Dubai’s United Arab Chemical Carriers (UACC) is in talks with shareholder Qatar Navigation regarding a potential merger of the companies’ product and chemical tanker businesses.
Qatar Navigation, also known as Milaha, said it had initiated discussions with UACC for a “possible combination” of the companies’ tanker businesses, in a regulatory filing in Qatar.
“If successful, this move is expected to result in a larger and stronger business, provide better financial returns and strengthen the combined business market position,” the company said.
Per Wistoft, UACC’s chief executive, confirmed yesterday that the two entities were in discussions. He said discussions were still in their early stages and that it was too early to say whether the deal would be a takeover or a merger.
The transaction remains subject to due diligence and corporate, regulatory and other necessary approvals, Milaha said.
But Mr Wistoft said that a deal could be struck and receive approval from shareholders before the end of the current quarter.
jeverington@thenational.ae
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How to increase your savings
- Have a plan for your savings.
- Decide on your emergency fund target and once that's achieved, assign your savings to another financial goal such as saving for a house or investing for retirement.
- Decide on a financial goal that is important to you and put your savings to work for you.
- It's important to have a purpose for your savings as it helps to keep you motivated to continue while also reducing the temptation to spend your savings.
- Carol Glynn, founder of Conscious Finance Coaching
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Quick pearls of wisdom
Focus on gratitude: And do so deeply, he says. “Think of one to three things a day that you’re grateful for. It needs to be specific, too, don’t just say ‘air.’ Really think about it. If you’re grateful for, say, what your parents have done for you, that will motivate you to do more for the world.”
Know how to fight: Shetty married his wife, Radhi, three years ago (he met her in a meditation class before he went off and became a monk). He says they’ve had to learn to respect each other’s “fighting styles” – he’s a talk it-out-immediately person, while she needs space to think. “When you’re having an argument, remember, it’s not you against each other. It’s both of you against the problem. When you win, they lose. If you’re on a team you have to win together.”
Company%20profile
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COMPANY%20PROFILE%20
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Kanguva
Director: Siva
Stars: Suriya, Bobby Deol, Disha Patani, Yogi Babu, Redin Kingsley