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Valorem to Get €200 Million From AIP, Credit Agricole fort Renewables as 3i Exits

LivemintLivemint · 9m ago
Valorem to Get €200 Million From AIP, Credit Agricole fort Renewables as 3i Exits
Medial

- French wind-farm developer Valorem SAS is set to raise €200 million ($219 million) for future projects from AIP Management P/S and Credit Agricole SA. - Valorem's founders, families, and employees will retain the majority of the company's capital and voting rights. - 3i Infrastructure Plc plans to sell its 33% stake in Valorem to AIP and other investors, with UK-based 3i expected to receive around €309 million from the sale. - The deals reflect continued investor interest in financing renewable energy projects despite recent political uncertainty in France and the European Union. - The fundraising will be used to finance solar and wind farm construction in France in the short term, and in countries like Poland, Finland, and Greece around 2027 and 2028. - The transactions are expected to be completed in the first quarter with the assistance of Astris Finance, BNP Paribas, and Lazard as financial advisors to Valorem.

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Red Fort Capital bags Rs 22.6 Cr in debt from major PSU banks

EntrackrEntrackr · 9m ago
Red Fort Capital bags Rs 22.6 Cr in debt from major PSU banks
Medial

Red Fort Capital, an investment-grade NBFC, has successfully raised Rs 22.6 crore in debt funding, crossing a milestone of Rs 100 crore in assets. The debt raise includes Rs 15 crore from a large Public Sector Undertaking (PSU) bank. Notably, Red Fort Capital has already secured prior financing rounds from the State Bank of India, the largest PSU lender. Additionally, Rs 4.1 crore was raised through non-convertible debentures (NCDs) via Foreign Portfolio Investors (FPI), and Rs 3.5 crore from USHA Finance. This diverse capital will be instrumental in accelerating Red Fort Capital’s mission to bridge the credit gap for small and medium enterprises (SMEs) across India. Red Fort Capital offers secured loans tailored uniquely for businesses with flexible funding options ranging from Rs 1 crore to Rs 10 crore and a turnaround time of just 7 days. Red Fort Capital has already established a nationwide presence and aims to enhance its secured business loan offerings across manufacturing, trading, and service sectors with this new infusion of funds. By maintaining its focus on innovation, technology, and risk management, Red Fort Capital is positioned to attract even more banking partnerships, which are critical for its future growth.

FOCUS-UniCredit’s Orcel was plotting bid before Banco BPM forced hand, sources say

LivemintLivemint · 7m ago
FOCUS-UniCredit’s Orcel was plotting bid before Banco BPM forced hand, sources say
Medial

UniCredit CEO Andrea Orcel had been planning a takeover of Banco BPM for years but was forced to rush a bid due to BPM's own M&A moves. Orcel's dealmaking reputation is now on the line as BPM's shares surged following its announcement of bids for Anima Holding and acquiring a stake in Monte dei Paschi di Siena (MPS), raising the possibility of a BPM-MPS tie-up. Orcel had long desired BPM's position in Lombardy, but had hesitated due to the premium in its shares. UniCredit's bid, offering a 15% premium, has been deemed undervalued by BPM, leading to a price demand increase from the market. Orcel indicated the possibility of offering cash to BPM shareholders and engaging with 'industrial' investors, starting with Credit Agricole. However, Italian conservative government members oppose Orcel's proposal as it derails plans for a BPM-MPS merger, which could create a strong rival to UniCredit and Intesa Sanpaolo. Credit Agricole, the largest shareholder of BPM, has strengthened its position and has informal approval from the Italian government. UniCredit's spokesperson cautioned BPM investors against Credit Agricole's strategy in Italy and a BPM-MPS merger, and BPM is examining its options within the limits of Italian takeover rules. Orcel has approximately €6.5 billion in excess cash and can present various options to convince BPM shareholders that merging with UniCredit is in their best interest. However, time constraints and possible delays in securing investment screening approvals by the government could work against UniCredit.

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