SSE's Transmission Stake Sale a Positive Surprise
SSE's Transmission Stake Sale Will Be a Positive Surprise to
0818 GMT - SSE PLC will sell a 25% stake in its U.K.
transmission business for GBP1.47 billion, with the gross value of
GBP2.09 billion implying a 100% premium to March 2022's regulatory
asset value, RBC Capital Markets says. The energy company had
posted an RAV of GBP4.16 billion at the end of March 2022, RBC
analysts say in a research note. "The price achieved is therefore
in line with the 75% to March 2023 RAV we assumed [recently],
although the headline 100% will likely grab attention and is also
above where we think investors would have been expecting giving
recent macro environment in U.K.," the Canadian bank says. RBC
retains its outperform rating and 2,050 pence price target on the
stock. Shares are up 0.9% at 1,748.0 pence.
SSE PLC to Sell 25% Stake in SSEN Transmission for GBP1.47
SSE PLC said Friday that it will sell a 25% stake in its
electricity transmission network business SSEN Transmission to
Ontario Teachers' Pension Plan Board for 1.47 billion pounds ($1.78
Breedon Revenue in 10-Months to October Rose; Sees 2022 Meeting
Breedon Group PLC said Friday that revenue in both the four
months to the end of October and the first 10 months of the year
rose on year, and it backed its full-year expectations.
Devro Agrees to GBP540 Mln Takeover
Devro PLC said Friday that it has agreed to a 540 million pound
($654.3 million) takeover by Saria SE & Co. KG through its
subsidiary Saria Nederland BV.
LPA Flags FY 2022 Trading Loss Despite Upswing in 2H
LPA Group PLC said Friday that it will make a small trading loss
for the year, despite a strong second half with improved trading on
ScS Group Sees FY 2023 Performance in Line With Views, 16-Week
ScS Group PLC said Friday that like-for-like order intake for
the 16 weeks to Nov. 19 fell given a tough comparative, but added
that full-year performance is in line with expectations despite the
Devro Upbeat on Prospects as Volume, Pricing Drive Revenue
Devro PLC said Friday that it is confident for the full year and
further ahead, as revenue and margins rise across markets.
Thor Mining Trading Suspended on ASX Ahead of Capital Raise
Thor Mining PLC said Friday that trading of its shares on the
Australian Securities Exchange has been suspended ahead of a
planned capital raising.
LSL Property Services Sees 2022 Missing Prior Expectations
LSL Property Services PLC said Friday that it expects overall
2022 performance to miss prior expectations, with full-year profit
expected to be slightly above or below 2019 levels.
Kenmare Resources Cuts 2022 Production Views on Power
Kenmare Resources PLC said on Friday that production for the
full year is expected to be at or around the bottom of its guidance
ranges due to unplanned power outages caused by issues in the
electricity transmission grid.
ITM Power Appoints Dennis Schulz as CEO
ITM Power PLC said Friday that it has appointed Dennis Schulz as
chief executive officer with effect from Dec. 1.
Conviction Life Sciences Company to Raise GBP100 Mln in London
Conviction Life Sciences Company said Friday that it plans to
raise 100 million pounds ($121.2 million) and float on the London
Stock Exchange next month.
Contact: London NewsPlus; firstname.lastname@example.org
(END) Dow Jones Newswires
November 25, 2022 03:41 ET (08:41 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.