LONDON, UK: Custodian Property Income REIT plc (CREI) and abrdn Property Income Trust Limited (API) have agreed to merge in an all-share deal that values API at £237 million. The merger will be implemented by a Court-approved scheme of arrangement, under which API shareholders will receive 0.78 new CREI shares for each API share they…
Author: Ali Mirza
Murray Auchincloss appointed bp chief executive officer
LONDON, UK: bp announced today that the bp board has appointed Murray Auchincloss as bp chief executive officer with immediate effect. Murray, who has been interim CEO since September 2023, will continue as a member of the bp board. BP CEO Bernard Looney quits over lack of transparency on personal relationships His appointment has been made…
Air Astana Group plans IPO on London Stock Exchange
Admission to Trading on the London Stock Exchange LONDON, UK: Air Astana, the largest airline group in Central Asia and the Caucasus regions based on market share, today announced its intention to proceeding with an initial public offering (IPO) of its GDRs and a concurrent offering in Kazakhstan in the form of Shares and GDRs….
LondonMetric Property to acquire LXi REIT in a £1.9 billion deal
LONDON: LondonMetric Property and LXi REIT have reached agreement on the terms of a recommended all-share merger. The terms of a proposed all-share merger between LondonMetric Property and LXi REIT have been agreed upon. As per the agreement, LondonMetric Property will take over all the existing and future ordinary shares of LXi at a ratio…
Oxford Instruments plc has acquired First Light Imaging SAS for €18.7 million
LONDON, UK: Oxford Instruments plc today announced the acquisition of First Light Imaging SAS, a scientific camera specialist. Based near Aix-en-Provence, France, and founded in 2011, First Light specialises in the design and manufacture of high-speed, low-noise scientific cameras for infrared and visible imaging, with applications in astronomy and life sciences. It will become part…
Ferguson plc acquires Yorkwest Plumbing Supply, Grove Supply, and Harway Appliances
WOKINGHAM, ENGLAND: Ferguson plc has signed definitive purchase agreements to acquire Yorkwest Plumbing Supply Inc. and Grove Supply, Inc., and closed on the acquisition of Harway Appliances. These acquisitions have aggregate annualized revenues of approximately $220 million. Yorkwest Plumbing Supply Inc. Yorkwest is a leading distributor of plumbing, municipal, hydronics, institutional, HVAC and industrial products…
Ithaca Energy’s Chief Executive Officer, Alan Bruce to step down
LONDON, UK: Ithaca Energy, a leading independent oil and gas operator in the North Sea announced that Alan Bruce, Chief Executive Officer, having led the Company through a successful IPO and first year as a listed company, has agreed with the Board that he will step down from his role as Chief Executive Officer to…
LPA Group has acquired Red Box International Holdings
LONDON, UK: LPA Group plc, the innovation-led engineering specialist in electronic and electro-mechanical components and systems, announced the acquisition of Red Box International Holdings, a UK manufacturer of aviation ground power equipment. The total consideration for the acquisition is expected to be approximately £1.1m, of which £275,000 is being satisfied on completion, and £825,000 payable…
B.P. Marsh and Partners acquire 30% shareholding in Ai Marine
LONDON: B.P. Marsh and Partners Plc (AIM:BPM), the specialist private equity investor in early stage financial services businesses, it has acquired a 30% Cumulative Preferred Ordinary shareholding in Ai Marine Risk Limited, a London-based Managing General Agency (MGA). B.P. Marsh has agreed to provide up to £1.6m of funding via a mixture of equity and…
TEAM plc to acquire Homebuyer Financial Services Limited (HBFS) for £2.4 million
LONDON, UK: TEAM plc has exchanged contracts to acquire the entire issued share capital of Homebuyer Financial Services Limited (HBFS), a Jersey based financial planning business, for total consideration of £2.4 million in cash. Founded in 1988, HBFS is an established Jersey based financial planning business advising local clients on investments, pensions and protection policies….
Wellspring Worldwide offers to acquire Sopheon Plc for £115 million
Iops buyer inc., a wholly-owned subsidiary of Wellspring Worldwide Inc., has offered to takeover Sopheon Plc at the rate of £10 in cash per share. The acquisition values the entire issued and to be issued share capital of Sopheon at approximately £115 million. Sopheon is a leading provider of end-to-end innovation management software solutions, which…
Daihatsu and Toyota halt shipments of 64 models after certification scandal
Daihatsu Motor Co., Ltd. (Daihatsu) and Toyota Motor Corporation (Toyota) announced on Wednesday that they will temporarily suspend shipments of all Daihatsu-developed models currently in production, both in Japan and overseas, after an investigation revealed widespread procedural irregularities in the certification process. The investigation, conducted by an independent third-party committee chaired by Makoto Kaiami, found…