The Vienna public prosecutor is investigating possible sexual abuse in a care facility for young people with intellectual and cognitive disabilities. The confirmed authority spokeswoman Nina Bussek late Thursday followingnoon at APA request. A supervisor is said to have repeatedly abused an initially 17-year-old between 2016 and 2019 in the facility, which offers young people a workshop and daily structure.
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Vamos — the truck rental and sales company controlled by Simpar — has just acquired Tiête Veículos, paying R$331 million for a Volkswagen/MAM network of truck and bus dealerships with operations in São Paulo, Campinas and Guarulhos.
The transaction values Tiete at 5x EV/EBITDA, compared to 7x that Vamos trades on the Exchange, and 9x earnings, compared to 20x for Vamos.
Vamos will pay R$174 million in cash and the remainder in two annual installments restated by the CDI rate.
With the acquisition, Vamos strengthens its position as the largest dealership network for Volkswagen/MAM trucks and reinforces its presence in the state with the highest GDP in the country.
The transaction also brings opportunities to cross-sellwith the sale of road equipment (through Truckvan), insurance for trucks and buses (through Madre Corretora), and financial products (through Banco BBC).
Finally, the acquisition also increases Vamos’ scale in the dealership segment, which accounts for nearly half of Vamos’ revenues. (The other half comes from leasing trucks, buses and machines).
Last year, Tiete had revenues of R$542 million, with an EBITDA of R$64 million and a net profit of R$37 million. The company has a net cash position of R$11 million.
Vamos earned BRL 5.5 billion, with an EBITDA of BRL 1.9 billion and a net profit of BRL 668 million.
Tiete’s EBITDA margin (13%) is similar to the margin that Vamos operates in the concessionaires segment.
“If the market completely re-prices the acquired business to the current multiple of Vamos, we estimate a value creation of BRL 130 million (around 1% of Vamos’ market cap),” Santander wrote. “However, we don’t see a re-rating complete as fair given the high volatility of earnings in the dealership business, which is now in a bull cycle.”
For JP Morgan, the transaction was positive considering the “attractive valuation” and the fact that the transaction “does not put pressure on the company’s leverage,” which the bank estimates should end the year at 3.4x.
Bradesco also praised the multiple of the transaction and said that it should add R$0.11 to the fair value of Vamos, of R$25.
The shares of Vamos trade at R$ 12.20, with the company worth R$ 12 billion on the Exchange.
Peter Arbex
In the second half of April, the new Civil Guard of Roads will operate: Ricardo Gallardo
written by Alexandra Hartman Editor-in-Chief
The Governor of San Luis Potosi, Ricardo Gallardo Cardona, highlighted that with the start of operations of the new Roads Division of the State Civil Guardwhich is expected to start in the second half of April, the highway axes of San Luis Potosí would have effective surveillance, both preventive and reactionary.
The State Mandatory commented that this new division will be of great value, since citizens and drivers will be supported in the event of any particular accident or assistance. He explained that the vehicle park that will be deployed for these functions is in the process of marking.
“These are 50 new vehicles that have the best technology for our police elements to carry out their work,” said Gallardo Cardona, noting that for months special training and social proximity were prepared for personnel from the Ministry of Security and State Citizen Protection (SSPCE), at the State Security Academy under prior selection of profiles.
The Head of the State Executive reiterated the Government’s commitment to change to guarantee the certainty and peace of mind for the public that they will be able to travel safely on the roads and highways of San Luis Potosí, since this new division will help in tasks that are typical of the Guard National.
AR
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Idaho penalizes those who help a minor to have an abortion
written by Alexandra Hartman Editor-in-Chief
the governor of Idaho (USA) Brad Little passed a new law on Wednesday that will penalize adults who help minors to have an abortion or obtain abortion pills.
The legislation makes it illegal to assist a person under the age of 18 to obtain an abortion, transport them to a state where the procedure is legal, or provide them with abortion pills without the permission of their parents or legal guardians, according to text approved by the state congressmen last week.
People who violate this new law may be charged with “abortion trafficking” and face a maximum sentence of five years imprisonment. jailstipulates the regulations.
Idaho is the first state in the country to greenlight such a restriction, which penalizes out-of-state travel to obtain abortions.
Planned Parenthood, which advocates for high-quality, affordable reproductive and medical care in the country, called the recent law “despicable” and said it would do everything possible to repeal it.
“Idaho legislators have flown under the radar and passed the toughest anti-abortion laws across the country,” the organization wrote on its Twitter account.
Dozens of states across the country have passed laws banning all or part of the voluntary termination of pregnancy since the Supreme Court overturned the “Roe v. Wade” ruling, which since 1973 protected a woman’s right to choose.
Since the ruling, issued in June of last year, 18 of the 50 states have banned abortion in the US or have severely restricted it, and in 13, access to this service is practically impossible although there are exceptions, according to data from Planned Parenthood.