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Nokia sells Here to carmakers for EUR 2.8 bln
2015-08-03 08:26:00| Telecompaper Headlines
(Telecompaper) Nokia has reached an agreement to sell its digital mapping and location services business Here to a consortium of carmarkers for an enterprise value of EUR 2.8 billion. Audi, BMW and Daimler will pay a net price of just over EUR 2.5 billion, after compensation for certain liabilities at Here, Nokia said. The sale is expected to close in the first quarter of 2016. Nokia first announced plans to sell Here in April, when it agreed the merger with Alcatel-Lucent. After selling Here and its mobile phone business last year, Nokia will focus exclusively on the network equipment market, as well as its licensing business. Here already serves much of the world's automakers with mapping services, as well as supplying many mobile phone operating systems, including Windows, Android and iOS. The company generated an adjusted operating profit of EUR 46 million on revenues of EUR 552 million in the first half of this year. It recorded an operating loss of EUR 1.241 billion in the period, after an impairment of EUR 1.209 billion to write off goodwill.
UPS to buy Coyote Logistics for $1.8 bln from Warburg Pincus
2015-07-31 15:49:17| Trucking - Topix.net
United Parcel Service Inc said it would buy Coyote Logistics from private equity firm Warburg Pincus for $1.8 billion to expand its full-truckload services. The world's largest courier company said on Friday the deal is expected to add to its earnings in 2016.
Tags: buy
ups
logistics
coyote
Blackstone pursues sale or IPO for Polymer Group Inc; deal could approach $3 bln
2015-07-29 15:30:00| Industrial Machines - Topix.net
Blackstone Group is shopping specialty materials company Polymer Group Inc. to prospective buyers in a deal that could approach $3 billion in value, according to a source familiar with the process. The firm is said to be preparing the company for either a sale or IPO.
Tags: group
sale
approach
deal
Ooredoo H1 revenue falls 5.4% to USD 1.2 bln
2015-07-28 08:21:00| Telecompaper Headlines
(Telecompaper) Ooredoo Group reported a 5.4 percent decline in revenues for the first half of 2015 to USD 1.187 billion, hurt by the stronger dollar. In local currency in Kuwait, Algeria and Maldives, the operator posted revenue growth, and the total number of subscribers rose by 11.3 percent year-on-year to 24 million on 30 June. EBITDA declined to USD 400 million from USD 490 million in the same period of 2014. Net profit declined to USD 55.8 million from USD 171.8 million in 2014, hurt by adverse currency movements in Tunisia and Algeria as well as foreign exchange losses of USD 44.1 million, mainly from Algeria. Chairman Sheikh Saud Bin Nasser Al Thani said customer and revenue growth performance demonstrates progression and delivery of the group's strategy to invest in differentiating customer experience while providing world-leading network speeds. Al Thani said the group will continue to execute its date-centric strategy to take advantage of the opportunities offered by an increasingly digital world.
Buyouts Snapshot: Texas firm Sterling Group raises $1.25 bln for Fund IV in three months
2015-07-27 14:39:57| Chemicals - Topix.net
Sterling Group , the Houston-based middle-market firm, took about three months of formal fundraising to raise the largest buyout pool in its history, with $1.25 billion in commitments for Sterling Group Partners IV. Partner Kevin Garland said Sterling Group was able to raise Fund IV quickly because of its team effort to stay in touch with LPs.
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