Ofwat has agreed to postpone the referral of the price review decision to the CMA until October 22nd. According to the regulator, the three
Read MoreAtos released its H1 liquidity position as required by various credit agreements. Cash and liquidity have deteriorated by €374 million but
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Technology Revenues of £277m were ahead of our expectations, and this is reflected in EBITDA of £73m vs our forecast of £51m (excluding Ocado Retail). Capex of
Read MoreSES has completed its acquisition of Intelsat after receiving FCC approval earlier this week. Our model already included a pro forma
Read MoreMoody’s downgrade to Caa1 is deserved, even if the company has already hired Alix partners and is trimming its management layers. These actions are
Read MoreThe tender price of 107.75 is nearly 2 points above the offer price for the 7% May/2029 SUNs over the last couple of weeks, and we would expect
Read MoreThe tender offer (at par) for the 2027 bonds has been successful, with €345m of the €400m outstanding tendering. We expect the
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The new Idea Pitch videos are now available.
You can find them on the Sarria website landing page as well as on each individual company’s dedicated page.
We previously wrote that the company and creditors are the closely alligned in the negotiations. They are united by a common command of
Read MoreThe letter from the union is just a warning shot, and previous GMB strikes have been small, creating only minor
Read MoreThe tone of the release suggests that staff are hiding in store rooms, and the new policy will speed up shelf restocking. The move will not
Read MoreThe Dutch auction that forms part of the restructuring has been slightly upsized to €194m and is now concluded,
Read MorePlease note that the Branicks email sent on 10th July was incorrectly labelled as a model update. The analysis remains unchanged.
Apologies for any confusion caused.
Read MoreWe have addressed many of the same points in the Moody's release in our recent investment memo. We expect the pricing
Read MoreOHLA clearing itself of any corporate governance wrongdoing is no surprise. The release highlights that the additional information
Read MoreAll turnaround plans require the removal of a layer of management. ASDA wants to see clearer decision-making at the
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The new Idea Pitch videos are now available: Amara NZero, Emeria, Kem One and Rekeep.
You can find them on the Sarria website landing page as well as on each individual company’s dedicated page.