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Infrastructure
Steel & Tube cuts earnings outlook on margin squeeze, inventory restatement
By Paul McBeth May 20 (BusinessDesk) - Steel & Tube Holdings has cut its earnings outlook as margins remain under pressure, and after restating its year-earlier accounts gave it a lower starting point. The steel products maker expects earnings before interest and tax of $1...
Infrastructure
Infratil confident of Vodafone clearance; keen to keep Trustpower
By Gavin Evans May 20 (BusinessDesk) - Infratil is confident its purchase of Vodafone New Zealand will be approved by regulators and says it has no interest in selling out of Trustpower to help secure a deal. Infratil and Brookfield Asset Management are seeking Commerce Com...
Infrastructure
UPDATE: Infratil kicks off $400M equity raising, posts flat earnings
(Adds company comment throughout) By Gavin Evans May 17 (BusinessDesk) – Infratil’s purchase of a stake in Vodafone New Zealand will be transformative for its portfolio and should generate the sort of returns that will allow the company to return to a rising dividend track,...
SeaDragon shareholders back $4M injection to stave off liquidation
By Rebecca Howard May 17 (BusinessDesk) - SeaDragon has managed to stave off possible receivership or liquidation after shareholders backed resolutions to allow a $4 million cash injection. "Management’s current estimates have SeaDragon unlikely to pay its debts as they fa...
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