Sapan Gai, CCO at Sovereign Metals, discusses their superior graphite test results. Watch the video here.
https://www.space.com/boom-supersonic-rolls-royce-engine-split
https://www.fool.co.uk/2022/09/05/should-i-snap-up-rolls-royce-shares-while-they-are-still-below-1/
So This was the headlines at the beginning of July
"Bain Capital is set to complete its €1.7 billion acquisition of ITP Aero from Rolls-Royce within the next few weeks"
I have a suspicion that the deal has been pulled maybe and that is why share price is in free fall, not heard any news about ITP sale since. Was anticipating that they would have completed sale by end August.
The PNV puts pressure on the Government to get Indra to enter the capital of the Basque company that manufactures engines for the aeronautical industry ITP Aero , and thus close the operation agreed last year between the US fund Bain Capital and the British multinational Rolls-Royce .
In September 2021, Bain Capital agreed to purchase ITP from Rolls-Royce, in an operation valued at 1,700 million euros. The sale was signed with the forecast that it would materialize in the first half of 2022, pending the final permits and agreements, and that between 20% and 30% of ITP's capital would be in Spanish hands. .
At the moment, ITP's capital has been joined by the Basque arms company Sapa Placencia -also a shareholder of Indra, with 5%- and the investment bank JB Capital , controlled by Javier Botín .
According to sources in the sector familiar with the negotiations, the PNV wants Indra to be the Spanish company that completes the Spanish shareholding of ITP, and the Government of Pedro Sánchez has stated that this would be the case.
The latest events in Indra, with the departure of the independent directors who opposed the entry of the Spanish multinational in ITP, now brings closer the possibility that the wishes of the PNV materialize.
In any case, the sources consulted indicate, Bain Capital and Rolls-Royce consider closed the operation agreed in September of last year on ITP. "Indra will enter now or later, or perhaps it will finally be another Spanish company that takes a position in ITP," they comment.
Both Indra and ITP Aero are participating in the largest European defense project, the Future Combat Air System (FCAS) , the new combat aircraft that will replace the Eurofighters, with a planned investment of more than 100,000 million euros.
ITP's Defense business
ITP, with a workforce of close to 2,000 people , has already analyzed the financial situation of the company with the new shareholding composition, waiting for it to materialize soon.
In its 2021 accounts, consulted by this newspaper in the Mercantile Registry, the Basque company explains that, in the analysis carried out, "it is expected that the ITP business will not be significantly affected in the short/medium term, maintaining the activities /current locations of the Company, and it is also expected that the current business between ITP and Rolls TRoyce will continue».
The Basque company plans to maintain a "minimum cash of 50 million euros" that has been established for the management of the business, as well as a line of credit amounting to 100 million "which will be available in case of need."
In 2021 ITP reached a revenue figure of 609 million euros, 14.2% less than a year before, and a positive result of 68 million , compared to the 35 million profits achieved in 2020.
Last year , ITP 's Defense business unit recorded sales amounting to 196.3 million (200.9 million in 2020), representing 32.64% of the turnover . The Basque group highlights its participation last yea
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https://news.google.com/articles/CBMicWh0dHBzOi8vd3d3LnRlbGVncmFwaC5jby51ay9wb2xpdGljcy8yMDIxLzA2LzA5L3JldHVybi10cmFuc2F0bGFudGljLXRvdXJpc20tYm9yaXMtam9obnNvbi1qb2UtYmlkZW4td2lsbC1wbGVkZ2Uv0gF1aHR0cHM6Ly93d3cudGVsZWdyYXBoLmNvLnVrL3BvbGl0aWNzLzIwMjEvMDYvMDkvcmV0dXJuLXRyYW5zYXRsYW50aWMtdG91cmlzbS1ib3Jpcy1qb2huc29uLWpvZS1iaWRlbi13aWxsLXBsZWRnZS9hbXAv?hl=en-GB&gl=GB&ceid=GB%3Aen
https://www.google.co.uk/amp/s/www.bbc.co.uk/news/business-57084732.amp
https://www.marketwatch.com/investing/stock/rru?countrycode=de&iso=xfra
https://www.planetf1.com/news/aston-martin-possible-new-title-sponsor/
hi my apologies, i still cant figure out what i should have, i bought 57 shares @ £17.51 = £1011.77 inc charges and then a further 206 shares @ £0.30p = 62.02 total investment £1073.79 - after consolidation i have ended up with 14 shares and the cost is showing as £1766.65 - is this correct , as it doesn't seem right to me
hi sorry for this dumb question is the market not already open?