Dubai’s Majid Al Futtaim hires HSBC for sale of district cooling unit – sources

DUBAI (Reuters) – Dubai’s Majid Al Futtaim (MAF), which develops shopping malls across the Middle East, is putting its district cooling unit up for sale, four sources with knowledge of the matter told Reuters.

FILE PHOTO: A man walks past a sign at the Majid Al Futtaim headquarters in Dubai during the Reuters Consumer and Retail Summit September 11, 2012. REUTERS/Jumana ElHeloueh/File Photo

District cooling firms deliver chilled water via insulated pipes to cool offices, industrial and residential buildings.

MAF has hired HSBC to tender the deal, said the sources, declining to be named as the matter is not public.

MAF, which also operates the Middle East franchise of French retailer Carrefour CARR.PA, in a statement on Tuesday said it continually assesses its business portfolio to ensure it remains “fit for purpose and positioned for long term sustainable growth.’

“Accordingly, we explore new opportunities on a regular basis, carrying

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LSE Expected to Approve Borsa Sale to Euronext on Thursday: Sources | Investing News

MILAN (Reuters) – The board of the London Stock Exchange

is expected to approve on Thursday a binding offer by pan-European bourse operator Euronext

for the Milan stock exchange, three sources familiar with the matter said.

LSE entered exclusive talks with Euronext last month, after the Paris bourse owner saw off competition from Deutsche Boerse

and Swiss rival SIX for Borsa Italiana.

LSE is selling Borsa as part of regulatory remedies to see through its $27 billion purchase of data provider Refinitiv, which is 45% owned by Thomson Reuters
, the parent company of Reuters News.

The sale of Borsa, which is contingent on the Refinitiv deal going through, is politically sensitive in Italy due to Borsa’s ownership of MTS, the bond platform which handles trading of Italy’s 2.1 trillion euro ($2.5 trillion) government bonds.

To secure the backing of the Rome government, Euronext has teamed up with state agency

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Swiss watch parts maker Acrotec being readied for 2021 sale – sources

FRANKFURT/ZURICH (Reuters) – Acrotec, which makes components for watchmakers including Rolex and Patek Philippe, is being readied for a sale worth up to 950 million Swiss Francs (773 million pounds) including debt by its private equity owner Castik Capital, three people close to the matter said.

Although the Swiss watch industry saw demand collapse during the COVID-19 pandemic as stores around the world closed and Chinese tourists no longer flocked to shopping hubs like Paris, sales have since recovered.

As a result, the Swiss maker of oscillating weights, escapements and shock absorbers for luxury watches is expected to launch an auction early next year, the sources told Reuters.

Castik and Rothschild ROTH.PA, which is working with it on the planned sale, declined to comment.

Acrotec, which also makes medical implants as well as high precision components for the electronics, aerospace and automotive industries, has

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Swiss watch parts maker Acrotec being readied for 2021 sale: sources

FRANKFURT/ZURICH (Reuters) – Acrotec, which makes components for watchmakers including Rolex and Patek Philippe, is being readied for a sale worth up to 950 million Swiss Francs ($1 billion) including debt by its private equity owner Castik Capital, three people close to the matter said.

Although the Swiss watch industry saw demand collapse during the COVID-19 pandemic as stores around the world closed and Chinese tourists no longer flocked to shopping hubs like Paris, sales have since recovered.

As a result, the Swiss maker of oscillating weights, escapements and shock absorbers for luxury watches is expected to launch an auction early next year, the sources told Reuters.

Castik and Rothschild ROTH.PA, which is working with it on the planned sale, declined to comment.

Acrotec, which also makes medical implants as well as high precision components for the electronics, aerospace and automotive industries, has annual

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Swiss watch parts maker Acrotec being readied for 2021 sale -sources

By Arno Schuetze and Oliver Hirt

FRANKFURT/ZURICH, Oct 5 (Reuters)Acrotec, which makes components for watchmakers including Rolex and Patek Philippe, is being readied for a sale worth up to 950 million Swiss Francs ($1 billion) including debt by its private equity owner Castik Capital, three people close to the matter said.

Although the Swiss watch industry saw demand collapse during the COVID-19 pandemic as stores around the world closed and Chinese tourists no longer flocked to shopping hubs like Paris, sales have since recovered.

As a result, the Swiss maker of oscillating weights, escapements and shock absorbers for luxury watches is expected to launch an auction early next year, the sources told Reuters.

Castik and Rothschild ROTH.PA, which is working with it on the planned sale, declined to comment.

Acrotec, which also makes medical implants as well as high precision components for the electronics, aerospace and

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UPDATE 2-ProSieben puts online drugstore Windstar Medical up for sale – sources

(Adds further asset sale)

FRANKFURT, Sept 30 (Reuters) – German TV broadcaster ProSiebenSat.1 has put its online drugstore Windstar Medical up for sale as it streamlines its technology investments, people close to the matter said.

The profitable retailer of over-the-counter drugs could be valued at around 250 million euros ($293 million), including debt, in a potential deal, the people said.

Non-binding offers for the unit are due shortly, with mostly private equity groups expected to show interest in the start-up with some 100 employees, they said.

ProSieben said it announced in March 2020 it would examine all existing investments to see whether there are clear synergies with its core business, adding that it would assess in each case whether it is the best owner for individual companies.

ProSieben, under new management, is looking to raise money from asset sales after the reign of former CEO

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ProSieben puts online drugstore Windstar Medical up for sale – sources

By Arno Schuetze and Klaus Lauer

FRANKFURT, Sept 30 (Reuters)German TV broadcaster ProSiebenSat.1PSMGn.DE has put its online drugstore Windstar Medical up for sale as it streamlines its technology investments, people close to the matter said.

The profitable retailer of over-the-counter drugs could be valued at around 250 million euros ($293 million), including debt, in a potential deal, the people said.

Non-binding offers for the unit are due shortly with mostly private equity groups expected to show interest in the start-up with some 100 employees, they said.

ProSieben said it announced in March 2020 that it would examine all existing investments to see whether there are clear synergies with its core business, adding that it would assess in each case whether it is the best owner for individual companies.

ProSieben, under new management, is looking to raise money from asset sales after the reign of former CEO

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EXCLUSIVE-Reckitt kicks off sale of some personal care brands – sources

By Martinne Geller and Arno Schuetze

LONDON/FRANKFURT, Sept 28 (Reuters)Consumer goods group Reckitt Benckiser Group RB.L is preparing to sell some of its non-core personal care brands, including Veet hair removal cream and Clearasil acne cream, four sources familiar with the matter said on Monday.

The package of brands up for sale – which also includes E45 skin cream and Scholl foot products – could be worth as much as 1 billion pounds ($1.3 billion) in a sale, two of the sources said, based on estimates of annual earnings before interest, tax, depreciation and amortisation north of 120 million pounds.

The process comes as Reckitt is generating unusually strong sales in its hygiene business due to the COVID-19 pandemic, as people snap up its Lysol and Dettol disinfectants. It is also a strategic step for its new chief executive, Laxman Narasimhan, who has been in the top

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Exclusive: Reckitt Kicks off Sale of Some Personal Care Brands – Sources | Investing News

By Martinne Geller and Arno Schuetze

LONDON/FRANKFURT (Reuters) – Consumer goods group Reckitt Benckiser Group

is preparing to sell some of its non-core personal care brands, including Veet hair removal cream and Clearasil acne cream, four sources familiar with the matter said on Monday.

The package of brands up for sale – which also includes E45 skin cream and Scholl foot products – could be worth as much as 1 billion pounds ($1.3 billion) in a sale, two of the sources said, based on estimates of annual earnings before interest, tax, depreciation and amortisation north of 120 million pounds.

The process comes as Reckitt is generating unusually strong sales in its hygiene business due to the COVID-19 pandemic, as people snap up its Lysol and Dettol disinfectants. It is also a strategic step for its new chief executive, Laxman Narasimhan, who has been in the top job for one year.

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