Templar Energy Goes Bankrupt to Complete Sale

Joseph B. Hash

Oil and gas driller Templar Energy has submitted for Chapter 11 individual bankruptcy to effectuate a sale of its assets amid plunging commodity rates.

The firm experienced started the sale procedure in February, attracting a dozen indications of fascination by mid-April. But it claimed Monday that it experienced made the decision to use the individual bankruptcy procedure to consummate a sale.

Since February, “the volatility in oil and organic gas marketplaces has been exacerbated by the sudden merged influence of the COVID-19 pandemic and the oil selling price war in between Saudi Arabia and Russia, with oil rates descending to

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Zynga to Buy Peak Games for $1.8B

Joseph B. Hash

Social-gaming corporation Zynga has entered into an settlement to obtain Peak Video games for $1.eight billion, the corporations mentioned.

The offer for Peak, a mobile-gaming corporation centered in Istanbul, will incorporate $900 million in money and close to $900 million of Zynga frequent stock centered on the volume-weighted common closing cost for every share over the 30-day buying and selling period of time finished Could 29, 2020.

The offer is the greatest ever start off-up acquisition in Turkey and the initial valued at a lot more than $1 billion.

“The intercontinental stance that Peak has is very complementary to what

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Libbey Files Chapter 11 Amid ‘Dramatic’ Slump

Joseph B. Hash

Libbey, a single of the world’s largest makers of glass tableware, filed for Chapter eleven individual bankruptcy on Monday, citing the “unprecedented” impact of the coronavirus pandemic on desire for its products and solutions.

The company experienced been pursuing a restructuring of its harmony sheet even right before the pandemic forced it to shut its factories in Toledo, Ohio, and Shreveport, La., and pretty much shut down its cafe profits channel.

A seven-12 months, $440 million personal loan was scheduled to mature previous month.

But Libbey explained Monday that it experienced been “unable to offset the steep decrease in sales”

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South Korea Agrees to Attend G-7, While Putin Seeks More Information

Joseph B. Hash

South Korean President Moon Jae-in approved President Trump’s invitation to show up at the Team of 7 nations meeting, Seoul’s presidential place of work claimed on Monday, while Russian President Vladimir Putin claimed he wished far more information ahead of deciding regardless of whether to come.

Mr. Trump above the weekend claimed he was postponing a planned June meeting of G-7 leaders in the U.S. until finally September, having that action following German Chancellor Angela Merkel claimed she wouldn’t be equipped to commit to attending in the course of the coronavirus pandemic.

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