{"id":100241,"date":"2025-01-31T00:00:00","date_gmt":"2025-01-31T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/this-morning-redbird-imi-eyes-production-business-merger-with-itv-saliks-variable-toll-pricing-system-to-be-rolled-out\/"},"modified":"2025-01-31T00:00:00","modified_gmt":"2025-01-31T00:00:00","slug":"this-morning-redbird-imi-eyes-production-business-merger-with-itv-saliks-variable-toll-pricing-system-to-be-rolled-out","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2025\/01\/31\/this-morning-redbird-imi-eyes-production-business-merger-with-itv-saliks-variable-toll-pricing-system-to-be-rolled-out\/","title":{"rendered":"THIS MORNING: RedBird IMI eyes production business merger with ITV + Salik\u2019s variable toll pricing system to be rolled out"},"content":{"rendered":"

Good morning, lovely people, and happy FRIDAY. <\/strong>It\u2019s the final day of the first month of the year, and we\u2019re ringing in February with a nice, brisk issue. We have a fresh investment from Abu Dhabi sovereign wealth fund ADQ in critical minerals, and news that Dubai\u2019s property prices rose 27.5% in 4Q 2024. Plus: We have another batch of earnings for you, including from our friends at Mashreq. Let\u2019s dive in. <\/p>\n

WEATHER- Expect more cloudy conditions today: <\/strong>Partly cloudy conditions are expected to persist across the country through the weekend, accompanied by a chance of light rainfall, blowing winds and dust, and a drop in temperatures, according to the National Center of Meteorology (pdf)<\/a>. Dubai <\/strong>will see the mercury hit 24\u00b0C today, with an overnight low of 15\u00b0C, while temperatures will hit 20\u00b0C in Abu Dhabi<\/strong>, with an overnight low of 17\u00b0C.<\/p>\n

WATCH THIS SPACE- <\/p>\n

<\/a> #1- Abu Dhabi-backed RedBird IMI and British broadcaster ITV are in talks to pot<\/strong>entially merge their production businesses<\/strong>, people familiar with the matter told Reuters<\/a>. The potential merger could take place after ITV carves out its broadcast business, merging it with RedBird IMI\u2019s All3Media, which it acquired for GBP 1.5 bn<\/a> last year, with both RedBird IMI and ITV holding stakes in the studios entity, one of the people said. The merger would create one of Europe\u2019s largest production companies, with some GBP 3.2 bn in annual revenues. <\/p>\n

REMEMBER- RedBird IMI is still <\/strong>trying to sell British newspaper The Telegraph<\/a><\/strong> after withdrawing its bid to acquire the publication last year, following months of opposition from the UK government. Options include potentially selling to US fund manager RedBird Capital, or to Leon Black, Apollo Global Management\u2019s co-founder, and New York Sun owner Dovid Efune. <\/p>\n

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<\/a> #2- Adnoc could be inching closer to bid on Shell\u2019s South African downstream asset<\/strong>s<\/strong>, as a valuation dispute with its local partner Thebe Investment nears resolution, unnamed sources told Bloomberg<\/a>. Shell owns a network of 600 service stations across the country and expects to raise up to USD 1 bn<\/a> from this transaction. Other interested parties include Saudi Aramco and trading company Trafigura. The company is currently working with Rothschild to manage the planned sale.<\/p>\n

REMEMBER- Adnoc was mulling the acquisition since <\/strong>May 2024<\/a><\/strong>, which was then valued at USD 800 mn. The sale would include the company\u2019s aviation, marine, construction and road, trading and supply, commercial fuels, and lubricant operations. South Africa\u2019s chemicals and energy player Sasol, Switzerland-based Puma Energy, and Swiss company Glencore are considering a potential bid.<\/p>\n

PSAs-<\/p>\n

<\/a> #1- Salik will implement its <\/strong>new variable road toll pricing<\/a><\/strong> starting today<\/strong>, The National<\/a> reports. <\/p>\n

Here\u2019s the breakdown:<\/strong><\/p>\n