| Zurich Market Talk - 12-12-2011 |
| 12.12.11 07:27 | |
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ABB to acquire Newave to broaden offering in uninterruptible power supply. ABB announces all-cash public tender offer of CHF 56 per Newave share, representing a total equity value of approximately CHF 170 million, to be unconditionally recommended by Newave’s Committee of independent members of the Board of Directors. Link: Click Here Schmolz + Bickenbach: Financing of EUR 1 175 million secured until May 2015. Existing bank financing successfully extended. Schmolz + Bickenbach has reached agreement with an international consortium of 17 banks for credit financing amounting in total to EUR 875 million running until May 2015. The bank financing for the amounts of EUR 825 million and USD 70 million that was due for repayment in December 2012 is thereby successfully replaced. Link: Click Here Swiss Re's Chief Executive Officer Stefan Lippe to retire in 2012. Swiss Re's Board of Directors announces that Stefan Lippe has decided to step down as Chief Executive Officer of Swiss Re in the course of 2012. A successor is planned to be appointed soon. Link: Click Here |
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