Latest news with #Delfin
Reuters
5 days ago
- Business
- Reuters
Monte dei Paschi's bid for Mediobanca lacks industrial logic, Generali CEO says
ROME, June 4 (Reuters) - Monte dei Paschi di Siena's (MPS) ( opens new tab bid for Mediobanca ( opens new tab makes no industrial sense, the chief executive of insurer Generali ( opens new tab said in an interview on Wednesday, adding that the bid was aimed at taking charge of his company. "The industrial logic is not clear, many have expressed doubts" (about the offer), Generali CEO Philippe Donnet told daily la Repubblica. "It is clear" that Monte dei Paschi's takeover is geared towards taking control of Generali, Donnet said, given that some shareholders own significant stakes in both the Italian banks and in the insurer. "I see this as a very negative scenario, it would be dangerous for a healthy management of the group. The company need to stay Italian, independent and international," he added. Construction magnate Francesco Gaetano Caltagirone and investment company Delfin recently acquired nearly 20% of Monte dei Paschi. They together hold 27% of Mediobanca and 17% of Generali.
Yahoo
29-05-2025
- Business
- Yahoo
Fairfield man indicted for failing to pay over $2 million in employment taxes
( — A federal jury returned a 41-count indictment against Warren Soto Delfin, 54, of Fairfield, charging him with failure to pay more than $2 million in trust fund taxes to the Internal Revenue Service, according to U.S. Attorney Michele Beckwith. Beckwith stated that, according to court documents, between January 2018 and December 2022, Felfin owned and operated five home health care businesses that made over $2 million in employment taxes. The tax liabilities stem from amounts Delfin withheld from his employer's paychecks. Folsom PD investigates two unrelated fatal crashes within 9-hours Instead of Delfin paying the employees' withholdings to the IRS as required under the law, he retained them and used the money to purchase luxury items, including a Lamborghini, jewelry, and real estate, according to Beckwith. According to officials, if Delfin is convicted, he will face a maximum statutory penalty of five years in prison and a $250,00 fine for each charged count, and any other sentence would be determined at the discretion of the court after consideration of any applicable statutory factors and the Federal Sentencing Guidelines. 'The charges are only allegations; the defendant is presumed innocent until and unless proven guilty beyond a reasonable doubt,' officials said. Authorities stated that this case is being handed over to the IRS Criminal Investigation and the Department of Health and Human Services, Office of Inspector General. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Business Mayor
26-04-2025
- Business
- Business Mayor
Generali has become a little harder to shove offstage
Unlock the Editor's Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. In a dress rehearsal, minor slip-ups are easily forgiven. But the cast's performance — sparkling or shabby as it may be — does set the tone for the main event. That is one way to read events at Italy's Generali, where key shareholder Mediobanca won control of the insurer's board of directors earlier this week. Its slate, which confirmed existing chief executive Philippe Donnet, gained the support of much of the international shareholder base. The rival faction — captained by rebel shareholders Francesco Gaetano Caltagirone and the Luxottica family holding company Delfin — gained little sway beyond local allies. All this may well have been an exercise in theatrics. After all, Mediobanca itself is under siege. It faces a hostile offer from the world's oldest bank, Monte dei Paschi di Siena, in which Delfin and Caltagirone hold significant stakes. Should Mediobanca's defences be breached, that might bring its key stake in Generali into their orbit and give them another run at control of the insurer. Generali's newly appointed board does not expire until 2028, but the fiery rebels could conceivably call an extraordinary shareholder meeting to try to ram their candidates through earlier. Mediobanca's victory earlier this week may slow their roll. True, the result came about — at least partly — through an own goal from the Caltagirone crowd. Had their six-candidate slate garnered the most votes, the resulting board would have been unwieldy and tricky to manage. That likely prompted international investors to throw their lot in with Mediobanca. Read More Annuities look sexy again: should Barbie buy one at 64? Yet the fact that international shareholders played nice with Mediobanca may also reflect the fact that Generali is by no means in urgent need of a fix. Indeed, it has gradually been making up the ground it lost to European rivals. Since 2016, when Donnet took the helm, the group's net income has risen by almost 80 per cent, well above Axa and Allianz. And over the past year Generali's stock — undoubtedly also frothed up by the shareholder battle — has comfortably outperformed that of European rivals. There are bound to be quibbles, of course. Generali's deal to merge its asset management arm with France's Natixis, for example, has attracted much local wailing. But the insurer's solid performance deprives rebel shareholders of at least one good reason to upend the board ahead of time. None of this may matter when the time comes. Pending the outcome of the bunfight at Mediobanca, challengers may end up with the votes to shove their candidates through willy-nilly. But their poor performance at the practice run spotlights the weakness of their script.
Yahoo
26-03-2025
- Business
- Yahoo
Delfin Midstream and SEFE sign agreement for long-term supply of LNG
Delfin Midstream and SEFE Securing Energy for Europe have signed a heads of agreement for the long-term supply of 1.5 million tonnes per annum (mtpa) of liquefied natural gas (LNG) for a minimum of 15 years. The LNG will be sourced from Delfin-deployed floating LNG (FLNG) vessels located 40 miles offshore near Cameron, Louisiana, on the US Gulf Coast. The free-on-board deliveries will begin immediately after the construction and commissioning of the FLNG vessels, ensuring SEFE can provide LNG supply security to its customers. Delfin CEO Dudley Poston said: 'We are very pleased to enter into this agreement with SEFE and continue to build on Delfin's position as a leading source of reliable low-cost energy from the safety of the United States. We look forward to continuing to advance our critical energy infrastructure project for the benefit of our US stakeholders and international commercial partners.' Delfin LNG is a brownfield deep-water port project that the developer claims will require only minimal additional infrastructure investment to accommodate FLNG vessels capable of producing up to 13.2mtpa of LNG. In 2015, Delfin submitted its application for a deep-water port licence and subsequently received a favourable Record of Decision from the Maritime Administration. Additionally, the company obtained the Deepwater Port Licence and secured approval from the Department of Energy (DOE) for long-term LNG exports to countries without free trade agreements with the US, allowing for exports of up to 13.2mtpa. SEFE CCO Frederic Barnaud said: 'This long-term agreement with Delfin enables SEFE to further diversify its LNG portfolio with greater destination flexibility. This in turn ensures the security of supply of SEFE's customers in Europe and around the world.' Earlier this month, the US DOE approved an extension to Delfin LNG's export permit, providing Delfin with more time to initiate exports from its planned offshore project in Louisiana. Delfin, which is majority-owned by Fairwood Peninsula, Talisman Global Alternative Master and Talisman Global Capital Master, expects to take a final investment decision (FID) later this year. It plans to commence construction of its offshore FLNG vessel following the FID. "Delfin Midstream and SEFE sign agreement for long-term supply of LNG" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Reuters
25-03-2025
- Business
- Reuters
Delfin LNG and German firm SEFE sign 15-year supply deal
HOUSTON, March 25 (Reuters) - Delfin LNG and German company Securing Energy For Europe (SEFE) have signed a 15-year agreement for 1.5 million tons of U.S. LNG per annum, the companies said on Tuesday. Under the agreement, liquefied natural gas would be exported from floating LNG (FLNG) vessels that Delfin wants to deploy off Cameron Parish, Louisiana, Delfin said in a press release. The Reuters Power Up newsletter provides everything you need to know about the global energy industry. Sign up here. The free-on-board deliveries will commence immediately following the construction and commissioning of the FLNGs, Delfin said. It did not provide a timeline. The project does not yet have a final investment decision. "This long-term agreement with Delfin enables SEFE to further diversify its LNG portfolio with greater destination flexibility," said SEFE's chief commerical officer, Frederic Barnaud. SEFE also has LNG supply agreements with other U.S. producers including Venture Global LNG (VG.N), opens new tab. Last Friday, the U.S. Maritime Administration issued a license authorizing Delfin to build a deepwater port to export LNG from the United States. The company also has a license from the Department of Energy to export up to 13.2 MTPA of the superchilled gas to countries that do not have a free trade agreement with the United States. The U.S. is the world's largest exporter of LNG and has played a crucial role in providing Europe and Germany with the gas it needs to replace Russian gas following Russia's invasion of Ukraine.
