From Breakingviews - Stellantis SPAC deal has suitably decent airbags
, created by former EN+ Group boss Artem Volynets, at least came to market last year, after the recent SPAC boom had peaked. Rather than buy unprofitable tech startups, it wants to roll up metals for the energy transition, like nickel, which is expected to see a sevenfold increase inover 20 years. In a complex deal, halfway between an IPO and a SPAC takeover, it will buy the Serrote and Santa Rita mines in east Brazil for $1.1 billion.
The European carmaker’s $100 million investment gives it a stake in the business, and access to critical materials, all developed with green hydroelectric power. Investing alongside other established players like Glencore
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Glencore, automakers to back $1 bln nickel, copper SPAC deal in BrazilGlobal miner Glencore , Chrysler parent Stellantis and Volkswagen's battery unit PowerCo have agreed to back a $1 billion deal by blank-cheque fund ACG Acquisition Company to buy two mines in Brazil, ACG said on Monday.
Leer más »
Breakingviews - Berlusconi invented the entrepreneur as politicianFlamboyant tycoon-turned-Italian premier Silvio Berlusconi has bowed out, aged 86. The self-made billionaire pioneered the use of wealth and media to achieve political power. Though his Forza Italia party and business empire are already weakened and unlikely to regain much prominence after his death, his unorthodox political methods spawned imitators across the West.
Leer más »
Breakingviews - Glencore’s Teck coal approach sends two signalsAt first sight, the latest Teck Resources chess move by Glencore is slightly confusing. Back in April the $22 billion Canadian miner rejected the $68 billion Swiss commodity giant’s merger offer, which planned to split the resulting entity into a separately listed coal company and a standalone metals company. While that approach still stands, Glencore on Monday said it has now also submitted a cash offer to buy only Teck’s coal unit.
Leer más »
Breakingviews - Shipping tax could yield $100 bln climate windfallThe shipping industry emits 2.9% of the world's greenhouse gases. It has also largely escaped taxation because what happens on the high seas is not in the jurisdiction of any single government.
Leer más »
Breakingviews - China IPOs are uncoupling from Wall Street tooChina’s primary capital market has never been strongly connected to local economic performance thanks to Beijing’s micromanagement of initial public offerings. Increasingly it is detaching from Wall Street too. Despite a weak stock market and doubts about the vigour of China’s post-pandemic recovery, seeds-to-pesticides maker Syngenta is edging closer to a $9 billion debut, the mainland’s largest since Agricultural Bank of China’s in 2010. It’s a suboptimal time to list. Nonetheless, the Shanghai Stock Exchange will hold a hearing for the deal on Friday, per Refinitiv’s IFR. Syngenta is a pillar in Beijing’s strategy to shore up food security and will use the deal to pay down debt. It is also an example of how state-owned Chinese giants can acquire and successfully run overseas companies.
Leer más »
Glencore, automakers to back $1 bln nickel, copper SPAC deal in BrazilGlobal miner Glencore , Chrysler parent Stellantis and Volkswagen's battery unit PowerCo have agreed to back a $1 billion deal by blank-cheque fund ACG Acquisition Company to buy two mines in Brazil, ACG said on Monday.
Leer más »