Rumors about Lufthansa joining ITA intensify
dba.
It has been speculated several times that Lufthansa is interested in expanding to Italy. As the Italian newspaper “Il Foglio” writes, this could become more concrete in the next few days. According to the newspaper, a participation of the Germans in the Alitalia successor company ITA of up to 40 percent is under discussion. As the “Corriere della Sera” writes, there have been several meetings between the two sides on the subject. The two airlines did not comment on the speculation.
Nelson Peltz takes on Unilever
Activist Peltz joins Unilever
dba.
The activist investor Nelson Peltz has taken a stake in the consumer goods group Unilever, as reported by several media, citing informed circles. It’s not clear what percentage of Peltz’s Trian Fund is. However, the financier is known for his involvement with consumer goods groups. He has also pushed for changes in strategy at P&G and Mondelez. Unilever management has come under fire after it became known that the company had made an unsuccessful bid for GSK’s consumer health division. The news had caused the group’s share price to fall.
Billionaire at the helm of MV owner Genting resigns
(dpa)
Malaysian billionaire Lim Kok Thay has resigned as head of his bankrupt cruise company and MV shipyard owner Genting Hong Kong. The step was taken at the same time as insolvency administrators were appointed to work out a restructuring of the ailing company. As the company reported on the Hong Kong Stock Exchange on Monday, Lim Kok Thay resigned as chairman and chief executive officer effective Friday.
There are “no differences of opinion” with the board, it was emphasized. In addition, Colin Au has resigned as Vice President and Group President. The company is looking for suitable candidates to fill the positions, the stock exchange announcement said. Trading in the company’s shares remained suspended on Monday. A court in Bermuda appointed the bankruptcy trustees on Friday.
Two years after the outbreak of the pandemic, which hit the cruise business hard, the liquidation of Genting Hong Kong is a setback for MV shipyards. They had already had to file for bankruptcy on January 10th. The ship “Global One” is being built in Wismar for the cruise company Dream Cruises, which belongs to Genting Hong Kong. It is 75 percent complete. With space for 10,000 passengers, it will be the world’s largest cruise ship.
70-year-old Lim Kok Thay started the company, now Genting Hong Kong, back in 1993, naming it Star Cruises. Today, the Asian tourism group also operates ships under the Dream Cruises and Crystal Cruises brands, as well as Resorts World Manila (RWM). The main markets were Hong Kong and China.
76 percent of the shares in the cruise arm belong to the billionaire himself. He also operates casinos and resorts in Malaysia, Great Britain, Singapore and the USA with other companies in his conglomerate Genting Group.