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Telefonica Deutschland raises EUR 3.6 bln in share issue
2014-09-24 15:05:00| Telecompaper Headlines
(Telecompaper) Telefonica Deutschland has raised EUR 3.6 billion in its rights issue to help finance the takeover of rival E-Plus. Shareholders subscribed for 99.92 percent of the shares on offer, and majority shareholder Telefonica exercised all its rights to maintain its stake in the German subsidiary. Each share held entitled shareholders to one new share at the discounted price of EUR 3.24. The bookrunners were sell on the market the remaining shares not subscribed in the rights issue. The issue of 1.12 billion new shares doubles Telefonica Deutschland's outstanding capital, and another 740.7 million new shares will be issued to KPN as partial payment for E-Plus.
Tags: share
issue
eur
deutschland
Toshiba focuses on Southeast Asia with USD 1 bln investment
2014-09-24 09:24:00| Telecompaper Headlines
(Telecompaper) Toshiba wants to invest USD 1 billion in Southeast Asia over the next five years and double its current sales to USD 7 billion. CEO Hisao Tanaka made the announcement as part of the manufacturer's strategy to expand its business in the region. Tanaka said that Southeast Asia has long been a strategic manufacturing hub for Toshiba's major businesses, including semiconductors, hard disk drives and SSD in the Storage business, transmission and distribution equipment and industrial motors, and TVs and home appliances. Toshiba will shortly start operation of a new infrastructure business in Indonesia, part of a regional network it is putting in place, and is also promoting major initiatives in healthcare. The company company recently positioned healthcare as one of its three main pillars of business and is building a new medical equipment manufacturing plant in Malaysia, alongside the medical equipment sales company it established this June.
Tags: asia
investment
usd
toshiba
Rocket Internet sets IPO price range, to raise EUR 1.5 bln
2014-09-24 08:17:00| Telecompaper Headlines
(Telecompaper) German start-up incubator Rocket Internet has priced its initial public offering at EUR 35.50-42.50 per share, taking the value of company to around USD 8 billion. At the mid-point of the price range and including a greenshoe option, Rocket can expect gross proceeds of about EUR 1.477 billion. The company initially planned to raise EUR 750 million with its IPO. The expected proceeds include EUR 582.5 million from cornerstone investors, who along with existing shareholders have committed to a 12-month lock-up period. The free float after lock-ups will be 24 percent. Founded in 2007 by brothers Oliver, Alexander and Marc Samwer, Rocket Internet has set up e-commerce sites and online marketplaces in more than 100 countries.
Tags: internet
price
range
eur
Sigma-Aldrich's $17 bln buyout seen as boost for lab supplier VWR
2014-09-23 20:11:44| Chemicals - Topix.net
The large premium Germany's Merck KGaA agreed to pay in a $17 billion acquisition of Sigma-Aldrich Corp shines a spotlight on, and potentially raises the value of, a company Merck discarded a decade ago. VWR Corp, a supplier of laboratory chemicals and equipment with annual sales of about $4.2 billion, is owned by private equity firm Madison Dearborn Partners.
Tags: lab
supplier
boost
buyout
Telefonica buys GVT for EUR 7.2 bln in cash plus shares
2014-09-19 09:43:00| Telecompaper Headlines
(Telecompaper) Telefonica has confirmed its acquisition of Vivendi's Brazilian broadband operator GVT in a deal worth around EUR 7.2 billion in cash and shares. A final agreement was signed on 19 September after Vivendi had agreed to enter into exclusive negotiations with Telefonica on 28 August, snubbing a EUR 7 billion offer from Telecom Italia. The agreement, which was reached comfortably before the end of the three-month negotiation period, includes the payment of EUR 4.66 billion in cash, from which a bank debt of around EUR 450 million and adjustments in working capital must be deducted. In addition, Vivendi will receive 7.4 percent of Telefonica Brasil shares, at a stock market value of EUR 2.02 billion as of 18 September, and 5.7 percent of Telecom Italia shares at a stock market value of EUR 1.01 billion as of 18 September. Vivendi confirmed in a statement that it will also be liable for tax estimated at around EUR 500 million. It said the transaction should close before the end of the first-half of 2015, subject to regulatory approval from Anatel and Cade, Brazil's telecoms and competition authorities.
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