Avadel: Q4 Earnings Snapshot
DUBLIN — DUBLIN — Avadel Pharmaceuticals PLC (AVDL) on Monday reported a loss of $5 million in its fourth quarter.
On a per-share basis, the Dublin-based company said it had a loss of 5 cents.
The results met Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was also for a loss of 5 cents per share.
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30 minutes ago
- Yahoo
BCI Invests in KKR Tower Platform Pinnacle Towers
SINGAPORE & VICTORIA, Canada, June 09, 2025--(BUSINESS WIRE)--KKR, a leading global investment firm, British Columbia Investment Management Corporation ("BCI"), and Pinnacle Towers, an Asia-based digital infrastructure platform with a focus on the Philippines, today announced the signing of definitive agreements under which BCI will acquire a minority stake in Pinnacle Towers from KKR, which will remain the majority shareholder. Pinnacle Towers was established in 2020 to serve the rapidly increasing demand for connectivity and quality telecommunications infrastructure in the Philippines. Led by a highly experienced management team, the platform specializes in executing on Build-to-Suit ("BTS") telecommunications tower projects, optimizing the use and management of Sale-and-Leaseback ("SLB") assets with leading mobile network operators, and providing ancillary management services to industry players. In the span of five years, Pinnacle Towers has scaled to become the largest independent tower company in the Philippines with around 7,000 towers.1 Lincoln Webb, Executive Vice President & Global Head, Infrastructure & Renewable Resources, BCI, said, "We are excited to work closely with KKR and Pinnacle's management team to support the growth of the business. The Philippines represents a compelling market for long-term capital, especially in essential digital infrastructure services. This investment aligns with our emerging markets strategy of backing high-quality infrastructure assets alongside strong institutional partners. We look forward to supporting Pinnacle Towers as it continues to enhance digital connectivity and drive meaningful impact across the Philippines." Projesh Banerjea, Managing Director, Infrastructure, KKR, said, "We are very proud of the success that we have achieved with Pinnacle Towers to serve the Philippines' connectivity needs. Since our initial investment, we have collaborated closely with Pinnacle Towers' outstanding management team to deepen the platform's capabilities and scale its presence organically and through bolt-on acquisitions. We are delighted to welcome BCI, who share our long-term vision and commitment to developing critical digital infrastructure, as strategic partners and look forward to building on Pinnacle Towers' strong growth momentum." Patrick Tangney, Chairman and CEO of Pinnacle Towers, said, "Over the last five years, with the support of KKR, Pinnacle Towers has grown to become the leading independent tower company in the Philippines. BCI's investment marks an important milestone in our journey and is a strong endorsement of our mission. With BCI and KKR as strategic partners, we are well-positioned to continue driving greater digital connectivity in the Philippines and across the region." BCI Infrastructure & Renewable Resources has a global portfolio with nine active investments in the Asia-Pacific region, including Rakuten Mobile (a leading communications tower company in Japan), Altius (a leading communications tower company in India), and Cube Highways (the largest toll road operator in India). The program continues to expand its presence in the region with the addition of this minority stake acquisition in Pinnacle Towers. KKR made its investment in Pinnacle Towers from its Asia Infrastructure Funds I and II. KKR first established its global infrastructure team and strategy in 2008 and has since been one of the most active infrastructure investors around the world. KKR's Asia Pacific infrastructure platform was established in 2019 and has since organically grown to approximately US$13 billion in assets under management. The transaction is expected to be completed by Q3 2025, subject to customary regulatory approvals. About BCI British Columbia Investment Management Corporation (BCI) is amongst the largest institutional investors in Canada, with C$250.4 billion in gross assets under management as of March 31, 2024. Based in Victoria, British Columbia, with offices in Vancouver, New York, and London, U.K., BCI manages a portfolio of diversified public and private market investments on behalf of its British Columbia pension fund and institutional clients. Learn more at About KKR KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR's insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR's investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR's website at For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group's website at About Pinnacle Towers Pinnacle invests in, builds and operates telecommunications infrastructure with a focus on towers and related assets. Pinnacle is an Asia-focused digital infrastructure platform with a strong focus on the rapidly growing Philippines market. Frontier's leadership team includes founders of a number of highly successful tower companies and former C-level executives from some of the world's leading wireless operators. KKR first invested in Pinnacle Towers in 2020. _____________________ 1 Including sites contracted to build or acquire View source version on Contacts Media Contacts For BCIOlga Petrycki+1 778 410 7310media@ For KKR Asia PacificWei Jun Ong+65 6922 For Pinnacle TowersHendrik-Jan KroonHendrik@
Business Wire
35 minutes ago
- Business Wire
BCI Invests in KKR Tower Platform Pinnacle Towers
SINGAPORE & VICTORIA, Canada--(BUSINESS WIRE)--KKR, a leading global investment firm, British Columbia Investment Management Corporation ('BCI'), and Pinnacle Towers, an Asia-based digital infrastructure platform with a focus on the Philippines, today announced the signing of definitive agreements under which BCI will acquire a minority stake in Pinnacle Towers from KKR, which will remain the majority shareholder. Pinnacle Towers was established in 2020 to serve the rapidly increasing demand for connectivity and quality telecommunications infrastructure in the Philippines. Led by a highly experienced management team, the platform specializes in executing on Build-to-Suit ('BTS') telecommunications tower projects, optimizing the use and management of Sale-and-Leaseback ('SLB') assets with leading mobile network operators, and providing ancillary management services to industry players. In the span of five years, Pinnacle Towers has scaled to become the largest independent tower company in the Philippines with around 7,000 towers. 1 Lincoln Webb, Executive Vice President & Global Head, Infrastructure & Renewable Resources, BCI, said, 'We are excited to work closely with KKR and Pinnacle's management team to support the growth of the business. The Philippines represents a compelling market for long-term capital, especially in essential digital infrastructure services. This investment aligns with our emerging markets strategy of backing high-quality infrastructure assets alongside strong institutional partners. We look forward to supporting Pinnacle Towers as it continues to enhance digital connectivity and drive meaningful impact across the Philippines.' Projesh Banerjea, Managing Director, Infrastructure, KKR, said, 'We are very proud of the success that we have achieved with Pinnacle Towers to serve the Philippines' connectivity needs. Since our initial investment, we have collaborated closely with Pinnacle Towers' outstanding management team to deepen the platform's capabilities and scale its presence organically and through bolt-on acquisitions. We are delighted to welcome BCI, who share our long-term vision and commitment to developing critical digital infrastructure, as strategic partners and look forward to building on Pinnacle Towers' strong growth momentum.' Patrick Tangney, Chairman and CEO of Pinnacle Towers, said, 'Over the last five years, with the support of KKR, Pinnacle Towers has grown to become the leading independent tower company in the Philippines. BCI's investment marks an important milestone in our journey and is a strong endorsement of our mission. With BCI and KKR as strategic partners, we are well-positioned to continue driving greater digital connectivity in the Philippines and across the region.' BCI Infrastructure & Renewable Resources has a global portfolio with nine active investments in the Asia-Pacific region, including Rakuten Mobile (a leading communications tower company in Japan), Altius (a leading communications tower company in India), and Cube Highways (the largest toll road operator in India). The program continues to expand its presence in the region with the addition of this minority stake acquisition in Pinnacle Towers. KKR made its investment in Pinnacle Towers from its Asia Infrastructure Funds I and II. KKR first established its global infrastructure team and strategy in 2008 and has since been one of the most active infrastructure investors around the world. KKR's Asia Pacific infrastructure platform was established in 2019 and has since organically grown to approximately US$13 billion in assets under management. The transaction is expected to be completed by Q3 2025, subject to customary regulatory approvals. About BCI British Columbia Investment Management Corporation (BCI) is amongst the largest institutional investors in Canada, with C$250.4 billion in gross assets under management as of March 31, 2024. Based in Victoria, British Columbia, with offices in Vancouver, New York, and London, U.K., BCI manages a portfolio of diversified public and private market investments on behalf of its British Columbia pension fund and institutional clients. Learn more at About KKR KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. 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Yahoo
2 hours ago
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Alcohol consumption in Ireland falls by almost 5% in a year
Alcohol consumption among adults in Ireland has fallen by almost 5 per cent in the last year, new figures show. A report by economist Anthony Foley found that average alcohol consumption per adult fell by 4.5 per cent last year, to 9.49 litres of pure alcohol. The data is consistent with a downward trend recorded over the last 25 years. The fall represents a drop of more than one-third (34.3 per cent) since 2001. Total consumption in Ireland fell by 2.4 per cent last year to 41.5 million litres, which equates to an overall 4.5 per cent drop in alcohol intake per person when last year's 2.3 per cent increase in the population is taken into account. The report indicates that consumption tastes are also evolving. Beer was Ireland's most popular alcohol last year, with its market share increasing by 0.4% to 43.3% despite an overall drop in beer consumption. Wine was the second-most popular drink, increasing its market share by 0.1% to 28.2% in 2024. Its popularity has increased significantly since 2000 (13.2%). Meanwhile, spirits fell by 0.4% to 22.3% and cider fell by 0.1% to 6.1%. The report was commissioned by the Drinks Industry Group of Ireland (Digi), which said the figures demonstrated that Irish people are increasingly drinking alcohol in moderation. It follows other recent data which suggests that alcohol consumption in Ireland is now at average European levels. OECD data for 2022 revealed that Irish consumption ranks behind countries including France, Spain and Austria, and a separate report by the Health Research Board last year also indicated that Ireland's alcohol consumption was at average levels by EU or OECD standards. Donall O'Keefe, the secretary of Digi and chief executive of the Licensed Vintners Association, said the findings are reflective of a trend over the last 25 years. He has also called on Government to cut excise rates. 'Today's figures offer clear proof of what many of us already know – Irish people are increasingly drinking in a restrained manner, with consumption continuing the downward trajectory that has been recorded since the millennium,' he said. 'In contrast to the negative stereotypes that once existed, alcohol consumption in Ireland is now at average European levels, with the purchase of non-alcoholic drinks continuing to increase. 'This downward trend also raises the obvious question as to why Ireland continues to have the second-highest excise rates on alcohol in Europe. 'Given that we now consume alcohol at average European levels it makes sense that we should pay excise at average European levels also. 'This is particularly true following the introduction of minimum unit pricing which prevents the sale of strong alcohol at low prices in supermarkets and shops. 'Across Ireland, hundreds of small rural pubs and restaurants are struggling for survival due to repeated increases in the cost of doing businesses, including staff, energy and insurance. 'A cut in excise would offer these businesses an opportunity to continue acting as vital hubs in their communities, as well as a crucial part of our tourism product.' 'Digi will be seeking a 10% cut in excise in this year's budget as an urgent measure to give these businesses a fighting chance of survival.' The Digi report was compiled by Prof Foley, associate professor emeritus at Dublin City University, using data from the CSO population and migration estimates for April 2024 and the Revenue Commissioners' alcohol clearances data.
