logo
Omers Writes Down $325 Million Investment in Bankrupt Northvolt

Omers Writes Down $325 Million Investment in Bankrupt Northvolt

Bloomberg28-02-2025
The Ontario Municipal Employees Retirement System booked a loss on its $325 million investment in Northvolt AB, the Swedish electric vehicle battery maker that filed for bankruptcy protection last year.
'At the time we made the investments, Northvolt represented an attractive growth opportunity supported by several other of the world's most respected investors,' a spokesperson for the pension manager said by email. 'Like many others, Omers has now written down its stake.'
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Newcastle send another bid to RB Leipzig for Benjamin Sesko
Newcastle send another bid to RB Leipzig for Benjamin Sesko

Business Upturn

time14 hours ago

  • Business Upturn

Newcastle send another bid to RB Leipzig for Benjamin Sesko

Newcastle United are desperate to get a striker's deal done before the window ends as their current No.9 Alexander Isak is looking for other options. By Ravi Kumar Jha Published on August 5, 2025, 08:22 IST Newcastle United are desperate to get a striker's deal done before the window ends as their current No.9 Alexander Isak is looking for other options. Isak who has already made up his mind of leaving is interested in joining Liverpool and also the club trying hard to get the deal done. However, Newcastle can only give green light when they get a new striker and they are fully focused on Benjamin Sesko. They are rivaling Manchester United for the striker. Despite sending the second bid of €90 million (package), they are not confident that the player will choose them. Man United hasn't send a bid yet as they are waiting for the player's approval first. Newcastle United are scrambling to finalise a striker signing before the summer transfer window closes, as their current No.9 Alexander Isak looks increasingly likely to leave the club. The Swedish forward has reportedly made up his mind about moving on, with Liverpool emerging as his preferred destination. Liverpool are pushing hard to get a deal over the line for Isak, who is seen as a long-term addition to their attacking options. However, Newcastle are unwilling to greenlight the transfer unless they secure a suitable replacement — and their top target is RB Leipzig striker Benjamin Sesko. The Magpies are facing stiff competition from Manchester United for the Slovenian talent. Newcastle have already submitted a second bid worth €90 million (including add-ons), but there is uncertainty within the club about Šeško's willingness to join them. Ahmedabad Plane Crash Ravi kumar jha is an undergraduate student in Bachelor of Arts in Multimedia and Mass Communication. A media enthusiast who has a strong hold on communication and he also has a genuine interest in sports. Ravi is currently working as a journalist at

Quebec environment ministry fines Northvolt for polluted run-off water
Quebec environment ministry fines Northvolt for polluted run-off water

Yahoo

timea day ago

  • Yahoo

Quebec environment ministry fines Northvolt for polluted run-off water

MONTREAL — Quebec's Environment Department has fined Northvolt for allegedly releasing wastewater with high levels of aluminum and chromium at its Montérégie region site. Provincial officials issued the $10,000 penalty in June, saying the wastewater allegedly exceeded legal limits of the metals. The department says the North American branch of the Swedish battery manufacturer had released the run-off water at its site in December. The future of the proposed electric vehicle battery plant on the site is up in the air, after its parent company filed for bankruptcy in Sweden. This is the third time the Quebec ministry has penalized the company. It previously fined Northvolt for allegedly clearing a marsh without authorization and for allegedly failing to install barriers needed to protect a nearby wetland. This report by The Canadian Press was first published August 4, 2025. The Canadian Press Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store