Friday, 25 Sep 2020

Analysis & Comment

EssiLux case puts $8.5 billion GrandVision takeover in doubt

AMSTERDAM (Reuters) – EssilorLuxottica said on Monday that GrandVision’s actions during the coronavirus crisis could provide grounds for ending its 7.2 billion euro ($8.5 billion) takeover of the Dutch eyewear stores operator. The French-Italian maker of Ray-Ban told a court hearing in Rotterdam that GrandVision had breached agreements by suspending payments to store owners and […]

Atlantia picks Partners Group for talks on Telepass sale

MILAN (Reuters) – Italy’s Atlantia (ATL.MI) said on Friday it had picked private equity firm Partners Group (PGHN.S) to start exclusive talks for the sale of a 49% stake in its toll-road payment business Telepass. In a statement confirming what sources earlier told Reuters, the Benetton-backed infrastructure group said the exclusivity period with Partners Group […]

Atlantia set to pick Partners Group for talks on Telepass sale: sources

MILAN (Reuters) – Italian infrastructure group Atlantia (ATL.MI) is set to pick private equity firm Partners Group to start exclusive talks for the sale of a minority stake in its toll-road payment business Telepass, two sources with knowledge of the matter said. The transaction, which will involve a stake of up to 49% in the […]

Apollo-owned cloud company Rackspace shares slumps 19% after Nasdaq debut

(Reuters) – Shares of cloud services firm Rackspace Technology Inc RXT.O plunged 19% after making their Nasdaq debut on Wednesday, as the company owned by Apollo Global Management sold shares to investors in its $703.5 million initial public offering. The stock was trading at $17.00 on Wednesday, compared with its IPO price of $21.00 per […]

U.S. utility Evergy plans to remain independent company: sources

(Reuters) – Evergy Inc (EVRG.N) plans to remain independent after the board of the U.S. Midwest utility decided that bids solicited from prospective merger partners did not offer sufficient value, two sources familiar with the matter said on Tuesday. The news dropped Evergy’s stock more than 10% to its lowest price since mid-May. The company […]

Nordex shares hit five-month high on $474 million project pipeline sale

FRANKFURT (Reuters) – Shares in wind turbine maker Nordex (NDXG.DE) jumped nearly a quarter 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 (GW) of wind and solar projects are located in France, Spain, Sweden and Poland and […]

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 […]