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Ecoslops – Very strong business growth in 2017
Ecoslops (ISIN: FR0011490648; Ticker: ALESA / PEA-PME eligible), an innovative technology company that upgrades ship-generated hydrocarbon residue,
Ecoslops (ISIN: FR0011490648; Ticker: ALESA / PEA-PME eligible), an innovative technology company that upgrades ship-generated hydrocarbon residue,
Noble Energy, Inc. (NYSE: NBL) ("Noble Energy" or "the Company") announced that it has signed a definitive agreement to divest a 7.5 percent working interest in the Tamar field, offshore Israel, to Tamar Petroleum Ltd. (TASE: TMRP) ("Tamar Petroleum") for cash proceeds of approximately $560 million and 38.5 million shares of Tamar Petroleum.
UBS and Nordea today announced an agreement on the acquisition of part of Nordea’s Luxembourg-based private banking business by UBS.
The transaction foresees the acquisition of part of Nordea Bank S.A.’s business and its integration onto UBS’s advisory platform, thereby providing clients access to its global offering and local expertise.
The decision follows a thorough strategic review of Nordea’s Private Banking International activities. The strategic review was part of the transformation of Nordea, with the aim to better manage risk, focus the business and deliver an even better bank for the clients. This led to the decision to concentrate Nordea’s private banking activities in the Nordics.
The acquisition will enable UBS to grow its presence in Europe and further strengthen its position as a key wealth manager for Nordic clients in Europe.
René Mottas, Country Head of UBS Luxembourg, said: - This transaction allows us to move our business of serving Nordic wealth management clients to a leading position in Luxembourg and in Europe. We look forward to continuing Nordea’s valued and long-standing client-adviser relationships at UBS. We see it as the perfect fit and UBS as an attractive home for Nordea’s transferring clients and employees.
Snorre Storset, Head of Wealth Management, Nordea, said: - We believe that with UBS we have found a reliable partner for our clients, who will meet their individual needs and requirements with the highest possible quality and professionalism.
Nordea Asset Management continues its business activities in Luxembourg after UBS having acquired part of Nordea Bank S.A.’s private banking business.
- Luxembourg is a financial centre for asset management. Hence, it is natural for us to have a presence since competence and infrastructure are well established, says Snorre Storset.
On 1 December 2016, UBS created UBS Europe SE (UBS ESE), with its head office in Germany and branches located in Luxembourg, Italy, Spain, Austria, Sweden and Denmark. With UBS ESE, UBS has created a truly European bank and a pan-European wealth manager. UBS Luxembourg acts as a competence centre for hosting and serving the cross-border business for clients domiciled in the EEA and has an active growth strategy for the Nordics cross-border market.
While the business transfer agreement has been signed, the details of the transaction and its completion currently planned for the second half of this year remain subject to applicable regulatory approvals and a number of conditions.
The transaction will have a marginal positive impact on CET1 capital for Nordea. Assets under management for this business as per end of 2017 amounted to EUR 13bn.
A significant increase was recorded at the Car Terminal of PPA S.A. in 2017 as a total of 431.157 cars were transported compared to 361.912 in 2016, recording an increase of 19,13%. 331,832 were transhipment vehicles, which afterwards were transhipped to other ports in the Mediterranean, increased by 22,07% compared to 2016, emerging the port of Piraeus as one of the biggest terminals for car traffic across the Mediterranean.
UBS and Nordea today announced an agreement on the acquisition of part of Nordea’s Luxembourg-based private banking business by UBS.
The synchronous recovery of the global economy remains strong at the beginning of 2018.
Friday, 26 April 2024
Friday, 26 April 2024
Friday, 26 April 2024
Friday, 26 April 2024
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