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Share Name Share Symbol Market Type Share ISIN Share Description
Energiser Investments Plc LSE:ENGI London Ordinary Share GB00B06CZD75 ORD 0.1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 0.65 0.60 0.70 - 0.00 00:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments 0.0 -0.1 -0.1 - 0

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DateSubjectAuthorDiscuss
04/10/2020
08:00
Https://newseu.cgtn.com/news/2020-10-03/Oil-industry-looks-to-green-energy-in-new-coronavirus-world-UgsvQf8uIM/index.html

There is disagreement as to how long it will take for oil to recover and whether it ever will. The lockdowns and other restrictions may have changed patterns of behaviour for the foreseeable future, although we will only know once we're on the other side of the pandemic. Energy companies, it would appear, are not waiting to find out.

Professor Paul Stevens, from the UK's Chatham House, spoke to CGTN about the situation.

adrian j boris
02/10/2020
16:23
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waldron
02/10/2020
06:59
thenational.ae


Engie given more time to weigh up $4bn offer for Suez stake

Suez has opposed Veolia's proposal and backed an alternative approach from private equity firm Ardian SAS

A sign above Veolia's headquarters in Paris. The company has bid $4bn to buy a stake in Suez from Engie. Engie has been given longer to consider the offer and has received interest from rival bidders. Bloomberg
A sign above Veolia's headquarters in Paris. The company has bid $4bn to buy a stake in Suez from Engie. Engie has been given longer to consider the offer and has received interest from rival bidders. Bloomberg

Engie pushed back the deadline for accepting Veolia's €3.4 billion ($4bn) bid for most of its stake in Suez, though there was little sign the delay would ease the tensions between the French corporate giants.

The extension to October 5 gives Veolia extra time to formalise talks with Suez, potentially allowing for a friendlier acquisition. But Suez has shown scant inclination to engage in discussions, saying on Thursday it backed an alternative approach from private equity firm Ardian SAS – one that Engie has already brushed aside.

The wrangling over the sale of the 29.9 per cent stake – and eventual planned takeover – has continued for a month, with Veolia pushing to create a waste and water utility with more than €40bn in sales, while Suez has done all it can to thwart the proposal. The French government, which holds 24 per cent of Engie, has appealed for calm as it seeks to avoid an acrimonious acquisition battle between two of the nation’s largest companies.


Veolia on Wednesday raised its bid by 16 per cent and offered employment guarantees in an effort to persuade Engie to sell the Suez shares. Engie’s board said the new price was in line with expectations, but it was still unwilling to go through with the deal.

“There is room for discussion,” Engie chairman Jean-Pierre Clamadieu told reporters late on Wednesday. “We wish that both parties take the opportunity of this period to talk so that conditions of a friendly offer be met.”

Suez has fought hard to rebuff the approach. Last week it sought to frustrate Veolia’s plans by creating a so-called poison pill, making antitrust issues more complicated for its suitor. The utility has also attempted to assemble a competing offer for Engie’s stake.

Ardian said on Thursday it had sent Engie a letter of intent to buy the Suez shares, and planned to put together a group of public and private investors – mostly French – to submit a friendly takeover offer. While Suez’s board supported the move, Mr Clamadieu said that Engie had received only a vague expression of interest, which lacked a price, details of the bidders or their funding. The time for considering rival offers has passed, he said.

Veolia said on Wednesday it would make a tender offer for the remainder of Suez’s shares if Engie accepted its bid, but only on a friendly basis. The company proposed a period of six months for negotiations between the two sides to reach an agreement. If talks fail after that time, Veolia would present its offer direct to all shareholders, chief executive Antoine Frerot said.

Updated: October 1, 2020 09:36 PM

grupo
01/10/2020
19:48
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3h ago

Engie Pushes Back Deadline for Sale of Suez Stake to Veolia

Francois de Beaupuy, Bloomberg News

An Engie SA logo sits on display at the French energy giant’s Crigen gas, new energy and emerging technology research and development center in Stains, France, on Tuesday, Sept. 22, 2020. Veolia Environnement SA last month offered to buy 29.9% of Suez SA from French utility Engie for 2.9 billion euros ($3.4 billion), the first step to taking full control. Photographer: Cyril Marcilhacy/Bloomberg

An Engie SA logo sits on display at the French energy giant’s Crigen gas, new energy and emerging technology research and development center in Stains, France, on Tuesday, Sept. 22, 2020. Veolia Environnement SA last month offered to buy 29.9% of Suez SA from French utility Engie for 2.9 billion euros ($3.4 billion), the first step to taking full control. Photographer: Cyril Marcilhacy/Bloomberg , Bloomberg

(Bloomberg) -- Engie SA pushed back the deadline for accepting Veolia Environnement SA’s 3.4 billion-euro ($4 billion) bid for most of its stake in Suez SA, though there were limited signs the delay would ease the tensions between the French corporate giants.

The extension to Oct. 5 gives Veolia extra time to formalize talks with Suez, potentially allowing for a smoother acquisition. But Suez has shown scant inclination to engage in discussions, saying Thursday it backed an alternative approach from private equity firm Ardian SAS -- one that Engie has already brushed aside.

Suez Chairman Philippe Varin will talk with Veolia to get clarification on its project, which has “real flaws,” he said in an interview with Agence France-Presse Thursday. Ardian’s plan “will rapidly progress and reach maturity,” though getting a firm commitment in five days “would be a very ambitious target,” he told AFP.

The wrangling over the sale of the 29.9% stake -- and eventual planned takeover -- has continued for a month. Veolia is pushing to create a waste and water utility with more than 40 billion euros in sales, while Suez has done all it can to thwart the proposal. The French government, which holds 24% of Engie, has appealed for calm as it seeks to avoid an acrimonious acquisition battle between two of the nation’s largest companies.

Veolia on Wednesday raised its bid by 16% and offered employment guarantees in an effort to persuade Engie to sell the Suez shares. Engie’s board said the new price was in line with expectations, but it was still unwilling to go through with the deal.

“There is room for discussion,” Engie Chairman Jean-Pierre Clamadieu told reporters late on Wednesday. “We wish that both parties take the opportunity of this period to talk so that conditions of a friendly offer be met.”

Suez has fought hard to rebuff the approach. Last week it sought to frustrate Veolia’s plans by creating a so-called poison pill, making antitrust issues more complicated for its suitor. The utility has also attempted to assemble a competing offer for Engie’s stake.

Ardian Approach

Ardian said Thursday it had sent Engie a letter of intent to buy the Suez shares, and planned to put together a group of public and private investors -- mostly French -- to submit a friendly takeover offer.

While Suez’s board supported the move, Clamadieu said that Engie had received only a vague expression of interest, which lacked a price, details of the bidders or their funding. The time for considering rival offers has passed, he said.

Veolia said Wednesday it would make a tender offer for the remainder of Suez’s shares if Engie accepted its bid, but only on a friendly basis. The company proposed a period of six months for negotiations between the two sides to reach an agreement. If talks fail after that time, Veolia would present its offer direct to all shareholders, Chief Executive Officer Antoine Frerot said.

Suez shares closed 2.2% higher at 16.15 euros in Paris Thursday, less than the 18 euros a share offered by Veolia. Veolia added 0.6%, while Engie gained less than 0.1%.

(Updates Suez Chairman comments in third paragraph.)

waldron
01/10/2020
15:05
Denmark clears Nord Stream 2 to operate in its waters
Oct. 1, 2020 9:48 AM ET|About: Public Joint Stock Company ... (OGZPY)|By: Carl Surran, SA News Editor

The Danish Energy Agency gives the Gazprom-led (OTCPK:OGZPY) Nord Stream 2 consortium permission to operate its Baltic Sea natural gas pipeline on the Danish continental shelf.

"The permit has been granted on a number of conditions to ensure a safe operation of the pipelines," and commissioning of the gas link can take place "when at least one of the pipelines has been tested, verified and when relevant conditions in the construction permit and the operations permit have been met," the agency says.

Gazprom's Nord Stream 2 partners are Royal Dutch Shell (RDS.A, RDS.B), Germany's Uniper (OTC:UNPPY) and BASF (OTCQX:BASFY), Austria's OMV (OTCPK:OMVJF) and France's Engie (OTCPK:ENGIY).

The German government has come under pressure to pull out of the project following the near fatal poisoning of Russian dissident Alexei Navalny.

waldron
01/10/2020
12:11
Suez Supports Ardian Plan to Launch Takeover Bid for Company
01/10/2020 12:52pm
Dow Jones News

Veolia Environnement (EU:VIE)
Intraday Stock Chart


Thursday 1 October 2020
Click Here for more Veolia Environnement Charts.

--Suez says it supports France-based Ardian's approach to shareholder Engie for a 29.9% stake in the waste-management company

--The development came a day after rival Veolia Environnement made an increased bid to Engie for the same stake

--Engie looks set to accept Veolia's fresh offer, according to Jefferies analysts



By Joshua Kirby



Suez SA has backed private-equity firm Ardian's plan to launch a takeover bid for the company, the latest development in a story that this week saw Veolia Environnement SA increase its bid for Engie SA's shares in Suez as part of its plan to take over its rival.

"Both Suez's board of directors and its employee shareholders confirm their support for the letter of intent issued and made public today by Ardian in a press release, for the acquisition of a 29.9% stake of Engie's shares in Suez, and the all-cash takeover bid that would immediately follow for all Suez shareholders, under the same treatment conditions," the French waste-management company said Thursday.

The statement comes after France-based Ardian said it had informed Engie of its interest in acquiring a 29.9% stake in Suez from the energy company, adding that it wanted to form a consortium of mostly French private and public institutional investors to launch a friendly offer for Suez.

On Wednesday, Engie seemed closer to selling the 29.9% stake to Veolia, after the latter increased its offer by 16% to 18 euros ($21.10) a share from EUR15.50 in the initial offer.

Engie welcomed the renewed offer, which values the stake at EUR3.4 billion, saying it was in line with expectations regarding price and social guarantees, and adding that it would make a decision by Oct. 5.

Suez has opposed the approach from Veolia, saying that the terms of the new offer are vague and don't guarantee the interests of shareholders and stakeholders.

The new bid from Veolia may, however, be too good to refuse for Engie, according to analysts at Jefferies. The 18-euro-a-share offer represents a 50% increase on Suez's share price on Aug. 28, just before the announcement of the initial bid, Jefferies said.

"We see the price offered by Veolia as very attractive and believe Engie will find it difficult to refuse, particularly given its ambitions to invest in green energy," Jefferies said.

The U.S. bank added that acceptance could lead to a friendly merger, given Veolia's concessions to Suez, including full employment in France and integration of Suez executives into the larger group. Veolia also promised to make a tender offer for the remaining 70.1% of Suez on a friendly basis. Suez has been holding out for Veolia to make an offer for 100% of the company.

It is unclear whether the EUR18 offered by Veolia for each Suez share would be a reference price in any subsequent tender offer for the remaining shares, Jefferies said.



Write to Joshua Kirby at joshua.kirby@dowjones.com



(END) Dow Jones Newswires

October 01, 2020 07:37 ET (11:37 GMT)

grupo
01/10/2020
10:07
Https://www.insidermedia.com/news/north-west/engies-cheshire-plans-finally-secure-backing
grupo
01/10/2020
10:03
Https://www.insidermedia.com/news/yorkshire/engie-to-lead-on-28m-housing-development
grupo
01/10/2020
06:06
Veolia Environnement SA agreed late Wednesday to extend its improved offer to buy a 29.9% stake in waste-management company Suez SA from Engie SA, as requested by Engie shortly before.

The French resource-management company's decision came after Engie welcomed the sweetened offer and said it was in line with its expectations in terms of both price and social guarantees. However, it asked for an extension of the offer to Oct. 5, which Veolia granted.

On Wednesday, Veolia increased its offer to Engie to 18 euros ($21.10) for each Suez share from a previous offer of EUR15.50 a share. Veolia also promised job security for Suez employees in France in the new offer, and said that it wouldn't launch a hostile takeover bid for Suez.

"The board therefore considered that this new offer is in line with its expectations in terms of price and social guarantees," Engie said, responding to the new offer. Besides the extension, it also requested a formal commitment by Veolia to a takeover only on friendly basis.

The bidder agreed to both requests, saying that it will formalize its commitment to a friendly takeover by Oct. 5, when the new offer now expires.



Write to Pietro Lombardi at pietro.lombardi@dowjones.com; @pietrolombard10



(END) Dow Jones Newswires

October 01, 2020 01:32 ET (05:32 GMT)

waldron
27/9/2020
07:23
OFF SHORE ENERGY BIZ

Smulders, ENGIE start working on Hollande Kust Noord offshore substation
Smulders, ENGIE start working on Hollande Kust Noord offshore substation

Business developments & projects

September 25, 2020, by Adrijana Buljan

The joint venture between ENGIE Solutions and Iemants, a subsidiary of Smulders, has cut the first steel for the topside of the offshore transformer station for the Hollandse Kust Noord wind farm zone in the Netherlands.

The joint venture partners, together with TenneT representatives, officially marked the beginning of works at a steel cutting ceremony at Iemants’ facility in Arendonk on 24 September.

Earlier this year, TenneT selected the ENGIE Fabricom – Iemants joint venture to construct the offshore substation for the Hollandse Kust Noord wind farm in the Dutch North Sea through a European tender procedure.

The joint venture is also the preferred contractor for TenneT’s Hollandse Kust West Alpha and the Hollandse Kust West Beta platforms.

The pieces that were now cut for the Hollandse Kust Noord topside are nodes and PRSs, which are the first building blocks for the topside. Steel fabrication will now continue at the Smulders’ facilities in Arendonk and Balen in Belgium.

The fabrication of the jacket foundation will start in November.

Assembly of the topside will start in October and then it will be transported to the ENGIE Solutions yard in Hoboken for final assembly in February 2021.

The outfitting, commissioning and testing of the topside will take place from June 2021 until May 2022.

Offshore installation of the jacket foundation is scheduled to take place in October 2021, while the topside will be installed offshore in mid-2022.

The Hollande Kust Noord offshore wind project will be built by the CrossWind consortium between Shell and Eneco, which won the tender in July.

The wind farm will feature 69 Siemens Gamesa 11 MW wind turbines and is set to become fully operational in 2023.

adrian j boris
26/9/2020
06:54
Https://oilprice.com/Energy/Natural-Gas/Why-Natural-Gas-Prices-Are-Set-To-Soar.html


Spot natural gas prices at the Dutch TTF hub are also at multi-month highs at over $3/MMBtu, compared to a low of below $1/MMBtu in May, opening the window for profitable U.S. LNG exports to the region again.

Having plunged by more than 50 percent between January and July, U.S. LNG exports are set to pick up the pace, and the increase already started in August.

As per EIA estimates, U.S. LNG exports averaged 3.7 Bcf/d in August, up by 19 percent from July amid rising spot and forward natural gas prices in Europe and Asia.

“Higher global forward prices indicate improving netbacks for buyers of U.S. LNG in European and Asian markets for the upcoming fall and winter seasons amid expectations of natural gas demand recovery and potential LNG supply reduction because of maintenance at the Gorgon LNG plant in Australia,” the EIA said, expecting U.S. LNG exports to return to pre-COVID levels by November 2020 and to average more than 9 Bcf/d from December 2020 through February 2021.

The EIA expects that lower U.S. gas production, coupled with rising domestic demand and demand for LNG exports in the winter, will send Henry Hub spot prices jumping to a monthly average of $3.40/MMBtu in January 2021. Monthly average spot prices are set to remain above $3.00/MMBtu for all of next year, averaging $3.19/MMBtu in 2021, up from a forecast average of $2.16/MMBtu in 2020.

By Tsvetana Paraskova for Oilprice.com

adrian j boris
25/9/2020
16:46
Brent Crude Oil NYMEX 42.24 -0.52%
Gasoline NYMEX 1.18 +0.58%
Natural Gas NYMEX 2.82 -1.40%
WTI 40.076 USD -0.45%


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Eni
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Total
28.06 -3.32%ex divi day


11.12 -0.13%

Orange
8.89 -1.44%



Bp
233.3 +0.39%

Vodafone
103.8 -0.04%

Royal Dutch Shell A
1,004.8 -0.91%


Royal Dutch Shell B
972.1 -0.61%


Tullow Oil (TLW)
: 15.46 -0.195 (-1.25%)

waldron
25/9/2020
11:10
Veolia Environnement SA is set to present an "improved offer" late Friday for Suez SA to Engie SA's board of directors, Chief Executive Antoine Frerot said in a press conference Friday.

"The offer price will be increased, but I won't say by how much," Mr. Frerot said, adding that price is not the sole criteria.

The improved offer takes into account the points raised by Engie, Mr. Frerot added. "The social commitments have been formally set out in a letter that will be sent to Engie's board of directors," he said.

Mr. Frerot said he is open regarding the question of governance, noting that of the 12 members of the new entity's executive committee, four or five could come from within Suez. "The same would apply for directors at country level," he added.



Alice Dore contributed to this article.



Write to Olivier Pinaud at opinaud@agefi.fr



This story was translated in whole or in part from a French-language version initially published by L'Agefi-Dow Jones.



(END) Dow Jones Newswires

September 25, 2020 06:10 ET (10:10 GMT)

sarkasm
Chat Pages: Latest  107  106  105  104  103  102  101  100  99  98  97  96  Older
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