3.01, during the last trading session on Friday, after a leading operator of out-of-home advertising platforms in China targeting mid-to-high-end consumers, recently declared that Guangzhou Meizheng Advertising Co., Ltd., one of its merged entities in which AirMedia has 63.2% of the equity interest, has recently won a bidding and has reached a concession contract (the “Concession Contract”) with Shanghai Railway Culture and Advertising Development Co., Ltd., following which Meizheng has been granted the exclusive right to install and operate Wi-Fi systems on ordinary trains operated by Shanghai Railway Bureau. As of the time of execution of the Concession Contract, Shanghai Railway Bureau had 147 groups of ordinary trains.
Shanghai Railway Bureau had 275 million passengers on its high-speed trains and 175 million passengers on its ordinary trains in 2014.
Before obtaining the aforementioned concession right, AirMedia was granted concession rights to install and operate Wi-Fi systems on the high-speed trains operated by Beijing Railway Bureau, Shanghai Railway Bureau and Guangzhou Railway (Group) Corporation, with which AirMedia established a leading position in Wi-Fi services on high-speed trains in China, in terms of the number of high-speed trains on which it has concession rights to operate on-train Wi-Fi systems. In addition, AirMedia also holds the concession rights to install and operate Wi-Fi systems on ordinary trains operated by Xinjiang Railway Bureau.
AirMedia Group Inc. operates out-of-home advertising platforms primarily in the People’s Republic of China. It operates a network of digital frames in airports; digital TV screens in airports and on airplanes; traditional media in airports, such as light boxes, billboards, and painted advertisements; and gas station media displays, in addition to other outdoor media displays out of the air travel advertising sector.
At the end of Friday’s trade, Silver Wheaton Corp. (NYSE:SLW)’s shares gained 2.03% to $19.59, as a precious metals streaming company will release 2015 first quarter results on Thursday, May 7, 2015 , after market close. A conference call will be held Friday, May 8, 2015 , starting at 11:00 am (Eastern Time) to talk about these results.
Silver Wheaton Corp. operates as a precious metals streaming company worldwide. The company has 18 long-term purchase contracts and 1 early deposit long-term purchase contract associated with silver and gold regarding27 various mining assets.
Finally, Axalta Coating Systems Ltd. (NYSE:AXTA), ended its Friday’s trading session with 2.01% gain, and closed at $31.90, hitting its highest level, after Axalta Coating declared that an associate of Berkshire Hathaway Inc. has entered into a definitive stock purchase contract with certain associates of The Carlyle Group for the purchase of a total of 20 million of Axalta’s ordinary shares for an aggregate purchase price of $560 million, or $28.00 per share. Axalta will not receive proceeds from the sale of the shares. In connection with the purchase, Berkshire Hathaway agreed that it would not dispose of the shares for 90 days following the consummation of the sale. Axalta has agreed to provide Berkshire Hathaway with certain registration rights following the expiration of that 90-day period.
The shares are being offered and sold in a private placement following Section 4 of the Securities Act of 1933, as amended. The shares have not been registered under the Securities Act, or the securities laws of any other jurisdiction, and may not be offered or sold in the United States absent registration or an applicable exemption from such registration requirements. This press release does not constitute an offer to sell, or a solicitation of an offer to purchase, the shares in any jurisdiction in which such offer or solicitation would be unlawful.
Axalta Coating Systems Ltd., through its auxiliaries, manufactures, markets, and distributes high performance coatings products primarily for the transportation industry. It operates through two segments, Performance Coatings and Transportation Coatings.
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