MUMBAI : French concessions and construction company Vinci SA is nearing a $2 billion deal for Indian road assets owned by Australian asset manager Macquarie Group, paving the way for its return to the country after 11 years, two people aware of the matter told Mint . Macquarie launched the sale of its highway assets housed under Safeway Concessions Pvt. in September 2025, seeking around $1.2 billion for the portfolio, which it acquired in India's first toll-operate-transfer (ToT) auction in 2018 for ₹9,681 ...

To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh. ...

Core Points - The total number of shares forming the capital of VINCI as of January 31, 2026, is 582,257,305 [1] - The theoretical number of voting rights is equal to the total number of shares, which is 582,257,305 [1] - The number of voting rights excluding treasury stock is 554,949,123 [1]

Core Insights - VINCI Construction Grands Projets has been awarded a €144 million contract by Jamaica's National Water Commission to enhance the drinking water network as part of the Western Water Resilience Programme [2][3][8] - The project aims to improve climate resilience in Jamaica by renovating the water supply network and reducing water loss, particularly in areas experiencing demographic growth and expanding industries [2][4] Project Details - The contract involves the design and construction of 68 km of wide cast-iron pipeline, extending nearly 130 km along existing roadways and sensitive zones [3] - The project is scheduled to last 36 months and will mobilize over 100 personnel [3] - The materials used are expected to enhance the network's durability, with a useful life exceeding 50 years [4] Collaboration and Impact - VINCI will work closely with the National Environment and Planning Agency (NEPA) to protect natural habitats during construction, especially when crossing rivers [4] - VINCI has been operating in Jamaica since 1999, contributing to the development of effective infrastructure for drinking water and wastewater treatment [5]

Group 1 - VINCI Construction has agreed to acquire Fletcher Construction for NZ$315.6 million ($184 million), with the potential to increase to NZ$334.1 million based on ongoing contracts [1][2] - The acquisition includes Fletcher Construction Holdings and its three business units: Higgins, Brian Perry Civil, and Fletcher Construction Major Projects, which focus on civil construction, structures, and large infrastructure developments [2][3] - The South Pacific operations of Fletcher Construction are excluded from the deal, and responsibilities for previously completed projects will be managed separately [3][4] Group 2 - Fletcher Construction employs approximately 2,300 people in New Zealand and reports annual revenue of about €630 million, with these employees transferring to VINCI upon completion of the acquisition [3][4] - The company specializes in a wide range of infrastructure projects, including hydraulic, maritime, and renewable energy sectors, and will retain responsibility for legacy construction matters not included in the deal [4][5] - VINCI aims to expand its presence in New Zealand's civil engineering and infrastructure market with this acquisition, complementing its existing subsidiary HEB Construction [6]

Core Insights - VINCI Airports experienced significant growth in passenger traffic, welcoming over 334 million passengers in 2025, an increase of 16 million travelers or 5% compared to 2024 [2][9] - The fourth quarter of 2025 also showed a traffic increase of 3.2% compared to the same period in 2024, indicating robust momentum across various regions [3][9] Traffic Trends - European airports, particularly Budapest and Edinburgh, recorded strong growth, with Budapest experiencing double-digit growth driven by airlines like easyJet, Ryanair, and Wizz Air [4] - In Portugal, Porto airport saw traffic growth due to low-cost airline offerings and expanded transatlantic routes, while Lisbon airport continued to show notable growth in long-haul flights [5] - Latin America and Africa also saw traffic acceleration, with Salvador de Bahia in Brazil achieving record traffic in Q4, supported by GOL's expansion and long-haul traffic from TAP and Air Europa [6] Regional Performance - Japan's traffic results increased in Q4 despite geopolitical tensions with China, which led to some flight cancellations [7] - The overall traffic growth at VINCI Airports was reflected in various regions, with notable increases in Serbia (+8.6%), Hungary (+9.9%), and Brazil (+8.5%) [11] Commercial Movements - VINCI Airports reported a 1.9% increase in commercial movements year-to-date, with a 4.0% increase in Q4 compared to the previous year [12] - Specific airports like Lyon in France and Monterrey in Mexico showed strong performance in commercial movements, with Lyon experiencing a 2.9% increase and Monterrey a significant 8.6% increase [13][17] Passenger Traffic by Airport - Lisbon airport in Portugal recorded 8,669 thousand passengers in Q4 2025, reflecting a 3.4% increase, while Porto airport saw an 8.1% increase [14] - In the United Kingdom, Edinburgh airport showed an 8.4% increase in traffic, while Gatwick experienced a slight decline of 2.5% [14] Summary of Key Figures - Total passenger traffic for VINCI Airports in Q4 2025 was 80,777 thousand, marking a 3.2% increase, with a total of 334,123 thousand passengers for the year, a 5.0% increase [16][19] - The overall commercial flights for VINCI Airports in Q4 2025 reached 622,333, reflecting a 1.7% increase year-on-year [19]

Core Viewpoint - VINCI Construction is set to enhance its presence in New Zealand through the acquisition of Fletcher Construction, a subsidiary of Fletcher Building Group, with the deal expected to be finalized in 2026 [1][2]. Company Overview - Fletcher Construction, established in 1909, employs 2,300 people and generates an annual revenue of approximately €630 million (NZ$1.3 billion) [2]. - The company specializes in hydraulic, maritime, port, airport, railway, and road works, and is expanding its activities in renewable energies [2]. Market Position - This acquisition, alongside HEB Construction, positions VINCI Construction as a significant player in New Zealand's growing infrastructure construction market [2][6]. - VINCI Group reported revenue exceeding €900 million in New Zealand in 2024, indicating a strong market presence [3].

Core Insights - Intuitive Surgical's da Vinci 5 is in the early stages of international rollout, representing a long-term growth opportunity, but may face near-term hurdles [1][5] - The company is advancing regulatory clearances and early commercial activities outside the U.S., focusing on a country-specific approach for international adoption [2] - Pricing sensitivity and capital budget constraints are significant challenges in international markets, particularly in Europe and Japan [3] Company Strategy - Intuitive Surgical is adopting a portfolio-based approach to address challenges, utilizing leasing structures and alternative configurations to enhance affordability [4] - The company reported solid growth in utilization in several international markets, which is expected to support recurring revenues from instruments and accessories [4] Market Performance - Intuitive Surgical's shares have increased by 9.7% over the past six months, compared to a 12.8% increase for the industry [11] - The company trades at a forward price-to-earnings ratio of 58.13, which is above the industry average but lower than its five-year median of 71.52 [12] Earnings Estimates - The Zacks Consensus Estimate for Intuitive Surgical's 2026 earnings indicates an 11.1% rise from the previous year's level [13] - Current estimates for the upcoming quarters show a year-over-year growth estimate of 1.81% for the current quarter and 16.57% for the next quarter [16]

Nanterre, 12 January 2026 ASF successfully issued an 8-year €500 million bond ASF has successfully issued a €500 million bond due to mature in January 2034 and carrying an annual coupon of 3.375%. With an oversubscription ratio of almost 4x, the bond issue reflects the market’s trust in the company’s credit ratings (Standard & Poor’s: A-, stable outlook; Moody’s: A3, stable outlook). Performed under its EMTN programme, this issue enables ASF to extend its average debt maturity in excellent conditions consi ...

Core Insights - Intuitive Surgical (ISRG) is positioning the da Vinci 5 system as a platform for expansion into new surgical specialties, particularly cardiac surgery, which could significantly broaden the company's total addressable market (TAM) in the long term [1][2][9] Company Developments - The da Vinci 5's enhanced features, including precision and digital capabilities, aim to make robotic surgery viable for cardiac patients who are not ideal candidates for traditional methods, indicating a medium-term R&D focus rather than immediate revenue generation [2][4] - ISRG has made regulatory progress in general surgery by submitting applications for nipple-sparing mastectomy, which aligns with the company's strengths and could facilitate quicker clinical adoption once approved [3][9] Competitive Landscape - The surgical robotics market is becoming more competitive, with Medtronic and Johnson & Johnson's MedTech unit achieving regulatory clearances that expand their robotic platforms into new clinical applications, highlighting a shift in market dynamics [5][6][7] - Medtronic received FDA clearance for its Hugo robotic-assisted surgery system for urologic procedures, marking its entry into a segment traditionally dominated by ISRG [6] - Johnson & Johnson's MONARCH Platform has received clearance for enhancements that improve access to lung nodules, showcasing innovation in the interventional pulmonology segment [7] Financial Performance - ISRG shares have increased by 11.3% over the past six months, outperforming the industry average increase of 9.1% [8] - The company trades at a forward price-to-earnings ratio of 60.66, which is above the industry average but lower than its five-year median of 71.52, indicating a mixed valuation perspective [10] - The Zacks Consensus Estimate for ISRG's 2026 earnings suggests an 11.1% increase compared to the previous year [11]