GE to Merge Oil & Gas Unit with Baker Hughes
on the New York Stock Exchange, will have dual headquarters in Houston and London. Baker Hughes shares rose as much as 5 percent in morning trade before reversing course to trade down nearly 8 percent at $54.60. Shares of GE slipped 0.1 percent to $29.18. Centerview Partners and Morgan Stanley are advising GE, while Shearman & Sterling is its legal adviser. Goldman Sachs & Co is Baker Hughes's financial adviser, with Davis Polk acting as legal adviser. (Reporting by Ernest Scheyder, Swetha Gopinath, Ankit Ajmera and Diane Bartz; Editing by Ted Kerr and Nick
DONG Energy Shares Jump after European IPO
the technology improves. DONG said more than 36,000 new investors had been allocated shares in the flotation. Private Danish investors were assigned about 10 percent of the 72.8 million shares sold, with the rest bought by Danish and international institutional investors. JP Morgan, Morgan Stanley and Nordea were global coordinators for the listing. Citigroup, Danske Bank, UBS, RBC, Rabobank and ABG Sundal Collier and Lazard were also involved.| ($1 = 6.5311 Danish crowns) (By Jacob Gronholt-Pedersen, Ole Mikkelsen and Nikolaj Skydsgaard; Additional reporting
Aker Solutions Appoints Head of Industry & Investor Relations
relations. He will start on June 17, 2014. Phillips, 43, served as global co-head of oil and gas research and managing director at HSBC since mid-2011 after joining the bank as an analyst in 2005. He earlier specialized as an analyst covering the chemicals sector for banks including Commerzbank, Morgan Stanley and Dresdner Kleinwort Benson. He will be based at Aker Solutions' London office and report to the company's chief financial officer. David Phillips has a BA in Chemistry from Oxford University and a PhD in Chemistry from Cambridge University. www.akersolutions.com
Scotland's MeyGen Tidal Power Plan Gets Green Light
Caithness where tides surge through at some five metres per second. The MeyGen tidal stream project is at the forefront of world marine energy development and intends to harvest the tidal resource of one of the most energetic sites in Europe. MeyGen Limited is a joint venture between investment bank Morgan Stanley (45%), independent power generator International Power (45%) and tidal technology provider Atlantis Resources Corporation (10%), dedicated to developing the Inner Sound tidal site. The pilot is the first step towards the installation of an 86MW array, with MeyGen’s ultimate aim being
February 2024
