Three prominent French businessmen, including the telecoms billionaire Xavier Niel who own Eir, have joined forces to create a blank-cheque company that caters to the demand for organic food and more sustainable consumer goods.
<p class="no_name">They plan to raise €250 million-€300 million via a “special purpose acquisition company” that will be listed on the Euronext exchange in Paris.</p>
<p class="no_name">Mr Niel has teamed up with <a class="search" href="/topics/topics-7.1213540?article=true&tag_company=Centerview+Partners" rel="nofollow">Centerview Partners</a> banker <a class="search" href="/topics/topics-7.1213540?article=true&tag_person=Matthieu+Pigasse" rel="nofollow">Matthieu Pigasse</a>, although the sectoral expertise and strategic vision comes from their partner, <a class="search" href="/topics/topics-7.1213540?article=true&tag_person=Moez-Alexandre+Zouari" rel="nofollow">Moez-Alexandre Zouari</a>. The 49-year-old French entrepreneur has built a small empire in food retail as the franchise partner of supermarket chain <a class="search" href="/topics/topics-7.1213540?article=true&tag_company=Casino" rel="nofollow">Casino</a>, and also jointly owns frozen-food group <a class="search" href="/topics/topics-7.1213540?article=true&tag_company=Picard" rel="nofollow">Picard</a>. </p>
<p class="no_name">Their new shell company, or Spac, will be called <a class="search" href="/topics/topics-7.1213540?article=true&tag_company=2MX+Organic" rel="nofollow">2MX Organic</a> in a nod to its founders’ initials and their target market.</p>
<p class="no_name">Like other Spacs, it plans to raise cash from investors on the basis that managers will buy a company or return the money after a certain date if they are unable to complete a purchase.</p>
<p class="no_name">“We want to build a European champion in organic food,” said Mr Zouari in an interview. “People want to consume differently nowadays, not only for their health and wellbeing but for that of the planet.”</p>
<p class="no_name">The men have mapped out a strategy to consolidate Europe’s fast-growing but fragmented organic food market. They want to create a “vertically integrated” group, so would consider acquisitions both in retail and in the production of organic foods or sustainable household products.</p>
<p class="no_name"><a class="search" href="/topics/topics-7.1213540?article=true&tag_company=Deutsche+Bank" rel="nofollow">Deutsche Bank</a> and Société Générale will carry out the bookbuilding from Monday, with a target of selling 25 million shares for €10 each. The shares are expected to start trading by mid-December.</p>
<p class="no_name">The trio want to capitalise on the momentum among consumers and investors increasingly looking for companies built around environmental, social and governance (ESG) themes.</p>
<p class="no_name">“Our objective is to do the first acquisition as quickly as possible in 2021,” said Mr Pigasse. The first deal should be worth “around €2 billion” so as to serve as a platform for subsequent deals.</p>
<p class="no_name">“We have four or five targets in mind already, and want to be quite ambitious for the first acquisition,” said Mr Niel.</p>
<p class="no_name">Long a niche corner of finance, Spacs are one of the hottest trends on the US equity market because they offer a faster route to market without the cumbersome process of a traditional initial public offering. Hedge fund stars such as <a class="search" href="/topics/topics-7.1213540?article=true&tag_person=Bill+Ackman" rel="nofollow">Bill Ackman</a> and former banker <a class="search" href="/topics/topics-7.1213540?article=true&tag_person=Michael+Klein" rel="nofollow">Michael Klein</a> have adopted them, and banks reap lucrative fees from the transactions.</p>
<p class="no_name">Spacs have raised a record $64 billion in the US this year, according to Bloomberg, against $786 million in Europe.</p>
<p class="no_name">Mr Pigasse and Mr Niel created France’s first Spac in 2015 with the aim of consolidating the television production industry. Their company, <a class="search" href="/topics/topics-7.1213540?article=true&tag_company=Mediawan" rel="nofollow">Mediawan</a>, has since bought roughly 30 businesses to become a leader in scripted drama in Europe, highlighting how Spacs can be used to raise money quickly for dealmaking.</p>
<p class="no_name">The pair hope to repeat Mediawan’s experience in a new sector – consumer goods with a sustainable twist – by capitalising on Mr Zouari’s expertise. “He is the well-kept secret of French retail,” said Mr Niel.</p>
<p class="no_name">Mr Niel sought to distance the trio’s long-term approach from the get-rich-quick tactics used by some Spac sponsors in the US. At Mediawan, he and Mr Pigasse have not taken money out and have continued to back its expansion.</p>
<p class="no_name">“We are here to build up a real company that will operate and expand over time,” said Mr Niel of the new Spac.</p>
<p class="no_name">The three will buy at least €6 million worth of shares in a separate share sale reserved for them, and will collectively own roughly 30 per cent of the company after the listing.</p>
<p class="no_name">Mr Zouari said he would separately seek to buy up to €30 million worth of shares in the main rights offer, depending on availability. – Copyright The Financial Times Limited 2020</p>
New investment to improve road safety at 7,000 accident black spots across the country
Safety barriers, anti-skid surfaces, warning signs and markings in 11Greek regions
First EIB loan to Egnatia Odos S.A., providing 50% financing
The European Investment Bank has agreed to support a EUR 470 million nationwide programme to reduce death and injury caused by traffic accidents across Greece.
“Improving road safety across Greece is a national priority and the EIB a key partner to successful implementation of the National and Regional Road Safety Strategic Plan. The new EUR 235 million financial support agreed between the European Investment Bank and Egnatia Odos S.A. will reduce the risk of accidents in Greek cities, rural areas, mountain districts and on Greek islands. The close cooperation between Greek and EIB road experts during preparation of this project ensures that it will target the most dangerous sites on the national road network and allows best practice from Greece to strengthen future road investment by the EIB around the world” said Kostas Karamanlis, Greek Minister of Infrastructure and Transport.
Over the next three years, national road operator Egnatia Odos will improve road safety at 7,000 of the most dangerous sites, located across 11 regions of Greece. The small scale safety schemes will include installation of traffic barriers, provision of anti-skid surfaces and improved warning signs and markings on roads identified as high-risk.
The Project has benefitted from EIAH advisory services at its preparation phase through a preliminary economic analysis that derived the expected socio-economic benefits from road accidents reduction and proved the project to be technically and economically sound.
“This new financial and technical partnership between Egnatia Odos S.A. and the European Investment Bank will transform road safety across Greece and benefit road users for years to come. The EUR 235 million EIB loan, representing the first direct support for Egnatia Odos, demonstrates the EIB’s clear commitment to support road safety and back the National Road Safety Strategic Plan. The impact of this project will be strengthened following the technical cooperation between Greek and European road experts through the European Investment Advisory Hub and road safety best practice learnt from this project will be shared with similar schemes around the world” said Konstantinos Koutsoukos, chief executive officer of Egnatia Odos S.A.
First EIB loan to national road operator Egnatia Odos S.A.
The 15-year, EUR 235 million European Investment Bank loan, to be guaranteed by the Hellenic Republic, represents the first direct financing to Egnatia Odos. since the EIB first supported transport investment in Greece in 1963. The EIB loan will support half of the total EUR 470 million road safety investment under the programme.
“The European Investment Bank is committed to supporting transformational long-term transport investment in Greece. The EU Bank’s new EUR 235 million support to national road operator Egnatia Odos S.A. will help to reduce road accidents, fatalities and injuries across the country and improve the safety of road users for years to come. Over the next three years this project will implement best practice road safety measures in all regions of Greece. This project represents a milestone in the EIB’s 57 years of supporting road, rail, air and maritime transport investment in Greece” said Christian Kettel Thomsen, European Investment Bank Vice President responsible for Greece.
“I welcome the European Investment Bank’s first direct support for investment by Egnatia Odos S.A. that will be guaranteed by the Hellenic Republic. Long-term financing and technical expertise provided by the EIB that will strengthen the impact of this project and accelerate road safety investment across Greece. This project demonstrates how the EIB’s dedicated Investment Team for Greece and the European Investment Advisory Hub are working with Greek partners to support high-impact priority investment in Greece.” said Christos Staikouras, Greek Finance Minister and Governor of the European Investment Bank.
EIB supporting national and EU road safety goals
Improving road safety at 7,000 locations identified as the most dangerous accident black spots across the country will contribute to the Greek National Road Safety Strategic Plan and the European Union Strategic Action Plan on Road Safety.
Sharing technical expertise to improve road safety in Greece and around the world
There was a close cooperation between technical experts from Egnatia Odos S.A., the Greek Ministry of Infrastructure and Transport and the European Investment Advisory Hub during project preparation, to strengthen the road safety and economic impact of the EUR 470 million national investment programme. Lessons learnt from this scheme will benefit future EIB road investment around the world.
The European Investment Bank has agreed more than EUR 13 billion of long-term financing for road, rail, air and maritime transport investment across Greece since 1967. This includes support for the Athens Metro, airports in Athens, Thessaloniki and Heraklion, expansion of the Port of Piraeus and key national motorways.
By ANI
SHAHDOL: A man was booked and arrested under sections of the Madhya Pradesh Freedom of Religion Act, 1968 for allegedly pressuring his wife to “adapt to his culture, learn Urdu and Arabic languages”.
“A girl went away with Irshad Khan in 2018. A report was also filed with the police. Since the girl was an adult, the police took her statement. She stated she went with Irshad Khan of her own free will. Since they had established their relations like husband-wife so the girl said she will stay with Irshad,” Bharat Dubey, Sub-Divisional Officer of Police (SDOP), Dhanpur told reporters here.
“On November 27, she went back to her father’s home. Khan came to the police alleging that her wife has been forcefully confined there. Later the woman and her parents came to the police and complain that she will not stay with Khan as he used to torture him,” he added.
Dubey said that the woman, a Hindu, has lodged a complaint, stating that the man, Irshad Khan, harassed her and his family members and was allegedly pressurising her to adapt to their culture and learn Urdu and Arabic languages.
A case has been registered under 498 A and sections 3, 4, and 5 of the MP Religion Freedom Act 1968 against the person.
Madhya Pradesh Home Minister Narottam Mishra had recently announced that the state government will bring a bill against ‘love jihad’ in the next Assembly session that will have the provision of five years of rigorous imprisonment.
“One word ‘ Love Jihad’ is doing rounds. We are making preparations to introduce the Madhya Pradesh Freedom of Religion Bill, 2020 in Assembly. It will have provision for five years of rigorous imprisonment against those involved in forceful religious conversion and marriage by lure or fraud,” Mishra had said.
“We are also proposing that such crimes be declared a cognisable and non-bailable offence. There will be provision to declare marriages taking place forcefully, out of fraud or by tempting someone, for religious conversion, null and void,” he said.
According to the World Malaria Report, released on Monday, the situation is particularly concerning in high-burden countries in Africa.
The UN health agency urged nations and health partners to step up the fight against malaria, with better targeting of interventions, new tools and increased funding.
“It is time for leaders across Africa – and the world – to rise once again to the challenge of malaria, just as they did when they laid the foundation for the progress made since the beginning of this century,” saidWHO Director-General Tedros Adhanom Ghebreyesus.
“Through joint action, and a commitment to leaving no one behind, we can achieve our shared vision of a world free of malaria.”
Though preventable and curable, malaria continues to claim hundreds of thousands of lives each year. According to WHO, nearly half of the world’s population is at risk of the disease and most cases and deaths occur in sub-Saharan Africa.
Malaria is transmitted through the bites of female Anopheles mosquitoes and controlling the vector – such as by using mosquito nets and indoor residual spraying – can help prevent and reduce transmission of the disease.
The WHO report found that in 2019, malaria cases globally numbered about 229 million, an annual estimate that has remained virtually unchanged over the last four years. Last year, the disease claimed about 409,000 lives, compared to 411,000 in 2018.
As in past years, the African region accounted for more than 90 per cent of the overall disease burden. The region has made much progress since 2000, reducing its malaria death toll by 44 per cent – from an estimated 680,000 to 384,000 – but the pace has slowed in recent years, particularly in countries with a high disease burden.
A funding shortfall at both the international and domestic levels poses a “significant threat” to future gains, according to WHO. In 2019, total funding reached $3 billion, far short of the global target of $5.6 billion, resulting in critical gaps in access to proven malaria control tools.
UNICEF/Bagla
A worker sprays insecticide on the surfaces of a shelter to control the spread of mosquitoes. Vector control is highly effective in preventing malaria, and a vital component of strategies to control and eliminate the disease.
Sustain, expand programmes
In 2020, the COVID-19 pandemic emerged as an additional challenge for essential health services worldwide. Though most malaria prevention campaigns were able to move forward without major delays, WHO voiced concerns that even “moderate disruptions” in access to treatment could lead to a considerable loss of life.
For instance, a 10 per cent disruption in access to effective antimalarial treatment in sub-Saharan Africa could lead to 19,000 additional deaths, while disruptions of 25-50 per cent in the region could result in an additional 46,000 and 100,000 deaths, respectively.
According to WHO, ensuring access to malaria prevention, such as insecticide-treated nets and preventive medicines for children, also supported the response to COVID-19 by reducing the number of malaria infections and, in turn, easing the strain on health systems.
Matshidiso Moeti, WHO Regional Director for Africa, underlined the need to ensure that malaria programmes are sustained and expanded.
“COVID-19 threatens to further derail our efforts to overcome malaria, particularly treating people with the disease. Despite the devastating impact COVID-19 has had on African economies, international partners and countries need to do more to ensure that the resources are there to expand malaria programmes which are making such a difference in people’s lives,” she said.
The MarketWatch News Department was not involved in the creation of this content.
Nov 29, 2020 (MARKITWIRED via COMTEX) --
Future Market Insights offers a ten-year forecast for the global phycocyanin market between 2018 and 2028. The report also includes macroeconomic indicators along with an outlook on phycocyanin for the global market. The study demonstrates in-depth analysis of the key market dynamics, which are expected to influence the market performance in the long run. The report also comprises the study of current issues with consumers and opportunities for phycocyanin. The report also offers updates on recent trends, key drivers and restraints, volume and value forecasts, and various opportunities for manufacturers operating in the global and regional phycocyanin markets.
After an extensive study of the global phycocyanin market, it has been noted that food & beverages industry has highly influenced this market in the past, and is expected to account for a considerable demand for phycocyanin throughout the projected period of 10-years. We have observed that stringent standards by regulatory bodies across the globe has created a major impact on the global phycocyanin market. After examining this market thoroughly, our analysts have arrived at a conclusion that the key players operating in this market are focusing on enhancing production capacity and innovation in terms of various forms and nature that find its way in a plethora of different applications. According to the report, the market concentration of key players in the global phycocyanin market is increasing continuously, both on vertical as well as on horizontal levels. Producers of phycocyanin are entering into mergers and acquisitions in order to increase their production capacity.
In order to provide users of this report with a comprehensive view of the market, we have included detailed competition analysis of the key market players and strategic overview. The dashboard provides a detailed comparison of phycocyanin manufacturers on parameters such as total revenue, product offerings, and key strategy. The study encompasses market attractiveness analysis by nature, form, application, and region. The report includes phycocyanin market company profiles and the revenue generated from the companies across North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, Japan and the Middle East & Africa.
By region, Western Europe is expected to be the largest market. The phycocyanin market in Western Europe is estimated to reach US$ 78.3 Mn by the end of 2028. However, North America is also expected to reflect higher growth potential. The North America phycocyanin market is projected to grow at the highest pace to register a value CAGR of 8.4% throughout the period of forecast. This region is the second highest in terms of market value.
By nature, the conventional segment leads the market with a high revenue share. The organic segment is poised to register a higher CAGR of 8.6% in the said period.
By form, the powder segment is the most beneficial and highly accepted form of phycocyanin. The powder segment is expected to grow at the highest pace to reflect a 7.6% CAGR during the period of forecast and is estimated to reach a market value of a little under US$ 219 Mn by 2028 end.
By application, the food & beverages segment is the largest in terms of market value and is estimated to reflect a market valuation of more than US$ 190 Mn by the end of the period of assessment. The nutraceuticals segment in the application category is expected to grow at the fastest pace to register a value CAGR of 8.6% during 2018-2028.
Top-down approach has been used to estimate the phycocyanin market by countries. Global market numbers by source have been derived using the bottom-up approach, which is cumulative of each country’s demand. The market has been forecast based on constant currency rates.
A number of primary and secondary sources were consulted during the course of the study. Secondary sources include Factiva, and Hoover’s, and company annual reports and publications.
The report provides detailed competitive and company profiles of key participants operating in the global market. Some of the major companies operating in the global phycocyanin market are Chr. Hansen A/S, Sensient Technologies Corp, Parry Nutraceuticals Limited, Cyanotech Corp, DIC Corporation, GNC Holdings, Inc., DDW Inc., Now Health Group Inc., Parry Nutraceuticals Limited, Fraken Biochem Co., Ltd., Naturex S.A, Dohler GmbH and Far East Bio-Tec Co., Ltd. (ALGAPHARMA BIOTECH CORP) have been included.
In addition, it is imperative to note that in an ever-fluctuating global economy, we not only conduct forecasts in terms of CAGR but also analyze on the basis of key parameters such as year-on-year (Y-o-Y) growth to understand the predictability of the market and to identify the right opportunities.
Also, another key feature of this report is the analysis of all key segments in terms of absolute dollar. This is traditionally overlooked while forecasting the market. However, absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales and delivery perspective in the global phycocyanin market.
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
Contact
Mr. Abhishek Budholiya
Unit No: AU-01-H Gold Tower (AU), Plot No: JLT-PH1-I3A,
Is there a problem with this press release? Contact the source provider Comtex at [email protected]. You can also contact MarketWatch Customer Service via our Customer Center.
<p class="pr-disclaimer">
<em>The MarketWatch News Department was not involved in the creation of this content.</em>
For some, drinking is a religion – this is just taking it … explained that to become a religion, people need to be signed … on “how to practice the religion” despite already submitting the application … thought let’s start a religion!” the post read.
“Can’t …
