During Thursday’s Morning trade, Shares of General Electric Company (NYSE:GE), lost -0.43% to $29.42.
General Electric Company, declared that it has accomplished the formerly declared sale of its European fleet services business, representing aggregate ending net investment (ENI) of about $2.8 billion, to Arval, a fully owned partner of BNP Paribas.
“We are happy to complete the sale of our European fleet services business to Arval,�? said Keith Sherin, GE Capital chairman and CEO. “It is another important step as we continue to execute on our plan to sell most of the assets of GE Capital.�?
As formerly declared, GE is embarking on a strategy to focus on its high-value industrial businesses and is selling most GE Capital assets. GE and its Board of Directors have determined that current market conditions are favorable to pursue disposition of these assets. GE will retain the financing “verticals�? that relate to GE’s industrial businesses.
The European fleet services transaction releases about $0.6 billion of capital. GE Capital believes it is on track to deliver about $35 billion of dividends to GE under this plan, as formerly declared (subject to regulatory approval).
General Electric Company operates as an infrastructure and financial services company worldwide. The company’s Power and Water segment offers gas, steam and aeroderivative turbines, nuclear reactors, generators, combined cycle systems, controls, and related services; wind turbines; and water treatment services and equipment.
Shares of Constellium N.V (NYSE:CSTM), inclined 25.43% to $6.55, during its current trading session.
Constellium, stated results for the third quarter ended September 30, 2015. Highlights below are in comparison to the third quarter of 2014 and comprise the acquisition of Wise Metals.
Revenue for the third quarter 2015 were €1.259 billion, an improvement of 36% from the third quarter 2014 and Adjusted EBITDA was €79 million in the third quarter of 2015, an improvement of 10% from the third quarter last year. The improvement in Adjusted EBITDA reflected a total of €8 million positive premium impact and a negative €1 million impact in foreign exchange for the Company when contrast to the same period in 2014. Third quarter 2015 shipments were 374k metric tons, an improvement of 41% from last year. Adjusted EBITDA per metric ton for the third quarter 2015 was €211 contrast to €269 for the third quarter 2014, reflecting the impact of higher volumes of can sheet in our mix as a result of the acquisition of Wise Metals. Not Taking Into Account Muscle Shoals, Adjusted EBITDA per metric ton for the third quarter 2015 was €253.
The inclusion of Muscle Shoals resulted in a contribution of €275 million in revenue and €12 million in Adjusted EBITDA to the P&ARP segment for the third quarter 2015. In addition, Muscle Shoals added 109k metric tons of shipments to Constellium for the same period.
Constellium N.V. engages in the design, manufacture, and sale of specialty rolled and extruded aluminum products for the aerospace, packaging, and automotive end-markets. The company operates in three segments: Aerospace & Transportation, Packaging & Automotive Rolled Products, and Automotive Structures & Industry.
Finally, Shares of CSG Systems International Inc. (NASDAQ:CSGS), surged 10.63%, and is now trading at $37.25, hitting its highest level.
CSG Systems International, Inc. (CSGS), declared that the company’s Chief Executive Officer, Peter Kalan, President and Chief Operating Officer, Bret Griess and Senior Vice President of Investor Relations and Planned Communications, Liz Bauer, will take part in the 2015 RBC Capital Markets Technology, Internet, Media & Telecommunications Conference.
The conference will be held November 10 11, 2015 in New York City, New York. CSG International’s fireside chat is planned for Wednesday, November 11th at 4:30 p.m. ET.
CSG Systems International, Inc. provides business support solutions primarily to the communications industry. The companys products and services assist companies with transaction-centric business models manage the opportunities and challenges associated with capturing, managing, generating, and optimizing the revenue associated with the volumes of customer interactions and then manage the intricate nature of those customer relationships.
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