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Brookfield has signed a share purchase agreement (SPA) with Impala and other shareholders to acquire a majority stake in French renewables company Neoen. The purchase will be made through the Brookfield Global Transition Fund II. Brookfield also signed a tender agreement with Bpifrance for an additional stake in Neoen. The acquisition is expected to accelerate Neoen's growth plans and solidify its position in the renewables industry. The deal is subject to regulatory approvals and is expected to close by Q4 2024. [Extracted from the article]

Hydrogen Utopia International (HUI) has withdrawn its proposed £500 million acquisition of Essential Energy Holding's entire issued share capital. The decision was mutually agreed upon by both parties due to commercial reasons. HUI had initially made the proposal in February 2024, but new financial information received in May 2024 could have affected Essential Energy's value. Essential Energy owns operational plants across Europe and has permits for a waste plastic-to-hydrogen facility, which would have been made available to HUI post-acquisition. HUI has also confirmed its acquisition of 49% of Ohrid Organics, a North Macedonian medical cannabis company. [Extracted from the article]

Vitol, an energy and commodities company, has completed the acquisition of a 35.019% stake in Italy's Saras from the Moratti family. The deal values Saras at €1.7 billion ($1.8bn) and Vitol now owns 45.48% of the company. Saras operates a large refinery in Sardinia and a power generation plant that supplies over 40% of the island's energy. Vitol plans to launch a mandatory tender offer for the remaining shares it does not currently hold and has made changes to the board of directors. [Extracted from the article]

National Grid has successfully completed a £6.8 billion rights issue, with a 91% take-up rate. The company received valid acceptances for 987.4 million new ordinary shares, priced at 645 pence each. The remaining 9% of shares were taken up by underwriters Barclays Bank and JP Morgan. This capital raise is part of National Grid's strategy to improve the UK's electricity network and support energy transition efforts, with a planned investment of £60 billion from 2024 to 2029. The company's advisers include Robey Warshaw, Linklaters, Barclays, and JP Morgan. [Extracted from the article]

Alstom, a French rolling stock manufacturer, has completed a share capital increase of €1 billion as part of its €2 billion deleveraging plan. The subscription period saw total demand at over €1.7 billion, with a subscription rate of around 173.4%. The increase was covered by investors such as CDPQ and Bpifrance, and ownership of Alstom's share capital now consists of public and employees (74.9%), CDPQ (17.5%), and Bpifrance (7.6%). The remaining increase was underwritten by a syndicate of banks. [Extracted from the article]

Infrastructure India (IIP), a London-listed fund, is planning to delist its ordinary shares from the Alternative Investment Market (AIM) as part of its wind-up process. The reasons for delisting include a stronger negotiating position, reduced legal and regulatory costs, and the need to maintain cash reserves. The fund must obtain 75% shareholder approval for the resolution to pass, and if approved, shares will cease trading on July 4th. IIP currently holds three assets and is in discussions with potential buyers for one of them. The fund's investments have decreased in value, and it has extended the maturity for its credit facilities. [Extracted from the article]

The London-listed GCP Asset Backed Income Fund (GABI) is considering proposals for the sale of its assets as part of its managed wind-down and plans to return £85 million to shareholders. GABI initiated a strategic review in December 2023 after merger discussions with GCP Infra were terminated. Although the fund received approaches from third parties to acquire its share capital, none of the proposals were satisfactory. However, certain proposals to acquire GABI's assets are still being considered. GABI has also received cash from the repayment of a mezzanine loan and is pursuing repayment for a conflicted loan. The fund intends to return £85 million to shareholders through a partial redemption of shares. GABI specializes in debt investments secured against UK-based physical assets and projects. [Extracted from the article]

Rail infrastructure manufacturer Alstom has launched a €1 billion share capital increase as part of its debt reduction strategy. The company will issue around 76.9 million new shares priced at €13 each, with the subscription period running from May 30 to June 20, 2024. This capital increase is the final step in Alstom's deleveraging plan, which includes divestments and the placement of hybrid bonds. CDPQ and Bpifrance Investissement have agreed to subscribe for their respective shares, and the remaining capital increase will be underwritten by a syndicate of banks. [Extracted from the article]

Sacyr, a global infrastructure company, has successfully completed a €222 million capital raise to support its concession growth. The company issued 66.7 million new ordinary shares at a price of €3.33 each. The funds raised will be used to finance Sacyr's concession projects, including infrastructure developments in Peru, the USA, and Italy. The increase in share capital will benefit shareholders and maintain a strong financial position for future project funding. Key stakeholders, including the chairman and significant shareholder Nortia Capital, have also increased their stakes in the company. The capital increase is subject to a 180-day lock-up period. [Extracted from the article]

Saudi Aramco has completed the acquisition of a 40% stake in Gas & Oil Pakistan (GO), marking its first downstream investment in the country. The deal was approved by the Competition Commission of Pakistan and allows Aramco to expand its presence in Pakistan's retail fuel market. This acquisition also provides Aramco with additional outlets for its refined products and Valvoline-branded lubricants. Aramco has been actively expanding its global retail operations, with recent acquisitions in Chile and a secondary public offering that could raise around $12 billion. [Extracted from the article]

Scotland-based vanadium flow battery manufacturer Invinity Energy Systems has raised £57.38 million ($72.95m) in funding to accelerate the deployment of its products on the UK grid. The UK Infrastructure Bank (UKIB) led the round with a commitment of £25 million, aiming to support Invinity's Scottish presence and contribute to the UK's net zero transition. Invinity's batteries have lower degradation levels and are well-suited for grid-scale applications. The company plans to compete with existing lithium-ion technology through its activities in London, San Francisco, Vancouver, Bathgate, Suzhou, and Melbourne. [Extracted from the article]

Abu Dhabi National Oil Company (ADNOC) has completed the placement of 880 million shares in ADNOC Drilling to institutional investors. This represents a 5.5% stake in ADNOC Drilling's share capital and was priced at AED 3.90 ($1.06) per share, equivalent to $935 million. ADNOC continues to hold a majority 78.5% shareholding in the company and has agreed to a restriction from selling further shares for 6 months. The offering was made to enhance liquidity and potentially allow ADNOC Drilling to be included in the MSCI Emerging Market Index. [Extracted from the article]

BlackRock's fourth renewable energy fund, the Global Renewable Power Fund IV (GRP IV), is planning a second close. The fund launched in June 2023 with a target of $5 billion and a hard cap of $7 billion. It has already held an interim close and received commitments from Rhondda Cynon Taf County Borough Council for $75 million. GRP IV has made two disclosed investments so far, including a $200 million commitment to German energy firm Enviria and a $500 million preferred equity investment into Canadian Solar subsidiary Recurrent Energy. BlackRock has declined to comment on fundraising. Additionally, the company has been named in a criminal complaint filed against the board of directors of TotalEnergies in France, accusing major shareholders, including BlackRock, of voting against shareholder resolutions aligned with the Paris Agreement. [Extracted from the article]

Funds managed by KKR and IQGeo have agreed to a cash acquisition of the telco's entire share capital, valued at £333 million ($417m). The offer price represents a 19% premium to the last closing share price. KKR plans to use the acquisition to accelerate IQGeo's transition to a recurring software-centric business model. The agreement has received support from 58.2% of IQGeo's shareholders, and IQGeo's board has unanimously advised shareholders to vote in favor of the agreement. [Extracted from the article]

Premier Energy has priced its initial public offering (IPO) in Bucharest at RON 19.5 per share, resulting in a market capitalization of RON 2.4 billion ($532.6m). The IPO consists of 25 million new shares, 6.25 million existing shares held by majority shareholder EMMA Capital, and 4.69 million over-allotment shares. The offering received strong demand from both retail and institutional investors in Romania and internationally. After the IPO, EMMA Capital will retain a 71.25% stake in the company. The proceeds from the IPO will be used to acquire renewable energy assets in Romania and Moldova and for asset development. Premier Energy is a major natural gas and electricity distributor and supplier in Romania and Moldova, serving approximately 2.4 million clients. [Extracted from the article]

A consortium led by Khazanah and the Employees Provident Fund (EPF) has made a conditional offer to acquire the remaining shares in Malaysia Airports Holdings Berhad (MAHB) at a price of RM11 ($2.34) per share. The consortium currently owns 41.1% of MAHB's shares and, if the transaction is successful, each consortium member will increase their shareholding. The takeover aims to support long-term growth in MAHB and includes plans for capital projects and infrastructure maintenance. The offer is subject to pre-conditions and the consortium owning a minimum of 90% of MAHB's shares. [Extracted from the article]

Italgas is in exclusive talks to acquire the entire share capital of 2i Rete Gas, Italy's second largest gas distribution operator. The acquisition will be financed through a bridge credit facility underwritten by JP Morgan, which may be refinanced through a combination of debt, equity, or equity-like instruments. 2i Rete Gas has a network spanning 18 regions and 72,000 km, serving approximately 4.9 million customers, with an EBITDA of €505.2 million and reserves of €731.6 million. The company is currently preparing for its listing on the Euronext Milan, and the purchase offer from Italgas will not interrupt these preparations. [Extracted from the article]

Orange Belgium's shareholders have approved a swap in which Nethys will exchange its stake in VOO Holding for newly issued shares in Orange Belgium. This will give Nethys an 11.08% stake in Orange Belgium. Last year, Orange Belgium acquired a majority stake in VOO, a Belgian cable company, and this swap is part of that deal. The shareholders also agreed to a partnership between Nethys and Atlas Services Belgium, which will give Nethys the ability to propose candidates for director positions within Orange Belgium and have veto rights over certain aspects of VOO's business. [Extracted from the article]

Funds managed by Morgan Stanley Infrastructure Partners (MSIP) have signed a binding agreement with Finhold to acquire a stake in Italian railway company Salcef. The acquisition values Salcef at around ¿1.62 billion ($1.73bn). The agreement involves demerging Finhold-held shares in Salcef into a new company and transferring 42% of Finhold's shareholding to funds led by MSIP. The transaction is expected to close by July 2024, subject to customary conditions and regulatory approval. The deal aims to expand Salcef's presence in the railway infrastructure and urban mobility sectors. [Extracted from the article]

CVC made its debut on the Amsterdam stock exchange with shares priced at €14 each, increasing the total offering size to €2 billion. Trading began with shares opening above the offer price at €17.34 per share, a nearly 24% rise. The offering was oversubscribed, leading to an increase in the number of shares sold. CVC expects to recoup gross proceeds of €250 million from selling its shares. The primary proceeds from the IPO will be used to scale future company funds, pursue acquisition opportunities, and fund part of the cash consideration for CVC's acquisition of Dutch infra investor DIF Capital Partners. [Extracted from the article]

Eni and Ithaca Energy have agreed to combine their UK upstream assets, excluding Eni's East Irish Sea assets and CCUS activities. The combination will be funded through the issuance of ordinary shares to Eni UK, representing 38.5% of Ithaca's enlarged share capital. The merger aims to replicate the success of Eni's previous upstream combinations and will create an enlarged combined group with 2024 production over 100,000 boepd. The deal will facilitate Eni's growth in the UKCS and improve Ithaca's credit pathways, potentially leading to shareholder dividends of $500 million per annum. [Extracted from the article]

FSD Africa Investments (FSDAi) and Allied Climate Partners (ACP) have signed a Memorandum of Understanding (MoU) to address the financing gap for climate infrastructure in Africa. The agreement aims to increase investment in early-stage project development companies that deploy climate-related infrastructure. The targeted sectors include clean energy, electric transportation, green industry, and water and waste management. The organizations hope to raise climate finance levels to meet Africa's Nationally Determined Contributions (NDCs) and increase private sector participation in climate-related investment. [Extracted from the article]

CVC Capital Partners, a private markets investor with €116 billion in assets under management, has set an indicative price range of €13 to €15 per share for its upcoming initial public offering (IPO) in Amsterdam. This could potentially raise up to €1.8 billion and imply a valuation of €13 billion to €15 billion. The IPO is expected to take place on April 26, with shares trading on the Euronext Amsterdam. The primary proceeds from the IPO will be used to scale future company funds, pursue acquisition opportunities, and fund part of the cash consideration for CVC's acquisition of Dutch infra investor DIF Capital Partners. [Extracted from the article]

DIF Capital Partners is currently in exclusive negotiations to acquire TDF Group's French fibre business, specifically TDF Fibre and Lumière Fibre. The transaction is subject to consultation with French employee representative bodies and other customary conditions, with a potential completion date by the end of 2024. TDF Fibre owns four operational fibre networks under 25-year concession agreements and also wholly owns the Yvelines Fibre network. Banque des Territoires acquired its position in TDF Group in 2022, and a consortium of Brookfield Infrastructure, Arcus, PSP Investments, and APG acquired TDF's French business in 2014. [Extracted from the article]

Pathfinder Minerals has made amendments to the non-binding heads of terms for its acquisition of Rome Resources, a mining company based in Canada. Rome Resources has agreements to acquire 41% of two properties in the Walikale District of the North Kivu Province in the Democratic Republic of Congo. The original agreement stated a consideration of £15.9 million for 3.2 billion new ordinary shares, but this has been decreased to £11.6 million for 2.4 billion new ordinary shares. The deal also includes a reverse takeover and a loan from Pathfinder to Rome Resources. The long-stop date for the agreement has been extended to 21 June 2024. [Extracted from the article]

Kimmeridge has decided to withdraw its proposal to acquire SilverBow, an oil and gas producer, for $2.1 billion. The lack of engagement from SilverBow since the proposal was made led Kimmeridge to realize that a transaction by the deadline was not feasible. Instead, Kimmeridge plans to address SilverBow's governance issues. Riposte Capital, a major shareholder of SilverBow, supported Kimmeridge's merger proposal, stating that it was a compelling offer. SilverBow has not yet commented on the matter. [Extracted from the article]

Sienna Bidco, a company managed by KKR funds, has announced plans to delist Smart Metering Systems (SMS) and re-register it as a private limited company. The acquisition of SMS was declared unconditional, with 62.78% of shareholders initially accepting the offer. Sienna has received acceptances from around 91.3% of SMS's issued share capital. Sienna will give a 20-business day notice period for the cancellation of admission to trading of SMS shares on the London Stock Exchange's junior market and will begin the re-registering process after delisting. Sienna intends to acquire any outstanding shares on a compulsory basis unless court orders say otherwise. The offer price represents 955 pence in cash per share, creating a total value of £1.4 billion ($1.76bn), funded through KKR's Global Infrastructure Investors IV fund. [Extracted from the article]

Gore Street Energy Storage Fund has expanded its portfolio in Ireland by investing in three projects developed by Low Carbon. This brings their total capacity in the country to 385MW, with 130MW already operational. The investments include acquiring the remaining 49% in the Porterstown project, with 30MW already operational and 60MW to be added in phase II. They also acquired the remaining 49% in the Kilmannock project, with 30MW under construction and 90MW to be added in phase II. Additionally, they obtained a 51% stake in the Mucklagh project, which is in the pre-construction phase. The total consideration for the operations was settled through the issuance of new shares and an undisclosed cash sum. Gore Street's portfolio now includes 28 projects across the UK, Ireland, Germany, and the US. The company's move was driven by the lucrative Irish market and its goal of diversifying its assets and increasing shareholder returns. [Extracted from the article]

Renewable developer Serena Energia, formerly known as Omega Energia, is planning a secondary share offering in Brazil. The company intends to sell over 86 million common shares, representing 13.83% of its total share capital, held by Poraquê Fundo de Investimento Em Participações Multiestratégia. The shares will be marketed to institutional investors in Brazil and the US, with a potential to raise up to R$800.4 million ($159m). Investment firm Tarpon has already expressed interest in acquiring shares worth R$65 million. Serena Energia operates over 2,400MW of renewable capacity in Brazil and has recently expanded into the US renewables market with a 265MW wind farm in Texas. [Extracted from the article]

Private equity firm KKR has provided an update on its £1.4 billion acquisition of Smart Metering Systems (SMS), stating that only 30.36% of the target's shareholders have accepted the offer as of March 15th. Primestone Capital and SMS founders Steve Timoney and Alan Foy, who collectively control 17.8% of SMS's share capital, have announced their intention to accept the offer despite being "disappointed with the offer price." KKR lowered the acceptance level for the deal to become effective to 50% plus 1 share in February. The acquisition is being made through bidding company Sienna Bidco on behalf of KKR's fourth infrastructure fund. [Extracted from the article]

HIG Capital has sold its German portfolio company, ICG Group, to SPIE Group, a move that strengthens SPIE's position in fibre networks. The financial details of the deal were not disclosed, but SPIE said the transaction had a multiple of 9.1x EBITA 2023 and 7.5x EBITA 2024E. ICG Group generated revenue of €230 million ($251.5m) in 2023. SPIE will acquire 92% of ICG's share capital, with the remaining 8% retained by the current management team. The sale is subject to clearance from antitrust authorities. [Extracted from the article]

Abu Dhabi National Oil Company (ADNOC) has successfully acquired a 24.9% stake in OMV, an energy and chemicals group based in Vienna, Austria. This acquisition follows ADNOC's purchase of a similar stake in Austrian chemicals company Borealis in November 2022. ADNOC plans to increase its shareholdings in Borealis and UAE petrochemicals company Borouge, further expanding its presence in the chemicals sector. Negotiations are also underway to merge Borouge and Borealis. ADNOC will appoint two representatives to the OMV supervisory board. [Extracted from the article]

Freya Investissement, co-owned by the Iliad Group and NJJ Holding, has agreed to acquire a 19.8% stake in Tele2 for SEK 13 billion ($1.26bn). This acquisition will make Freya the reference shareholder in the Swedish and Baltics telecoms operator. The transaction will be split into three tranches, with the first tranche already completed. Funding for the acquisition will come from Iliad Holding, NJJ Holding, and Freya. The acquisition has been approved by the boards of Iliad Group, Freya, and Kinnevik, and is subject to approval from relevant authorities. [Extracted from the article]

Amaroq Minerals, an independent mining company in southern Greenland, has successfully completed a funding round, raising £44 million ($55.6 million). The funding round involved the issuance of 62.7 million new common shares, which will represent 19% of Amaroq's increased share capital. The shares were priced at 74 pence per share, offered to new and existing shareholders in the UK, Iceland, and Canada. The company exceeded its initial target of £30 million and plans to use the additional funding to develop its Vagar and Nanoq licenses and invest in its Gardaq joint venture. Amaroq Minerals specializes in gold mining and energy transition mineral assets. Landsbankinn acted as the underwriter for the fundraising, up to £10 million. [Extracted from the article]

Infrastructure India (IIP) has terminated the proposed sale of its majority stake in Distribution Logistics Infrastructure (DLI) to Pristine Malwa Logistics Park. The two parties were unable to reach satisfactory agreements on the share purchase and shareholders' agreement, which IIP believed undervalued DLI. DLI has faced financial difficulties under IIP, with the company struggling to meet creditor payments. DLI is a supply chain transportation and container infrastructure company based in India, while Pristine Malwa is a subsidiary of Pristine Logistics and Infraprojects, a logistics provider in India and Nepal. [Extracted from the article]

Grupo Aeromexico has filed a document related to its pending listing of American depositary shares (ADS) on the New York Stock Exchange. The group plans to raise up to $300 million and is seeking a return to the equity markets after exiting bankruptcy proceedings two years ago. Aeromexico has also applied for a listing of its shares on the Mexican Stock Exchange. The airline has retained several lead underwriters for the planned initial public offering, including Barclays, Morgan Stanley, JP Morgan, Evercore ISI, and Apollo Global Securities. [Extracted from the article]

Air Baltic, a Latvian carrier, has announced plans to simplify its share structure in preparation for an initial public offering (IPO). The consolidation of four existing share classes into one is a common practice to make the share structure more transparent and attractive to investors. This move will also improve the airline's capital structure and help offset accumulated losses. The IPO aims to increase the company's capital and attract new investors, including private retail investors. [Extracted from the article]

AviAlliance has acquired an additional 10% stake in Athens International Airport (AIA), bringing its total ownership to just over 50%. The purchase price for the stake was €293 million ($315.65m). The Hellenic Republic Asset Development Fund (HRADF) conducted a listing of its 30% stake in AIA, with AviAlliance and the Copelouzos family being offered cornerstone investments. The listing is the largest on the Athens stock exchange in 15 years, and AIA's strong financial performance and leading position in the market were cited as reasons for AviAlliance's increased stake. [Extracted from the article]

The Competition Commission of India (CCI) has approved the acquisition of Interise Investment Managers, the manager of IndInfravit, by existing shareholders. IndInfravit is an investment company that focuses on road infrastructure in India, currently operating and maintaining 17 road assets across 8 Indian states. The acquisition will be undertaken by CPPIB India Private Holdings, Allianz Infrastructure Luxembourg II, and the investment entity of the Ontario Municipal Employees Retirement System (OMERS). The CCI has stated that the proposed combination does not raise competition concerns. The shareholders have also purchased shares previously held by L&T Infrastructure Development projects and other sellers. CPPIB, Allianz, and OMERS have been long-term backers of IndInfravit. In 2023, the fund acquired 4 road assets from Brookfield for $1 billion, and in 2022, the CCI approved the takeover of 5 assets, with the transaction for Gorakhpur Infrastructure Company still pending regulatory approval. [Extracted from the article]

Athens International Airport (AIA) has priced its initial public offering (IPO) at €8.20 per share, implying a market capitalization of €2.46 billion ($2.66 billion). The IPO includes a combined offering of 90 million ordinary shares, with 84% allocated to eligible international institutional investors outside of Greece and 12% allocated to retail and institutional investors in Greece. The oversubscription level for the offerings was around 12x. The settlement is expected to take place on February 6, 2024, with trading on ATHEX beginning on February 7, 2024. [Extracted from the article]

Orion has agreed to sell a significant portion of its shares in Capstone Copper to a syndicate of underwriters for C$374.97 million. The offering values each share at C$6.3 and includes an option to buy additional shares, potentially bringing the total proceeds to C$431.2 million. The sale will not affect the shares owned by Hadrian Capital. The proceeds from the sale will be used to develop two of Capstone's projects in Chile. The transaction is expected to close on February 8, 2024, pending regulatory approvals. [Extracted from the article]

Telefónica Local Services, a subsidiary of Telefónica, has increased its ownership of Telefónica Deutschland to 93.1% from 71.81%. The company funded the increased stake with €1.48 billion in cash. In November 2023, Telefónica made a public acquisition offer for the remaining 28.19% of Telefónica Deutschland, and during the acceptance period, it was able to acquire 13.43% of the share capital and voting rights. The offer has been accepted by Telefónica Deutschland's shareholders and does not require further regulatory approvals. The settlement and payment of the deal are expected to take place on January 26, 2024. [Extracted from the article]

Athens International Airport (AIA) plans to list on the Athens stock exchange, making it the largest Greek initial public offering (IPO) in over 15 years. The offering will involve the sale of a 30% stake held by the Hellenic Republic Asset Development Fund (HRADF) to retail and institutional investors. The sale was delayed in 2020 due to the Covid-19 pandemic. The proposed listing is expected to take place in February 2024, subject to regulatory approvals and market conditions. [Extracted from the article]

Ferrovial, a Spanish company, plans to refinance its joint venture with Macquarie, the AGS airports (Aberdeen, Glasgow, and Southampton), through an injection of equity. The agreement states that Ferrovial will commit up to £15 million ($19m) in equity, with a 50:50 split of share capital and debt, assuming certain liquidity conditions are met by the loan's maturity date in 2024. AGS airports currently have a debt of £757 million ($963.14m) that is set to return in June. There were reports in December that Ferrovial was considering selling its 50% stake in AGS. The AGS airports serve a population of 6.6 million people within a 60-minute radius. [Extracted from the article]

Stonepeak, a New York-based infrastructure investor, will invest £450 million ($572.9m) into UK roadside assistance provider AA. This investment, agreed with AA's majority shareholders TowersBrook Capital Partners and Warburg Pincus, will be done through a combination of common and preferred equity. The additional capital will allow AA to strengthen its balance sheet and support investment in further growth and innovation. Warburg Pincus and TowerBrook will remain AA's majority shareholders, while Stonepeak will become the third largest shareholder with a 15% stake. The transaction is expected to close in the first half of 2024, subject to regulatory approvals. [Extracted from the article]

The renewal included $130mn from White Mountains, considerably less than the $205mn Ark's parent kicked in for 2023. [ABSTRACT FROM AUTHOR]

Iliad Group has proposed a merger with Vodafone Italia, which would create a new entity called NewCo. This merger would bring together five mobile operators and over ten fixed broadband providers. Vodafone Italia has been valued at €10.45 billion, while Iliad Group has been valued at €4.45 billion. Under the terms of the proposal, Vodafone Italia would receive €8.5 billion in cash and a shareholder loan, as well as 50% of NewCo's share capital. Iliad Group would receive the remaining 50% of NewCo's share capital, along with a €500 million cash payment and a €2 billion shareholder loan. The financing for the merger will be provided by an unnamed consortium of international banks. It is estimated that NewCo would generate €5.8 billion in revenue for FY24 and achieve an EBITDAaL value of approximately €1.6 billion. [Extracted from the article]

Shanta Gold, an east Africa-focused gold mining company, has agreed to be acquired by Saturn Resources, a subsidiary of ETC Holdings. The acquisition will be a cash deal, with Shanta's shareholders receiving 13.5 pence per share, totaling £141.95 million ($180.2m). In addition, shareholders will receive an interim dividend of 0.15 pence per share. The acquisition will allow Shanta to continue operating its gold mines in Tanzania and its gold project in West Kenya. The deal is expected to be completed in the first half of 2024, pending regulatory approvals. [Extracted from the article]

Capital A has been granted an extension until July 31, 2024, to submit the draft circular for its proposed sale and merger of its aviation business with Air Asia X. The deal, worth MYR6.8 billion ($1.44 billion), aims to consolidate both long- and short-haul airlines under the Air Asia brand. Capital A needs to raise funds for business expansion but is facing challenges due to its financial distress. If the deal goes ahead, Air Asia X would be delisted, and a new listed entity called Air Asia Group would be created. The divestment of Air Asia Aviation Group (AAAGL) will be fulfilled through the issuance of new Air Asia Group shares to Capital A. The AAAGL carriers have reported higher net losses despite increased revenues, and the group has significant lease liabilities. Air Asia is working on reactivating its aircraft fleet. [Extracted from the article]

Grupo Aeromexico, a Mexican carrier, is planning to return to equity markets by publicly listing American depositary shares (ADS) on the New York Stock Exchange. The company aims to raise up to $300 million through this initial public offering. Aeromexico had previously delisted from the Mexican Stock Exchange in 2022 but intends to go public again on both the New York Stock Exchange and the BMV. The company has enlisted Barclays, Morgan Stanley, JP Morgan, Evercore ISI, and Apollo Global Securities as lead underwriters for the IPO. Aeromexico's restructuring process in 2020 resulted in investment firm Apollo Global Securities and Delta Air Lines becoming its largest shareholders. The company experienced significant financial improvements in 2023, with record revenue and EBITDAR, as well as a reduced debt ratio. [Extracted from the article]