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Civitas Resources Agrees To Buyback $300 Mln Of Its Common Stock From CPPIB
(RTTNews) - Civitas Resources, Inc. (CIVI) reported on Tuesday that it has agreed to repurchase approximately 4.9 million shares of its common stock, par value $0.01 per share at a price of $61.00 per share, resulting in aggregate consideration of approximately $300 million from its largest shareholder, Canada Pension Plan Investment Board or CPPIB.
Following the Repurchase, CPPIB will remain the Company's largest shareholder and will own approximately 21% of the Common Stock.
As of December 31, 2022 and prior to the Repurchase, Civitas had approximately 85.1 million shares of Common Stock outstanding. Following the Repurchase, Civitas will have approximately 80.2 million shares of Common Stock outstanding.
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Spain GDP Growth Softens; Inflation Eases
Spain's economic growth slowed marginally in the first quarter and inflation weakened in April on lower gas and electricity prices, official data showed on Tuesday. Gross domestic product expanded 0.6 percent in the first quarter, which was slightly slower than the revised 0.7 percent growth posted a quarter ago, the preliminary data from the statistical office INE showed.
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European Shares Rise On Tariff Relief Hopes
European stocks were modestly higher on Tuesday ahead of a slew of earnings and key data releases due this week.
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Asian Shares Mixed With US-China Trade Tensions In Focus
Asian stocks ended mixed in muted trade on Tuesday, with Japanese markets closed for Showa Day holiday.
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Yen Rises Ahead Of BoJ Monetary Policy Meeting
The Japanese yen strengthened against other major currencies in the Asian session on Tuesday, as traders await the Bank of Japan (BoJ) monetary policy decision due this week.
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2h 38min ago
German Consumer Sentiment Set To Continue Recovery: GfK
German consumer confidence is set to continue its recovery in May as trade tariff hikes by the US administration had a limited impact, a closely watched survey showed Tuesday. The forward-looking consumer sentiment index improved unexpectedly to -20.6 in May from revised -24.3 in the previous month.
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Commodity Currencies Rise Amid Risk-on Mood
The commodity currencies such as Australia, the New Zealand and the Canadian dollars strengthened against their major currencies in the Asian session on Tuesday, as traders remain optimistic and keep a close eye on developments on the tariff front, with U.S. Treasury Secretary Scott Bessent reportedly said he believes an agreement in principle can reached on "17 or 18 important trade deals" the administration is currently negotiating.
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3h 19min ago
European Economic News Preview: Eurozone Economic Sentiment Due
Economic sentiment and monetary aggregates from the euro area and consumer sentiment from Germany are the top economic news due on Tuesday. At 2.00 am ET, the market research group GfK publishes German consumer sentiment survey results. The confidence index is forecast to fall to -25.6 in May from -24.5 in April.
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4h 17min ago
Canadian Dollar Climbs Against Most Majors
The Canadian dollar strengthened against most major currencies in the Asian session on Tuesday.
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