Hints and tips:
...It also signals a pullback from the global ambitions displayed when Natura purchased UK ethical retailer The Body Shop in 2017 from L’Oréal at an enterprise value of €1bn....
...Customers buy L’Oréal products in response to the pitch “because you’re worth it”. They need to be: the SkinCeuticals Vitamin C antioxidant serum is hardly a snip at £165 for 30ml....
...C Mortgages....
...UBS has hired three Barclays bankers in New York, according to a memo seen by DD: Marco Valla joins as global banking co-head (his predecessor Ros L’Esperance will launch a senior advisory group within the...
...As such, we see the CET1 ratio dropping below the interim target in 2024 (as a result of losses), but still above regulatory minima at c.12%....
...An early sign of trouble came with the vote on its merger with a Nasdaq-listed special purpose acquisition company, Alkuri Global....
...equity group L Catterton....
...Chief executive Pierre Jacques, who remains on De Bethune’s board with COO and master watchmaker Denis Flageollet, called the acquisition a strategic decision....
...Anyway, here are names and links — we’ll let you make your own mind up: Liquid 2 Venture Fund III L.P . . . . Lake Nona Fund / LN Sports & Health Tech Fund I, LP . . ....
...CVC Capital Partners, L Catterton and Ardian are among those on the watchlist for possible future listings....
...The RateSetter acquisition, which has been well-received by the market over the past 48 hours, will “cost” c.0.3%. The Income Statement makes for grim reading....
...L-f-l rents down 27%: net rental income fell down to just £87.3m which represents a l-f-l fall of 27% (excluding premium outlets), as a result of covid and the reduced rent collection rate....
...But for Mark Watson III it was, apparently, a place to do business....
...France L&S and Italy will not pay dividends this year, and XL Bermuda is unlikely to. The slack is only partly taken up by France P&C which is over distributing....
...(FT) News round-up Italian mafia bonds sold to global investors (FT) More than 100 potential suitors signal appetite for parts of Wirecard (FT) Solar giant Sunrun surges on deal to become a juggernaut...
...Management had previously guided to 4-5% for revenue from net new business and has raised this to around 5% to include c.30bp from a small acquisition in Germany (28 railways sites, £10m revenue)....
...It's good that you mention a decade, because I think to develop a business and being, if you like, a global leader in a certain commodity or business sector takes 10 years....
...White & Case has hired Iain MacVay from King & Spalding as a partner in its global international trade practice....
...Current company-compiled consensus expectations are for revenue decline of c.7% for FY20 and EBITDA decline of c.15% (i.e. revenues of £516m and EBITDA of £115m)....
...Acquired assets are expected to be c. $20m....
...Apart from negative l-f-l rental and value growth, we assume recapitalizations to an LTV of c.35% by 2021 lowering the EPS and NAV by c.49% and c.61%....
...We value Sumo based on a PE multiple of c.36x FY20E, a c.10-15% premium to the global peer group average (falling to 27x in FY21E)....
...This time it has named a former L’Oréal executive Sue Nabi as its boss from September. More here. Latham & Watkins has added Eric Schwartzman to its M&A and private equity practice in the Bay area....
..., Hipgnosis said on Wednesday that 82 per cent of its C-share issue had been used up but that included this acquisition so it’s impossible to back out the final value....
...The Sunday Telegraph has learnt Canary Wharf owner Brookfield, Apollo Global Management and KKR are among a slew of potential suitors for FirstStudent and FirstTransit....
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