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Stock Market & Financial Investment News

News Breaks
January 23, 2013
16:19 EDTBGCGeneral Cable provides status update of restated financial statements
As described in the Forms 8-K dated October 29 and November 13, the company intends to correct the effect of the accounting errors including the potential inventory theft in Brazil on previously issued interim financial statements by restating the three and nine months ended September 30, 2011 that will be presented comparatively in its Quarterly Report on Form 10-Q for the period ended September 28, 2012 and amending previously filed Forms 10-Q for the periods ended June 29, 2012 and March 30, 2012. Contemporaneous with the filing of the above referenced Quarterly Reports, the Company also intends to file an Annual Report on Form 10-K/A to restate previously issued annual financial statements and related financial information contained therein as of December 31, 2011 and 2010 and the three year period then ended.
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August 31, 2015
16:24 EDTBGCGeneral Cable completes sale of Thailand operations
General Cable announced it has completed the sale of its Thailand operations to MM Logistics Co. Ltd. for cash consideration of approximately $88M. The closing of the sale of the Thailand operations is the first of a two-step closing process. The company expects the second closing to complete the sale of the remaining Asia Pacific operations including China, New Zealand and Australia to occur at the end of September, subject to customary closing conditions. Upon completion, the company expects to generate approximately $205M of cash proceeds from the sale of Thailand, China, New Zealand and Australia. Proceeds will be used to reduce outstanding borrowings and pay related fees and expenses.
16:09 EDTBGCLongbow to hold a conference
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