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Investment opportunities, Av. du Prince Héritier 110, Woluwé-Saint-Lambert (2026)

20/04/2023

Louis Vuitton. Tesla. Amazon. The business behind the richest people in the world needs no introduction. But last year a much lesser-known brand made the list.

The new entrant was the Adani Group, an Indian conglomerate that controls ports, coal mines, food processing plants, airports and more. The group's astronomical rise brought its founder, Gautam Adani, a fortune of nearly $120 billion, putting him on par with Bernard Arnault, Ilo Musk and Jeff Bezos.

Adani did not stay in that group for long, however. He's still incredibly rich, but he's already lost $60 billion, and now he's going through perhaps the biggest test of his career.

Hindenburg Research, a small New York-based investment firm, accused Adani of "unscrupulous financial fraud, stock manipulation and money laundering." The Adani Group denies Hindenburg's claims.

Since the Hindenburg report was published, the conglomerate has lost an impressive $100 billion in value. And Adani's collapse -- he is still one of Asia's richest men and runs India's largest conglomerate -- could portend serious consequences for a country that is showing strong economic growth.

19/04/2023

The Ministry of Finance (MOFI) was founded in 1959 and was intended to be a special tool for investing in commercial ventures in various industries, but has been largely dormant.

The law establishing MOFI gives it the authority to enter into "commercial transactions of any kind on behalf of the federal government," President Muhammadu Buhari said Wednesday.

The MOFI will serve as a clearing house for the management of government investments and assets, ensuring that they bring "high risk-adjusted returns to the government," the president added. He instructed the Ministry of Finance to create a consolidated registry of government assets to help transform them "into cash-generating enterprises to support increased government revenues." Since 2015, the West African country has consistently missed revenue targets in its annual plans.

Debt service payments accounted for about 80 percent of government revenue last year, and Africa's largest economy is exploring alternative ways to boost its revenue. Nigeria is also struggling with slow growth, and the dollar's compression after the drop in oil production has put pressure on its foreign exchange reserves.

Buhari will lead MOFI's new governing board, and former finance minister Shamsudin Usman will head the new board.

18/04/2023

Our Next Energy Inc., a Michigan-based battery startup founded by veteran Apple Inc. Mujib Ijaz, has raised $300 million.

The fundraiser values the company at $1.2 billion and was led by two new investors, Fifth Wall, a real estate venture capital firm, and Franklin Templeton. Temasek, Riverstone Holdings and Coatue also joined the round, as well as existing investors BMW i Ventures, Volta Energy Technologies and Bill Gates' Breakthrough Energy Ventures.

The current economic situation, with tech companies cutting jobs and rising interest rates suppressing investors' appetite for risk, makes it difficult to get funding, said Ijaz, who founded the company in 2020 after leaving Apple to return to Michigan.

The growth of the electric car market has created challenges for the auto industry, including a shortage of batteries and a sharp rise in the price of raw materials used to make them, such as nickel and cobalt. At the same time, President Joe Biden is investing billions in creating a supply chain for electric cars in the U.S. to reduce dependence on China as geopolitical tensions between the two countries increase.

ONE is betting on being able to solve both of these problems by becoming a full-fledged U.S. battery manufacturer capable of competing with global suppliers from Korea, Japan and China. Its key innovation is a battery design that can provide a higher range of lithium-iron-phosphate batteries, a cheaper, more stable but less powerful chemical composition than the nickel-based batteries used by most automakers today.

The Novi, Michigan-based startup is building a $1.6 billion, 20-gigawatt-hour cell manufacturing plant in southeast Michigan that will produce lithium-iron-phosphate batteries and eventually hire more than 2,100 people. Production is scheduled to begin in 2024 and reach full capacity in 2027.

18/04/2023

According to the statement, funds managed by Apollo are buying Western Digital's convertible preferred stock, and Apollo partner Reed Rayman will get a seat on the board of directors.

The investment is a precursor to a merger with Japan's Kioxia Holdings Corp. Those talks are still active and ongoing. The hard drive business is expected to remain separate, but details may change.

Bloomberg News previously reported that the parties had worked out a tentative structure under which Western Digital would spin off its flash business and merge it with Kioxia, creating a public company in the United States. A Western Digital spokesman declined to comment on the deal talks.

Western Digital CEO David Gekeler said: "We look forward to working together to achieve our goal of creating value and delivering the best possible strategic results for our shareholders."

Rayman called Western Digital "a landmark U.S. business critical to the global digital infrastructure."

Western Digital is struggling with an industry glut that is eroding profits and revenues as consumers cut back on smartphone and computer purchases.

Samsung Electronics Co., one of the world's largest electronics and semiconductor makers, dominates the market.

18/04/2023

Teraco Data Environments Ltd., Africa's largest data center company, has raised $680 million to support its expansion and capacity-building plans, its chief financial officer, Samuel Erwin, said.

Just under half of the loan financing, led by South Africa-based lender Absa Group Ltd., will be used as capital to expand the company's solar capacity and data centers, Erwin said. The rest will be used to refinance current facilities located in Johannesburg, Cape Town and Durban.

"We've set a goal to produce half of our energy from clean sources by 2027 and all of it by 2035," Erwin said.

He added that to reach that goal, the company will build a solar farm capable of generating 100 megawatts of electricity and install solar panels on the roofs of its data centers.

South Africa has struggled with severe power outages in recent years, and many of the country's largest businesses have begun building facilities to generate their own power. Data centers tend to consume a lot of energy, and switching to renewable energy can help reduce operating costs while reducing emissions.

18/04/2023

Swiss online drug retailer Zur Rose has unexpectedly agreed to sell its Swiss business to Medbase, a subsidiary of Migros, to focus on expansion in Germany.

Revenue from the deal is estimated at CHF 360 million ($393.87 million).

According to preliminary figures released in January, Germany accounted for just over half of Zur Rose's revenue in 2022, while Switzerland accounted for about a third, with revenue up 9.5% year over year.

In 2022, Zur Rose shares lost 70% of their value due to delays in the introduction of electronic prescriptions in Germany.

Zur Rose said in a statement that the sale and subsequent concentration of its commercial operations will strengthen its position in the €50 billion pharmacy market in Germany and other European countries. The company said it sees "enormous potential in the rollout of electronic prescriptions in Germany."

The deal is expected to close in the second quarter of 2023, the firm said in a statement.

18/04/2023

Petroliam Nasional Bhd (Petronas) is completing its acquisition of the Australian renewable energy business of Germany's Wirsol, particularly solar farms and a major development project.

Petronas hopes to build a renewable energy business through its company Gentari, established last year, which aims to have 30-40 GW of renewable energy capacity by 2030, especially solar.

Wirsol, owned by Wircon GmbH, put its Australian renewable energy business up for sale last year after it abandoned plans to go public.

Wirsol operates solar farms and battery farms at seven sites with 746 MW of capacity, has a development project of about 700 MW and is the asset manager of 349 MW in the eastern states of Australia.

Petronas is already active in Australia through its stake in the Gladstone liquefied natural gas project, which is operated by Santos Ltd.

18/04/2023

The largest gold producer, U.S.-based Newmont Corp said it has made an offer to Australian rival Newcrest Mining to create a global gold giant.

The Australian gold miner said it is considering an all-stock offer.

Newcrest shares rose 14.4 percent to A$25.60 ($17.77), their highest level since May 2022, but remained below the estimated current offer price of $27.16, suggesting investors were not sure the deal would go through. The stock closed up 9.3 percent to A$24.53.

Newmont, which is already the world's largest gold producer by market capitalization and ounces produced, said it made a "powerful value proposition."

Newcrest's operations include the first-class Cadia asset in Australia, an expanding presence in North America and Papua New Guinea, and the potential for copper production growth.

Newmont's offer assumes a 21 percent premium to Newcrest's last closing price, significantly below the traditional 30 percent takeover premium, notes analyst John Mills of Morningstar, who values Newcrest at about A$31 per share.

Newcrest shareholders will receive 0.380 Newmont shares for each Newcrest share, giving them a 30 percent stake in the combined gold miner.

If investors don't support the deal, the board will be forced to raise Newcrest's value, possibly by spinning off assets such as Havieron and Telfer in Australia or Lihir in Papua New Guinea, said Barrenjoey analyst Dan Morgan.

18/04/2023

According to officials, as part of an incipient military alliance between Moscow and Tehran, a high-level Iranian delegation flew to russia in early January to visit the planned site for the plant and discuss the details needed to launch the project. Both countries are seeking a faster drone that could create new problems for Ukraine's air defense system.

In December, the White House warned that Moscow and Tehran were considering building a joint drone production line in Russia.

Now, according to officials linked to the United States, the talks have turned into concrete plans with a Jan. 5 visit by an Iranian delegation to the Russian city of Elabuga, about 600 miles east of Moscow. The delegation visited a vacant site where the two leaders plan to build a new factory that could produce at least 6,000 drones in the coming years.

Iran is working with Russia to develop a Shahed-136 model, which is expected to be equipped with a new engine that will allow it to fly faster and farther. The new factory will produce an improved drone. This could create new problems for Ukraine and other countries that could become targets for drones.

18/04/2023

Goldman Sachs Asset Management said it has launched a biomethane business called Verdalia Bioenergy and intends to invest more than €1 billion in Europe over the next four years.

Biomethane, a low-carbon alternative to natural gas based on fossil fuels, is produced by decomposing organic waste and is seen as a key element in reducing carbon emissions in the EU.

Around €80 billion of investment is needed to increase biogas and biomethane production in the EU tenfold to reach the goal of 370 TWh per year by 2030, accelerating decarbonization and improving energy security.

Verdalia Bioenergy will invest in both early-stage biomethane projects and existing assets to contribute to Europe's decarbonization and energy security program.

Verdalia Bioenergy has already signed an agreement to buy a portfolio of biomethane projects with a total capacity of about 150 (GWh/year) per year at the medium stage of development in Spain.

18/04/2023

A Credit Suisse press release indicates that Credit Suisse Group AG has acquired Klein Group LLC (MK&C).

According to Credit Suisse's strategy, the separation of CS First Boston from the company's structure aims to create an independent global capital markets advisory business headquartered in the United States and a preferred long-term partnership with Credit Suisse Group.

The creation of an independent CS First Boston is an important step in Credit Suisse's broader transformation and creation of a focused bank built around client needs.

To align interests in the transaction, M. Klein & Company LLC will receive a note convertible into CS First Boston stock and a warrant with the right to receive CS First Boston stock in an IPO or other stock offering to enhance liquidity.

Once the transaction is completed, MK&C will be fully integrated into CS First Boston. Credit Suisse will retain control of the CS First Boston structure, including future third-party capital raises.

The appointment of Michael Klein to the executive board of Credit Suisse and the acquisition of MK&C are subject to regulatory approval. The transaction is expected to close in the first half of 2023.

MK&C is an internationally recognized investment bank and broker-dealer with stable relationships with major clients, including top S&P 500 executives and leading companies worldwide. It is headquartered in New York City.

Credit Suisse is the second largest Swiss financial conglomerate after UBS. It is headquartered in Zurich, Switzerland. It has been among the global systemically important banks in asset management and investment banking since 2011. It is listed on the Swiss Stock Exchange and ADS in New York.

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