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Pernod Ricard, the leading producer of premium wines and spirits, reported that 61.8% of its sales come from strategic international brands, with Absolut and Jameson being top sellers. The company operates 94 production sites globally, with sales distributed across Europe (28.3%), the Americas (28.8%), and other regions (42.9%).
Blackstone has agreed to acquire a 22% stake in AGS Airports, which operates Aberdeen, Glasgow, and Southampton airports, for GBP 235 million ($304 million) from AviAlliance. PSP Investments, which owns the remaining 78%, previously acquired AGS in 2024 for GBP 1.5 billion. This investment aligns with a trend of private capital targeting UK transport infrastructure, as global leisure travel continues to grow. The deal awaits customary regulatory approvals.
Barclays has upgraded Bunzl's stock rating from Equalweight to Overweight, raising the price target to GBP36.50 from GBP35.00, citing improving conditions and a strong volume trend. Analysts expect a more stable pricing environment and enhanced margins from increased penetration of own-brand products in the U.S. Additionally, Deutsche Bank and Citi have also upgraded their ratings, reflecting renewed confidence in Bunzl's growth prospects.
In a recent discussion, Shenal Kakad, Head of Private Markets at Barclays, highlighted the evolution and democratization of private markets, which were once limited to large investors. He emphasized the rise of evergreen funds as a solution to traditional private equity challenges, while also underscoring the critical role of private banks in providing tailored investment strategies and expert guidance to clients navigating these complex financial landscapes.
Barclays PLC has initiated the repurchase and cancellation of 2,955,000 ordinary shares as part of its ongoing buy-back program, which commenced on February 14, 2025. This strategy aims to optimize the capital structure and enhance shareholder value, reducing the total issued share capital to 14,333,345,937 shares. The move underscores Barclays' commitment to returning capital to shareholders, potentially influencing its share price and market perception.
Vodafone Group Plc has announced the purchase of 3,000,000 ordinary shares from Goldman Sachs International as part of its share buyback program initiated in February 2025. The shares will be held in treasury, reflecting Vodafone's strategy to manage its capital structure and enhance shareholder value. The company continues to focus on providing a wide range of telecommunications services globally.
Manolete Partners PLC has secured a new revolving credit facility with HSBC UK Bank PLC, maintaining the GBP17.5 million level of its previous arrangement but with improved terms. The margin is now 4.0% over the Sterling Overnight Index Average, down from 4.7%, and the non-utilisation fee has decreased to 1.40% from 1.88%. This 3.25-year facility, maturing on June 27, 2028, with a possible one-year extension, reflects the strong partnership established since 2018, according to CEO Steven Cooklin.
Temasek Holdings is exploring the sale of Element Materials Technology, a UK-based testing and inspection firm it acquired in 2022 for over US$7 billion, including debt. The Singaporean investor is consulting with advisers to assess interest from potential buyers, including strategic firms. Following the acquisition, Element expanded by acquiring National Technical Systems, a US-based testing firm focused on aerospace and defense, in September 2022.
Barclays analyst Lydia Rainforth has maintained a Buy rating on BP p.l.c. with a price target of £6.50, following a share close at £435.50. The company holds a Moderate Buy consensus among analysts, with a target average of £502.50, and has seen a one-year high of £541.00 and a low of £365.20. Rainforth boasts a 60.14% success rate and an average return of 6.1%.
HSBC Holdings plc has repurchased over 3.4 million shares as part of its ongoing buy-back program initiated on February 20, 2025, aimed at optimizing its capital structure and enhancing shareholder value. Since the program's inception, a total of 132.5 million shares have been repurchased, amounting to approximately US$1.51 billion. The cancellation of these shares will adjust the company's ordinary share capital, impacting shareholder voting rights.
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Pernod Ricard maintains strong market position in premium wines and spirits
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09:30 31.03.2025
Barclays upgrades Bunzl stock rating and raises price target to GBP36.50
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Barclays maintains buy rating on BP with price target of 6.50
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