Latest news with #Itochu
BreakingNews.ie
3 days ago
- Business
- BreakingNews.ie
Czech billionaire among expected bidders for Irish utility Energia, sources say
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. Advertisement Kretinsky is also the co-owner and president of football club Sparta Prague, and director and major shareholder of English football club West Ham United. 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 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. Ireland Energy regulator proposes rules for data centres t... Read More 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 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.
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)
Nikkei Asia
4 days ago
- Automotive
- Nikkei Asia
Itochu to help Asian rubber farmers address EU deforestation law
TOKYO -- Japanese trading house Itochu plans to launch a tracking system to help Southeast Asia's rubber farmers cope with a European Union anti-deforestation law that will soon come into force, potentially easing the pressure on smallholder producers. Itochu will set up a new company, called Project Tree Indonesia, to deploy a track and trace system. This will allow manufacturers of tires, which use about 70% of the natural rubber produced worldwide, to determine whether the rubber used in their products is compliant with the EU's deforestation regulation (EUDR).
Nikkei Asia
5 days ago
- Automotive
- Nikkei Asia
Japan's Itochu invests in US self-driving startup May Mobility
TOKYO -- Japanese trading house Itochu is investing in U.S. autonomous driving startup May Mobility to the tune of 1 billion yen ($6.9 million), Nikkei has learned, looking to roll out May's services onto Japan's roads. The transaction occurred in April as part of a capital and business alliance. The two sides will finalize details of the partnership later.
