November 04, 2022
Good morning and Happy Friday!
Situational awareness: EV maker Polestar has raised $1.6 billion from its two major shareholders: Volvo and PSD Investment Ltd., the entity controlled by Chinese billionaire Li Shufu.
1. Climate Deals' merger Monday
Oct. 31 — Verisk agreed to sell Wood Mackenzie to Veritas Capital for around $3.1 billion.
Why it matters: The deal is a strong endorsement for the business that WoodMac has built, and it underscores the demand behind research and analytics for the renewable energy sector — a major part of the company's business, Axios' Michael Flaherty wrote.
Flashback: In 2012, private equity firm Hellman & Friedman agreed to buy WoodMac for £1.1 billion.