Apollo Readies €750 Million Loan for Neinor's Aedas Bid
Apollo Global Management Inc. is poised to provide the bulk of the financing for a potential deal in Spain that could create the nation's biggest developer.
The New York-based private capital giant is working on providing about €750 million ($870 million) in a loan for Neinor Homes SA's bid to acquire rival Aedas Homes SA, according to people familiar with the matter.
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Associated Press
36 minutes ago
- Associated Press
Sweden and the Netherlands say before NATO summit they will spend 5% of GDP on defense
BRUSSELS (AP) — Less than two weeks before a NATO summit, Sweden and the Netherlands said Friday that they intend to increase defense spending to 5% of their gross domestic product, in line with U.S. President Donald Trump's demands. Trump and his NATO counterparts meet for a summit in the Netherlands on June 24-25, where they're due to agree a new defense spending target. He insists that Europe must look after its own security, while Washington focuses on China and its own borders. Swedish Prime Minister Ulf Kristersson said that 'Sweden will reach a new NATO spending target to 5% of GDP, where at least 3.5% of GDP will be allocated towards core defense requirements to fulfill NATO's new capability targets.' 'We are in a specific geographical situation where we need to meet the future threats from Russia,' Kristersson told reporters in Stockholm, standing alongside NATO Secretary-General Mark Rutte. After Russia launched its full-scale invasion of Ukraine on Feb. 24, 2022, NATO's 32 allies agreed to spend at least 2% of GDP on their military budgets. But NATO's new plans for defending Europe and North America against a Russian attack require investment of at least 3%. The aim now is to raise the bar to 3.5% for core defense spending on tanks, warplanes, air defense, missiles and hiring extra troops. A further 1.5% would be spent on things like roads, bridges, ports and airfields so armies can deploy more quickly, as well as preparing societies for possible attack. According to the most recent NATO figures, Sweden was estimated to have spent 2.25% of its GDP on defense last year. The Netherlands spent 2.06%, among 22 of the 32 allies who reached NATO's old benchmark. The Dutch caretaker government announced on Friday that it would increase spending on defense to 3.5% of GDP in an effort to meet the 5% goal. It's not clear where the approximately 18 billion euros ($20 billion) will come from. Dutch Defense Minister Ruben Brekelmans called the decision 'historic' and told reporters after a Cabinet meeting that he hoped other NATO countries would also increase their spending. 'My expectation is that this will happen,' he said. Poland and the Baltic countries — Estonia, Latvia and Lithuania — have already publicly committed to 5%, and Rutte said last week that most allies were ready to endorse the goal. A big question still to be answered is what time frame countries will get to reach the new spending goals. A target date of 2032 was initially floated, but Rutte has said that Russia could be ready to launch an attack on NATO territory by 2030. The United States insists that a near-term deadline must be set. But Italian Foreign Minister Antonio Tajani said on Thursday that his country would get to 5%,. but would require a decade to do so. ___ Molly Quell reported from The Hague, Netherlands.
Bloomberg
an hour ago
- Bloomberg
Starmer Says No Obstacles Left in Finalizing US-UK Trade Deal
UK Prime Minister Keir Starmer said there were no 'hiccups or obstacles' remaining in the way of finalizing a trade deal with the US and indicated that an agreement would likely come soon. 'I'm hoping that we will complete it pretty soon,' Starmer said in an interview with Bloomberg News on Friday, referring to the deal. 'There's nothing unexpected in the implementation, and so we haven't got any hiccups or obstacles.'
Forbes
an hour ago
- Forbes
FC Barcelona Pays New Signing's Release Clause
FC Barcelona paid top transfer target Joan Garcia's release clause on Friday afternoon in Spain according to SPORT, which cited anonymous sources. The newspaper reported that 'the soap opera is over' in relation to 2024/2025 breakout star Garcia's capture, with the goakkeeper already a new FC Barcelona player save for the signing of official contracts which is are expected to be penned next week. Garcia's $28.8 million (€25 million) release clause was reportedly paid by the player's legal representatives by La Liga on Friday, meaning that its youth team product has officially disassociated himself from Barca's crosstown rivals Espanyol. Once Garcia has returned from holiday, he will head to the Joan Gamper CT to sign his new contract and commit his immediate future with the Blaugrana until June 30, 2031. Simultaneously, Espanyol will deposit the money to La Liga's offices so that it can be added to the Pericos' accounts. Despite the sensitive nature of the transfer which sees Garcia leave Espanyol and join its bitter rival, the operation has thankfully, for all concerned, not become a summer long saga as we often seen with these types of deals. The 24-year-old effecitvely agreed to switch allegiances before he went on holiday, but made sure that the deal could be done before June 30. This will help Espanyol from an economic perspective, as the near $30 million sum can be added to its accounts before the end of the European soccer financial year on June 30 and also help it stay within side the 1:1 rule limit and make new signings this summer. Garcia could have gone for more money had he been called up to Luis de la Fuente's latest squad which beat France in the semifinals but lost to the Nations League final on penalties to Cristiano Ronaldo's Portugal. Expected to become Barca's number one shotstopper, however, he is certain to become a part of La Roja's furniture alongside new club teammates such as Lamine Yamal, Pedri and Pau Cubarsi With Garcia's transfer now pretty much confirmed, Marc-Andre ter Stegen's exit out of FC Barcelona could now be accelerated. Previously feigning ignorance about a potential departure, the German could now be surplus to requirements with Garcia around.
