Foreign Market: ABB Sells Unit To NKT Cables
ABB Sells Unit to NKT Cables in $934M Deal, Brian Blackstone, Sep. 21, 2016.
NKT cables agreed to buy Zurich – ABB at a value of 836 million euros ($934 million). NKT made the deal because the company wants ABB’s power grid units. The top shareholders of ABB want Zurich to spin …show more content…
The company entered India a decade ago as foreign investors were leaving. Other investors came in at the time as Blackstone, but made bad bets due to inflated values. Blackstone was eager to join the market, but waited until 2011 to receive property. Ever since 2011, Blackstone has bought 30 million square feet of space. India allows property portfolios to structure as a REIT, which has lower tax costs and usually higher dividends. Blackstone’s ability to obtain the space at a fraction of what it would cost in similar areas proves how structured and discipline the company is. Once the deal is finished, it will make investors plenty of profits and will generate a huge IPO to expand and invest in other countries.
Firm Leads Funding for Software Maker, David George-Cosh, Dec. 6, 2016.
Hubba Inc. has software that allows users to see marketing and product information. The Canadian technology startup was assisted with almost $45 million by Goldman Sachs. The opportunities of Hubba include a platform for companies to list products and to make sure the products listed are accurate. In 2015, Hubba had 10,000 companies on the website. Currently, Hubba has over 40,000 companies with over one million products. The funding from Goldman Sachs will provide Hubba to expand to other countries and increase the amount of companies on the website. It would not be surprising to see the products listed increase.
Financial Affiliate Expands in Europe, Liza Li, Dec. 6,