Sunday, 29 Nov 2020

Analysis & Comment

Nordex shares jump on $474 million project pipeline sale

FRANKFURT (Reuters) – Shares in wind turbine maker Nordex (NDXG.DE) jumped 12.8% in pre-market trade on Monday after the group agreed to sell most of its project development pipeline to RWE (RWEG.DE) for 402.5 million euros ($474 million). The 2.7 gigawatts of wind and solar projects are located in France, Spain, Sweden and Poland and […]

Private equity firms considering takeover bid for Kansas City Southern: WSJ

(Reuters) – A group of buyout investors are considering a takeover bid for Kansas City Southern (KSU.N) for a deal value of about $20 billion, the Wall Street Journal reported on Friday, citing people familiar with the matter. Blackstone Group Inc’s (BX.N) infrastructure arm and Global Infrastructure Partners are together exploring a deal and speaking […]

Mexico's Alfa to spin off rest of stake in Nemak, shares surge

MEXICO CITY (Reuters) – Mexican conglomerate Alfa (ALFAA.MX) said on Friday it plans to spin off the entirety of its remaining 75% stake in auto parts business Nemak (NEMAKA.MX), sending Alfa’s shares surging 16.5%. If shareholders approve the proposal at an Aug. 17 meeting, they would receive one share of Controladora Nemak for each of […]

Shares in Brazil's AES Tiete slump as BNDES reaches deals with AES Corp

SAO PAULO (Reuters) – Shares in the Brazilian power company AES Tiete Energia SA (TIET11.SA) fell 7.7% after development bank BNDES agreed to sell part of its stake to the firm’s controlling shareholder AES Corp (AES.N). AES Corp offered to buy 65% of BNDES’ stake in AES Tiete for 17.15 reais ($3.33) per share in […]

Eurazeo sets September deadline for last-ditch bids for Europcar: sources

LONDON/FRANKFURT (Reuters) – Investment firm Eurazeo has asked bidders to submit last-ditch bids in September for French car rental firm Europcar Mobility Group SA (EUCAR.PA) as it seeks to avert a painful restructuring, sources familiar with the matter told Reuters. The Paris-listed firm has attracted takeover interest from Volkswagen (VOWG_p.DE) but a bid has yet […]

Michael Klein's Churchill Capital Corp IV files for upsized IPO

(Reuters) – Churchill Capital Corp IV, a special purpose acquisition company (SPAC) run by former Citigroup banker Michael Klein, raised the size of its initial public offering (IPO) to $1.5 billion. The IPO of Klein’s fourth blank-check company had earlier planned to raise $1 billion. SPACs typically raise money in an IPO to pursue an […]

Hughes Network Systems to invest $50 million to join OneWeb consortium

TOKYO (Reuters) – U.S. satellite broadband provider Hughes Network Systems has agreed to invest $50 million in the British government and Bharti-backed consortium buying collapsed satellite operator Oneweb. Hughes previously partnered with OneWeb, which collapsed in late March with 74 out of a planned 650 satellites launched after top backer SoftBank Group Corp (9984.T) declined […]

Exclusive: Mexico moves to launch world's largest oil hedge – sources

NEW YORK/MEXICO CITY (Reuters) – Mexico has asked top Wall Street banks to submit quotes for its giant oil hedging program, sources familiar with the matter said on Friday, while trading in crude oil options has increased this week ahead of the megadeal. The finance ministry has asked banks for price quotes, one source with […]

LATAM Airlines creditors oppose bankruptcy loan proposal

SAO PAULO (Reuters) – A $2.45 billion loan proposal for bankrupt LATAM Airlines (LTM.SN) by Oaktree Capital Management LP and the airline’s shareholders has run into opposition from creditors, who say the debt package is too expensive. The creditors filed an objection on Thursday to the debtor-in-possession (DIP) loan in U.S. Bankruptcy Court in Manhattan, […]