Fidest – Agenzia giornalistica/press agency

Quotidiano di informazione – Anno 33 n° 244

Posts Tagged ‘regulatory’

New Media Announces European Commission Regulatory Clearance for Merger with Gannett

Posted by fidest press agency su sabato, 26 ottobre 2019

New Media Investment Group Inc. (“New Media” or the “Company”) (NYSE: NEWM) announced today that the European Commission has provided regulatory clearance under the EU Merger Regulation for the transactions contemplated by the previously announced definitive agreement, dated August 5, 2019, pursuant to which New Media will acquire Gannett Co., Inc. (“Gannett”) (NYSE: GCI) for a combination of cash and stock (the “Merger”). This concludes all regulatory reviews of the Merger.
The completion of the Merger remains subject to other customary closing conditions, including receipt of approval from New Media stockholders and Gannett stockholders. The Merger is expected to close shortly following the New Media and Gannett special stockholder meetings, which are currently scheduled for November 14, 2019.

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Wholesum Trusts ReposiTrak to Ensure Regulatory Compliance

Posted by fidest press agency su venerdì, 30 novembre 2018

ReposiTrak, Inc., the industry leader in compliance, food safety and risk management for the retail supply chain, announces Wholesum is deploying the ReposiTrak Compliance & Risk Management Solution to automate compliance documentation at corporate, facility and item levels. Wholesum is committed to sustainably sourced certified organic produce, as well as fair-trade certified practices to empower their local communities. Based in Amado, Ariz., Wholesum operates three farms and partners with organic growers of tomatoes, cucumbers, eggplant, squash and peppers at operations that span from California to Central Mexico.
“We already hold ourselves to the highest standard of organic, sustainably sourced and fair-trade practices; however, we needed to ensure we are fully compliant,” said Ricardo Crisantes, Chief Commercial Officer for Wholesum. “Food safety from the farm to the table is our top priority. We want to ensure we are protecting our consumers, our product and our brand. Working with ReposiTrak, which has the largest network of retailers and suppliers who trust them, combined with their easy-to-use solution, proved to be the best choice for our compliance management needs.” The Compliance & Risk Management suite includes the food safety and compliance solutions that have become a respected and trusted cornerstone of the ReposiTrak brand. With 300,000 buyer/supplier connections across the platform and endorsements of leading trade groups such as FMI, ROFDA and GMDC, ReposiTrak has established itself as the industry standard.
“Wholesum’s retail clients trust them to provide the best produce items while they in turn trust ReposiTrak to ensure their business is protected from risk,” said Randy Fields, Chairman and CEO of ReposiTrak. “By optimizing their supply chain, their supplier compliance program is automated to safeguard the business and ultimately the end consumers through better food management, so they can focus on growing their business.”The ReposiTrak Speed Retail Platform drives growth and supports all supply and demand chain activities for retailers, manufacturers, and their trading partners, consisting of three product families; Compliance & Risk Management, Supply Chain Solutions, and MarketPlace Sourcing and B2B Commerce. Delivered via one technology platform, all the applications are mutually reinforcing and work synergistically to create value and positive impact across the entire enterprise.

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Regulatory Changes and Growth Set to Boost Reinsurers’ Share of Asia Risk

Posted by fidest press agency su venerdì, 9 novembre 2018

In this episode of A.M.BestTV, attendees at the annual Singapore International Reinsurance Conference (SIRC) said market growth, combined with regulatory changes that emphasize solvency standards, should raise the amount of insurance premiums collected in Asia that is ultimately ceded to reinsurers. Click on to view the entire program.The hot topic at this year conference in Singapore: how to increase reinsurance growth in Asia, which contributes less than 30% to the world’s insurance premiums and less than 15% to the entire reinsurance industry.“The ones that represent the most potential are the markets that show the biggest economic growth,” said William Ho, head of reinsurance, Asia, MS Amlin. “That is where the potential is and is why so many of us reinsurers and insurers are trying to grow in this region.”Jayne Plunkett, chief executive officer, reinsurance, Asia, Swiss Re, believes that China will be the area that will offer the most growth.“I think we will see most of the growth coming from China,” she said. “Part of that reason is because the regulator in China has a very disciplined and proactive approach about building the marketplace around liability, agriculture and health.”

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Portobello Capital’s and Vista Capital’s stakes in Maxam

Posted by fidest press agency su martedì, 13 settembre 2011

Edificio de la Bolsa de Madrid

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Madrid. Global private equity firm Advent International has today announced that it has entered into a definitive agreement to acquire shares representing 49.998% of MAXAM’s share capital, from Vista Capital and Portobello Capital. The remaining 50.002% of the company’s share capital continues to be controlled by MAXAM’s management team, led by its Chairman&CEO, José F. Sánchez-Junco. The transaction is subject to regulatory approval as MAXAM operates in a regulated market. The deal value has not been disclosed. MAXAM is the European leader and one of three global leaders in the civil explosives and initiation systems industry. The company is also active in the development, manufacturing and sale of mining services for mines, quarries and infrastructure around the globe; cartridges and gunpowder for sports ammunition; and products and services for the defence industry, in particular safe decommissioning of military explosives. The group comprises over 140 companies and has over 6,000 employees worldwide, with industrial facilities in more than 40 countries and sales in over 100 countries.
MAXAM’s origins date back to 1872, when Alfred Nobel founded Sociedad Española de Dinamita Privilegios A. Nobel in Bilbao. The business later merged with other leading Spanish explosives manufacturers to create Unión Española de Explosivos. Following several reorganisations and a rebranding, the company became MAXAM in 2006.
In 2010, MAXAM reported revenues of €888 million and EBITDA of €113 million. Between 2004 and 2010, the company recorded a compound annual growth rate of over 25%. In 2011, MAXAM will generate more than 60% of its revenues outside of Europe and North America.
Advent International will support the strategy developed by the MAXAM management team, as it pursues its national and international growth ambitions by expanding and strengthening its footprint in key markets, through both organic growth and selective acquisitions. Advent International was advised by N+1 (exclusive financial advisor), Uría y Menéndez and Clifford Chance (legal), Garrigues (tax), KPMG (financial and tax due diligence), Aon Gil y Carvajal (insurance) and Boston Consulting Group (industry and market analysis). The sellers have been advised by CMS Albiñana y Suárez de Lezo.
Founded in 1984, Advent International is one of the world’s leading global buyout firms, with offices in 17 countries on four continents. A driving force in international private equity for 27 years, Advent has built an unparalleled global platform of over 170 investment professionals across Western and Central Europe, North America, Latin America and Asia. The firm focuses on international buyouts, strategic repositioning opportunities and growth buyouts in five core sectors, working actively with management teams to drive revenue growth and earnings improvements in portfolio companies. Since inception, Advent has raised €19.4 billion in private equity capital and, through its buyout programmes, has completed over 270 transactions valued at over €40 billion in 35 countries.

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