Latest news with #stakeSale
Reuters
4 days ago
- Business
- Reuters
IndiGo's top shareholder denies reports of stake sale
June 16 (Reuters) - Indian airline IndiGo's ( opens new tab top shareholder InterGlobe Enterprises said on Monday that media reports on a stake sale in the carrier "have no factual basis". News channel CNBC-TV18, on Friday, reported that InterGlobe Enterprises will sell a 4% stake in IndiGo through block deals and is looking to raise around $1 billion from the sale. InterGlobe Enterprises denied the report and added that it remains committed to overseeing IndiGo's long-tem plans.
Bloomberg
13-06-2025
- Business
- Bloomberg
Banca Akros Says Monte Paschi Stake Sale Was in Full Compliance
By and Sonia Sirletti Save Banco BPM SpA 's unit Banca Akros said it fully complied with the law and best practices as coordinator for the sale of an Italian government stake in Banca Monte dei Paschi di Siena SpA in November. Akros was responding to Italian media reports earlier Friday, including by Corriere della Sera, that prosecutors in Milan were looking into the finance ministry's sale of a 15% stake to a group of investors through an accelerated bookbuilding procedure.
Reuters
13-06-2025
- Business
- Reuters
Italian prosecutors probe government sale of Monte dei Paschi stake, sources say
MILAN, June 13 (Reuters) - Italian prosecutors are looking into the government's sale of a 15% stake in Monte dei Paschi di Siena ( opens new tab last November to a small group of investors, and had police fetch documents relating to the transaction, two sources with knowledge of the matter said. The economy ministry sold the stake through an accelerated bookbuilding (ABB) procedure. The sources did not provide details on what part of the process is being probed. The Treasury was looking to build a stable core of domestic shareholders in Monte dei Paschi, which it rescued in 2017 and had been returning to private hands, sources told Reuters before the November stake sale. Banco BPM took a 5% stake, fund manager Anima Holding took 3% and construction tycoon Francesco Gaetano Caltagirone and the holding company of late Ray-Ban owner Leonardo Del Vecchio each took 3.5% of the Tuscan bank. The ABB process was handled by Banca Akros, the investment banking unit of Banco BPM. Banco BPM, Banca Akros and Delfin were not immediately available for a comment. A representative Caltagirone declined to comment. The sale was carried out at a premium to market prices, which was good for taxpayers, despite the fact that fewer investors than normal were involved in the process. Usually such placements involve more bidders but offer a discount. Previous placements of Monte dei Paschi shares by the Treasury had brought onboard dozens of foreign funds as investors. Since the November placement, Caltagirone and Delfin have increased their respective stakes becoming the top two shareholders in Monte dei Paschi. Italian banking is seeing a raft of takeover offers, causing upheaval in the sector. Italy's second-biggest bank UniCredit ( opens new tab has bid to buy smaller rival Banco BPM, meeting opposition from the government. Banco BPM has bought Anima. Monte dei Paschi has bid for Mediobanca ( opens new tab which in turn has bid for private bank Banca Generali ( opens new tab. ($1 = 0.8671 euros)
Entrepreneur
12-06-2025
- Business
- Entrepreneur
Rekha Jhunjhunwala Trims Stake in Nazara Technologies, Offloads Shares Worth Nearly INR 380 Crore
The most substantial chunk—17.38 lakh shares, or 1.98 percent of the company's equity—was sold between June 2 and June 6. This initial tranche was valued at over INR 218 crore You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Rekha Jhunjhunwala, executor of the estate of the late investor Rakesh Jhunjhunwala, has significantly pared down her stake in gaming firm Nazara Technologies this month, offloading nearly 2.5 per cent of the company's equity in a series of open market transactions. Between June 2 and June 10, Rekha Jhunjhunwala sold a total of 29.75 lakh shares in the company. The average price during this period hovered around INR 1,256 per share, pegging the cumulative transaction value at approximately INR 379.6 crore. The stake sale has brought her holding down to 3.7 per cent from 7.1 per cent at the end of the March quarter. The most substantial chunk—17.38 lakh shares, or 1.98 percent of the company's equity—was sold between June 2 and June 6. This initial tranche was valued at over INR 218 crore. On June 6 alone, 4.3 lakh shares, or another 0.5 percent, were disposed of, as per exchange filings. A further 12.4 lakh shares were sold between June 9 and 10, completing the exit sequence. Shares of Nazara Technologies responded with resilience. As of June 11, the stock closed over one per cent higher at INR 1,282 per share, and on June 12, it ended the session up 0.5 per cent at INR 1,273.85 on the BSE. Over the past month, the stock has gained nearly 10 per cent, and it is up more than 27 per cent in the last six months. In a filing with the exchanges, the company confirmed that the estate of the late Rakesh Jhunjhunwala had cumulatively sold and gifted 17.2 lakh shares, or about 2 percent of the equity, between March 30, 2021 and June 5, 2025. "On June 6, 2025 they sold further 4.3 lakh shares or 0.5 per cent, thereby resulting in total change of 2.5 per cent since the last disclosure made on March 30, 2021," the filing stated. Rakesh Jhunjhunwala had originally acquired a 10.8 per cent stake—amounting to 33.9 lakh shares—in Nazara Technologies on March 25, 2021. It remained his only investment in a new-age tech company, setting it apart from his portfolio of legacy and financial sector heavyweights like Titan, Tata Communications, and Star Health.
Bloomberg
09-06-2025
- Business
- Bloomberg
GFL Is Said to Consider Sale of Stake in C$5 Billion Infra Arm
GFL Environmental Inc. is considering the sale of a stake in its infrastructure arm, people with knowledge of the matter said, in what could be one of Canada's largest infrastructure deals this year. The company is seeking a valuation of as much as C$5 billion ($3.7 billion) including debt for the affiliate, known as Green Infrastructure Partners Inc., the people said. The stake sale is attracting initial interest from potential investors including General Atlantic, Energy Capital Partners and Neuberger Berman, the people said.
