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PARIS (Reuters) – Air Lease Corporation said on Tuesday it had signed long-term lease placements for two new Airbus A320neo and two Airbus A321neo LR aircraft with Japan’s Peach Aviation Ltd. “The A320neo and A321neo LR offer Peach the most technologically advanced, fuel-efficient aircraft that will bring a new level of passenger comfort and convenience to the Japanese market,” said Air Lease Chairman Steven Udvar-Házy. (Reporting by Sudip Kar-Gupta, Editing by Sherry Jacob-Phillips) … [Read more...] about Air Lease signs long-term lease placements for four Airbus jets

OSLO (Reuters) – Finnish technology firm Tieto has agreed to pay 13.2 billion Norwegian crowns (£1.2 billion) in cash and shares for Norwegian competitor Evry, the two companies announced on Tuesday. The proposed combination will create a digital consultancy with 24,000 employees and annual revenues of nearly 3 billion euros, offering software, cloud solutions, robotics and other services, they said in a joint statement. The agreed offer, representing a 15.4% premium over Evry’s last traded share price, will give the Norwegian firm’s owners a 37.5% stake in the new company and a total cash consideration of approximately 200 million euros, they added. Tieto and Evry aim to reduce costs by some 75 million euros annually via layoffs and other cuts, most of which will be achieved by the end of 2022. “The companies estimate that non-recurring implementation costs, anticipated to materialize by 2022 will amount to 120-140 million euros,” they added. The … [Read more...] about Finland’s Tieto in £1.2 billion deal to buy Nordic peer Evry

(Reuters) – Intertrust acquired U.S.-based Viteos for $330 million (£263.3 million), the Dutch trust and business administration company said on Tuesday, in a deal which will help strengthen its foothold in the United States. The deal, which was completed on June 17, is expected to deliver mid-single-digit EPS accretion in the first full year of ownership and double-digit EPS accretion by 2021, including phased synergies. It will help Intertrust increase its exposure to funds and accelerate its growth potential, the Dutch company said. Following the acquisition with Viteos, a tech-enabled alternative funds manager in New Jersey, Intertrust raised its medium-term guidance to reflect enhanced revenue growth and cost synergies, and now targets underlying revenue growth of 4-6% year-on-year. (Reporting by Pawel Goraj, Editing by Sherry Jacob-Phillips) … [Read more...] about Dutch Intertrust acquires U.S.-based Viteos for $330 million

BERLIN (Reuters) – Germany will support three company alliances with earmarked funds of 1 billion euros for the domestic production of battery cells in an effort to reduce carmakers’ dependence on Asian suppliers, Economy Minister Peter Altmaier told Reuters. Among the more than 30 companies that applied for state funding at the German Economy Ministry are carmakers Volkswagen and BMW, as well as German battery maker Varta and Swedish battery manufacturing startup Northvolt. France and Germany have already asked the European Commission to approve state subsidies for a cross-border battery cell consortium including carmaker PSA, its German subsidiary Opel and French battery maker Saft. “We’ve now reached a point where we can say that there is likely to be not only one battery cell consortium, but probably three,” Altmaier said in a Reuters interview. The Economy Ministry will submit all necessary state aid documents to the European Commission once it has … [Read more...] about Germany to support three battery cell alliances

(Reuters) – Equipment rental company Ashtead Group Plc on Tuesday said full-year profit rose 17%, as its U.S. Sunbelt business benefited from higher demand for industrial gear. The FTSE-100 company, which rents out diggers, construction tools and other equipment, said underlying pretax profit rose to 1.11 billion pounds ($1.39 billion) in the year ended April 30, from 927.3 million pounds a year earlier. (Reporting by Justin George Varghese in Bengaluru; Editing by Bernard Orr) … [Read more...] about Ashtead posts 17% rise in annual profit on Sunbelt growth