The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Lottie123 ref 16.44 post true but it would depend on how wide the term Energy Company is drawn if it is drawn to include companies in the supply chain then INFA could be caught. We need to wait for the section 3 statement. Also it would depend on if IslandMagee progresses further.
Understood Stokey but any potential buyer wanting the fabrication assets could strip out any defence or energy within the company. Currently, INFA has nothing which would qualify, no defence or ML.
Lottie123 Ref 21.29 post The reference in my 13.27 post to the possibility of a Block of any takeover of INFA on National Security grounds is based on the provisions of the National Security and Investment Act 2021 which can be found here https://www.legislation.gov.uk/ukpga/2021/25/contents. While previously Defence Contractors have been taken over this new Act, which has retrospective effect, would trigger a referral to the Secretary of State who may then Call In the transaction.
You will see from Section 5 that the trigger event relates to the acquisition of a controlling interest in both a company and an asset. Apart from strategic Defence Contractors which may or may not include INFA one of the other sectors which would trigger an automatic referral is energy. In view of the penalties in Part 3 of the Act and in particular the Civil sanctions under section 40 I suspect we will see a lot of voluntary referrals.
Are you serious? Referral of a two Bob company when billion pound defence companies are allowed to be bought by oversees companies...really mad thinking.
Lottie123 ref 07.13 post Having given this some thought I have doubts on such a proposition. The main issue is that INFA is not a fabrication company as such. While both Belfast and Appledore can be used for fabrication that is not their primary function. While an asset sale of the BiFab assets is possible this might attract a referral to the Secretary of State. Indeed a takeover of INFA may be blocked on National Security grounds.
Korean company CS Wind buys 60% stake in Portuguese Tower and foundation manufacturer ASM Industries. This could be the start of a global rush to acquire fabrication assets.