Latest news with #Rabe
Time of India
28-06-2025
- Business
- Time of India
RTL buys Sky Deutschland in deal to take on US streaming giants
European broadcaster RTL Group said on Friday it would buy Sky Deutschland , in a deal that combines Sky 's sports and streaming offerings with RTL's news and entertainment brands to create a business with 11.5 million paying subscribers. Shares in RTL surged 12% following announcement of the deal, rising to the top of Germany's mid-cap index. The merger brings together two of Europe's strongest media offerings in sport and entertainment in a battle to catch up with U.S. heavyweights in Germany. RTL and Sky's combined streaming services boast an audience larger than that of Disney but far behind market leaders Netflix and Amazon Prime. The deal includes a 150 million euro ($176 million) upfront payment plus a variable component of up to 377 million euros depending on RTL's share price which Sky parent Comcast can trigger any time within five years. The purchase gives RTL, which is majority-owned by German media group Bertelsmann , local access to Sky's premium sports rights including Bundesliga and Premier League soccer, and Formula 1 motor racing, as well as Sky's WOW streaming service. A person familiar with the situation said RTL had approached Sky for the deal, and that Sky was not looking to sell any other part of its business. RTL Chief Executive Thomas Rabe described the deal as "transformational" for the group and said it would create cost savings of around 250 million euros per year within three years of the deal closing. In the past, Rabe had considered a bid for German competitor ProSiebenSat.1 but doubted whether competition regulators would give that the green light. He told Reuters in a separate interview that RTL would not be involved in any further consolidation in the German market. "The issue of a merger with ProSiebenSat.1 is now definitely off the table," he said. ProSieben, for its part, is trying to fend off a takeover from MFE, the TV broadcaster controlled by Italy's Berlusconi family, which wants to build on its commercial TV operations in Italy and Spain to create a pan-European broadcaster. Sky Deutschland, which operates in Germany, Austria, Switzerland, was on track to break even on an earnings before interest, taxes, depreciation and amortization (EBITDA) basis, Sky Group Chief Executive Dana Strong said. The business reported around 2 billion euros in annual revenue. The variable component of the deal with Sky depends on RTL's share price, which was 35.40 euros at 0721 GMT in Frankfurt trade following a jump in value after announcement of the deal. Comcast can trigger it at any time within five years of the deal being finalised provided the share price exceeds 41 euros. At a share price of 70 euros, the additional payment for Comcast would be capped at 377 million euros. RTL can pay in cash, shares or a combination of both.
New Straits Times
27-06-2025
- Business
- New Straits Times
RTL buys Sky Deutschland in deal to take on US streaming giants
BERLIN: European broadcaster RTL Group said on Friday it would buy Sky Deutschland, in a deal that combines Sky's sports and streaming offerings with RTL's news and entertainment brands to create a business with 11.5 million paying subscribers. Shares in RTL surged 12 per cent following announcement of the deal, rising to the top of Germany's mid-cap index. The merger brings together two of Europe's strongest media offerings in sport and entertainment in a battle to catch up with U.S. heavyweights in Germany. RTL and Sky's combined streaming services boast an audience larger than that of Disney but far behind market leaders Netflix and Amazon Prime. The deal includes a 150 million euro (US$176 million) upfront payment plus a variable component of up to 377 million euros depending on RTL's share price which Sky parent Comcast can trigger any time within five years. The purchase gives RTL, which is majority-owned by German media group Bertelsmann, local access to Sky's premium sports rights including Bundesliga and Premier League soccer, and Formula 1 motor racing, as well as Sky's WOW streaming service. A person familiar with the situation said RTL had approached Sky for the deal, and that Sky was not looking to sell any other part of its business. RTL chief executive Thomas Rabe described the deal as "transformational" for the group and said it would create cost savings of around 250 million euros per year within three years of the deal closing. In the past, Rabe had considered a bid for German competitor ProSiebenSat.1 but doubted whether competition regulators would give that the green light. He told Reuters in a separate interview that RTL would not be involved in any further consolidation in the German market. "The issue of a merger with ProSiebenSat.1 is now definitely off the table," he said. ProSieben, for its part, is trying to fend off a takeover from MFE, the TV broadcaster controlled by Italy's Berlusconi family, which wants to build on its commercial TV operations in Italy and Spain to create a pan-European broadcaster. Sky Deutschland, which operates in Germany, Austria, Switzerland, was on track to break even on an earnings before interest, taxes, depreciation and amortization (EBITDA) basis, Sky Group Chief Executive Dana Strong said. The business reported around 2 billion euros in annual revenue. The variable component of the deal with Sky depends on RTL's share price, which was 35.40 euros at 0721 GMT in Frankfurt trade following a jump in value after announcement of the deal. Comcast can trigger it at any time within five years of the deal being finalised provided the share price exceeds 41 euros. At a share price of 70 euros, the additional payment for Comcast would be capped at 377 million euros. RTL can pay in cash, shares or a combination of both.
Yahoo
19-06-2025
- Business
- Yahoo
Huhtamaki secures $173m loan for refinancing
Finnish sustainable packaging solutions provider Huhtamaki has secured a €150m ($173m) freely transferable loan (Schuldschein) aimed at institutional investors. The loan agreement, structured in two floating and two fixed-rate tranches, will mature over five and seven years, respectively. This financial move is intended to facilitate the refinancing and support general corporate activities within the Huhtamaki Group. Meanwhile, Huhtamaki announced a change in its executive team. Johan Rabe, executive vice president of digitalisation and process performance, and a member of the Huhtamaki global executive team, will be departing the company to explore new career opportunities. Rabe has committed to aiding in a smooth transition until the end of the current year, after which his successor will be named. In January 2025, the company appointed Ralf Wunderlich as its new president and CEO. Huhtamaki, with a century-long history and a robust Nordic heritage, operates across 36 countries with approximately 18,000 professionals in 102 locations. The company's efforts towards sustainability can be seen in its operations and product offerings. These products play a crucial role in protecting food and beverages, both on-the-go and on-shelf, as well as personal care items, ensuring safety and hygiene, enhancing accessibility and affordability, and contributing to the reduction of food waste, stated the company. In 2024, Huhtamaki reported net sales of €4.1bn. Net sales remained flat at €1bn in the first quarter of 2025, when compared with the previous year's level. By the end of Q1 2025, the company realised cost savings amounting to €87m, which have been instrumental in offsetting the impact of cost inflation. In April 2025, Huhtamaki acquired Zellwin Farms, a producer of moulded fibre packaging in Florida, the US. "Huhtamaki secures $173m loan for refinancing" was originally created and published by Packaging Gateway, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
DW
19-06-2025
- Business
- DW
China's Zoomlion takes over German agri-tech firm Rabe – DW – 06/19/2025
The Chinese machinery giant has acquired Rabe because of its innovative tilling technology. Zoomlion uses Rabe to expand its agricultural machinery division and wants to open up new sales channels in the EU. China Invests in German Agricultural Technology Germany's agricultural technology sector is facing significant changes, driven in part by Chinese investment. One notable example is the acquisition of the historic German tillage equipment manufacturer Rabe by Chinese construction machinery giant Zoomlion. Rabe, once a thriving family-run company, struggled with generational transitions and financial instability, ultimately leading to insolvencies. Today, under Chinese ownership, Rabe is not only revitalizing its innovative product line but also leveraging its expertise in precision plowshares to expand into the Chinese market. This collaboration allows German-engineered agricultural equipment to find a new market abroad while benefiting from Zoomlion's manufacturing advancements. A Strategic Partnership Reshaping the Market Despite initial concerns about the long-term intentions of Chinese investors, Zoomlion has actively supported Rabe's redevelopment, helping it modernize production processes and regain competitiveness in Europe. The partnership has also paved the way for Chinese agricultural machinery to enter the German and European markets through Rabe's existing distribution network. With advanced automation and cost-effective production in China, these machines are being adapted for European standards, ensuring compliance and usability in the region. The exchange of technical expertise between Germany and China highlights the growing integration of global markets and the increasing role of Chinese capital in European industries. What Does Chinese Investment Mean for Germany? While concerns over foreign ownership of key industries remain, the Chinese investment in Rabe illustrates a potential positive outcome: preserving jobs, fostering innovation, and ensuring the survival of legacy German manufacturers that might otherwise have disappeared. This trend could enhance competition, drive technological development, and encourage more cross-border collaboration. However, questions remain about long-term control and economic dependency. As China continues to invest in German technology sectors, careful oversight and balanced partnerships will be crucial in maintaining Germany's industrial independence while benefiting from international cooperation. This video summary was created by AI from the original DW script. It was edited by a journalist before publication.
DW
19-06-2025
- Business
- DW
China invests in German agricultural technology – DW – 06/19/2025
Rabe is back with innovative tillage! Chinese manufacturer Zoomlion uses Rabe to expand its agricultural machinery division and opens up new sales channels in the EU – a milestone for sustainable agricultural technology. Chinese Invests in German Agricultural Technology Germany's agricultural technology sector is facing significant changes, driven in part by Chinese investment. One notable example is the acquisition of the historic German tillage equipment manufacturer Rabe by Chinese construction machinery giant Zoomlion. Rabe, once a thriving family-run company, struggled with generational transitions and financial instability, ultimately leading to insolvencies. Today, under Chinese ownership, Rabe is not only revitalizing its innovative product line but also leveraging its expertise in precision plowshares to expand into the Chinese market. This collaboration allows German-engineered agricultural equipment to find a new market abroad while benefiting from Zoomlion's manufacturing advancements. A Strategic Partnership Reshaping the Market Despite initial concerns about the long-term intentions of Chinese investors, Zoomlion has actively supported Rabe's redevelopment, helping it modernize production processes and regain competitiveness in Europe. The partnership has also paved the way for Chinese agricultural machinery to enter the German and European markets through Rabe's existing distribution network. With advanced automation and cost-effective production in China, these machines are being adapted for European standards, ensuring compliance and usability in the region. The exchange of technical expertise between Germany and China highlights the growing integration of global markets and the increasing role of Chinese capital in European industries. What Does Chinese Investment Mean for Germany? While concerns over foreign ownership of key industries remain, the Chinese investment in Rabe illustrates a potential positive outcome: preserving jobs, fostering innovation, and ensuring the survival of legacy German manufacturers that might otherwise have disappeared. This trend could enhance competition, drive technological development, and encourage more cross-border collaboration. However, questions remain about long-term control and economic dependency. As China continues to invest in German technology sectors, careful oversight and balanced partnerships will be crucial in maintaining Germany's industrial independence while benefiting from international cooperation. This video summary was created by AI from the original DW script. It was edited by a journalist before publication.
