Dubai’s Abraaj eyes up to 4 exits in next 18 mths - exec
Abraaj has been trying to offload its stake in Turkish
hospital group Acibadem in a deal that could be worth
at least $500 million.Matteo Stefanel, senior partner, said other exits were
likely.”We are also looking at one to three exits in the next 18
months,” Stefanel told Reuters on the sidelines of a conference,
without elaborating on details.Private equity funds in the Middle East and North Africa,
under pressure to produce bigger returns for investors, have
buyers, including sovereign wealth funds, looming larger on
their deal radar.Stefanel said Abraaj was looking at investing in healthcare,
education and energy.”These are investments which we think can demonstrate growth
over the next few years in the region,” he said, adding Abraaj
was in the final stages of raising capital for a $2 billion
private equity fund.
German stocks - Factors to watch on October 12
DEUTSCHE BOERSE (DB1Gne.DE)Indicated down 0.9 percentMerger partners Deutsche Boerse and NYSE Euronext
have until Nov. 8 to formally address the European Commission’s
specific concerns over their $9 billion deal, according to a
source.Related news [DB1Gne.DE-E]DEUTSCHE BANK (DBKGn.DE)Indicated down 0.8 percentCEO Josef Ackermann has postponed an annual strategy meeting
due to be held in November, in order to allow more time to clear
up the bank’s leadership structure, Handelsblatt reported.Related news [DBKGn.DE-E]LUFTHANSAIndicated down 0.8 percentSeptember traffic figures due 1100 GMT.Related newsRWEIndicated down 0.2 percentOne of the shareholders in Europe’s Nabucco project, in
which RWE also has a stake, said the pipeline may only deliver
its first gas in 2018, a year later than expected, the Austria
Press Agency reported on Tuesday.Related newsPHOENIX SOLARThe solar company cut its 2011 outlook and now sees revenues
in the range of 350-400 million euros and an operating loss of
42-49 million euros. It cited write-downs of inventories due to
a continuing decline in solar panel prices.Related newsOVERSEAS STOCK MARKETSDow Jones down 0.2 pct, S&P 500 up 0.1 pct,
Nasdaq up 0.7 pct at Tuesday’s close.Nikkei down 0.4 pct at Wednesday’s close.GERMAN ECONOMIC DATAWholesale price index for September +0.3 pct m/m, +5.7 pct
y/y.Was seen -0.1 pct m/m and +5.4 pct y/y.EUROPEAN FACTORS TO WATCHDIARIESREUTERS TOP NEWS
UPDATE 1-First Uranium sales rise quarter-on-quarter
* Company maintains gold, uranium full year outlookOct 11 (Reuters) - First Uranium said on Tuesday
that its second-quarter gold sales rose 17.7 percent from the
prior quarter and it is maintaining its full year outlook
despite problems at both its projects in South Africa.Gold sales in the second quarter, ended Sept. 30, rose to
40,529 ounces from 34,438 ounces in its first quarter. In the
same period, uranium production rose 76.8 percent to 36,006
pounds from 20,361 pounds.Gold and uranium production at the Ezulwini mine, located
some 40 km (25 miles) from Johannesburg, was affected by two
fatal accidents in the second quarter, which led to work
stoppages.First Uranium said it is reinforcing efforts to attain a
safe working environment and has adopted a zero-tolerance
approach to unsafe conduct.The company said it remains on track to sell about 70,000
to 80,000 ounces of gold from Ezulwini in fiscal 2012, with
uranium sales of between 110,000 and 130,000 pounds.At its Mine Waste Solution (MWS) facility, which
reprocesses tailings to extract gold and uranium, the company
said gold recoveries rose quarter-to-quarter, leading to a 27
percent boost in gold sales.Gold guidance at MWS, located 160 km (100 miles) from
Johannesburg, was unchanged at between 105,000 and 115,000
ounces, despite an ongoing issue with permitting.In September, the South African mining authority withdrew
the new order mining right for the project. The company
maintains that MWS is not a mine and does not need a mining
right to operate. It said it has continued to operate.Shares of First Uranium closed up 21 percent at 23 Canadian
cents on the Toronto Stock Exchange. The company has lost 83
percent of its value since the beginning of the year.
