Latest news with #AndresGonzalez
Yahoo
5 days ago
- Business
- Yahoo
Deal-hungry equity investors eye Europe's potential defence industry boom
By Emma-Victoria Farr and Andres Gonzalez BERLIN (Reuters) -Global investors and advisers gathered at their annual conference in Berlin are looking at channelling funds into Europe's defence industry, seeking to profit from governments' ramped-up military spending and revive a sluggish private equity market. Private equity and venture capital-backed investment in Europe's aerospace and defence sector is dwarfed by that funnelled into the U.S. and Canada, which have absorbed 83% of all such investment since 2020, according to S&P. Once a controversial topic for investors in Europe concerned with environmental, social, and governance investment policies, the continent's defence sector is now drawing private equity funds, said seven advisers and fund executives - some of whom are attending the SuperReturn conference this week. European money managers have been reconsidering policies on investing in defence, under pressure from clients and some politicians to loosen restrictions and help fund the continent's race to re-arm and reduce dependence on the U.S. "Defence used to be a topic that received automatic exclusion, now even some ESG-focused investors are looking to deploy capital to support European defence," said Sophia Alison, EMEA Direct Lending Portfolio Manager at Macquarie Asset Management, who was attending the conference. "That's a very tangible shift from 12 or 18 months ago." While none of them gave estimates of how much funding might shift from Europe from the U.S. and Canada, private investors are looking in particular at opportunities in space technology, both for military and civilian use. Several panels on investing in Germany were held on Tuesday, ahead of the first main conference day on Wednesday when tennis star Serena Williams was set to address an estimated 5,500 attendees. Germany's recent infrastructure and defence investment programmes, including its 500-billion euro ($570 billion) initiative approved in March, have bolstered the country's attractiveness to private equity firms. "We feel the momentum and change in sentiment that Germany and Europe are more in focus than before," said Simon Pex, managing director at Carlyle Europe Partners. "The more positive political sentiment in the country might accelerate economic growth in a positive way. Germany could be a good place of opportunity in the next decade." DEALMAKING STYMIED Despite the optimism around Europe's defence spending, broader private equity dealmaking remains constrained by the threat of recession. The value of private equity assets sales through the initial public offering market in Europe has dropped to an average of $3.7 billion in the last four years, a fraction of the more than $17 billion on average in the previous four years, according to Dealogic data. Investors are heading into their fourth straight year of muted realisations from their portfolios, said Joana Rocha Scaff, head of Europe Private Equity at Neuberger Berman. "Despite many investors' initial optimism about a benign macro backdrop for 2025, the turbulence and noise since January has weighed on investment activity, delayed exits via M&A or IPOs and in doing so tightened liquidity conditions," she said. At the current pace, 2025 will become the fourth consecutive year with private equity asset sales below $144 billion, the average since 2014, Dealogic data shows. ($1 = 0.8771 euros) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
23-05-2025
- General
- Yahoo
Heroes of the high plateau: UN celebrates South America's camelids
By Nicolas Cortes SANTIAGO (Reuters) -Llamas, alpacas, vicuñas, and guanacos in South America are being hailed as heroes of the high plateaus for their resilience to harsh environments and climate change, as well as their cultural, economic and ecological value. Representatives from Chile, Bolivia, Ecuador, Argentina and Peru met in the city of Antofagasta in northern Chile in early May to celebrate the animals and strengthen management strategies in a meeting supported by the U.N.'s Food and Agriculture Organization (FAO). "These animals are considered heroes for their ability to thrive in harsh ecosystems like the high plateau," Andres Gonzalez, a regional officer for Animal Health and Production at the FAO told Reuters. "They represent a natural hardiness that allows them to adapt and continue to thrive in these adverse conditions." A report issued during the meeting, noted that as pressures on natural resources and impacts from climate change continue to grow, camelids "play a crucial role in the nutrition and livelihoods" of people across the highlands. South American camelids are mostly concentrated in the Andes in Argentina, Bolivia, Chile, Ecuador, and Peru, where they perform key functions for local communities and ecosystems. Peru leads the region in production, accounting for 5 million alpacas, or nearly 80%, while Bolivia accounts for more than 60% of llamas. Despite having a smaller share, numbering tens of thousands, camelids in Chile account for 40% to 80% of income in high Andean farms, according to the FAO. Aside from the economic benefit, camelids are also an ancestral way of life on the highlands, with breeding knowledge passing down generations of Indigenous of Aymara, Likan Antay, Quechua and Colla peoples. "They are blessed animals," Evelyn Salas, a Peruvian alpaca and llama breeder said at the meeting. "They represent our culture, our life, our ancestry, our roots, and they continue to be our future."
Reuters
23-05-2025
- General
- Reuters
Heroes of the high plateau: UN celebrates South America's camelids
SANTIAGO, May 23 (Reuters) - Llamas, alpacas, vicuñas, and guanacos in South America are being hailed as heroes of the high plateaus for their resilience to harsh environments and climate change, as well as their cultural, economic and ecological value. Representatives from Chile, Bolivia, Ecuador, Argentina and Peru met in the city of Antofagasta in northern Chile in early May to celebrate the animals and strengthen management strategies in a meeting supported by the U.N.'s Food and Agriculture Organization (FAO). "These animals are considered heroes for their ability to thrive in harsh ecosystems like the high plateau," Andres Gonzalez, a regional officer for Animal Health and Production at the FAO told Reuters. "They represent a natural hardiness that allows them to adapt and continue to thrive in these adverse conditions." A report issued, opens new tab during the meeting, noted that as pressures on natural resources and impacts from climate change continue to grow, camelids "play a crucial role in the nutrition and livelihoods" of people across the highlands. South American camelids are mostly concentrated in the Andes in Argentina, Bolivia, Chile, Ecuador, and Peru, where they perform key functions for local communities and ecosystems. Peru leads the region in production, accounting for 5 million alpacas, or nearly 80%, while Bolivia accounts for more than 60% of llamas. Despite having a smaller share, numbering tens of thousands, camelids in Chile account for 40% to 80% of income in high Andean farms, according to the FAO. Aside from the economic benefit, camelids are also an ancestral way of life on the highlands, with breeding knowledge passing down generations of Indigenous of Aymara, Likan Antay, Quechua and Colla peoples. "They are blessed animals," Evelyn Salas, a Peruvian alpaca and llama breeder said at the meeting. "They represent our culture, our life, our ancestry, our roots, and they continue to be our future."
Yahoo
14-05-2025
- Business
- Yahoo
Exclusive-TenneT in talks with funds to sell up to $13 billion stake in German unit, sources say
By Christoph Steitz, Andres Gonzalez and Emma-Victoria Farr FRANKFURT/LONDON (Reuters) -State-owned Dutch power grid operator TenneT has kicked off talks with investors about the sale of a minority stake in its German division, four people familiar with the matter said, in what could become one of Europe's largest deals in 2025. TenneT Germany has a regulated asset base (RAB), a key valuation gauge for energy grids, of 27.8 billion euros ($31 billion) as of 2024, which is set to grow by 25% each year through 2029, according to an investor presentation on its website. A sale of new shares in TenneT Germany could raise up to 12 billion euros, three of the people said, adding that the amount could be significantly lower depending on the size of the stake settled upon and level of debt. The Dutch state has committed to guarantee a BBB-rated capital structure for TenneT Germany, in line with other German high voltage grid operators (TSOs). Non-binding bids for the business are due mid-June, the sources said, speaking on condition of anonymity because the matter is private. TenneT and the Dutch government declined to comment. The U.S. trade war has stymied dealmaking in recent weeks but grid assets, which are regulated and provide fixed returns, are expected to be more attractive to investors against a backdrop of falling interest rates and heightened economic uncertainty, the sources said. Funds including Apollo Global Management, Canada's Caisse de depot et placement du Quebec (CDPQ) and Macquarie are interested in the sale, two of the people said. BlackRock-owned Global Infrastructure Partners (GIP) and CPP Investment Board (CPPIB), which manages Canadians' pension savings, are also expected to show interest, one of the people and a third one said. More suitors could emerge and parties are expected to team up given the potential size of the deal, two of the people said, adding there was no certainty of a transaction. Apollo, CDPQ, Macquarie, GIP and CPPIB all declined to comment. The Dutch government has embarked on a dual track process for TenneT Germany after a partial sale to German state lender KfW failed to materialise last year. The Hague remains open to Germany taking a stake in the company. Apart from a sale, the government could opt for a partial initial public offering of the business. Dutch Finance Minister Eelco Heinen, in a letter sent to parliament this week, said he wanted to settle on one of the two paths in early July. "Based on discussions with investors and expected non-binding bids, I will assess with TenneT what is expected to be the best option," he said in the letter dated May 13. With a network of more than 14,000 kilometres, TenneT Germany is the country's largest high-voltage power grid operator and made earnings before interest, tax, depreciation and amortisation of 2.2 billion euros in 2024. ($1 = 0.8919 euros)
Yahoo
09-05-2025
- Business
- Yahoo
Nestle hires Rothschild for water unit sale, Reuters reports
Nestle (NSRGY) has selected Rothschild to advise on the sale of its water division later this year, four people familiar with the matter tell Reuters, Amy-Jo Crowley, Andres Gonzalez and Richa Naidu report. The water unit could be valued at EUR 5B or more, a source says, adding that Nestle is aiming to keep a stake in the business. Sources say 'several' private equity companies are interested in the Nestle unit. Discover companies with rock-solid fundamentals in TipRanks' Smart Value Newsletter. Receive undervalued stocks, resilient to market uncertainty, delivered straight to your inbox. Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See Insiders' Hot Stocks on TipRanks >> Read More on NSRGY: Disclaimer & DisclosureReport an Issue Nestle price target lowered to CHF 77 from CHF 79 at Morgan Stanley Nestlé's Strategic Pricing and Strong Brand Presence Drive Buy Rating Amidst Inflation Challenges Nestle price target lowered to CHF 88 from CHF 93 at RBC Capital Nestle reports Q1 sales CHF 22.6B vs. CHF 22.1B last year Nestle says 'Fuel for Growth' program 'progressing to plan' Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
