Airlines

58.com Announces Completion of Merger

Friday, September 18, 2020 - 8:30am

BEIJING, Sept. 18, 2020 /PRNewswire/ -- 58.com Inc. (NYSE: WUBA) ("58.com" or the "Company"), China's largest online market place for classifieds, today announced the completion of the merger (the "Merger") with Quantum Bloom Company Ltd ("Merger Sub"), a wholly-owned subsidiary of Quantum Bloom Group Ltd ("Parent"), pursuant to the previously announcedagreement and plan of merger, dated as of June 15, 2020 (the "Merger Agreement"), among the Company, Parent and Merger Sub.

Key Points: 
  • BEIJING, Sept. 18, 2020 /PRNewswire/ -- 58.com Inc. (NYSE: WUBA) ("58.com" or the "Company"), China's largest online market place for classifieds, today announced the completion of the merger (the "Merger") with Quantum Bloom Company Ltd ("Merger Sub"), a wholly-owned subsidiary of Quantum Bloom Group Ltd ("Parent"), pursuant to the previously announcedagreement and plan of merger, dated as of June 15, 2020 (the "Merger Agreement"), among the Company, Parent and Merger Sub.
  • As a result of the Merger, the Company became a wholly-owned subsidiary of Parent and will cease to be a publicly traded company.
  • Registered shareholders immediately prior to the Effective Time who are entitled to the Merger Consideration will receive a letter of transmittal and instructions on how to surrender their Shares in exchange for the Merger Consideration and should wait to receive the letter of transmittal before surrendering their Shares.
  • The deregistration will become effective 90 days after the filing of the Form 25 or such shorter period as may be determined by the SEC.

Cloud4C Appoints Terrence Yong as Board Member for Singapore and Chairman for Malaysia

Friday, September 18, 2020 - 2:00am

KUALA LUMPUR, Malaysia, Sept. 18, 2020 /PRNewswire/ -- Cloud4C - World's leading Cloud Managed Services Provider- announced appointment of Mr. Terrence Yong as Member of the Board, Singapore and Chairman, Malaysia.

Key Points: 
  • KUALA LUMPUR, Malaysia, Sept. 18, 2020 /PRNewswire/ -- Cloud4C - World's leading Cloud Managed Services Provider- announced appointment of Mr. Terrence Yong as Member of the Board, Singapore and Chairman, Malaysia.
  • The cloud services market is growing with a CAGR of 12% in Malaysia and is expected to reach $3.7 Bn by 2024.
  • Terrence will help us pursue the strategic vision for the region, delivering greater value to our shareholders,"said Sridhar Pinnapureddy, Founder and CEO, Cloud4C.
  • It will be a pleasure to support the organization in sustaining a distinct value driven culture, and enabling rapid growth," said Terrence Yong, Member of the Board, Singapore and Chairman, Malaysia, Cloud4C.

FTC’s Bureau of Economics to Expand Merger Retrospective Program

Thursday, September 17, 2020 - 10:01pm

The Federal Trade Commissions Bureau of Economics has announced a revamped Merger Retrospective Program, which will expand and formalize the Bureaus retrospective research efforts that have already produced studies analyzing the effects of a range of consummated mergers over the last 35 years.

Key Points: 
  • The Federal Trade Commissions Bureau of Economics has announced a revamped Merger Retrospective Program, which will expand and formalize the Bureaus retrospective research efforts that have already produced studies analyzing the effects of a range of consummated mergers over the last 35 years.
  • Merger retrospective analysis seeks to determine, after the fact, whether a merger has affected competition in one or more of the markets impacted by the merger.
  • It can also assess the performance of a pricing pressure index, merger simulation model, or other tools used to predict the effects of a proposed merger.
  • Although the FTCs Merger Retrospective Program has provided many insights over the years that have informed the FTCs enforcement decisions, the Bureau of Economics seeks to expand the program by:

    Some of the new initiatives to the revitalized Merger Retrospective Program include:

FTC’s Bureau of Economics to Expand Merger Retrospective Program

Thursday, September 17, 2020 - 10:01pm

The Federal Trade Commissions Bureau of Economics has announced a revamped Merger Retrospective Program, which will expand and formalize the Bureaus retrospective research efforts that have already produced studies analyzing the effects of a range of consummated mergers over the last 35 years.

Key Points: 
  • The Federal Trade Commissions Bureau of Economics has announced a revamped Merger Retrospective Program, which will expand and formalize the Bureaus retrospective research efforts that have already produced studies analyzing the effects of a range of consummated mergers over the last 35 years.
  • Merger retrospective analysis seeks to determine, after the fact, whether a merger has affected competition in one or more of the markets impacted by the merger.
  • It can also assess the performance of a pricing pressure index, merger simulation model, or other tools used to predict the effects of a proposed merger.
  • Although the FTCs Merger Retrospective Program has provided many insights over the years that have informed the FTCs enforcement decisions, the Bureau of Economics seeks to expand the program by:

    Some of the new initiatives to the revitalized Merger Retrospective Program include:

Braniff Airways Announces New Endowment at the University of Texas at Dallas

Thursday, September 17, 2020 - 8:41pm

Dallas-based Braniff Airways, d/b/a Braniff International, announces that the company has set up a permanent endowment at The University of Texas at Dallas, according to Braniff Chairman Richard Ben Cass.

Key Points: 
  • Dallas-based Braniff Airways, d/b/a Braniff International, announces that the company has set up a permanent endowment at The University of Texas at Dallas, according to Braniff Chairman Richard Ben Cass.
  • Braniff Airways also supports Braniff Airways Foundation, which is the official repository for Braniff's historical corporate and employee records, photographs and negatives and memorabilia.
  • In 2020, Braniff Airways created an endowment at The University of Texas at Dallas to support Braniff's Public Relations Archives that have been housed in the University's History of Aviation Collection since February 1981.
  • An additional endowment will be created to support Braniff International Heritage Archives, which will be placed at UTD in the future

Deadline Reminder: The Law Offices of Howard G. Smith Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Gol Linhas Aereas Inteligentes S.A. (GOL)

Thursday, September 17, 2020 - 6:00pm

Investors suffering losses on their Gol investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com .

Key Points: 
  • Investors suffering losses on their Gol investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com .
  • On June 16, 2020, Gol stated that it could not timely file its fiscal 2019 annual report.
  • On this news, the Companys shares fell $0.27, or 3.5%, to close at $7.30 per share on June 16, 2020, thereby injuring investors.
  • Then, on June 29, 2020, after the market closed, Gol filed its fiscal 2019 annual report.

Spirit Airlines Announces Closing of Private Offering by Loyalty and Brand Subsidiaries

Thursday, September 17, 2020 - 5:02pm

MIRAMAR, Fla., Sept. 17, 2020 (GLOBE NEWSWIRE) -- Spirit Airlines , Inc. (NYSE: SAVE) today announced the closing of a private offering of $850 million in principal amount of 8.00% senior secured notes due 2025 offered by two newly-formed Spirit subsidiaries.

Key Points: 
  • MIRAMAR, Fla., Sept. 17, 2020 (GLOBE NEWSWIRE) -- Spirit Airlines , Inc. (NYSE: SAVE) today announced the closing of a private offering of $850 million in principal amount of 8.00% senior secured notes due 2025 offered by two newly-formed Spirit subsidiaries.
  • The notes are guaranteed by Spirit and secured by Spirits customer loyalty programs and brand intellectual property.
  • We owe that to our valued Team Members, Guests and investors, Spirit President and CEO Ted Christie said.
  • Our low fares and top-class reliability present a great value to consumers as travel demand builds and the economy recovers.

Cloud4C Strengthens LATAM Presence with Appointment of Marc Heilemann as Vice President, Business Development

Thursday, September 17, 2020 - 3:30pm

BOGOTA, Colombia, Sept. 17, 2020 /PRNewswire/ -- Cloud4C , World's leading Cloud Managed Services Provider, has appointed Marc Heilemann as the Vice President, Business Development for LATAM.He will lead the strategic objective of delivering best-in-class cloud services in the region.

Key Points: 
  • BOGOTA, Colombia, Sept. 17, 2020 /PRNewswire/ -- Cloud4C , World's leading Cloud Managed Services Provider, has appointed Marc Heilemann as the Vice President, Business Development for LATAM.He will lead the strategic objective of delivering best-in-class cloud services in the region.
  • At Cloud4C, Marc will spearhead the strategic growth vision, developing the Latin American and USA markets for the bouquet of specialized cloud offerings.
  • Sridhar Pinnapureddy, Founder and CEO, Cloud4C said, "Am delighted to welcome Marc to the Cloud4C family.
  • My focus would forging stronger technology alliances, work along with CIOs and IT leaders and help them attain their strategic objectives besides helping grow the market share in the LATAM region,"said Marc Heilemann Vice President, Business Development.

CreditShop to Partner With Spirit Airlines for More Travel Options

Thursday, September 17, 2020 - 2:00pm

CreditShop Holdings LLC (CreditShop) announced its partnership with Spirit Airlines (Spirit) today, aimed at expanding rewards and travel options for members of the Free Spirit loyalty program.

Key Points: 
  • CreditShop Holdings LLC (CreditShop) announced its partnership with Spirit Airlines (Spirit) today, aimed at expanding rewards and travel options for members of the Free Spirit loyalty program.
  • Spirits goal of providing Guests with high-value, low-cost travel matches up with CreditShops mission of providing simple and easy-to-understand credit cards with premium value.
  • Our ability to be a complementary lender, partnering with leading travel and retail brands, is a natural progression for our company, CreditShop Head of Revenue and Business Development Matt Tomko said.
  • Spirit Airlines (NYSE: SAVE) is committed to delivering the best value in the sky.

Delta Air Lines Announces Upsize of SkyMiles Financing to $9 Billion

Thursday, September 17, 2020 - 1:30pm

The Notes will be issued at a price to investors of 100% of their principal amount.

Key Points: 
  • The Notes will be issued at a price to investors of 100% of their principal amount.
  • Concurrently with the issuance of the Notes, Delta and SkyMiles IP Ltd. expect to enter into a credit agreement providing for a $3.0 billion term loan facility ("New Credit Facility"), also subject to customary closing conditions.
  • In total, the Notes and New Credit Facility will provide gross proceeds of $9.0 billion, an increase of $2.5 billion from the anticipated original $6.5 billion deal size, at a blended average annual rate of 4.75%.
  • Delta Air Lines (NYSE: DAL) is the U.S. global airline leader in safety, innovation, reliability and customer experience.