Latest news with #KlausLauer
Al Etihad
14-07-2025
- Business
- Al Etihad
Empowering youth bedrock for sustainable giving in frontline: Frontline Heroes Office
By Maria Martinez BERLIN (Reuters) -German exporters have lost significant ground in global markets since 2021 due mainly to a broad-based deterioration in the country's competitiveness, the Bundesbank said on Monday. According to the Bundesbank's monthly report, more than three-quarters of Germany's export market share losses between 2021 and 2023 resulted from worsening supply-side conditions that left domestic exporters less competitive internationally. The report found that the decline was widespread across sectors and comparatively severe by international standards, signalling deep-rooted structural challenges for Europe's largest economy. Industries such as mechanical engineering, electrical equipment and energy-intensive sectors like chemicals were among the hardest hit, according to the report. The study also pointed to the impact of rising energy prices and persistent supply chain disruptions, which weighed heavily on German exporters during the 2021-to-2023 period covered by the report. The report called for urgent reforms to improve Germany's business climate, including measures to boost incentives to work, reduce barriers for skilled migrants, cut red tape and enhance tax breaks for private investment. The findings come after the German government unveiled a series of measures aimed at boosting investment and innovation, but analysts warn that more comprehensive reforms may be necessary to restore the country's competitive edge on the world stage. (Reporting by Maria Martinez and Klaus Lauer, editing by Rachel More)
Yahoo
22-03-2025
- Business
- Yahoo
ProSieben oks General Atlantic deal on digital assets
By Elvira Pollina and Klaus Lauer (Reuters) - German media group ProSiebenSat.1 said on Thursday it has approved an agreement with U.S. private equity firm General Atlantic on the acquisition of the U.S. firm's minority stakes in dating platform ParshipMeet and internet holding NuCom Group. The deal with General Atlantic is expected to pave the way to the sale of ProSieben digital assets, including e-commerce portal Verivox to Italy's Moltiply Group. ProSieben agreed to pay 10 million euros ($10.85 million) in cash and 5.9 million treasury shares of the company, with a current market value of 38 million euros and corresponding to 2.5% of the company's share capital. The payment includes a fixed exit participation of 50 million euros for GA when ProSieben sells the ParshipMeet Group. The deal with General Atlantic does not include a convertible bond ProSieben had considered that would have given GA up to 10% in the German broadcaster. Earlier this week the supervisory board put on hold the convertible bond, which would have diluted existing shareholders. Verivox's sale process is being closely followed by the top two investors in ProSieben: MFE-MediaForEurope, the TV group controlled by Italy's Berlusconi family, and Czech investment company PPF. Both MFE and PPF have called on ProSieben to focus on its core TV business and part ways with its e-commerce and online assets. The GA deal includes the acquisition of the entire minority shareholdings in NuCom Group, excluding perfume e-retailer Flaconi. General Atlantic will hold its 28.4% minority stake in Flaconi directly and not, as currently, indirectly through NuCom Group. ($1 = 0.9216 euros) Sign in to access your portfolio
Yahoo
20-03-2025
- Business
- Yahoo
ProSieben oks General Atlantic deal on digital assets
By Elvira Pollina and Klaus Lauer (Reuters) - German media group ProSiebenSat.1 said on Thursday it has approved an agreement with U.S. private equity firm General Atlantic on the acquisition of the U.S. firm's minority stakes in dating platform ParshipMeet and internet holding NuCom Group. The deal with General Atlantic is expected to pave the way to the sale of ProSieben digital assets, including e-commerce portal Verivox to Italy's Moltiply Group. ProSieben agreed to pay 10 million euros ($10.85 million) in cash and 5.9 million treasury shares of the company, with a current market value of 38 million euros and corresponding to 2.5% of the company's share capital. The payment includes a fixed exit participation of 50 million euros for GA when ProSieben sells the ParshipMeet Group. The deal with General Atlantic does not include a convertible bond ProSieben had considered that would have given GA up to 10% in the German broadcaster. Earlier this week the supervisory board put on hold the convertible bond, which would have diluted existing shareholders. Verivox's sale process is being closely followed by the top two investors in ProSieben: MFE-MediaForEurope, the TV group controlled by Italy's Berlusconi family, and Czech investment company PPF. Both MFE and PPF have called on ProSieben to focus on its core TV business and part ways with its e-commerce and online assets. The GA deal includes the acquisition of the entire minority shareholdings in NuCom Group, excluding perfume e-retailer Flaconi. General Atlantic will hold its 28.4% minority stake in Flaconi directly and not, as currently, indirectly through NuCom Group. ($1 = 0.9216 euros) Sign in to access your portfolio
Yahoo
28-01-2025
- Automotive
- Yahoo
VW CEO says firm talking to Chinese partners on investing in German plants
By Klaus Lauer BERLIN (Reuters) - Volkswagen and its Chinese partners have discussed the possibility of them investing in plants in Germany, VW Chief Executive Oliver Blume told Reuters on Tuesday. Last week, Reuters reported that Chinese investors were shopping for German factories. "We have close partnerships in China and of course, there have been conversations, but no concrete decisions," Blume told Reuters when asked whether he would consider selling a German factory to a Chinese investor. Blume was speaking on the sidelines of a conference in Berlin organised by German publication Die Welt. Volkswagen has three joint venture partners in China - SAIC, FAW and JAC - and owns a stake in Chinese EV startup Xpeng, none of whom currently have production facilities in Europe. Volkswagen is exploring alternative uses for its Dresden and Osnabrueck factories under a cost-cutting drive to pare back its German operations. Europe's biggest automaker, which owns brands including Porsche, Audi and Skoda, has suffered a fall in sales exacerbated by rising competition from Chinese automakers. Its top executives wanted to close several plants but faced resistance from unions. In a deal struck before Christmas they agreed to end production in Dresden, a 340-worker plant making the electric ID.3, from 2025, and Osnabrueck, where 2,300 employees produce the T-Roc Cabrio, from 2027. So far, Chinese automakers have shown little public interest in building or buying plants in Germany, known for its high energy and labour costs. China's largest automaker BYD is building a plant in Hungary, while Chery will start production in Spain later this year via a joint venture with Spanish partner Ebro. Sign in to access your portfolio
Yahoo
28-01-2025
- Automotive
- Yahoo
VW CEO says firm talking to Chinese partners on investing in German plants
By Klaus Lauer BERLIN (Reuters) - Volkswagen and its Chinese partners have discussed the possibility of them investing in plants in Germany, VW Chief Executive Oliver Blume told Reuters on Tuesday. Last week, Reuters reported that Chinese investors were shopping for German factories. "We have close partnerships in China and of course, there have been conversations, but no concrete decisions," Blume told Reuters when asked whether he would consider selling a German factory to a Chinese investor. Blume was speaking on the sidelines of a conference in Berlin organised by German publication Die Welt. Volkswagen has three joint venture partners in China - SAIC, FAW and JAC - and owns a stake in Chinese EV startup Xpeng, none of whom currently have production facilities in Europe. Volkswagen is exploring alternative uses for its Dresden and Osnabrueck factories under a cost-cutting drive to pare back its German operations. Europe's biggest automaker, which owns brands including Porsche, Audi and Skoda, has suffered a fall in sales exacerbated by rising competition from Chinese automakers. Its top executives wanted to close several plants but faced resistance from unions. In a deal struck before Christmas they agreed to end production in Dresden, a 340-worker plant making the electric ID.3, from 2025, and Osnabrueck, where 2,300 employees produce the T-Roc Cabrio, from 2027. So far, Chinese automakers have shown little public interest in building or buying plants in Germany, known for its high energy and labour costs. China's largest automaker BYD is building a plant in Hungary, while Chery will start production in Spain later this year via a joint venture with Spanish partner Ebro. Sign in to access your portfolio
