McDonald’s to test meat-free burger next year; Beyond Meat stock falls

first_imgShares of Beyond Meat, which made the meat-free patties for McDonald’s Canadian test, fell 6% in morning trading on the news. The stock was briefly halted for volatility.McDonald’s ended the Canadian test of its meatless burger in April and has since said that it has no plans to bring back its P.L.T. burger at this time.Other international McDonald’s markets have found more success with meatless burgers. Restaurants in Germany, for example, have added veggie burgers made by Nestle to their menus. – Advertisement – This is breaking news. Please check back for updates. – Advertisement –center_img McDonald’s will test a meat-free burger in several markets next year as it adds plant-based menu offerings, which it has coined “McPlant.”International President Ian Borden said that McPlant was created “by McDonald’s and for McDonald’s.” Borden said that the McPlant line could also include chicken substitutes.- Advertisement –last_img read more

Partners Group buys out investors in Nordic Niam portfolio

first_imgPartners Group has bought a real estate portfolio in Finland and Sweden for €300m at a discount on the secondary market.The Swiss private market investment manager acquired the retail and office properties from investors in a fund managed by Nordic investment manager Niam.The 380,000sqm portfolio, built up in 2006-07, comprised the remaining assets in Niam Fund III.The fund will be wound up, but Niam will continue to manage the properties with Partners Group. Fund manager Urban Ehrling said he was leaving Niam following the transaction.Partners Group said it “provided an off-market solution, allowing an exit for investors and time to maximise the value creation potential of all remaining assets over the next 3-5 years”.Fabian Neuenschwander, vice-president in real estate secondaries, said: “The Finnish and Swedish real estate markets will continue to perform well in the coming years, and we see this transaction as a unique opportunity for our clients to benefit from this development.”As part of the deal, done in June and July, Partners Group was involved in negotiating the refinancing of all the portfolio’s existing debt facilities, as well as the buyout of minority shareholders and joint-venture partners.It was also involved in preparing a mezzanine facility in the capital structure of one of the investments at preferential terms.Niam said it would work with Partners Group over the next few years to execute a strategy for generating value in the properties.Pekka Salakka, senior director at Niam, said: “Niam is very familiar with these properties because we have been successfully operating these assets since the build-up of the portfolio.”Partners Group has made a number of transactions on the secondary market in recent years.Last month it said it bought 31 investors out of the $1bn (€776m) troubled Chinese property fund Trophy Property Development.last_img read more