Latest news with #PHP
Filipino Times
2 days ago
- Business
- Filipino Times
PH gov't to grant P150K financial aid, full support to OFW returnees from Middle East
Overseas Filipino workers returning from countries affected by the Middle East conflict will receive financial assistance amounting to PHP 150,000 under the Philippine government's voluntary repatriation program. The immediate aid includes PHP 75,000 from the DMW AKSYON Fund and another PHP 75,000 from OWWA, the Department of Migrant Workers (DMW) said. In an interview on Bagong Pilipina Ngayon, DMW Officer-in-Charge and Undersecretary Felicitas Q. Bay assured the public that the government will provide full assistance to returning OFWs. 'Yung first batch of OFW repatriates from Israel, along with Secretary Hans Leo Cacdac ay sinalubong natin ng June 24 at ng whole-government team. Maliban po sa DMW at OWWA, kasama po natin ang DFA, DWSD, DOH, TESDA, at iba pang ahensya para magbigay ng comprehensive and immediate assistance sa kanila,' she said. Aside from the financial aid, they will also receive free medical check-ups from the Department of Health and counseling and livelihood assistance from the Department of Social Welfare and Development. The DMW's National Reintegration Center for OFWs will help them set up small businesses or find new jobs, with free training vouchers from TESDA and entrepreneurship support from DTI. As of June 24, 346 individuals in Israel have asked to return home. Twenty-six have already arrived, and fifty more are now being processed. Emergency cash worth USD 200, hygiene kits, and food packs were also provided to OFWs on-site.
Yahoo
6 days ago
- Business
- Yahoo
Buyout giant KKR hit with double defeat in bid battles
US buyout giant KKR has been dealt a double blow after losing out in bidding wars for two British companies. The private equity firm confirmed on Monday it had been trumped in its pursuit of high-tech instruments maker Spectris as the company instead opted for a rival £4.4bn bid from Advent. This came after a KKR-led bid for Assura, the owner of hundreds of GP practices across the UK, was also rejected by the board in favour of a separate offer from listed fund PHP. It marks a rare setback for the New York-based buyout firm, whose staff were once dubbed 'barbarians at the gates' for their aggressive culture. KKR's wide-ranging takeover attempts in Britain also led to it being named as the preferred bidder for troubled utility giant Thames Water. However, it abandoned a £4bn rescue bid earlier this month amid a row over fines and executive bonuses. The private equity firm was founded in 1976 by Jerome Kohlberg, Henry Kravis and George Roberts with initial funding of $120,000 (£88,900) Its assets under management now total $638bn, according to figures from the end of last year. This includes a range of investments in the UK, including utility giant Northumbrian Water, PR firm FGS Global and festival operator Superstruct. KKR is one of a number of private equity deals circling British companies amid an exodus from the London Stock Exchange. But the buyout firm has been stymied in several of its recent efforts as competition for UK takeovers grows. Spectris, which makes instruments and software for use in industries such as pharmaceuticals, said it had agreed a £4.4bn takeover by Advent International, which it said was 'fair and reasonable'. The FTSE 250 company had previously rejected two initial offers from KKR. KKR on Monday said that while it had not made a revised proposal, it was in the 'advanced stages of due diligence and arranging financing commitments' and could still do so. KKR's failed swoop for Assura comes after the NHS landlord recommended a £1.7bn bid tabled by the private equity firm alongside US infrastructure investor Stonepeak. But the approach sparked a backlash from major Assura investors amid concerns the company would be taken off the stock market at too low a price. Assura's board had previously said that the KKR bid offered 'materially less risk' than that of PHP. But it rowed back on Monday, saying PHP's fresh bid 'addressed some of the potential risks'. Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more. 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
IOL News
6 days ago
- Business
- IOL News
PHP ups bid for Assura to £1. 79bn in recommended takeover deal
Primary Health Properties (PHP) on Monday raised its offer for a leading UK healthcare real estate investment trust Assura to around £1.79 billion (R43bn). Image: Independent Media Primary Health Properties (PHP) on Monday raised its offer for a leading UK healthcare real estate investment trust Assura to around £1.79 billion (R43bn), securing backing from Assura's board and paving the way for the creation of a major UK-listed healthcare real estate investment trust (REIT). Under the revised terms, Assura shareholders will receive 0.3865 new PHP shares and 12.5 pence in cash for each Assura share. They will also receive a special dividend of 0.84 pence, bringing the total implied value to 53.3 pence per share based on PHP's closing price on June 20. Including previously declared dividends, the offer rises to 55 pence per share. The increased offer represents a 5.8% premium over a rival bid from Sana BidCom a consortium led by private equity firms KKR and Stonepeak, which had proposed 50.42 pence per Assura share in cash. Shares in PHP, which are secondary listed on the JSE, fell 5% in morning trade on Monday to R24.70, while Assura, which is also secondary listed on the JSE, shares soared 4.95% to R12.29. PHP Chair Harry Hyman said, "The PHP board continues to believe in the strong strategic rationale of the combination, which will create a leading healthcare focused listed REIT with the scale and expertise to deliver significant benefits for the shareholders in PHP and Assura. The increased PHP offer, which is expected to deliver earnings accretion to both sets of shareholders, allows Assura shareholders to participate in significant upside compared to crystalising value in cash at an inflexion point in the current economic cycle, and benefit from the combined group's likely long-term rating, continuing capital growth and a growing dividend." Assura chair Ed Smith said the board had decided to recommend the increased PHP offer after the suitor addressed earlier concerns around financing and disposal plans. 'The Assura Board has always been and will remain resolutely focused on carrying out its fiduciary duties,' he said. The revised offer follows PHP's original bid announced in May and reflects additional discussions between the two companies, including a planned joint venture for Assura's private hospital portfolio and progress on refinancing arrangements. In making its decision, Assura said it also examined the risks flagged earlier in June and held further talks with PHP over its financial structure and asset disposal strategy. PHP has since reassured the Assura board that it is in advanced talks with credible investors to form a joint venture around Assura's private hospital portfolio and committed to carrying out any disposals in a value-maximising timeline. Beyond the financial reassurances, Assura said the tie-up offers shareholders the opportunity to remain invested in a stronger, more liquid REIT with a £6bn portfolio and better long-term growth prospects. The board believes the deal will be earnings accretive in the first full year and noted the higher premium to both Assura's undisturbed share price and the rival consortium's offer. With the increased PHP offer also offering immediate value through a cash component and a special dividend, Assura said shareholders will have both near-term liquidity and long-term upside. As a result, the board has withdrawn support for the earlier bid from a KKR-Stonepeak-led consortium and urged investors to take no action on that offer. PHP is funding the cash portion of the offer through a £1.225pm facility arranged by Citibank, Lloyds and RBS. A revised offer document will be sent to Assura shareholders in the coming days. Those who have already accepted the original offer will be deemed to have accepted the revised terms. The deadline for shareholders to accept the offer is 1 pm (London time) on August 12. BUSINESS REPORT Visit:
Irish Examiner
6 days ago
- Business
- Irish Examiner
Healthcare real estate firm Assura recommends €2bn takeover bid
British healthcare real estate investor Assura on Monday recommended rival Primary Health Properties' new £1.79bn (€2.09bn) takeover bid that trumps a lower offer from KKR and Stonepeak Partners. Assura has extensive operations in the UK before entering the Irish market three years ago. It has been responsible for developing primary care centres and other healthcare facilities in counties including Mayo, Cavan, Monaghan, and Offaly. Primary Health Properties's (PHP) latest 53.3p per share bid was higher than KKR-Stonepeak's "best and final" offer of 52.1p tabled earlier this month, and at a 47% premium to Assura's closing price before KKR-Stonepeak's first approach. Assura shareholders would get 0.3865 new PHP shares, 12.5p in cash, and be entitled to a special dividend of 0.84 pence per share under the terms of the latest bid, the companies said. The private equity firms and PHP have been competing over Assura for months, gradually sweetening their offers for the company which manages over 600 healthcare properties and counts Britain's state-backed National Health Service as a customer. Reuters
The Sun
20-06-2025
- Automotive
- The Sun
The VinFast VF 6 Passes the Wife Test with Room to Spare
MANILA, PHILIPPINES - Media OutReach Newswire - 20 June 2025 - Women usually play an important role in family car-buying decisions, and the VinFast VF 6, recently launched in the Philippines, meets the key priorities of many women buyers. The old stereotype paints a familiar picture: men kick tires, debate horsepower, and make the final call on family cars. Reality tells a different story. According to CDK Global, women influence 85% of all car purchases. This insight means that women play an important, sometimes deciding, role in buying a car. It's essential for automakers to understand what women actually look for in a vehicle. The way women make decisions The numbers reveal how women approach car buying. Women spend more time researching their options. On average, they take 75 days to make a decision, compared to 63 days for men. This suggests that they usually do more thorough research to build knowledge prior to the purchase. Their priorities are also different from men's when shopping for cars. An survey of over 500,000 car inquiries showed that women focus on price, affordability, and practical features, while performance specs and brand prestige rank lower. The cars men wanted cost three times more on average than what satisfied women buyers. This kind of thinking reflects the many roles women juggle every day: caregivers, professionals, and budget managers, often all at once. A MasterCard study across 16 Asian countries found women managing household finances in half the markets surveyed. In Indonesia and the Philippines, over 56% of women control domestic spending decisions. A more recent survey by Women's World Car of the Year gave a further breakdown. Safety ranks as the single most important feature women seek. Practicality, performance, and space tie for second place. But safety isn't just about crash ratings. Women want backup cameras, blind spot monitoring, and multiple airbags. They value high seating positions for better visibility. Storage pockets, cupholders, and intuitive technology matter for daily convenience. Many also weigh emissions and fuel efficiency, choosing greener options when the situation allows. VinFast VF 6 ticks all the boxes The VinFast VF 6, a compact SUV recently launched in the Philippines, happens to tick all the boxes that matter most to women car buyers. It's a fully electric SUV in the popular B-segment, combining safety, practicality, and smart technology in a package built for real-world use. In the Philippines, the VF 6 is available in two trims: Eco and Plus, with MSRPs of 1,419,000 PHP and 1,610,000 PHP respectively. The 'Natural Opposites' design, created with Torino Design, balances function and form. But looks aren't the selling point. It's the way the VF 6 fits into everyday life. With a 2,730 mm wheelbase, the VF 6 remains compact enough for narrow city streets while offering interior space comparable to many larger gas-powered cars in the C-segment. Its 423-liter cargo capacity fits around 10 standard carry-on suitcases. Folding down the rear seats makes room for larger items such as bicycles or camping gear. Inside, the VF 6 features a 12.9-inch infotainment screen, dual-zone climate control, rain-sensing wipers, and an 8-way power driver's seat. Voice commands operate smoothly. Utility modes cater to daily needs, including Pet Mode, which keeps the cabin cool for animals when the driver steps away. The 360-degree camera view also makes parking in tight spots easier. For safety, the VF 6 includes up to 8 airbags and offers up to 19 advanced driver assistance features in the Plus version. These include blind spot detection, rear parking assist, and 360-degree camera views, making driving easier for newer drivers. The VF 6's practicality extends to finances. Owners get free charging at V-GREEN operated stations until May 1st, 2027, which eliminates fuel costs entirely. The 7-year warranty and 90% buyback guarantee provide long-term security. Range anxiety disappears with up to 480 kilometers per charge, handling both daily commutes and weekend trips without compromise. 'Women hold up half the sky', so it's only natural that they should shape what families drive on the road. And the VF 6 happens to align perfectly with this shift toward practical buyers. In this era, automakers can't rely on dated assumptions. They need to meet people where they are, starting with the ones making the decisions. The VF 6 offers practical features, safety, and financial sense. That's what many buyers want, and that's how trust is earned.
