Core Viewpoint - Collins Foods has entered a binding conditional agreement to transfer 20 of its 27 Taco Bell locations in Australia to Yum! Brands and Restaurant Brands Australia, focusing on its KFC business thereafter [1][2]. Group 1: Transaction Details - The deal involves a "nominal" purchase price, with buyers assuming lease liabilities for the 20 Taco Bell sites [1]. - Collins Foods will be compensated for any net operating losses and necessary capital expenditures incurred for the outlets from April 2026 until completion [2]. - The finalization of the deal is conditional upon negotiations and several pre-completion requirements, including landlord consents and regulatory approvals from the Australian Competition and Consumer Commission (ACCC) [3]. Group 2: Timeline and Future Plans - Completion of the transaction is expected between June and August 2026, depending on the pace of regulatory approvals [4]. - The seven Taco Bell locations not included in the transaction are set to be shut down soon, with Collins Foods in discussions to transfer their leases to new tenants [4]. - Collins Foods aims to concentrate on its KFC operations in Australia and Europe, particularly in Germany, following this transition [5]. Group 3: Employment and Transition - Employees at the 20 transitioning Taco Bell restaurants will be offered continuity of employment and job security under the new ownership [6].

Core Viewpoint - United Spirits has agreed to sell its entire stake in the Royal Challengers Bengaluru franchise to a consortium of investors for Rs166.6 billion ($1.78 billion) [1][2]. Group 1: Transaction Details - The consortium includes Aditya Birla Group, The Times of India Group, Bolt Ventures, and Blackstone's private-equity fund BXPE [2]. - The deal will transfer ownership of the RCB teams participating in the Indian Premier League (IPL) and Women's Premier League (WPL) [2]. - The transaction involves the sale of 14,690 equity shares [4]. Group 2: Strategic Rationale - United Spirits initiated a review of its holding in Royal Challengers Sports Private Limited (RCSPL), deeming it "non-core" to its primary alcohol business [2]. - The CEO of United Spirits, Praveen Someshwar, emphasized that this transaction allows the company to focus on its core beverage alcohol business and aims for sustained growth and long-term value creation for stakeholders [4]. Group 3: Financial Impact - RCSPL contributed 1.9% to United Spirits' revenue from operations and 4.1% to its net worth for the financial year 2024-25 [3]. - The transaction is expected to close within six months, pending regulatory approvals from bodies such as the Board of Control for Cricket in India (BCCI) and the Competition Commission of India [5]. Group 4: Leadership Changes - Aryaman Vikram Birla from Aditya Birla Group will chair the franchise, while Satyan Gajwani from The Times of India Group will serve as vice chairman under the new ownership [5][6].

Core Insights - Delivery Hero has agreed to sell its Foodpanda operations in Taiwan to Grab for $600 million in cash, marking the first step in a strategic review [1][2] - The proceeds from the sale will be used to repay debt and strengthen Delivery Hero's capital structure [1] - The transaction is expected to close in the second half of the year, pending regulatory approvals [2] Delivery Hero's Operations - Delivery Hero's Taiwan food delivery operations generated a gross merchandise value (GMV) of €1.5 billion ($1.75 billion) in full-year 2025, with positive adjusted EBITDA [4] - The company remains committed to operating in the market until the transaction closes [2] Grab's Expansion - The acquisition will allow Grab to establish a delivery presence outside Southeast Asia, marking its expansion into Taiwan, the ninth market for the company [3] - Grab's experience in Southeast Asia is seen as a good fit for the Taiwanese market, with significant growth opportunities in food and grocery delivery [4]

Core Viewpoint - Lonza has announced the divestment of its Capsules & Health Ingredients (CHI) business to Lone Star Funds, marking a significant step towards becoming a pure-play One Lonza CDMO [2][4]. Group 1: Transaction Details - The agreement involves the sale of 60% of the CHI business to Lone Star Funds, which is a major strategic move for Lonza [4]. - This divestment is part of Lonza's strategy to streamline operations and focus on its core CDMO (Contract Development and Manufacturing Organization) business [4]. Group 2: Company Strategy - Over the past 1.5 years, Lonza has made high-speed progress in creating a focused business model centered around its CDMO operations [4].

Group 1 - EG Group has agreed to sell its operating business in France to EG On The Move as part of its planned exit from the market [1] - The transaction involves a put option for EG On The Move to acquire approximately 260 sites in France, part of a broader divestment strategy [2] - The sale is expected to be completed within the next 12 months, with regulatory approvals pending and completion anticipated in the second quarter of 2026 [3] Group 2 - The divestment aligns with EG Group's strategy to refocus on the US market, having previously exited Australia and Italy, generating £530 million ($717.6 million) and €425 million respectively [4] - EG On The Move views the acquisition as a strategic investment in the mobility sector, aiming to strengthen its market position and broaden its portfolio [5]

Core Viewpoint - Coveris has agreed to divest its labels and board business to Kingswood Capital Management, with the unit to be re-established as Paragon Print and Packaging, expected to complete in Q1 2026 [1][2]. Group 1: Transaction Details - The sale involves the paper business unit, which will operate independently as Paragon Print and Packaging, generating annual sales of approximately €270 million ($321.2 million) and employing around 1,400 staff [2]. - Coveris will retain 17 flexible packaging manufacturing sites across EMEA and the UK, with projected sales of about €600 million and a workforce of roughly 2,500 employees post-divestment [2]. Group 2: Management and Strategic Focus - Coveris CEO Christian Kolarik stated that the divestment allows for a strategic focus on core EMEA flexible packaging activities, expressing confidence in the growth potential of the Paper Business under new ownership [3]. - Jo Ormrod, the current COO of Coveris' paper business unit, will become the CEO of Paragon, with the existing management team continuing in their roles [4]. Group 3: Product Focus and Legacy - Paragon Print and Packaging will focus on paper-based, recyclable packaging for sectors such as food, household, and personal care, offering products like self-adhesive labels and environmentally friendly materials [4]. - The brand Paragon has a legacy of over three decades, known for its trusted reputation among customers [4].

Core Viewpoint - Continental has successfully met its full-year guidance for sales and adjusted EBIT margin at both group level and within its tyres division, while the performance of the ContiTech unit fell short of expectations due to a weak market environment [1][2]. Group Performance - Preliminary sales for Continental in the fourth quarter are approximately €5 billion ($5.86 billion) and around €19.7 billion for fiscal 2025, aligning with the guidance range of €19.5 billion to €21 billion [2]. - The adjusted EBIT margin is projected to be about 10.9% for the fourth quarter and roughly 10.2% for the full year, within the target corridor of "around 10.0% to 11.0%" [2]. Tyres Division - The tyres business reported fourth-quarter sales of around €3.6 billion, with full-year sales anticipated to be about €13.8 billion, consistent with the previously communicated range of €13.5 billion to €14.5 billion [3]. - The adjusted EBIT margin for the tyres division is expected to be around 14.3% in the final quarter, attributed to positive mix effects and further cost optimizations [3]. - For the full year, the adjusted EBIT margin in tyres is projected at around 13.6%, within the guided span of "around 12.5% to 14%" [4]. ContiTech Division - The ContiTech unit's profitability did not meet the targeted margin range, with expected sales of around €1.4 billion for the fourth quarter and roughly €6 billion for fiscal 2025, aligning with the guidance of €6 billion to €6.5 billion [4]. - Continental is moving forward with plans to divest ContiTech, which supplies advanced rubber and plastic solutions, with the transaction targeted for 2026 [5]. - Internal preparations for the sale of ContiTech have been finalized, and a structured sales process is set to begin this month [5][6]. Market Outlook - The CFO of Continental noted that strong interest from potential buyers indicates ContiTech's value and potential, confirming the company's focused approach in a dynamic market [6].

Core Viewpoint - Citigroup is anticipating a pretax loss of approximately $1.2 billion from a sale in the fourth quarter of this year [1] Group 1 - The expected loss is significant and indicates potential challenges in the company's financial performance for the upcoming quarter [1]

Core Viewpoint - Arkema S.A. is proposing to sell part of its impact modifiers business and processing aids to the Indian group Praana to streamline operations and focus on strategic activities, with the sale expected to finalize in Q1 2026 [1][4]. Group 1: Business Divestment Details - The divestment includes global Methyl Methacrylate Butadiene Styrene (MBS) copolymers and European and Asian acrylic copolymers (AIMPA), which are part of Arkema's Coating Solutions segment, generating sales of €44 million in 2024 [1][7]. - Arkema will divest its production facility in Vlissingen, Netherlands, which employs 50 people, while retaining the Mobile plant and its American AIMPA businesses [2][7]. Group 2: Buyer Information - Praana, the prospective buyer, is a leader in specialty chemicals and composite materials, with a portfolio that includes Sterling Specialty Chemicals, Galata Chemicals, Artek Surfin Chemicals, and 3B Fibreglass, serving various markets such as construction, automotive, and personal care [3]. Group 3: Strategic Focus and Market Performance - The sale aligns with Arkema's strategy to refocus on higher value-added activities in Specialty Materials, as the company has seen its shares decline by 17.8% over the past year, compared to a 27.1% decline in the industry [4].

Core Viewpoint - Sapporo Holdings is planning to divest its real estate business to a consortium led by KKR for 400 billion yen ($2.6 billion) to focus on its core beer brewing operations [1][2][3] Group 1: Company Strategy - Sapporo aims to concentrate management resources on its primary operations, specifically its beer business, by negotiating the sale of its real estate assets [2] - The funds generated from the sale will be reinvested into the beer business and other areas to enhance corporate value [3] Group 2: Real Estate Business Details - The real estate holdings include the Yebisu Garden Place in Tokyo, which features the Yebisu Brewery along with dining and shopping options [2] - The investment consortium, which includes KKR and PAG, plans to increase property profits by attracting new tenants and considering future redevelopment of Yebisu Garden Place [3] Group 3: Market Reaction - Following the announcement of the sale, Sapporo's shares increased by 2.86% [4]