Invest In EU News

  • Fiat SpA to spend €20 billion revamping its Italian operations

    Fiat SpA is to spend €20 billion in revamping its domestic Italian operations, said its Chief executive. Sergio Marchionne, Fiat SpA chief executive announced the firm’s plans after a meeting with Italian Prime Minister Silvio Berlusconi. Italian Industry Minister Paolo Romani said Fiat is keen on expanding its international operations but will maintain its thriving Italian presence as well.
    Marchionne was speaking after attending a meeting with members of Berlusconi’s administration. Fiat CEO and Chairman John Elkann was at the meeting as well.

  • European mid-market firm Cognetas puts three German businesses for sale as it looks to close a €1 billion fund

    European mid-market firm Cognetas has put three German businesses for sale as it seeks to close a €1 billion fund raised almost a decade ago, Reuters said. The firm is looking to sell aluminium auto parts maker KSM Castings, pond equipment firm Oase, and advertising and communications agency Commarco, the three remaining investments in its 2001 vintage fund.

  • Spain must abolish tax measures that subsidize domestic firms for foreign acquisitions, EU regulators say

    European Union regulators have warned Spain against its tax subsidies for Spanish firm’s involved in stake acquisitions outside of the EU. The EU regulators said the subsidies amount to unfair advantage. According to an EU communiqué, the tax provision amounts to a clear and unjustified advantage to the Spanish-based companies. Spain must recover aid granted through the tax measure since December 2007, the EU regulator said.

  • Italy's Cable manufacturer Prysmian SpA buys Dutch cable manufacturer Draka Holding

    The European Commission has approved under the EU Merger Regulation the proposed acquisition of the Dutch cable manufacturer Draka Holding by Italy's Prysmian SpA, another cable manufacturer. The Commission's investigation has shown that the merged entity will continue to face effective competition in the production of optical fibre cables and general wiring despite becoming the European leader in the markets concerned.

  • European Commission blocks proposed merger between Greek airlines

    The European Commission rejected a proposed merger between two Greek Airlines arguing the merger would create a quasi-monopoly. Greek air carriers Aegean Airlines SA and Olympic Air had proposed a tie-up that would have seen them merger their operations.

    However, the EU blocked the merger, saying it would have created a quasi-monopoly in parts of the country's air-transport market.

  • NYSE in merger plans with Germany’s Deutsche Boerse, move to create the largest trading powerhouse globally

    Deutsche Boerse is mulling a merger with the NYSE, a move expected to create the world’s largest trading exchange. The revelations came only hours after similar merger plans were announced between the London Stock Exchange and Canada’s stock market operator TMX. The deals sent shares in other exchanges soaring on speculation that further match-ups would follow.

  • Indorama Ventures Public Company Limited acquires 75% stake in Trevira GmbH based in Germany & Poland

    Indorama Ventures Public Company Limited is to acquire 75% stake of the Polyester Staple Fiber, Specialty Filament business of Trevira GmbH. Trevira GmbH runs operations in Germany and Poland. The remaining 25% stake will be held by Sinterama S.p.A., Italy, the Joint Venture Partner. The acquisition of the 100% shares in Trevira GmbH will be done through a new Joint Venture Company, Indorama said in a press release.

  • EU in strategy to develop the huge potential of the Danube River

    The European Commission has proposed a Strategy for the Danube Region, covering eight EU member States and six other European countries. This Strategy will focus on concrete priority action areas, such as the improvement of navigability, water quality, security cooperation and the opportunities for tourism. The strategy, according to the EU Commission, is to develop the huge economic potential of the Danube River.

  • Hamburger Hochbahn AG in a loan funding deal with European Investment Bank

    The European Investment Bank (EIB) and Hamburger Hochbahn AG signed a €160 million framework loan agreement for the acquisition of new trains and buses for the Hamburg transport operator. Hamburger Hochbahn AG will use the funding to renew and expand its fleet of trains and buses.

    Under the framework, the funding will include plans in the medium term for investment in new rolling stock for the metro and in standard and articulated buses for Hamburg’s local transport network.

  • EU launches trillion euro energy revamp, effort to cut dependency on Middle East Oil and Russian Gas

    During its recent summit, the EU outlined plans aimed at curbing the region’s dependency on Middle East oil and Russian gas. In a report carried by the AFP, European leaders Friday last week launched a trillion-euro effort, primarily targeted at reducing the EU’s overreliance on Oil from the Middle East and Russian gas imports.

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