All articles tagged with #stake acquisition
Air France-KLM plans to increase its stake in Scandinavian Airlines (SAS) from 19.9% to 60.5%, aiming to fully integrate SAS into its group by 2026, driven by SAS's improved performance and strategic restructuring, with regulatory approval expected to be a key step.
Members of the Koch family, including Julia Koch and her son David Jr., are reportedly in talks to acquire a 10% stake in the Brooklyn Nets, with an estimated team value of $3.98 billion. The negotiations involve the Tsai family, who currently control the team, and could potentially involve the Koch family investment vehicle, 1888 Management, and Blue Pool Capital. Julia Koch, the widow of David Koch, is the second richest woman in the world with an estimated net worth of $69 billion. The Koch family fortune is derived from Koch Industries, and they have been the single largest contributors to conservative causes since 1980.
Saudi Arabia's sovereign wealth fund, the Public Investment Fund (PIF), and French private equity firm Ardian are set to acquire a 25% stake in Heathrow airport for £2.4bn. The deal will make PIF the third-largest investor in the airport, while Ardian will become the fourth-largest. The acquisition comes as the airport faces financial challenges due to the COVID-19 pandemic and aims to strengthen its position for future growth.
Paytm founder Vijay Shekhar Sharma has acquired a 10.30% stake in the Indian financial services firm from Ant Financial, in a deal worth $628 million. The move is seen as an effort to reduce Paytm's exposure to the Chinese company. Sharma's stake in Paytm will increase to 19.42%, while Ant Financial's shareholding will decrease to 13.5%. The deal is being executed off-market, with no cash payment involved. Paytm's stock rose over 6.5% on the news.
Berkshire Hathaway's utility and energy division has acquired a 50% stake in the Cove Point liquefied natural gas facility in Maryland for $3 billion, demonstrating the company's confidence in the future of fossil fuels.
Berkshire Hathaway, led by Warren Buffett, has increased its stake in Occidental Petroleum to over 25%, acquiring 2.14 million shares for approximately $122.1 million. This follows a previous purchase of 4.66 million shares in May. Berkshire also holds about $9.5 billion of Occidental preferred stock and warrants to buy an additional $5 billion of Occidental shares. Despite the increased stake, Buffett stated that Berkshire has no plans to acquire control of the company.