Latest news with #ISquared
CNA
3 days ago
- Business
- CNA
Exclusive-Kretinsky's EPH, Itochu among expected bidders for Energia, sources say
LONDON :Daniel Kretinsky-backed Czech energy group EPH and Japanese trading house Itochu are expected to make preliminary bids for Irish utility Energia Group, according to two sources with knowledge of the situation. Other expected bidders include investors Ardian, Asterion and CPP Investments, the people said. Itochu is expected to form a consortium and CPP Investments may team up with Britain's Octopus Energy, which it is an investor in, one of the people said. After being acquired by private equity firm I Squared for about $1 billion in 2016, a new sale could value Energia Group at more than 2 billion euros ($2.27 billion) including debt, the sources and a third one said. Non-binding offers are due this week, the sources and a fourth one said. All four sources spoke on condition of anonymity because the matter is private. I Squared, CPP Investments, Itochu, EPH, Ardian, Asterion all declined to comment. Energia Group referred questions to I Squared and Octopus Energy did not reply immediately to a request for comment. Energia Group, which supplies approximately 17 per cent of Ireland's total electricity requirements, is the latest power company to draw investor interest following the acquisition of Electricity North West by Iberdrola last year. The company is an integrated utility with investments in renewables, power distribution, data centres and gas turbines. Energia Group recently secured permission from Irish authorities to build a data centre in Dublin allowing its sale process to go ahead, three of the sources said. ($1 = 0.8814 euros)
Reuters
3 days ago
- Business
- Reuters
Exclusive: Kretinsky's EPH, Itochu among expected bidders for Energia, sources say
LONDON, May 30 (Reuters) - Daniel Kretinsky-backed Czech energy group EPH and Japanese trading house Itochu (8001.T), opens new tab are expected to make preliminary bids for Irish utility Energia Group, according to two sources with knowledge of the situation. Other expected bidders include investors Ardian, Asterion and CPP Investments, the people said. Itochu is expected to form a consortium and CPP Investments may team up with Britain's Octopus Energy, which it is an investor in, one of the people said. After being acquired by private equity firm I Squared for about $1 billion in 2016, a new sale could value Energia Group at more than 2 billion euros ($2.27 billion) including debt, the sources and a third one said. Non-binding offers are due this week, the sources and a fourth one said. All four sources spoke on condition of anonymity because the matter is private. I Squared, CPP Investments, Itochu, EPH, Ardian, Asterion all declined to comment. Energia Group referred questions to I Squared and Octopus Energy did not reply immediately to a request for comment. Energia Group, which supplies approximately 17% of Ireland's total electricity requirements, is the latest power company to draw investor interest following the acquisition of Electricity North West by Iberdrola last year. The company is an integrated utility with investments in renewables, power distribution, data centres and gas turbines. Energia Group recently secured permission from Irish authorities to build a data centre in Dublin allowing its sale process to go ahead, three of the sources said. Reuters first reported last year that I Squared was exploring selling Energia. ($1 = 0.8814 euros)
Time of India
21-05-2025
- Business
- Time of India
China Mobile closer to taking over Hong Kong broadband company HKBN
By Kane Wu and Yantoultra Ngui HONG KONG/SINGAPORE: China Mobile , the world's biggest wireless carrier by users, is moving closer to a deal to take over Hong Kong broadband company HKBN after rival bidder I Squared Capital dropped out of the race, three sources said. U.S.-based global infrastructure investor I Squared was preparing to trump China Mobile's offer of HK$5.23 per HKBN share made in December, but was not keen to pay more than HK$6 apiece, Reuters reported in January. I Squared however did not secure approval from Chinese sovereign wealth fund China Investment Corp (CIC) to go ahead with the bid for HKBN, said the sources, who have knowledge of the matter. CIC vetoed the deal as a minority shareholder in I Squared-controlled HGC Global Communications in Hong Kong, as a potential acquisition could affect the operations of the fixed-line operator, which also has a broadband business, said one of the sources. I Squared and CIC declined to comment. State-owned China Mobile did not immediately respond to Reuters' requests for comment. China Mobile made its takeover offer in early December, valuing HKBN at HK$7.8 billion ($996.1 million), after first showing interest nearly two years ago. The company currently has a market value of HK$7.6 billion with the stock at HK$5.10 on Wednesday. Deal terms are still being negotiated and could be affected by a mismatch in valuation expectations, one of the sources said. All the sources declined to be named as the matter was confidential. "We are still in discussions with various parties, and are fully committed to protecting the interests of all shareholders," HKBN said in a statement to Reuters. I Squared's departure from the bidding race for HKBN comes weeks after China Mobile acquired a 15.5% stake in the company in April from existing shareholder TPG.
Reuters
21-05-2025
- Business
- Reuters
China Mobile closer to taking over Hong Kong broadband company HKBN, sources say
HONG KONG/SINGAPORE, May 21 (Reuters) - China Mobile ( opens new tab, the world's biggest wireless carrier by users, is moving closer to a deal to take over Hong Kong broadband company HKBN ( opens new tab after rival bidder I Squared Capital dropped out of the race, three sources said. U.S.-based global infrastructure investor I Squared was preparing to trump China Mobile's offer of HK$5.23 per HKBN share made in December, but was not keen to pay more than HK$6 apiece, Reuters reported in January. I Squared however did not secure approval from Chinese sovereign wealth fund China Investment Corp (CIC) to go ahead with the bid for HKBN, said the sources, who have knowledge of the matter. CIC vetoed the deal as a minority shareholder in I Squared-controlled HGC Global Communications in Hong Kong, as a potential acquisition could affect the operations of the fixed-line operator, which also has a broadband business, said one of the sources. I Squared and CIC declined to comment. State-owned China Mobile did not immediately respond to Reuters' requests for comment. China Mobile made its takeover offer in early December, valuing HKBN at HK$7.8 billion ($996.1 million), after first showing interest nearly two years ago. The company currently has a market value of HK$7.6 billion with the stock at HK$5.10 on Wednesday. Deal terms are still being negotiated and could be affected by a mismatch in valuation expectations, one of the sources said. All the sources declined to be named as the matter was confidential. "We are still in discussions with various parties, and are fully committed to protecting the interests of all shareholders," HKBN said in a statement to Reuters. I Squared's departure from the bidding race for HKBN comes weeks after China Mobile acquired a 15.5% stake in the company in April from existing shareholder TPG. ($1 = 7.8288 Hong Kong dollars)
Yahoo
21-05-2025
- Business
- Yahoo
China Mobile closer to taking over Hong Kong broadband company HKBN, sources say
By Kane Wu and Yantoultra Ngui HONG KONG/SINGAPORE (Reuters) -China Mobile, the world's biggest wireless carrier by users, is moving closer to a deal to take over Hong Kong broadband company HKBN after rival bidder I Squared Capital dropped out of the race, three sources said. U.S.-based global infrastructure investor I Squared was preparing to trump China Mobile's offer of HK$5.23 per HKBN share made in December, but was not keen to pay more than HK$6 apiece, Reuters reported in January. I Squared however did not secure approval from Chinese sovereign wealth fund China Investment Corp (CIC) to go ahead with the bid for HKBN, said the sources, who have knowledge of the matter. CIC vetoed the deal as a minority shareholder in I Squared-controlled HGC Global Communications in Hong Kong, as a potential acquisition could affect the operations of the fixed-line operator, which also has a broadband business, said one of the sources. I Squared and CIC declined to comment. State-owned China Mobile did not immediately respond to Reuters' requests for comment. China Mobile made its takeover offer in early December, valuing HKBN at HK$7.8 billion ($996.1 million), after first showing interest nearly two years ago. The company currently has a market value of HK$7.6 billion with the stock at HK$5.10 on Wednesday. Deal terms are still being negotiated and could be affected by a mismatch in valuation expectations, one of the sources said. All the sources declined to be named as the matter was confidential. "We are still in discussions with various parties, and are fully committed to protecting the interests of all shareholders," HKBN said in a statement to Reuters. I Squared's departure from the bidding race for HKBN comes weeks after China Mobile acquired a 15.5% stake in the company in April from existing shareholder TPG. ($1 = 7.8288 Hong Kong dollars) Sign in to access your portfolio
