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Tag: stake

Darktrace float to crystallise £20m stake for chief Gustafsson

Darktrace float to crystallise £20m stake for chief Gustafsson

Business
Cyber security company Darktrace will on Monday fire the starting gun on a £3bn London flotation - crystallising a stake worth tens of millions of pounds for its 38-year-old chief executive.Sky News has learnt that Darktrace's board plans to issue an expected "intention to float" announcement before the stock market opens on Monday morning. The listing will provide another acid test of investors' appetite to embrace technology company flotations in London, following the disastrous debut of Deliveroo, the food delivery app, earlier this month.Darktrace's float is likely to value the company at between £2.5bn and £3bn, with chief executive Poppy Gustafsson's shareholding likely to be valued in the region of £20m.The filing of its registration documents will mean that Darktrace's shares will ...
Volkswagen Finance acquires majority stake in digital lending platform KUWY

Volkswagen Finance acquires majority stake in digital lending platform KUWY

Finance
Mumbai: Volkswagen Finance India on Monday said that it has acquired a majority stake in automotive fintech company KUWY Technology for an undisclosed amount to leverage the latter’s network to grow its new and used car financing business. The Volkswagen Group’s financing arm had first bought a 25% equity stake in the latter in September 2019. KUWY Technology is an instant lending platform that digitally connects borrowers to lenders. “Our investment in KUWY is strategic in nature as we intend to make KUWY an important part of our India strategy. With this acquisition, we aim to enhance the synergies with KUWY Technology and make KUWY the face of Volkswagen Finance Private Limited (‘VWFPL’) in India for retail financing business,” Aashish Deshpande, managing director of VWFPL, said in a st...
McLaren sells big stake in F1 team to consortium in £560m deal

McLaren sells big stake in F1 team to consortium in £560m deal

Business
A consortium of US-based investors is close to buying a big stake in the McLaren Formula One (F1) team in a deal that will value the historic British racing outfit at more than £550m.Sky News can exclusively reveal that MSP Sports Capital, whose partners have had extensive involvement in Major League Baseball, American basketball and European football, is leading a group that will inject £185m into McLaren Racing over a two-year period. The deal could be announced as early as Sunday, according to sources, coinciding with McLaren's most important F1 race for years.The team's drivers - Lando Norris and Carlos Sainz - qualified for the Abu Dhabi Grand Prix in fourth and sixth places respectively, giving them the chance to clinch third place in the constructors' championship for the first time...

Here’s how worried you should be about your stake in Alibaba, now that the U.S. is going after Chinese stocks

Finance
President Donald Trump has a bill on his desk that could kick several Chinese companies off U.S. stock exchanges and inflame an already strained relationship between Washington and Beijing.The Holding Foreign Companies Accountable Act would force companies to give up their listings on Wall Street if they refuse to open their books to U.S. accounting regulators. It could also bar them from raising money from American investors.While the law technically applies to companies from any country, it is mainly targeting Chinese corporations."U.S. policy is letting China flout rules that American companies play by, and it's dangerous," said Sen. John Neely Kennedy, R-La., in a statement.Chinese Foreign Ministry spokeswoman Hua Chunying said at a news conference this week that the bill pol...
Aston Martin: Mercedes to take 20% stake in luxury brand

Aston Martin: Mercedes to take 20% stake in luxury brand

Business
Aston Martin's shares have crashed since the company was floated on the London stock market in 2018 at £19 each. By the time .css-yidnqd-InlineLink:link{color:#3F3F42;}.css-yidnqd-InlineLink:visited{color:#696969;}.css-yidnqd-InlineLink:link,.css-yidnqd-InlineLink:visited{font-weight:bolder;border-bottom:1px solid #BABABA;-webkit-text-decoration:none;text-decoration:none;}.css-yidnqd-InlineLink:link:hover,.css-yidnqd-InlineLink:visited:hover,.css-yidnqd-InlineLink:link:focus,.css-yidnqd-InlineLink:visited:focus{border-bottom-color:currentcolor;border-bottom-width:2px;color:#B80000;}@supports (text-underline-offset:0.25em){.css-yidnqd-InlineLink:link,.css-yidnqd-InlineLink:visited{border-bottom:none;-webkit-text-decoration:underline #BABABA;text-decoration:underline #BABABA;-webkit-text-dec...