Kimberly Redmond | |

European electric vehicle charging company Allego Holding will go public via a merger with Spartan Acquisition Corp III, a special purpose acquisition company (SPAC) backed by private equity giant Apollo Global Management Inc.

The deal, announced Wednesday, values Allego at $3.14 billion. The transaction will generate $702 million in proceeds, including $150 million from a private placement.

Reuters | |

The United States and Germany on Wednesday unveiled an agreement on the Nord Stream 2 gas pipeline under which Berlin pledged to respond to any attempt by Russia to use energy as a weapon against Ukraine and other Central and Eastern European countries.

The pact aims to mitigate what critics see as the strategic dangers of the $11 billion pipeline, now 98% complete, being built under the Baltic Sea to carry gas from Russia's Arctic region to Germany.

AP News | |

At least 110 people have died in devastating floods across parts of western Germany and Belgium, officials said Friday, as rescue operations and the search for hundreds still unaccounted for continued.

German President Frank-Walter Steinmeier said he was “stunned” by the devastation caused by the flooding and pledged support to the families of those killed and to cities and towns facing significant damage.

Kimberly Redmond | |

Visa Inc (NYSE: V) announced Thursday it agreed to pay 1.8 billion euros ($2.2 billion) for Tink, a Swedish open banking platform whose digital services connect more than 3,400 banks and financial firms across Europe.

Under the agreement Tink will retain its brand and current management team and its headquarters will remain in Stockholm.

Reuters | |

Air France-KLM sales are showing little sign so far of a travel upturn it still hopes to see by summer, the airline group said on Thursday, as it posted a wider first-quarter operating loss.

Air France-KLM said it expects to operate 50% of its pre-pandemic flight capacity in the second quarter under way, ramping up to 55% to 65% in July-September.

Kimberly Redmond | |

For the first time in two months, new COVID-19 cases declined significantly in Europe, but infection rates remain high, according to the World Health Organization (WHO).

Despite the downward trend, WHO regional director for Europe, Dr. Hans Kluge, warned Thursday that the threat posed by coronavirus “remains present.”

Reuters | |

Ryanair expects to lose close to 1 billion euros ($1.2 billion) in its current financial year, by far its worst ever performance, but Chief Executive Michael O’Leary forecast a “dramatic recovery” this summer on vaccine roll-outs.

The Irish low-cost airline, Europe’s largest, forecast a loss of between 850 and 950 million euros in its current financial year, which ends on March 31, around 5 times larger than its previous record annual loss posted in 2009.