LONDON: Mobico has reached an agreement to sell its North America School Bus business to global infrastructure investment firm I Squared Capital for an enterprise value of up to $608 million, the company announced Tuesday. The transaction, expected to close in the third quarter of 2025, follows Mobico’s strategic review of its School Bus operations,…
Infront reports steady growth in 2024 amid strategic consolidation and ESG progress
OSLO: Infront, a leading European provider of WealthTech software and market data, announced a 4% revenue increase to €133.8 million in its 2024 annual report, reflecting continued momentum in its long-term strategy. Adjusted EBITDA rose to €36.7 million, up from €30.9 million in 2023, driven by streamlined operations and product integration. Financial Highlights CEO Zlatko…
HKEX to acquire top nine floors of One Exchange Square for new HQ
HONG KONG: Hong Kong Exchanges and Clearing Limited (HKEX) has contracted to acquire the top nine floors of One Exchange Square in Hong Kong as its permanent headquarters, Hongkong Land Holdings Limited announced Tuesday. The transaction, valued at HK$6.3 billion (US$810 million), also includes retail space on Levels 1 and 2, which will be transformed…
Metals One expands into U.S. critical minerals market with uranium and vanadium acquisitions
LONDON: Metals One (AIM: MET1), a company focused on advancing critical minerals projects, announced Wednesday that it has signed a binding term sheet for the conditional acquisition of uranium and vanadium exploration projects in the United States. The move marks the company’s first expansion into North America, securing a foothold in commodities considered essential for U.S.…
Supermarket Income REIT forms joint venture with Blue Owl Capital
LONDON: Supermarket Income REIT (LSE: SUPR) announced a strategic joint venture with Blue Owl Capital, a U.S.-based alternative asset manager with over $250 billion in assets under management. The partnership aligns with SUPR’s strategy to recycle capital at favorable valuations and expand earnings. The joint venture begins with a seed portfolio of eight high-yielding supermarket…
EDF Energy proposes buyout of remaining Pod Point’s shares
LONDON: Pod Point’s board announced on Thursday that EDF Energy Customers Limited (EDF), which already owns about 53% of the company, has proposed to acquire the remaining issued and to-be-issued shares. EDF’s non-binding conditional proposal values the shares at 6.5 pence each in cash, subject to limited due diligence. The potential offer comes amid a…
CVS sells Crematoria operations to Anima Care UK for £42.4 million
LONDON: CVS, a leading UK-listed veterinary group, has announced the sale of its Crematoria operations to Anima Care UK Limited, a subsidiary of Anima Care Holding and part of the Funecap Group, a major European funeral services provider. The transaction, valued at £42.4 million, represents a 10x multiple of the Crematoria’s adjusted EBITDA. The disposal…
Admiral Group to sell U.S. motor insurance business to J.C. Flowers
LONDON: Admiral Group plc has agreed to sell its U.S. motor insurance business, including Elephant Insurance Company and Elephant Insurance Services, to J.C. Flowers & Co., a private investment firm specializing in the financial services sector. The transaction, valued at approximately Elephant’s net asset value, is subject to regulatory approval and is expected to close…
Migrant workers in Canada face lengthy paperwork delays, risking legal status and basic rights
Migrant workers in Canada are experiencing severe delays in processing their work permits and residency applications, leaving many without legal status, access to health care, or the right to work—forcing some into exploitative situations, according to interviews and government data obtained by Reuters. The growing backlog in immigration applications, coupled with shifting policies, has left…
TotalEnergies and Chevron begin production at Ballymore Deepwater Field
PARIS: TotalEnergies announces the start of production from the deepwater Ballymore field offshore U.S., in which the Company has a 40% interest alongside operator Chevron (60%). Located 120 kilometers off the Louisiana coast and launched in May 2022, Ballymore has a total daily gross production capacity of 75,000 barrels of oil per day and 50…
DCC to sell healthcare division in £1.05 billion deal with HealthCo
LONDON: DCC plc announced Monday it has agreed to sell its healthcare division to HealthCo Investment Limited, a subsidiary of funds managed by Investindustrial Advisors Limited. The deal values DCC Healthcare at £1.05 billion on a cash-free, debt-free basis. The transaction, which is subject to regulatory approvals, is expected to be completed in the third…
Iress sells QuantHouse business to BAHA Tech in €17.5 million deal
MELBOURNE: Australian technology firm Iress Limited (ASX:IRE) announced Tuesday it has agreed to sell its European market data subsidiary, QuantHouse, to Vienna-based BAHA Tech Holding AG for €17.5 million (A$31.4 million) in cash. The deal, part of Iress’ strategic transformation program, transfers ownership of QuantHouse, a low-latency market data provider, to BAHA, a privately held…