Russia Fin Min Siluanov: Crimea faces a RUB55B budget deficit, will be covered with funds from Russian budget
Air Berlin Plc Postposes annual press conference as a result of discussions that may materially impact the company - press
- Reminder: earlier this month the Air Berlin CEO commented that the company had been continuing discussions with Air France under existing framework, could look into cooperation
Plug Power Inc Air Liquide discloses 9.4% stake - filing
- In connection with the Series C Preferred Stock investment, the Issuer and Axane, S.A. (Axane), a subsidiary of LAir Liquide S.A., entered into transactions related to their HyPulsion S.A.S. joint venture (Hypulsion). HyPulsion was formed by the Issuer and Axane to develop and market hydrogen fuel cell systems for the European material handling market. Axane purchased a 25% ownership interest in HyPulsion from the Issuer for a cash purchase price of $3.3 million (euro 2.5 Million). The Issuer now owns 20% and Axane owns 80% of HyPulsion. The Issuer has the right to purchase an additional 60% of HyPulsion from Axane at any time between January 4, 2018 and January 29, 2018 at a formula price. If the Issuer exercises its purchase right, Axane will have the right, at any time between February 1, 2018 and December 31, 2021, to require the Issuer to buy the remaining 20% interest at a formula price.
- On May 8, 2013, the Issuer and ALIAD entered into a Securities Purchase Agreement (the Purchase Agreement) pursuant to which the Issuer agreed to issue and sell to ALIAD 10,431 shares of the Issuers Series C Redeemable Convertible Preferred Stock, par value $0.01 per share (the Series C Preferred Stock), for an original issue price of $2,595,400 in cash.
- In connection with the Series C Preferred Stock investment, the Issuer and Axane, S.A. (Axane), a subsidiary of LAir Liquide S.A., entered into transactions related to their HyPulsion S.A.S. joint venture (Hypulsion). HyPulsion was formed by the Issuer and Axane to develop and market hydrogen fuel cell systems for the European material handling market. Axane purchased a 25% ownership interest in HyPulsion from the Issuer for a cash purchase price of $3.3 million (euro 2.5 Million). The Issuer now owns 20% and Axane owns 80% of HyPulsion. The Issuer has the right to purchase an additional 60% of HyPulsion from Axane at any time between January 4, 2018 and January 29, 2018 at a formula price. If the Issuer exercises its purchase right, Axane will have the right, at any time between February 1, 2018 and December 31, 2021, to require the Issuer to buy the remaining 20% interest at a formula price.
TreeHouse Foods Inc. Said to be considering a bid for Michael Foods valued at $2-2.5B- financial press
- Reminder: in mid February reports were that Tyson had made a bid for egg and dairy products producer Michael Foods
Goldman Sachs Capital Partners bought Michael Foods from private equity firm Thomas H. Lee Partners in 2010 for about $1.7B.
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(Reuters) - British private equity fund Apax Partners said on Wednesday it will create a $500 million mid-market fund to invest in Israeli companies in the technology, telecom, healthcare and consumer sectors.
The new fund will target 10 deals of $25 million to $100 million, Nico Hansen, a partner at Apax, told a private equity conference in London. The money for the fund will come from local investors, he said.
Hansen added that Apax's global fund would continue to target deals of over $200 million
First Solar Inc. Guides FY14 EPS $2.20-2.60 v $3.33e, Rev $3.7-4.0B v $3.8Be, production 1.9-2.0 GW (one year ago guided $2.50-4.00, R$3.5-4.0B, prod 1.8-2.2 GW) - analyst day slides
- Guides FY14 capex $300-350M, gross margin 16-18%, op cash flow $250-450M
- Guides FY15 EPS $4.50-6.00 v $3.95e, Rev $3.8-4.3B v $4.18Be, op cash flow $300-600M (one year ago guided $4.00-6.00, R$4.2-4.8B)
- Guides FY16 EPS $3.50-5.00, Rev $3.8-4.5B, op cash flow $800M-1.3B, gross margin 15-20%, op margin 8-12%
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Hamburg - Europe's largest industrial conglomerate Siemens plans to cut hierarchy levels as part of its reorganization. One of the two senior levels of management, sectors and divisions will fall away with great certainty. The reported manager magazine in its new issue (publication date:. 21:03), citing Siemens Supervisory circuits. A decision had not been taken.
Siemens CEO Joe Kaeser wants early May present a new strategy to stop with Siemens for the loss of market share and the earnings gap to big rivals such as General Electric and ABB will close at the latest. For months the directors to Kaeser working on a new structure for the Group. Meanwhile, distinguished according to manager magazin first cornerstone of the new structure. Discussed is a denomination of the value chain in six to seven areas, from power generation to sectors such as building, industrial automation and medical technology. Debated Siemens sources said also about zuzusammenfassen the development of software platforms across all business in a cross-section function.
This would suit Kaeser statements at the AGM in January: The CEO announced that Siemens will focus "in its structure" on its value chain of electrification on automation and across all lines increasingly important digitization. A Siemens spokesman declined to comment.
Kaeser will flatter hierarchies
With flatter hierarchies Kaeser wants to ensure that executives back stronger to take responsibility and get problems on major projects previously on the board. In the past seven years, Siemens had € 700 million special charges per year verhagelt the income on average. In the autumn was in the regional organization already has a hierarchy level, the regional cluster, has been removed.
From the organization that once Kaeser predecessor Peter Löscher has created, so that not too much is expected to remain. Currently, the widely ramified Group is divided into the four sectors of energy, industry, infrastructure & cities and medical technology as well as 16 below it moved divisions.
Cromme provided as Chairman of the Trustees of the Glyptothek
Reportedly from Siemens circles on, Kaeser is expected to announce the beginning of May, no extensive sales program. The highly profitable medical stay in the group, including the once acquired laboratory diagnostics. Only for smaller businesses such as microbiology a buyer being sought.
Meanwhile, Siemens is chief inspector Gerhard Cromme prior to the acquisition of a new, reputierlichen post: Cromme wants to be elected in June as Chairman of the Board of Trustees of the Munich Glyptothek, a collection of ancient sculptures of the Free State of Bavaria. Cromme there would Karl-Hermann Baumann (78) follow. Baumann, who was until 2005 Siemens supervisory board chairman, gives the Board of Trustees chaired off after 15 years
Errors & Misconduct from Soc. Gen.