Tag Archives: invest

Sindh is ready to invest Rs1b to revive the Steel Mills oxygen plant | Instant News


KARACHI: The Chief Minister of Sindh, Syed Murad Ali Shah, said that looking at the Covid-19 situation in the country, especially in Sindh, his government would step in to make the two oxygen units in Pakistan Steel Mills operate at an additional cost. of Rs 1 billion.

“We are going through a very serious situation; Therefore, we must be prepared for any emergency, “said Murad Ali Shah while speaking with senior doctors and top doctors at CM House, Tuesday. The meeting was attended by provincial minister Dr Azra Fazal Pechuho, Nasir Shah, Adviser Murtaz Wahab, Principal Secretary Mumtaz Shah, PSCM Sajid Jamal Abro, VC Dow Dr Saeed Qureshi, Dr Bari, Dr Faisal Mehmood, Dr Shehla Baqi, Executive Director of JPMC, Dr Seemin Jamali, Dr Nusrat Shah, Dr Rafiq Khokhar, Dr Qaiser Sajjad, Dr Ghaffar Shoro, Dr Sharif Hashmi, Dr Qazi Wasiq, Dr Anoop, Dr Sabir Memon and others. At the start of the meeting, the main minister said that the new wave of the corona virus had a bad impact on big cities. “We are also facing its severity and trying to take all possible measures to control the situation,” he said. The doctors urged the chief minister to make the necessary arrangements for oxygen production. “If oxygen is given in time to the patient, his chances of going to the ventilator are reduced,” said Dr Qaiser Sajjad, adding that the provincial government must operate an oxygen plant at the Pakistan Steel Mill.

CM said that a federal government team had visited the factory and reported that it could not be turned back on. “We had a meeting with officers from the Pakistan Steel Mill together with PPP Chairman Bilawal Bhutto, and they told us it could be revived in three months at a cost of Rs1 billion,” he said, adding he would send a team of experts. to see if it is possible to revive the factory and in this case, the provincial government is ready to spend Rs1 billion. “We really need oxygen for that we will make every effort,” he vowed.

The doctors also advised the government to strictly enforce the Covid-19 SOP. “The situation in Sindh, right now, is not as bad as other provinces but Hyderabad, and Karachi districts in the East and South have been badly affected,” they pointed out. Doctors appreciated the efforts of the Sindh government and said the establishment of an Infectious Disease Hospital in Karachi, providing ventilators for each district and the recruitment of doctors and medical staff were commendable.

CM Murad Ali Shah said he had directed the district government and police to work in close coordination to ensure proper implementation of SOPs. He added that the Karachi government on Monday issued 93 warnings not to wear masks. A total of 28 shops / markets were issued challans for opening beyond closing time and a fine of Rs504,500 recovered and 510 shops / markets closed, 13 people arrested and 271 alerted. CM added that 71 transporters were challenged for violating SOPs and Rs35,000 was returned in fines. Likewise, three restaurants were also issued challans and Rs28,000 were found in fines, and one restaurant was closed after several warnings.

He said that while the government is taking drastic action, doctors, clerics and other figures must also play a role in educating the public against the pandemic. The doctors also advised the chief minister to vaccinate the elderly in their homes, which he has directed to the secretary’s health.

On the doctors’ advice, the chief minister decided to facilitate the use of private hospitals and government hospital cold storage chains to store the Covid vaccine. Murad Ali Shah told doctors that the government continues to audit its health facilities to ensure the availability of all necessary and relevant materials.

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Italian Minister Says Recovery Plan Rests on Upgrading the Private Sector | Instant News


Italy’s plans to start up its economy using grants and loans from EU recovery funds will not succeed without significant support from private investors, Minister of Infrastructure and Mobility Enrico Giovannini warned in an interview.

“Everyone is talking about public funds, but that is a distorted view,” said the minister. In an effort to shift the focus more towards a mix of public and private funding, Giovannini set up a commission within his ministry to explore ways of using other financial instruments for investment.

The Ministry has joint responsibility to invest 40.7 billion euros ($ 49 billion) of funds allocated to countries under the EU Next Generation program. Other European and national development programs will add another 20 billion euros.

Read more: Draghi Bet 261 billion Euro on a Redesign for the Italian Economy

The projects covered by the recovery plan, including the creation of a special economic zone and the construction of a high-speed railroad in the impoverished south, promise to create a “favorable environment” for business and ultimately serve to attract private investment, he said.

Investment Holding

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KKR Purchases New Zealand Premium Pet Food Business | Instant News


WELLINGTON, New Zealand – KKR & Co. has purchased New Zealand’s premium pet food company, Natural Pet Food Group, and will support its international expansion as affluent pet owners increasingly seek “high-quality, low-carb” food for their diets. animal.

The acquisition, whose financial terms were not disclosed, was funded by KKR Asian Fund IV, the global investment firm said on Monday.

Natural…

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New Zealand Rugby is getting closer and closer to selling shares to Silver Lake | Instant News


Stakeholders in New Zealand Rugby, the island’s Pacific island game governing body, have voted unanimously to sell a 12.5% ​​stake in its commercial rights to US private equity firm Silver Lake.

The vote in favor of the NZ $ 387 million investment came despite opposition from the New Zealand Rugby Players Association, including players on the country’s most famous team, the All Blacks.

Players have expressed concern that the game could become too commercialized if the proposed private equity investment was made: the fear other sports players also came up with a voice in the last few months.

Without player association ratification, the deal could be canceled. In a statement, the NZR said it would continue talks over the coming weeks with the NZR in an effort to find a solution.

According to New Zealand Rugby, the deal will bring important investment to grassroots rugby and technology and help to keep New Zealand players from moving to clubs in Europe and Japan.

Silver Lake’s stock portfolio in clubs and sporting events includes the mixed martial arts Ultimate Fighting Championship and Manchester City football club in the English Premier League.

To contact the author of this story with feedback or news, email Mark Latham

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Convertible lending and private equity: growth opportunities in Germany | Instant News


Classic convertible loans, a popular financing instrument in the venture capital sector, can also be an investment option for private equity investors at a time when attractive equity investments in Germany are very competitive. In particular, in the context of growth investment, which is often akin to venture capital conditions, convertible loans may be a better alternative when further capitalization is sought alongside the main investor (private equity).

From a venture capital perspective, convertible loans are very flexible financing instruments that are often available on short notice and can usually be completed without much effort. Convertible loans can be characterized by a loan component and a conversion component and are usually found in the early stages of the company’s existence, when the parties were still difficult to evaluate their inception.

However, convertible loans are increasingly being used by private equity investors to develop growing investment opportunities. The terms and conditions of the convertible loan must then be adjusted accordingly. This provides different scenarios for investors to consider, such as a leading private equity investor looking for additional investors. In this case, the lead investor will have a concrete idea of ​​their investment that will allow them to let other, more prudent private equity investors make more senior investments for them, allowing for predictable and attractive returns based on a fixed interest rate, plus options. equity investment later. This is even more so if private equity investors replace corporate debt financing, that is often an alternative route to get further funding.

Another example might be a situation where a private equity investor wants to postpone an equity investment decision while also being willing to invest in a more senior instrument with subsequent options for conversion to equity at an attractive conversion rate (via a predetermined internal rate of return).

German banking supervisory regulations, for credit transaction licenses, must be observed for any convertible loan, regardless of whether the loan is provided by venture capitalists or private equity investors. Although convertible bonds do not require such a license, parties often find this alternative too expensive and inflexible.

Such regulatory permit requirements can be avoided if investors have control over the company from a corporate perspective. Such control can be based, for example, on voting agreements or on transfers of share securities. In the latter process, the borrower’s shares would become collateral for the lender and would be sufficient to meet regulatory control requirements, as opposed to a single share pledge, which would only provide collateral but no control.

Security transfer
Of course, such control is not often desired by the parties, but there may be situations where shareholders believe in the growth of their business and are therefore willing to accept the transfer of such guarantees to enable the company’s next step in growth.

With regards to adaptation of convertible loans, private equity investors want to retain as much freedom as possible. In addition, investors will expect to be able to convert at any time, to exclude discontinuation by the company and, even in the event of a major investor’s exit, to be paid or still allowed to convert. Unlike in the case of venture capital, the company’s conversion or valuation is not based on the next round of financing (including potential discount or valuation limits) but on the pre-agreed internal rate of return of the primary investor’s equity investment or, alternatively, the pre-approved internal rate of return of instruments that can be converted in case of conversion.

In addition, private equity investors will request certain veto rights that can be supported by small equity participation, allowing appropriate minority protection rights in shareholder meetings for investors. Finally, especially in the case of foreign private equity investors, a common “gross tax” on financing can be included in the documentation.

Interest in the growth sector in Germany is growing and will continue to grow. Private equity investors are increasingly investing in the growth sector in part because of high competition for mature companies and attractive business models. Convertible instruments are a good vehicle for investing in this area which is characterized by a higher risk of reducing structural exposure.

Foot on the door
Throughout 2021, we expect private equity investors to use the convertible loan situation as an additional option to enter attractive target company doors even if the current situation / valuation does not (yet) allow direct equity investment.

From a corporate perspective, we feel this arrangement could also be a good option for avoiding debt financing by banks at an early stage, which usually provides for a stricter regime in terms of agreements.

Dr. Nikolaus von Jacobs is a partner and Matthias Weingut is a partner focused on private equity as well as mergers and acquisitions at law firm McDermott Will & Emery in Munich.

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