|Bid||25.23 x 0|
|Ask||25.25 x 0|
|Day's Range||25.06 - 25.35|
|52 Week Range||16.96 - 25.52|
|Beta (3Y Monthly)||0.44|
|PE Ratio (TTM)||N/A|
|Earnings Date||Oct 30, 2019|
|Forward Dividend & Yield||0.72 (2.86%)|
|1y Target Est||20.90|
(Bloomberg) -- Canada Pension Plan Investment Board is set to become the controlling shareholder in the 407 International Inc. highway after an Ontario court ruled in its favor, allowing it to buy a stake from embattled engineering firm SNC-Lavalin Group Inc.SNC-Lavalin agreed to sell a 10.01% stake in the Toronto toll road for as much as C$3.25 billion in cash to the Canadian pension fund, the Montreal-based engineering company said in a statement Wednesday.The court ruling marks the end of a conflict among the shareholders of the 108-kilometer (67-mile) highway. SNC announced in April it had agreed to sell the stake to OMERS, another Canadian pension fund. Spanish builder Ferrovial SA and CPPIB stepped in to exercise their rights to match the OMERS offer. The court ruled that Ferrovial had waived its right of first refusal through a prior agreement, paving the way for CPPIB to increase its stake to 50.1%, from 40%. Ferrovial’s Cintra unit will still own 43%, with SNC’s stake cut to 7% following the sale.SNC-Lavalin will get C$3.25 billion in gross proceeds, of which C$3 billion will be paid at the closing date and C$250 million over 10 years, conditional on financial results for the 407 ETR, SNC said in the statement.Net proceeds will be used to reduce SNC’s leverage. SNC’s stock plunged to a 15-year low Tuesday after its largest shareholder said the firm’s performance is of “growing concern” following a series of profit warnings.SNC’s shares rose as much as 8.1% to C$17.68 at 12:16 a.m. in Toronto. The stock has declined 62% this year.(Adds share price in last paragraph)To contact the reporter on this story: Esteban Duarte in Toronto at firstname.lastname@example.orgTo contact the editors responsible for this story: Nikolaj Gammeltoft at email@example.com, David Scanlan, Jacqueline ThorpeFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
LONDON, Aug 5 (Reuters) - A planned strike by more than 4,000 workers at London's Heathrow Airport on Tuesday has been suspended while staff vote on an improved pay offer, the Unite trade union said on Monday. Strikes proposed on Aug. 23 and Aug. 24 would continue as planned until the result of the ballot was known, the union added. (Reporting by Kylie MacLellan, Editing by Paul Sandle)
Flights are being delayed at Britain's two busiest airports, London's Heathrow and Gatwick, following technical problems at the main air traffic control centre for southern England, air traffic authorities said on Friday. "We have a technical problem with a system at the Swanwick Air Traffic Control which is causing some flight restrictions.
Britain's new prime minister Boris Johnson said he was following with interest the court cases related to the construction of a new runway at Heathrow Airport. Johnson has previously opposed a new runway at Europe's biggest airport, telling voters in his west London constituency four years ago that he "would lie down with you in front of those bulldozers and stop the building, stop the construction of that third runway".
Venture capital investors backed Immense Simulations, a British software company which creates interactive replicas of cities, on Tuesday in the latest sign of money pouring into firms that stand to gain from driverless vehicles becoming more mainstream. Some $3.1 billion had been raised this year already by companies in the autonomous driving space, according to CB Insights data. Immense sells its simulation software to carmakers and autonomous vehicle outfits seeking to test their plans for fleets of autonomous cars and run scenarios in a model city as similar as possible to the real thing.
The expansion of London's Heathrow Airport inched closer on Wednesday when a High Court judge rejected legal challenges from environmental campaigners opposed to the building of a third runway. Judge Gary Hickinbottom said he did not accept the arguments made by environmentalists and did not believe the government's transport minister acted unlawfully when he approved the expansion of Europe's biggest airport. "The court held that none of the climate change grounds was arguable," a summary of the judgement said.
Alitalia's commissioners are expected to reply on Thursday to a request by Italy's state railway Ferrovie dello Stato to extend a deadline for the submission of a rescue plan for the carrier, a source familiar with the matter said on Tuesday. Ferrovie dello Stato, which has been spearheading the Alitalia rescue efforts, said on Monday it looked at a possible delay to Tuesday's deadline to submit the rescue plan (Reporting by Giuseppe Fonte, writing by Giulio Piovaccari.
Spanish construction firm Ferrovial has approached U.S.-listed metals group Ferroglobe to discuss a potential bid for its mini hydro-electric power assets, two sources with knowledge of the deal said. The acquisition would be the Heathrow airport owner's first step into renewable assets in Spain and could help to recover some of the revenues it will lose when it completes the sale of its services division. Ferrovial has approached Grupo Villar Mir, the private holding company that owns 53 percent of Ferroglobe, to buy the assets, but will need to secure approval from regional authorities, one source said.
London Heathrow Airport could be boosted by extra trade if Britain leaves the European Union without a deal and Britain's seaports and roads get clogged up with extra congestion, the airport's chief executive said on Thursday. John Holland-Kaye, CEO of Heathrow, Europe's biggest airport, said he was not hoping for a "no-deal" Brexit outcome but that the airport would be resilient to disruption if there was one. Holland-Kaye said the airport had begun stockpiling some items, such as mechanical components and rubber gloves, that come from the EU in case of disruption around Brexit.
Airport operators need do more to counter the illegal use of drones after flights were disrupted at Heathrow and Gatwick, Prime Minister Theresa May's de-facto deputy said on Wednesday. Cabinet Office Minister David Lidington said the government would consider toughening laws that ban the use of drones near airports but that operators could also invest more in protection systems. Departures from Heathrow, Europe's busiest airport, were halted for an hour on Tuesday evening after a drone was sighted, raising fears that operations could face the serious levels of disruption that hit London's Gatwick last month.
British Prime Minister Theresa May's de-facto deputy said the government will consider toughening the law to tackle the illegal use of drones after flights were disrupted at Gatwick and Heathrow airports. "Clearly, the government is looking at the law to see whether there are ways in which it could be strengthened," Cabinet Office Minister David Lidington said in an interview with ITV. Flights from London's Heathrow airport were halted for about an hour on Tuesday after reports of a drone sighting near Europe's busiest air hub, raising fears that the chaos that affected rival Gatwick last month could be repeated on an even larger scale.
Flights from London's Heathrow airport were halted for about an hour on Tuesday after reports of a drone sighting near Europe's busiest air hub, raising fears that the chaos that affected rival Gatwick last month could be repeated on an even larger scale. "We are responding to a drone sighting at Heathrow," the airport said. London's Metropolitan Police said they had received reports of a drone near the airport at about 1705 GMT on Tuesday, which they were investigating with airport authorities.
Passengers on a plane at London's Heathrow airport have been told that "things are starting to move", a witness told Reuters, after a drone sighting halted departures at Europe's biggest airport. ...
Flights from London's Heathrow airport were halted on Tuesday after the airport said there had been sightings of a drone flown near Britain's busiest air hub. "We are responding to a drone sighting ...
What's does a company do when it doesn't have enough workers and unemployment rates are at record lows? In eastern Europe answers includes workplace massages, free carp for Christmas and guaranteed jobs for spouses. With some of the European Union's lowest unemployment rates, companies in the region are increasingly being forced to adopt novel measures to attract and retain workers so they can carry on expanding.