As we already reported on October 16, 2018, Fagerhult has now taken over the Italian iGuzzini Illuminazione for around...........

As we already reported on October 16, 2018, Fagerhult has now taken over the Italian iGuzzini Illuminazione for around...........

385 m EUR at the end of the year. This will create one of the largest lighting companies in Europe with a consolidated annual net turnover of more than 8,000 m SEK (780 m EUR).

As already announced, Adolfo Guzzini (president of iGuzzini) and Andrea Sasso (managing director of iGuzzini), in addition to their current management responsibilities within iGuzzini, will take on key functions in Fagerhult's top management.

The terms: Fagerhult is to acquire iGuzzini on a cash and debt free basis for 385 m EUR. 26% will be paid in new Fagerhult shares issued to current iGuzzini shareholders, 74% will be paid in cash through new and existing credit facilities and a bridging loan.

The transaction is expected to close in the first quarter of 2019.

 

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Legrand, North and Central America took over the American lighting specialist Kenall from Kenosha / Wisconsin........

Legrand, North and Central America took over the American lighting specialist Kenall from Kenosha / Wisconsin........

at the end of the year, thereby continuing to penetrate the lighting market.

Legrand once again proves its ability to bring intelligent and solution-oriented products to new market segments to meet the changing needs of its customers.

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RWC Asset Management LLP acquired an additional...

RWC Asset Management LLP acquired an additional share package and now owns a 15% stake in Solar A / S.

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The Rexel Group has decided to respond with a series of actions to the economic and social refoundation called for by..........

The Rexel Group has decided to respond with a series of actions to the economic and social refoundation called for by..........

France’s President of the Republic.

Three of these actions relate to the employability of workers in France with the implementation of 250 contracts per year combining studies and work, a plan for each Rexel branch to host a high-school student for a discovery internship and participation in the implementation of work-based diplomas.

The other three measures focus on supporting purchasing power and the energy transition with a bonus of 400 euros for all employees in France, overtime hours free of taxes and offering technical solutions to promote the government plan to replace fuel-based boilers. The bonus will be paid in December 2018 and will be exempt from social and labor charges for employees whose income is less than 3 times the minimum wage (SMIC).

Patrick Berard, CEO of the Rexel Group, declared: "Rexel wishes to fully participate in the President's campaign for social cohesion, and I am particularly proud that our company can offer all our workers in France the opportunity to contribute to this societal overhaul and to be part of a future based on commitment and optimism."

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As we reported in September 2016, Ms. Frei changed from ABB to Schneider Electric as Germany boss.

As we reported in September 2016, Ms. Frei changed from ABB to Schneider Electric as Germany boss.

In the meantime, she has worked her way up the career ladder; from the head of Germany over the management of the DACH organization to now the vice-president of the entire European business of Schneider Electric.

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ABB is likely to sell its power grid business to the Japanese Hitachi group later this month.

ABB is likely to sell its power grid business to the Japanese Hitachi group later this month.

It has not yet been finally clarified how much Hitachi will take over and the price is still unclear. These issues are still under negotiation, but then, by the end of the year, Hitachi will be the second largest manufacturer in this segment behind GE.

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