Company news in brief

Tullow Oil refinances credit lineAfrica focused Tullow Oil Plc said yesterday it refinanced US$2.5 billion of loans borrowed against its oil and gas reserves.Tullow, which has a market value of around US$3.1 billion, had net debt of US$3.6 billion as of Oct. 31, racked up during the oil downturn.Tullow also said it had decided to reduce the commitments of its revolving corporate credit facility to US$600 million from US$800 million. – Nampa/ReutersUnilever leans towards single structureUnilever sees a single corporate structure as in the best interests of the company and its shareholders, but has not yet made a decision to pursue one, it said on Tuesday.The dual-headed, Anglo-Dutch consumer goods group said a single share class would provide "greater ongoing strategic flexibility for value-creating portfolio change".After rebuffing a US$143 billion takeover offer from Kraft Heinz, Unilever said in April it would review its corporate structure, with an aim to make a decision by the end of the year.Omnia Holdings HY profit surges 32%Omnia Holdings, a South African chemicals and fertiliser maker, said its half-year profit surged 32%, underpinned by improvement in its Australian agricultural business and a recovery in their mining division.Diluted headline earnings per share (HEPS) for the six months ended Sept. 30 rose to 397 cents per share from the restated 301 cents a year ago.HEPS is the main profit measure used in South Africa that strips out certain one-off times. – Nampa/ReutersNampak reports 15% rise in earningsSouth African diversified packaging group Nampak reported a 15% increase in full-year earnings, assisted by good performance in its metal divisions.Headline earnings per share for the year to September 30 rose to 123.8 cents from 107.6 cents a year earlier, said Nampak, which supplies plastic milk bottles to Britain and operates in several African countries.Nampak is grappling with weak economic growth in South Africa and Angola were consumers are spending less, substituting products or downsizing to smaller packaged goods. – Nampa/ReutersSoftBank offers to buy Uber at discountJapan's SoftBank Group Corp is offering to purchase shares of Uber Technologies Inc at a valuation of US$48 billion, a 30% discount to its most recent valuation of US$68.5 billion, a person familiar with the matter has said.Even at the discounted price, Uber is the world's second-highest valued private venture-backed company, after China's ride-service company Didi Chuxing, and the offer is a chance for early investors to lock in substantial profits and for employees to cash in shares that have to date only had value on paper. However, the 30% discount is steep given Uber's plan to launch an initial public offering in 2019, said Phil Haslett, co-founder and head of investments at secondary marketplace EquityZen. – Nampa/Reuters

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