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Stock Market & Financial Investment News

News Breaks
April 10, 2014
09:06 EDTBX, CXBlackstone reaches a financial closing for Ventika
Fisterra Energy, a company majority owned by funds managed by Blackstone (BX), and Blackstone Energy Partners, announced it has reached a financial closing for Ventika. Ventika will be located in the northeastern Mexican state of Nuevo Leon and is comprised of two 126 megawatt wind farms with total capacity of 252MW. Once completed the project will alleviate significant demands on Mexico’s existing power infrastructure, helping Mexico reduce pollution and CO2 emissions, and meet its target of achieving 35% renewable generation by 2025. The $650M project is being jointly developed by CEMEX (CX) and Fisterra Energy. This investment funds the installation of 84 Acciona AW-3000 wind turbine generators, each with a hub height of 120 meters and a nominal output of 3MW per turbine. Construction of the project, which is scheduled to be completed in FY16, is expected to generate approximately 1K jobs and more than 2K additional jobs in related industries.
News For BX;CX From The Last 14 Days
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October 30, 2014
06:18 EDTCXHolcim, Cemex to no longer form joint organization in Spain
Holcim (HCMLY) and Cemex (CX) announce that they have agreed on adapted parameters to their series of transactions in Europe. In Germany and the Czech Republic, the scope of the transaction remains unchanged, meaning that Holcim will acquire Cemex’s operations in Western Germany while Cemex will take over Holcim’s business in the Czech Republic, as previously announced. In Spain the two companies will no longer form a joint organization as initially planned and communicated. Instead, Cemex will purchase Holcim’s Gador cement plant and Yeles grinding station, with a total of 1.75M tonnes of cement capacity, while Holcim will keep its remaining operations in Spain, representing 2.2M tonnes of cement capacity, as well as its aggregates and ready-mix positions. In Germany, Holcim will continue the acquisitions of operations in the western part of the country. The transaction includes one cement plant, two grinding stations, one slag granulator, 22 aggregates locations and 79 ready-mix plants. They will be combined with Holcim’s existing Northern German operations. Due to the changed transaction, Cemex will pay Holcim EUR 45M in cash. As a result of these changes, Holcim expects sustainable additional operating EBITDA of at least EUR 10M on a yearly basis after the closing of the deal. This change of parameters reflects the change in the strategic landscape following the announcement of the proposed merger of Holcim with Lafarge. Hence Holcim and Cemex will remain competitors in Spain and Czech Republic. In Germany, Holcim aims to optimize its portfolio by better connecting its operations in Northern Germany and the wider region. These transactions are expected to close during 1Q15.
05:48 EDTCXCEMEX, Holcim agree on transactions in Europe
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October 29, 2014
09:23 EDTBXBlackstone to acquire Philadelphia Financial Group from Tiptree
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October 23, 2014
07:34 EDTCXCEMEX reports Q3 consolidated sales $4.1B, consensus $4.27B.
During Q3, controlling interest net income was a loss of $106M.
October 21, 2014
08:33 EDTBXBlackstone, Solops management team announce partnership
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