LONDON, UK: Financials Acquisition Corp, a special purpose acquisition company (SPAC) sponsored by FINSAC LLP, which is a limited liability partnership founded by William Allen and Andrew Rear, announced its intention to float on the London Stock Exchange. Financials Acquisition Corp intends to raise £150 million through the listing. The company will place 15 million…
Author: Bernice Miles
SAE secures funding from Scottish Enterprise to get tidal turbines back in the water
LONDON, UK: Simec Atlantis Energy Limited (SAE) announced that MeyGen has secured a non-convertible loan of £2.5m from Scottish Enterprise, which will enable the redeployment of the remaining two turbines at the MeyGen site within the next 12 months. This follows the successful deployment in March 2022 of the AR1500, 1.5MW tidal turbine. The first…
Brickell PC Insurance to acquire Randall & Quilter in a £482mn deal
LONDON, UK: Brickell PC Insurance Holdings agreed the terms of a recommended cash acquisition of the entire issued ordinary share capital of Randall & Quilter Investment Holdings (R&Q) as well as $100 million of new equity funding. The acquisition will be undertaken by way of a merger under the Bermuda Companies Act. Under the terms…
Royal Bank of Canada to acquire Brewin Dolphin Holdings for £1.6bn
LONDON, UK: RBC Wealth Management (Jersey) Holdings, a subsidiary of Royal Bank of Canada (RBC), has made a recommended all cash offer to acquire Brewin Dolphin Holdings. Under the terms of the acquisition, Brewin Dolphin shareholders will be entitled to receive 515 pence for each Brewin Dolphin Share. The acquisition values the entire issued and…
Agility Public Warehousing Company to acquire Menzies plc for £571mn
LONDON, UK: GIL International Holdings V Limited, a wholly-owned subsidiary of Agility Public Warehousing Company, has made a recommended cash offer to acquire Menzies plc at the rate of 608 pence in cash per Menzies share. The acquisition values the entire issued and to be issued ordinary share capital of Menzies at approximately £571 million…
National Grid to sell 60% in UK gas transmission and metering business for £2.2bn
LONDON, UK: National Grid plc has agreed to sell a 60% equity interest in its UK gas transmission and metering business (NGG) to a consortium of long-term infrastructure investors. The consortium is comprised of Macquarie Asset Management, a global asset manager and the world’s largest infrastructure manager, and British Columbia Investment Management Corporation (BCI), one…
Brookfield’s Bidco to acquire Irish Hibernia REIT for €1.089bn
LONDON, UK: Benedict Real Estate Bidco Limited, a subsidiary of one of Brookfield’s real estate private funds, has agreed to acquire entire share capital Hibernia REIT plc at the rate of €1.634 for each Hibernia REIT share. The acquisition values the entire issued and to be issued share capital of Hibernia REIT at approximately €1.089…
Vulcan Industries acquires sheet metal fabrication company, Aftech
LONDON, UK: Vulcan Industries plc (AQSE: VULC) has acquired the entire share capital of Aftech Ltd and its dormant parent company from Unity Global – FZCO. Aftech is a sheet metal fabrication company specialising in laser cutting, bending and forming. Aftech complements the existing fabrication businesses within the Group by introducing additional capacity, capabilities and…
Future plc acquires WhatCulture.com and Waive
LONDON, UK: Future plc (LSE: FUTR), the global platform for specialist media, announced the acquisition of WhatCulture.com, a digital-only entertainment publisher and Waive, a data insight platform. WhatCulture is a digital-only brand focused on the gaming and entertainment market. WhatCulture’s website and 11 YouTube channels have respectively 3m users and over 8m subscribers, and c.70%…
Electric air taxi infrastructure provider, Skyports raises $23mn Series B funding
LONDON, UK: Skyports, the electric air taxi infrastructure and drone services provider, has raised USD 23 million in the first close of its Series B funding round. The capital, from a combination of new and existing investors, will enable Skyports to consolidate its position as a global leader in the advanced air mobility infrastructure and…
Lucky Cement commissioned 660MW super critical coal-fired plant in Karachi
KARACHI, PAKISTAN: Lucky Electric Power Company Limited (LEPCL), a wholly owned subsidiary of Lucky Cement, has successfully commissioned its 660 MW super critical, lignite coal-based power plant at Deh Ghangiaro, Bin Qasim, Karachi. “The power plant was synchronized with the national grid towards the end of CY 2021 and since then has been involved in…
PZ Cussons acquires 92% interest in Childs Farm for £36.8mn
LONDON, UK: PZ Cussons plc has acquired the entire issued share capital of Childs Farm. Childs Farm is the UK’s favourite baby & child toiletries brand based in Basingstoke, Hampshire, where it employs 35 staff. Founded by mum of two, Joanna Jensen, as a solution to her own daughters’ sensitive and eczema prone skin, the…