Seplat Petroleum Development Co., a Nigerian oil company that bought assets in the Niger delta from Royal Dutch Shell Plc, plans to sell shares to the public to raise at least $500 million. The company will use the proceeds to acquire more assets or enter joint ventures, it said in […]
Business News
Dangote Cement unveils Africa’s first 52.5N cement grade
As the debate over the quality of cement produced in the country rages, leading manufacturers, Dangote Cement Plc, on Monday launched yet another higher grade- the 52.5N into the Nigerian market. Group Managing Director of the company, Devakumar Edwin told newsmen in Lagos at a media parley that Dangote Cement […]
GSK pays $1 billion to lift Indian unit stake to 75 percent
GlaxoSmithKline (GSK.L) said on Monday it had paid 64 billion rupees ($1.05 billion) to increase its stake in its Indian pharmaceuticals unit to 75 percent, as it banks on rising demand for medicines in emerging markets. Britain’s biggest drugmaker first announced plans to lift the holding in GlaxoSmithKline Pharmaceuticals (GLAX.NS) […]
