Kvaerner finds buyers for U.S. unit, expects two other sales by year end

Article Abstract:

Kvaerner PLC, an Anglo-Norwegian engineering company, found two buyers for Trafalgar House Property Inc., its home development business in the US, for around $150 million. The divestiture, which is the first of three planned sale by the end of 1998, is intended to generate money to reduce the company's debt and redirect its focus to construction, oil and gas and process engineering. The majority of Trafalgar will be obtained by an unidentified US construction firm, while the rest is being acquired by a consortium headed by Gregory Cox. Later, Kvaerner plans to sell a plastics machinery operation and ship equipment unit.

Comment:

Finds 2 buyers for Trafalgar House Property Inc, its home development business in the US, for around $150 mil

Land Subdivision and Land Development, Asset sales & divestitures, Housing Developers, Article, Trafalgar House Property Inc., Kvaerner Rosenberg A/S

Rabobank executive quits as alliance takes shape

Article Abstract:

Rabobank NV CEO Maarten Hulshoff resigned after the firm passed him over for the head position at DG-Rabo International. DG_Rabo is a new joint venture between Rabobank and DG Bank AG which will operate as an international European bank. Hulshoff took the CEO position just six months ago.

Commercial Banks, Commercial Banking, Netherlands, Banking Institutions, Depository Credit Intermediation, Executive changes & profiles, Banking industry, Officials and employees, Banks (Finance), Joint ventures, Appointments, resignations and dismissals, Rabobank Nederland, DG BANK, Hulshoff, Maarten

DHL plans to float 23% of its equity in an IPO

Article Abstract:

Following in the footsteps of the recent successful UPS IPO, the parcel delivery and express mail company DHL Corp.'s plans for launching an IPO (23% equity) is described.

Organizational history, Belgium, Freight Transportation Arrangement, Freight Forwarders & Consolidators, Statistical Data Included, Freight transportation industry, Securities, Freight forwarders, DHL Corp.