PATRIZIA To Buy Infrastructure Manager Whitehelm For Initial Purchase Price Of EUR 67 Mln
PATRIZIA AG, a partner for global real assets, Monday said it has entered into a share purchase agreement for the transformational acquisition of Whitehelm, an independently owned infrastructure manager.
The initial purchase price of 67 million euros will be paid in a combination of cash and PATRIZIA shares.
The total purchase price is based on an earn-out structure and can reach a low three-digit million euro amount if ambitious mid-term revenue growth targets are met. The earn-out will also be paid in a combination of cash and PATRIZIA shares.
Whitehelm shareholders have agreed to a lock-up period for the PATRIZIA consideration shares, fully aligned to the interests of PATRIZIA shareholders.
The company expects the deal to close in the first quarter of fiscal 2022, subject to regulatory approvals.
With the acquisition, PATRIZIA expects to further strengthen its position as a real asset investment manager and increase its Assets under Management or AUM to over 50 billion euros in line with its mid-term growth strategy.
The acquisition would triple PATRIZIA’s infrastructure AUM to about 5 billion euros. The company expects to grow the segment in the mid-term to 15 billion euros to 20 billion euros.
The company also said the acquisition strengthens its global footprint, in particular in APAC, and accelerates path to achieve net zero carbon emissions in respect of more than 70% of AUM by 2040.
Kevin McCarthy Ripped On Twitter After Bizarre 3-Word All-Caps Vaccine Rant
House Minority Leader Kevin McCarthy (R-Calif.) on Sunday tweeted an all-caps rant opposing vaccine mandates.
“NO VACCINE MANDATES,” his post simply read.
McCarthy’s message didn’t mention a specific vaccine. However, it comes as Republicans fight President Joe Biden’s push to require most Americans to get vaccinated against COVID-19.
The congressman was among the first people in the U.S. to receive a coronavirus vaccine. He tweeted about getting a “safe and effective” shot on Dec. 20, just nine days after the Food and Drug Administration issued an emergency use authorization for the Pfizer shot.
Vaccine mandates have been common throughout U.S. history.
As a military general, for example, George Washington ordered his troops to be inoculated against smallpox in 1777 via a precursor to vaccination called variolation. The U.S. military currently requires multiple vaccinations, depending on role and location.
Vaccination mandates at schools have existed in some form for more than 150 years.
McCarthy’s critics had no patience for his all-caps message:
All Active Asset Capital To Withdraw Possible Offer For Audioboom – Quick Facts
The Board of All Active Asset Capital Limited has decided to withdraw its possible offer for Audioboom Group plc. AAA said none of the benefits of the offer were mentioned by Audioboom in its announcement of 10 September. This raises concerns around key corporate governance matters at Audioboom, AAA said. AAA also noted that the Group reserves its right to bid for Audioboom again.
On 19 July 2021, AAA announced a possible offer for Audioboom. On 10 September 2021, AAA said it had received irrevocable undertakings and letters of intent from Audioboom shareholders holding 50.92% of its voting share capital.
Sensex falls over 190 points in early trade, Nifty slips below 17,350
HCL Tech was the top loser in the Sensex pack, shedding 1.39%.
Equity benchmark Sensex declined over 190 points in early trade on September 13, tracking losses in index heavyweights Reliance Industries, ICICI Bank and Infosys amid weak sentiment in Asian markets.
The 30-share Sensex was trading 193.16 points or 0.33% lower at 58,111.91. Similarly, Nifty fell 37.90 points or 0.22% to 17,331.35 in initial deals.
HCL Tech was the top loser in the Sensex pack, shedding 1.39%, followed by Reliance Industries, ICICI Bank, Infosys, Nestle India, Axis Bank, Titan and IndusInd Bank.
On the other hand, HDFC, Bharti Airtel, Maruti, ITC, Kotak Bank and Tata Steel were among the gainers.
In the previous session on September 9, the 30-share Sensex ended 54.81 points or 0.09% higher at 58,305.07 — its all-time closing high. The NSE Nifty rose 15.75 points or 0.09% to settle at 17,369.25.
Markets were closed on September 10 on account of Ganesh Chaturthi.
In Asia, bourses in Shanghai, Seoul and Hong Kong were trading on a negative note in mid-session deals. Tokyo also closed in the red.
Foreign institutional investors (FIIs) were net buyers in the capital market as they purchased shares worth ₹423.44 crore on September 9, as per provisional exchange data.
Meanwhile, international oil benchmark Brent crude rose 0.62% to $73.37 per barrel.
38561 New COVID Cases, 362 Deaths In US
With 38561 new cases of coronavirus infections reporting in the United States on Sunday, the national total has increased to 39,946,139, as per the latest data from Johns Hopkins University.
362 additional casualties took the national COVID death toll to 648,474.
As usual, Sunday’s lower metrics are attributed to reporting delays on holidays.
California reported the most number of cases – 10,551 – at the weekend while Texas – 150 – reported most COVID-related deaths.
California is the worst affected state in terms of both the COVID metrics, with 4,421,842 cases and a total of 66,497 people dying due to the disease there.
A total of 1,548,091 tests were conducted nationally, according to data compiled by New York Times.
The number of people hospitalized due to coronavirus infection in the country has risen to 102,734, marking 11 percent increase in a fortnight.
A total of 31,315,751 people have so far recovered from the disease in the country.
As per the latest data published by the Centers for Disease Control and Prevention, a total of 175,968,266 people in the United States, or 53 percent of the population, have been fully vaccinated against the coronavirus.
This includes 92.4 percent of people above 65.
A total of 206,908,710 people, or 62.3 percent of the population, have received at least one dose.
A total of 374,488,924 vaccine doses have been administered so far nationally.