By Reuters Staff
3 Min Read
MILAN (Reuters) - Italy’s top insurer Generali is considering an acquisition in Russia worth about 2 billion euros ($2.4 billion), although the project is still at a very early stage, a source close to the situation said on Wednesday, confirming a press report.
FILE PHOTO: People walk past the headquarters of insurance company Generali in Budapest, Hungary, November 29, 2019. REUTERS/Tamas Kaszas
A plan presented by Chief Executive Philippe Donnet to the insurer’s investment committee listed as potential targets insurers VTB Insurance, Rosgosstrakh and RESO-Garantia, the source said.
The committee, which is chaired by Donnet and is composed of representatives of Generali’s major shareholders, expressed concerns about the country risk linked to Russia and asked for further details, the source added.
By Reuters Staff
2 Min Read
(Reuters) - Sun Country Airlines Holdings Inc, flush with cash after a successful stock market debut on Wednesday, could use the funds to accelerate the purchase of used jets and fuel its growth strategy over the next year, Chief Executive Jude Bricker told Reuters.
The U.S. low-cost carrier backed by private-equity firm Apollo Global Management Inc raised $218.2 million in its initial public offering and shares jumped around 44% in afternoon trading on the Nasdaq.
The debut comes as U.S. airlines begin to emerge from a pandemic-driven crisis that has created opportunities in the used jet market after airlines around the globe reduced their fleets or filed for bankruptcy.
By Reuters Staff
2 Min Read
(Reuters) - DoubleVerify Holdings Inc, a provider of software to track digital media engagement, on Wednesday filed with U.S. regulators to go public, hoping to cash in on investor optimism towards tech stocks.
The company, backed by investment firms Providence Equity Partners and Tiger Global Management, revealed a 33% surge in revenue for 2020. However, net income fell 12% in the year, it said in its filing.
DoubleVerify is betting on the high appetite for tech stocks during the pandemic which has seen investors flock to share sales of tech heavyweights like Coupang Inc and Roblox Corp.
Wizz Air's largest investor Indigo Partners sold about half its stake in the Hungary-based low cost airline to institutional investors, a statement on Tuesday said, raising gross proceeds of around 400 million pounds ($553 million).
By Reuters Staff
2 Min Read
(Reuters) - Bain Capital-owned Diversey Holdings Ltd, which provides cleaning and hygiene products, said on Tuesday it was aiming for a valuation of up to $6.38 billion in its initial public offering in the United States.
Diversey is seeking to raise up to $970 million in its IPO from selling about 46.2 million shares priced between $18 and $21 apiece, according to the company’s filing.
Bain had acquired Diversey in 2017 from Sealed Air Corp for about $3.2 billion. The Boston-based private equity firm later acquired UK-based Zenith Hygiene Group, which was then merged with Diversey.
Diversey provides sanitation products for sectors including food and beverage, healthcare, hospitality and retail.