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3 weeks ago | 
today.westlaw.com | Tristan Veyet |Thomas Seythal |Ludwig Burger
(Reuters) -German agricultural supplies trader BayWa said on Friday its restructuring plan was confirmed by a Munich court, after it was approved by investors and creditors. The restructuring plan is to be implemented as soon as the confirmation...
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1 month ago | 
marketscreener.com | Jesús Aguado |Tristan Veyet
By Jesús Aguado and Tristan Veyet MADRID/VIENNA (Reuters) -Austria's Erste Group Bank acquired a 49% stake in Santander's Polish unit for around 6.8 billion euros ($7.7 billion), Santander and Erste said on Monday, driving shares in Santander Bank Polska down around 5% in Warsaw. Santander and Erste also reached a deal for Erste to acquire 50% of the Spanish lender's Polish asset management business for 200 million euros, they said.
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2 months ago | 
zawya.com | Tristan Veyet |Isabel Demetz
OMV expects the merger of petrochemical firms Borealis and Borouge agreed with ADNOC to boost its results already in the first quarter, the Austrian oil and gas group said on Tuesday. After nearly two years of negotiations, Abu Dhabi National Oil Company and OMV last month agreed to merge their polyolefin businesses to create a chemicals powerhouse, Borouge Group International, with a $60 billion enterprise value.
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Mar 3, 2025 | 
today.westlaw.com | Abinaya Vijayaraghavan |Jan Harvey |Sherry Jacob-Phillips |Tristan Veyet
(Reuters) -Abu Dhabi National Oil Company and Austria's OMV will merge their polyolefin businesses to create a chemicals powerhouse with a $60 billion enterprise value, as the Gulf state oil company advances an aggressive growth strategy.
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Feb 4, 2025 | 
gurutrade.com | Tristan Veyet |Isabel Demetz |Vijay Kishore
Feb 4 (Reuters) - OMV faces impacts from U.S. tariffs in certain areas, though its exposure in North America is relatively low, CFO Reinhard Florey said on Tuesday, in a call following the Austrian oil and gas firm's results.
"However, this exposure includes activities that are in the USA itself and...this means that tariffs go nowhere there because they operate directly in the domestic market," he added.
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Jan 17, 2025 | 
today.westlaw.com | Kirsten Donovan |Ludwig Burger |Tristan Veyet |Christoph Steitz
FRANKFURT (Reuters) -Lufthansa finalised its acquisition of a 41% stake in Italian state-owned airline ITA after European antitrust remedies were put in place, it said on Friday, in a deal designed to boost the carrier's presence in the lucrative...
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Dec 11, 2024 | 
gurutrade.com | Tristan Veyet |Matthias Williams
Dec 11 (Reuters) - German carmaker Mercedes-Benz will reshuffle its management board with four new members, the firm said on Wednesday, with changes due to take effect in 2025.
Sabine Kohleisen, Renata Jungo Bruengger, responsible for Integrity, Governance and Sustainability, and Hubertus Troska, board member for Greater China, are to leave the board as their contracts expire, the company added.
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Dec 4, 2024 | 
sg.finance.yahoo.com | Tristan Veyet
By Tristan Veyet(Reuters) -German agricultural group BayWa said on Wednesday it plans to cut around 1,300 full-time positions out of almost 8,000 by the end of 2027, as part of the group's restructuring. Around 40% of the cuts will take place in the central administrative units, it added. Furthermore, the company said it will close 26 out of 400 locations by the end of 2027. The trader of farming supplies and produce has been grappling with rising borrowing costs.
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Nov 20, 2024 | 
reuters.com | Tristan Veyet |Isabel Demetz
Nov 20 (Reuters) - Swiss testing and inspection company SGS (SGSN.S), opens new tab is likely to benefit from Donald Trump's re-election as companies nearshoring should drive up demand for testing services in the U.S., its CEO said on Wednesday. "We want to increase our presence in North America, which benefits from nearshoring," CEO Géraldine Picaud said in a press call in connection to SGS's capital markets event. "To me, it is a market that is in need for ...
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Oct 25, 2024 | 
marketscreener.com | Isabel Demetz |Tristan Veyet
(Reuters) -German meal-kit company HelloFresh raised the lower end of its guidance on adjusted core profit but cut its full-year revenue-growth outlook, as it expects bigger returns due to more focused marketing, despite a weaker fourth quarter. It expects revenue growth on a constant-currency basis between 1% and 1.7%, down from a previous range of 2% to 8%.
