News / Finance
WhisperfromWallStreet.com Afternoon Stocks Being Promoted - NESTLE SA REG SHRS S (Other OTC: NSRGY.PK) - COMVERSE TECH INC # (Other OTC: CMVT.PK) - NRG ENERGY PFD (Other OTC: NRGEO.PK)
NESTLE SA - COMVERSE TECH INC - NRG ENERGY
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Afternoon Stocks Being Promoted
NESTLE SA REG SHRS S (Other OTC: NSRGY.PK)
Nestle has concluded the sale of its South African Crosse & Blackwell mayonnaise business to Tiger Brands Limited.
The sale agreement signed on 22 May 2009 will transfer ownership and management of Nestlé’s Crosse & Blackwell mayonnaise production plant in Bellville, Cape Town, to Tiger Brands Limited. The transaction is subject to regulatory approvals.
The sale is the result of a closed bidding process and follows several months of discussion with a range of potential partners including a number of black-owned business consortiums, which expressed an interest in entering the food manufacturing business.
After several rounds of discussion and a due diligence process with a short-list of four potential bidders, Tiger Brands was found to be the most suitable consortium in meeting three key Nestlé requirements:
Ensuring the continued survival and growth of the Crosse & Blackwell mayonnaise brand;
Ensuring a secure future for the approximately 100 employees currently employed at the plant; and
Ensuring a favourable return for Nestlé shareholders.
COMVERSE TECH INC # (Other OTC: CMVT.PK)
Promising startup Galil Software is providing jobs for Arab engineers who have had few options up until now. Israeli Arabs have never had it easy getting jobs in the country's high-tech industry. Even when times were booming and work was plentiful, Arab engineers found it difficult and in many cases impossible to get their foot in the door because Israel's high-tech industry is dominated by a primarily Jewish old-boy network, where military service and connections play a key role in getting hired.
Arab engineers are at a major disadvantage since few serve in the army or have other entrées to the country's high-tech elite. After completing their university degrees, many are thus forced to take positions in professions such as teaching or go into family businesses. But their plight may just be starting to improve with the success of Galil Software, a rare Israeli Arab high-tech startup.
NRG ENERGY PFD (Other OTC: NRGEO.PK)
We provide reliable wholesale electricity safely and in a manner consistent with our civic and environmental commitment to the communities we serve.
We strive to be a regionally focused, multi-fuel, carbon-diversified scale generator with assets across the merit order, and around transmission in each of our core markets, with the capability to procure, transport and trade all of the commodities involved in our business.
In our complex business, it is essential that we work together as a team, harnessing the power of our combined skills, outlooks and efforts to address business opportunities and solve problems.
Investor awareness is a means to let investors know your company is prime for investing. If you'd like to know more about arranging an investor awareness campaign please contact us, details at the bottom of this release.
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