Business Services Industry
Semco gets infusion of cashfrom Singapore investment firm.(News)(SEMCO Energy Inc.)
Crain's Detroit Business, April, 2004 by Lane, Amy
Byline: Amy Lane A Singapore investment firm headed by a former U.S. ambassador is becoming Semco Energy Inc.'s largest stockholder, in a $50 million deal that also gives the firm two seats on Semco's board. An affiliate of equity firm k1 Ventures Ltd. ultimately could hold more than 23 percent of Farmington Hills-based Semco's outstanding common stock, in part through securities convertible to nearly 8.5 million common shares.
Semco (NYSE: SEN) issued $31 million of the preference shares March 19 to K-1 GHM L.L.L.P., and will issue the remaining $19 million pending approval by Semco shareholders at the company's May 24 annual meeting in Port Huron. The private placement injects needed cash into the natural-gas company. It also gives it a major...
- 5 Rules for Immediate Annuities
- Death in the Family: 12 Things to Do Now
- Dumbest Things You Do With Your Money
- 6 Online Networking Mistakes to Avoid
- 401(k) Mistakes to Avoid
- 5 Economic Scenarios to Keep You Up at Night
- The Real ‘Best Places to Retire’
- Best Credit Cards for You
- 12 Tough Questions to Ask Your Parents
- The Real ‘Best Colleges’
- Home Buyer Tax Credit: How to Cash In
- Why You Shouldn't Bash Cash
- 8 Phony 'Bargains' and Better Alternatives
- Danger: 3 Debit Card Scams to Avoid
- 6 Myths About Gas Mileage
- 29 Fees We Hate Most
- Quick and Easy Ways to Boost Returns
- Best Stocks to Buy Now
- Lower Your Taxes: 10 Moves to Make Now
- New Jobs: 8 Lessons from Real-Life Career Switchers
- The New Job Market: Who Wins and Who Loses?
- Health Care Reform's Public Option: Everything You Need to Know
- Volunteer Work When Unemployed: Should You Work for Free?
- Whose Recovery Is This?
- Long-Term-Care Insurance: 4 Biggest Risks to Avoid
Most Recent Business Articles
Most Recent Business Publications
Most Popular Business Articles
- 7 tips for effective listening: productive listening does not occur naturally. It requires hard work and practice - Back To Basics - effective listening is a crucial skill for internal auditors
- LIFO vs. FIFO: a return to the basics
- FAS 109: a primer for non-accountants - Financial Accounting Standards Board's "Statement 109: Accounting for Income Taxes"
- Using object-oriented analysis and design over traditional structured analysis and design
- Design a commission plan that drives sales - Sales Commissions
