Tuesday 21 October 2014

Sandberg sells $91m in stocks

Published 13/08/2013 | 05:00

FACEBOOK chief operating officer Sheryl Sandberg sold $91m (€68.4m) worth of shares in the social network after the stock topped its $38 initial public offering price for the first time since May 2012.

Facebook shares have surged more than 40pc as chief executive Mark Zuckerberg has demonstrated it has the potential to profit from advertising on smartphones and tablets.

ORIGIN SELLS STAKE IN MARINE PROTEINS

ORIGIN Enterprises, the Irish agri-services group, said it completed the disposal of its 50pc interest in its Marine Proteins and Oils joint venture, Welcon Invest, to its Norwegian joint venture partner Austevoll Seafoods.

Origin said in June that it would sell the stake for around €93m.

CLONTARF ENERGY TO GAIN IN PERU DEAL

CLONTARF Energy, a Dublin-based exploration company chaired by John Teeling, said it has reached an agreement with the Peru Oil and Gas Exploration Company.

Clontarf said that AIM-listed Rurelec has agreed to buy gas from Block 183 in Peru when and if the gas is produced. Under the agreement, Clontarf holds a 3pc overriding royalty on production from any commercial discovery.

PRUDENTIAL SHARES HIT RECORD HIGH

SHARES in Prudential surged to a record in London trading after the UK's biggest insurer by market value reported first-half profit that beat analyst estimates, buoyed by rising sales in Asia and a jump in US earnings.

Operating profit climbed 22pc to £1.42bn in the first six months to beat the £1.3bn estimate of 17 analysts.

MURDOCK RAISES OFFER FOR DOLE FOOD

DOLE Food agreed to a higher takeover offer from chairman and chief executive David Murdock in a deal that values the fresh fruit and vegetable producer and marketer at $1.21bn (€0.9bn). Mr Murdock raised his offer to $13.50 a share in cash.

CAPITA TO MANAGE NAMA LOANS

OUTSOURCING firm Capita as been formally appointed by NAMA to manage loans with a face value of €41bn. The contract is worth €80m over four years to London Stock Exchange-listed Capita.

The deal was announced in March but the formal appointment was made yesterday and is already in force.

Irish Independent

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