Company news in brief
Dis-Chem to buy Medicare Health
South African drug-store chain Dis-Chem Pharmacies said yesterday it would take stakes in two software firms and had signed a deal to buy healthcare group Medicare Health for R282 million to expand its business.
The acquisition of Medicare Health gives Dis-Chem control of a company that generated revenue of about R1 billion for the year ended February and expands its network coverage to 411 pharmacy clinics, it said.
The company also said it would buy an 87.5% stake in clinical management software firm Healthforce and a 25% stake in healthcare solutions provider Kaelo Holdings.
The Kaelo and Healthforce investments "place Dis-Chem at the heart of primary healthcare consumption, at a price point that a growing number of South Africans can start to afford," it said.
Healthforce is operated in close to 440 clinic rooms across South Africa, the company added. – Nampa/Reuters
Sainsbury's warns of gaps on shelves
British supermarket group Sainsbury's warned yesterday that gaps will start to appear on shelves within days if transport ties are not quickly restored with mainland Europe.
The transport of freight across the English Channel has been disrupted after France suspended travel links with Britain to try to curb a new faster spreading strain of Covid-19.
"If nothing changes, we will start to see gaps over the coming days on lettuce, some salad leaves, cauliflowers, broccoli and citrus fruit - all of which are imported from the continent at this time of year," Sainsbury's said.
It urged the British and French governments to come to a mutually agreeable solution that prioritises the immediate passage of produce and any other food at the ports. – Nampa/Reuters
Pfizer paid 15.5 euro per dose for vaccine
The European Union has agreed to pay 15.5 euro per dose for the Covid-19 vaccine developed by Pfizer and BioNTech, an internal EU document reviewed by Reuters showed.
The price, which is confidential and was negotiated for a total of 300 million doses, is slightly lower than the US$19.50 per shot the United States agreed to pay for a first shipment of 100 million doses of the same vaccine.
The EU document dated 18 Nov. was circulated internally after the EU announced its supply deal with Pfizer and its German partner BioNTech on Nov. 11. – Nampa/Reuters
Shell to write down assets again
Royal Dutch Shell yesterday said it will write down the value of oil and gas assets by US$3.5 billion to US$4.5 billion following a string of impairments this year as it adjusts to a weaker outlook.
In an update ahead of its fourth quarter results on 4 February, Shell said the post-tax charge was due in part to impairments on its Appomattox field in the US Gulf of Mexico, the closure of refineries and liquefied natural gas (LNG) contracts.
In October, Shell, the world's biggest LNG trader, wrote down the value of its LNG portfolio by just under US$1 billion, focusing on its flagship Prelude project in Australia.
That followed a US$16.8 billion writedown in the second quarter which also included Prelude and a sharp cut in its price outlook.
CEO Ben van Beurden on 11 Feb. will unveil Shell's long-term strategy to sharply reduce its greenhouse gas emissions and expand its low-carbon energy and power businesses. – Nampa/Reuters
Vodafone ends talks to sell Egypt stake
Vodafone said yesterday it had ended talks with the Saudi Telecom Company on the US$2.4 billion sale of its 55% shareholding in Vodafone Egypt after a series of missed deadlines to complete the deal.
STC, the kingdom's biggest telecom operator, had struck a preliminary deal in January with the London-listed telecoms company to buy the stake as it sought growth in the Arab world's most populous nation.
Vodafone had said in September that it remained in talks to finalise the deal in the near future despite the expiry of an initial memorandum of understanding.
STC cited coronavirus-driven logistical challenges to seek extension twice to the initial agreement, first in April and then in July.
With 44 million subscribers and a 40% market share, Vodafone Egypt is the country's biggest mobile operator. – Nampa/Reuters
South African drug-store chain Dis-Chem Pharmacies said yesterday it would take stakes in two software firms and had signed a deal to buy healthcare group Medicare Health for R282 million to expand its business.
The acquisition of Medicare Health gives Dis-Chem control of a company that generated revenue of about R1 billion for the year ended February and expands its network coverage to 411 pharmacy clinics, it said.
The company also said it would buy an 87.5% stake in clinical management software firm Healthforce and a 25% stake in healthcare solutions provider Kaelo Holdings.
The Kaelo and Healthforce investments "place Dis-Chem at the heart of primary healthcare consumption, at a price point that a growing number of South Africans can start to afford," it said.
Healthforce is operated in close to 440 clinic rooms across South Africa, the company added. – Nampa/Reuters
Sainsbury's warns of gaps on shelves
British supermarket group Sainsbury's warned yesterday that gaps will start to appear on shelves within days if transport ties are not quickly restored with mainland Europe.
The transport of freight across the English Channel has been disrupted after France suspended travel links with Britain to try to curb a new faster spreading strain of Covid-19.
"If nothing changes, we will start to see gaps over the coming days on lettuce, some salad leaves, cauliflowers, broccoli and citrus fruit - all of which are imported from the continent at this time of year," Sainsbury's said.
It urged the British and French governments to come to a mutually agreeable solution that prioritises the immediate passage of produce and any other food at the ports. – Nampa/Reuters
Pfizer paid 15.5 euro per dose for vaccine
The European Union has agreed to pay 15.5 euro per dose for the Covid-19 vaccine developed by Pfizer and BioNTech, an internal EU document reviewed by Reuters showed.
The price, which is confidential and was negotiated for a total of 300 million doses, is slightly lower than the US$19.50 per shot the United States agreed to pay for a first shipment of 100 million doses of the same vaccine.
The EU document dated 18 Nov. was circulated internally after the EU announced its supply deal with Pfizer and its German partner BioNTech on Nov. 11. – Nampa/Reuters
Shell to write down assets again
Royal Dutch Shell yesterday said it will write down the value of oil and gas assets by US$3.5 billion to US$4.5 billion following a string of impairments this year as it adjusts to a weaker outlook.
In an update ahead of its fourth quarter results on 4 February, Shell said the post-tax charge was due in part to impairments on its Appomattox field in the US Gulf of Mexico, the closure of refineries and liquefied natural gas (LNG) contracts.
In October, Shell, the world's biggest LNG trader, wrote down the value of its LNG portfolio by just under US$1 billion, focusing on its flagship Prelude project in Australia.
That followed a US$16.8 billion writedown in the second quarter which also included Prelude and a sharp cut in its price outlook.
CEO Ben van Beurden on 11 Feb. will unveil Shell's long-term strategy to sharply reduce its greenhouse gas emissions and expand its low-carbon energy and power businesses. – Nampa/Reuters
Vodafone ends talks to sell Egypt stake
Vodafone said yesterday it had ended talks with the Saudi Telecom Company on the US$2.4 billion sale of its 55% shareholding in Vodafone Egypt after a series of missed deadlines to complete the deal.
STC, the kingdom's biggest telecom operator, had struck a preliminary deal in January with the London-listed telecoms company to buy the stake as it sought growth in the Arab world's most populous nation.
Vodafone had said in September that it remained in talks to finalise the deal in the near future despite the expiry of an initial memorandum of understanding.
STC cited coronavirus-driven logistical challenges to seek extension twice to the initial agreement, first in April and then in July.
With 44 million subscribers and a 40% market share, Vodafone Egypt is the country's biggest mobile operator. – Nampa/Reuters
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