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Monday, 5 June 2017

International news on 5 June 2017

A handful of international stories worth a look on a slow news morning:

Incumbent UK Prime Minister Theresa May is running neck and neck with Labour’sJeremy Corbyn ahead of Thursday’s snap parliamentary election, which May had called to win a stronger mandate as she begins negotiating Britain’s exit from the European Union. One pollster is even suggesting a hung parliament is a possibility.

News of a tightening UK race comes as the Daeshbags have claimed responsibility for theSaturday night terror attack in London that left seven dead. Read more on Reuters, in the Guardian or the Wall Street Journal.

Dana Gas has appointed advisors to help it restructure about USD 700 mn in Islamic debtdue in October. Houlihan Lokey will be financial adviser and Squire Patton Boggs will provide legal counsel, Bloomberg reports, adding that the UAE-based driller is owed about USD 1 bn by Egypt.

NMC Healthcare is eyeing opportunities in Saudi Arabia. The biggest private sector health-care company in the UAE is looking to buy hospitals and other medical facilities in KSA amid early indications the kingdom will privatize services there. “I’m interested,” BR Shetty, the USD 6 bn company’s Indian-born founder, tells Bloomberg. “Whenever there is a chance, I’ll go. We have surplus funding, no problem.” Shetty was said last September to be interest in bidding for a piece of the planned USD 1.6 bn Alexandria Medical City here in Egypt, where he faces competition from the Batterjee family’s Saudi German Hospitals Group.

KSA warned against NYSE as IPO venue: “Saudi Arabia is nearing a long-awaited decision on the main international stock exchange for the initial public offering of its state energy company, with lawyers advising the kingdom that a New York listing poses the greatest litigation risk of any jurisdiction.” (Financial Times)

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