Press Corporation Limited (PCL.mw) listed on the Malawi Stock Exchange under the Industrial holding sector has released it’s 2008 annual report.For more information about Press Corporation Limited (PCL.mw) reports, abridged reports, interim earnings results and earnings presentations, visit the Press Corporation Limited (PCL.mw) company page on AfricanFinancials.Document: Press Corporation Limited (PCL.mw) 2008 annual report.Company ProfilePress Corporation Limited is the largest holding company in Malawi; with vested interests in real estate, energy, food and beverages, consumer goods, financial services and telecommunications. The highly diversified company has stakes in 13 companies in Malawi made up of 8 subsidiaries, 4 joint ventures and one associate. Well-known brands in its portfolio include: National Bank of Malawi in the financial services sector, Malawi Telecommunications Limited and Telekom Networks Limited in the telecommunication sector, Ethanol Company Limited and Presscane Limited in the energy sector, People’s Trading Centre Limited in the consumer goods sector, Press Properties Limited and Manzini Limited in the property investment and development sector, and The Foods Company in the food manufacturing sector. Press Corporation Limited is listed on the Malawi Stock Exchange
in the afternoon of November 7th, unusually hot Baidu building in Tang and song, holding a notebook, in the middle of the two meeting accepted the newspaper interview. Five days ago, the U.S. local time on November 2nd, Baidu announced the acquisition of Providence private capital company (Providence Equity Partners) all the shares held by Iqiyi.
The acquisition of Baidu’s
behavior seems to release a signal to Iqiyi as the representative of the video site is increasingly uncertain future.
as general manager of Baidu enterprise development department, Tang Hesong is fully responsible for Baidu investment M & a business. In the Baidu acquisition of Iqiyi as a party, and this is the first time he stated on behalf of Baidu holdings of Iqiyi’s evaluation logic.
previously, Baidu has more than 50% of the shares held by Iqiyi. After the completion of the acquisitions, Baidu will hold the majority stake in Iqiyi, the other is the main management incentive.
holdings will be completed in the fourth quarter of this year. Since then, Iqiyi as an independent subsidiary will merge into Baidu’s earnings. Robin Li is very supportive, he is very cute cute team now, but also very recognized this business direction. For Baidu, has a strong strategic significance of the move, we are very optimistic about Iqiyi and Baidu strategic synergy value, is also optimistic about the development potential of Iqiyi." Tang Hesong said.
in fact, Iqiyi Holdings Robin Li suggested stopping at the desk for a short time — this year before the national day, Tang and song found Robin Li, suggested that Baidu investment of Providence private capital repurchase holdings of Iqiyi shares. After several rounds of discussions, the strategic direction of the management of the pattern of the video industry and Iqiyi reached a consensus. Three days after the end of the holiday, Robin Li decided to Baidu takeover.
value pre judgment
If the price is
, Baidu had business is quite a bargain: in January 2010, Baidu and Providence joint venture capital Iqiyi, Baidu search traffic and brand investment accounted for more than 50% of shares, Providence will invest $50 million to become the second largest shareholder of Baidu shares flow is one of the methods of foreign investment.
in the second half of 2011, Baidu and Providence capital together to increase investment. In May this year and August, Baidu has two times totaling tens of millions of dollars for Iqiyi convertible redeemable preference shares.
Tang Hesong revealed that, in fact, when the investment video site business prospects are not clear. However, Iqiyi launched 18 months after the month covering billions of dollars, also let Baidu and Providence capital share the development dividend. The Baidu Iqiyi repurchase of the Providence capital, is also a good choice, which get a better return.
also for Baidu, if Iqiyi profit, Baidu repurchase price must be more expensive. The industry as a whole of the video company’s earnings expectations