Graanul released its FY24 annual report yesterday but most of the numbers were already in its non-deal roadshow presentation in February. Despite
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OHLA has denied having a cash crisis. This makes more sense to us, given the liquidity available to the company at the time o
Read MoreThe price drops at ASDA are impacting the top line, but volumes will take time to rise. The figures are likely to be similar over the next
Read MorePress reports indicate that Brookfield is seeking to reinitiate discussions with the Grifols family about taking the Company private. As a reminder, Grifols board turned
Read MoreIf OHLA is out of cash, then how has this happened? The December restructuring left the company with nearly €100m in cash, so something is very
Read MoreThe auditors will want clarity on the future before agreeing to the Going Concern wording. With progress on the restructuring,
Read MoreIt is not surprising that an IT project of this size has overrun and cost more than expected. The issues have contributed to the unavailability of
Read MoreYew Tree is contemplating taking its stake in AML as high as 35%, which would require approval from the rest of the shareholders not to seek a
Read MoreThe restructuring proposal already has 78% support from bondholders, so a successful counterproposal is unlikely; the existing equity will
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The FY results were in line with our forecast. Property write-downs were 1.8% in FY 24, but the picture differed across the various portfolios. Office valuations
Read MoreThe company has signed the investment partnership agreement with Cerberus. This is the framework agreement that was underlying the turnaround plan
Read MoreThe tweaked proposal tilts the table more towards the providers of new capital (the Super SSN and equity raise). With 68% of the SSN holders already locked in, the
Read MoreRaising an additional £125m in cash will plug any hole in Aston’s liquidity before it emerges. The sale of the minority stake in the
Read MoreThe support for the restructuring is forthcoming, surpassing 91% according to a press release, allowing the
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Rekeep posted its Q4 and FY24 numbers on Friday, most of which were released as part of the refinancing in February. Takeaways from the call include
Read MoreGrifols has applied to the German Federal Financial Supervisory Authority to squeeze out the minority shareholders in its
Read MoreThat KKR’s terms are acceptable to the Class A is somewhat beyond doubt, since there would be no point in going through the motions if they
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The inability to pass on higher wage costs and client losses in France were headwinds in 2024. Revenue was in line with reduced guidance, but EBITDA was
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The call yesterday was as long as they usually are at Emeria, although the company’s policy to issue the financial report only a month later felt a little
Read MoreThe presence of Allan Leighton, who is stamping his plan on ASDA, will reduce the role of chief customer officer. Allan Leighton's importance to ASDA is
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