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Exclusive: Shell, Cosan JV Raizen taps into a bank for mega-IPO in Brazil – source | Instant News


SAO PAULO (Reuters) – Brazilian energy company Raizen, a joint venture between Cosan SA and Royal Dutch Shell PLC, has selected four investment banks to manage its initial public offering, expected to be one of the largest this year, raising up to 13 billion. reais ($ 2.25 billion), four people with knowledge of the matter said Monday.

Raizen has selected Banco BTG Pactual SA, Bank of America, Citi and Credit Suisse AG to be the lead banks in the transaction, and is expected to add more syndicates this week, sources added, requesting anonymity to reveal private talks.

Raizen, Citi and Credit Suisse declined to comment on the matter. BTG and BofA did not immediately respond to requests for comment from Reuters.

Raizen, the world’s largest sugar maker, also controls a large fuel distribution network and is Brazil’s fourth largest company by revenue, behind state-controlled oil producer Petroleo Brasileiro SA, known as Petrobras, iron ore miner Vale SA, and packer. JBS SA meat.

Raizen is expected to be listed on Brazil’s B3 stock exchange, said one of the sources, and aims to complete the transaction in June or July.

Cosan, an energy group, disclosed earlier this month that its joint venture with Shell was being put up for listing before the flotation plans of two other companies it controls to raise capital and financial growth.

The joint venture recently acquired Biosev SA, another sugar and ethanol company, from Louis Dreyfus in a cash and stock deal.

As part of the deal, Biosev shareholders will receive 3.5% of Raizen preferred stock, plus 1.49% redeemable share.

One source said Raizen may be worth up to 100 billion reais ($ 17.3 billion).

Raizen is one of the competitors of the Petrobras refinery for sale. They made a bid for the REPAR refinery, in the southern state of Parana, but the process was canceled and Petrobras was expected to relaunch it.

Reporting by Tatiana Bautzer and Carolina Mandl, in Sao Paulo; Edited by Marguerita Choy

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Exclusive: Shell, Cosan JV Raizen taps into a bank for mega-IPO in Brazil – source | Instant News


SAO PAULO (Reuters) – Brazilian energy company Raizen, a joint venture between Cosan SA and Royal Dutch Shell PLC, has selected four investment banks to manage its initial public offering, expected to be one of the largest this year, raising up to 13 billion. reais ($ 2.25 billion), four people with knowledge of the matter said Monday.

Raizen has selected Banco BTG Pactual SA, Bank of America, Citi and Credit Suisse AG to be the lead banks in the transaction, and is expected to add more syndicates this week, sources added, requesting anonymity to reveal private talks.

Raizen, Citi and Credit Suisse declined to comment on the matter. BTG and BofA did not immediately respond to requests for comment from Reuters.

Raizen, the world’s largest sugar maker, also controls a large fuel distribution network and is Brazil’s fourth largest company by revenue, behind state-controlled oil producer Petroleo Brasileiro SA, known as Petrobras, iron ore miner Vale SA, and packer. JBS SA meat.

Raizen is expected to be listed on Brazil’s B3 stock exchange, said one of the sources, and aims to complete the transaction in June or July.

Cosan, an energy group, disclosed earlier this month that its joint venture with Shell was being put up for listing before the flotation plans of two other companies it controls to raise capital and financial growth.

The joint venture recently acquired Biosev SA, another sugar and ethanol company, from Louis Dreyfus in a cash and stock deal.

As part of the deal, Biosev shareholders will receive 3.5% of Raizen preferred stock, plus 1.49% redeemable share.

One source said Raizen may be worth up to 100 billion reais ($ 17.3 billion).

Raizen is one of the competitors of the Petrobras refinery for sale. They made a bid for the REPAR refinery, in the southern state of Parana, but the process was canceled and Petrobras was expected to relaunch it.

Reporting by Tatiana Bautzer and Carolina Mandl, in Sao Paulo; Edited by Marguerita Choy

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Afterpay Australia explores global records as first-half sales double | Instant News


(Reuters) – Afterpay is exploring additional overseas listings amid growing US investor interest, Australia’s buy-now-pay-later said on Thursday after reporting first-half sales more than doubled.

Fintech Australia and its global competitors such as Klarna, Affirm and Sweden’s Zip Co have seen explosive growth since the pandemic locked in large parts of the world and made more people turn to online shopping.

Afterpay shares have gained more than 1,500% since March, establishing itself as the 12th most valuable company in Australia.

Afterpay also said it raised A $ 1.25 billion ($ 995 million) in convertible banknotes in a complex deal to buy Matrix Partners stock from its US business – which accounts for 43% of its sales. The United States is also a key growth market for the industry where it struggles with fast-growing Klarna.

Klarna, who is reported to be tapping into more private funding, posted his full-year results on Thursday evening.

Afterpay’s legal losses more than doubled to A $ 79.2 million as the strong growth of its UK business pushed the unit’s valuation higher and increased the value of put options held by other companies. Zip also posted a much bigger half-year loss after buying New York counterpart Quadpay.

While Afterpay’s gross transaction loss fell to 0.7% – indicating fewer customers skipping payments – margins also fell slightly to 2.2% from six months ago.

Transactions made through Afterpay totaled A $ 9.8 billion in the six months to December 31, double the A $ 4.8 billion processed last year, supported by strong holiday spending.

Active subscribers jumped 1.9 million to 13.1 million in the three months to December.

($ 1 = 1.2547 Australian dollars)

Reporting by Nikhil Kurian Nainan in Bengaluru; Edited by Forward Samuel

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Shares in Italian highway group ASTM surged in a bid to make the company private | Instant News


MILAN, Feb 22 (Reuters) – ASTM shares surged 27% on Monday, lifted by a buyout offer from a top Italian motorway group investor who wants to take the company private and revamp it.

Nuova Argo Finanziaria (NAF), which holds a 42% stake in ASTM, said at the weekend it would offer 25.60 euros per share in a new vehicle to buy minority investors at an outlay of up to 1.7 billion euros ($ 2 billion).

This represents a premium of 28.8% over ASTM’s official closing price on Friday.

The NAF said it plans to transform business, adding it will be easier to pursue reorganization of unlisted companies.

The Italian Gavio family are major investors in the NAF along with the infrastructure arm of French private equity firm Ardian.

Ardian agreed to invest in ASTM just days before a highway bridge operated by toll road company Atlantia collapsed in August 2018, killing 43 people.

In response to the tragedy, the Italian government has stepped up investment oversight by concessionaires, establishing a new body to monitor safety standards.

$ 1 = 0.8269 euros Report by Elisa Anzolin, written by Valentina Za; Edited by Kirsten Donovan

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Germany’s AUTO1 seeks to raise at least 1.5 billion euros in an IPO | Instant News


FILE PHOTOS: Flag with the Auto1.com logo photographed on company page in Zoerbig, Germany January 28, 2017. REUTERS / Fabrizio Bensch

(Reuters) – German used car trading platform AUTO1 on Monday set a range of between 32 and 38 euros per share for its initial public offering, implying that the flotation in Frankfurt will raise at least 1.5 billion euros ($ 1.83 billion).

AUTO1 said it would issue 31.25 million new shares, worth at least 1 billion euros, and invest 75% in its Autohero brand, which wants to expand into Europe’s leading fully digital car retailer.

Existing shareholders will sell another 15,625,000 shares, AUTO said in a statement.

The subscription period starts on Tuesday and runs until February 2, opening up this year’s IPO market in Germany. The first day of AUTO1 trading on the Frankfurt Stock Exchange is February 4th.

Reporting by Zuzanna Szymanska in Gdansk, Editing by Douglas Busvine and Edmund Blair

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