FINWIRES · TerminalLIVE
FINWIRES

UK Court Clears Neo Next+'s Proposed Cash Takeover of Deltic Energy

By

Deltic Energy (DELT.L) said Thursday the High Court of Justice in England and Wales approved the scheme of arrangement linked to its proposed cash takeover by Neo Next+ Energy Upstream UK.

The scheme is scheduled to become effective on Friday, during which a copy of the court order will be delivered to the Registrar of Companies. At the same time, the natural resources investor will be suspended from trading on the London stock exchange's AIM segment, with cancellation due Aug. 17.

Deltic and Neo Next+, jointly owned by TotalEnergies (TTE.PA, TTE.L), Repsol's (REP.MC) UK arm, and HitecVision, agreed on the terms of the offer in May.

Related Articles

Equities

Saipem Wins $1.8 Billion Offshore Contract in Middle East

Saipem (SPM.MI) said Wednesday it received an offshore contract in the Middle East worth $1.8 billion.The Italian company will provide engineering, procurement, construction and installation services for offshore and subsea facilities under the contract.

^DFMGI^FADGI^TASI$SPM.MI
Equities

Market Chatter: Codelco Expects Lower Copper Output This Year

Codelco expects to produce less copper this year, abandoning a plan unveiled in April to produce 1.34 million metric tons versus last year's revised 1.307 million tons, Bloomberg reported Wednesday, citing a person familiar with the matter.Under new Chairman Bernardo Fontaine and Chief Executive Officer Jorge Gomez, Codelco is now looking to stabilize production around current levels in coming years rather than pursue former Chairman Maximo Pacheco's 1.7 million-ton target, the report said.The new leadership is prioritizing profitability over production volume, aiming to maximize contributions to the state while preventing further increases to the company's $27 billion debt burden, according to the report.Codelco did not immediately respond to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Equities

NACCO Industries Unit Extends Mining Contracts With Clients in Florida, Arkansas

NACCO Industries (NC) unit North American Mining said late Wednesday it executed multi-year contract extensions with clients in Florida and Arkansas.The extended contracts position the unit to support growing infrastructure demand through nearly 5 million tons of annual production, according to a statement.North American Mining has extended its contract with the Florida customer by 20 years and its contract with the sand and gravel client in Arkansas by four years, the company said.

$NC