LONDON: The Board of UIL Limited has proposed to enter into agreements to sell all of its shares in Somers Limited (Somers). UIL, an exempted closed-end Bermuda incorporated investment company, is planning to enter into an agreement with General Provincial Life Pension Fund Limited (GPLPF) to sell Somers shares held by UIL to GPLPF in…
Author: NNR
Hyloris Pharmaceuticals SA partners with China’s Grand Life Sciences
LIEGE: Belgian biopharmaceutical company Hyloris Pharmaceuticals SA said on Monday it has signed an exclusive license and distribution agreement with China’s Grand Life Sciences Group Co., Ltd. for HY-094, its investigational injectable iron therapy. The partnership grants Grand Life Sciences the rights to develop and commercialize HY-094 in China, a market for intravenous (IV) iron…
Orascom’s Weitz breaks ground on Four Seasons resort in Colorado’s Telluride
MOUNTAIN VILLAGE: The Weitz Company, a U.S. subsidiary of Orascom Construction PLC, has begun construction on the Four Seasons Resort and Residences Telluride, a landmark luxury development in Colorado’s renowned ski destination, the company announced on Monday. The project, located on the last remaining snow-front site in the Town of Mountain Village, will be the first…
Saudi Arabia’s Almasar to Float 30% Stake in Tadawul IPO Following CMA Approval
RIYADH: Almasar, the Amanat Education platform, announced plans to proceed with an initial public offering (IPO) of 30,720,400 ordinary shares—representing 30% of its total issued share capital—on the Saudi Exchange (Tadawul), following regulatory clearance. The Capital Market Authority (CMA) of Saudi Arabia granted approval on Sept. 29, 2025, for the listing, marking a key milestone…
Trek 2000 partners with Aboard AI to develop aviation safety system
SINGAPORE: Singapore’s Trek 2000 International Ltd said on Monday its subsidiary has entered a strategic partnership with U.S.-based Aboard AI Inc to co-develop an artificial intelligence-driven solution for aviation safety and fleet management. The system will leverage Trek’s patented high-speed wireless memory technology and Aboard AI’s algorithms to analyse real-time flight data, aiming to identify early…
Cash Converters launches $25 million equity raising to fund franchise store acquisition
SYDNEY: Australian pawnbroking and personal lender Cash Converters International Ltd said on Monday it is raising roughly A$25 million ($16.6 million) in an equity offering to help fund the proposed acquisition of a network of 29 franchise stores in the country. The company, listed on the Australian Securities Exchange (ASX: CCV), will conduct the raising…
Australian miner Lodestar Minerals to acquire Arizona rare earth project
SYDNEY: Australian explorer Lodestar Minerals Limited (ASX: LSR) has agreed to acquire the Virgin Mountain heavy rare earth project in Arizona, a site rich in heavy rare earth elements (HREEs) critical for defence, clean energy, and technology sectors, the company announced on Monday. The move comes as China, which dominates global rare earth production, further…
Novartis to buy Avidity Biosciences in $12 billion RNA therapeutics bet
ZURICH: Swiss drugmaker Novartis (NOVN.S) said on Sunday it has agreed to acquire U.S. biotech firm Avidity Biosciences (RNA.O) in a deal valued at approximately $12 billion, expanding its reach into the promising field of RNA therapeutics. Under the terms of the agreement, Novartis will pay $72 per share in cash for Avidity, representing a…
Grindr’s largest shareholders offer to take company private at $18 per share
WEST HOLLYWOOD: Dating and social networking app Grindr Inc. (NYSE: GRND), often called “the Global Gayborhood in Your Pocket™,” confirmed Friday it has received a non-binding, unsolicited proposal from its largest shareholders, Ray Zage and James Lu, to take the company private. The offer prices the company at $18.00 per share in cash, a premium…
Gravity acquires Cityspan to create unified government financial platform
TAMPA: Financial automation firm Gravity said on Thursday it has acquired grants management software provider Cityspan, a move that expands its product portfolio as it builds an all-in-one financial operations platform for government clients. The deal, terms of which were not disclosed, combines Gravity’s core disclosure and budgeting automation with Cityspan’s cloud-based systems for managing…
Electro-Mechanical LLC acquires Maryland based Powercon Corporation
BRISTOL: Electro-Mechanical, LLC, a leading U.S. manufacturer of medium voltage switchgear and electrical apparatus, announced Friday it has acquired Powercon Corporation, a Maryland-based provider of custom-designed power distribution systems. Founded in 1959, Powercon brings more than six decades of engineering expertise in medium voltage switchgear, e-houses, and modular substation power systems. The acquisition strengthens Electro-Mechanical’s…
Revel Collective launches formal sale process amid financial struggles
LONDON: The Revel Collective plc, the operator behind Revolution Bars, Revolución de Cuba, and Peach Pubs, has launched a strategic review and formal sales process as it grapples with mounting financial pressures and a sharp decline in revenue. The company announced Thursday that it is exploring a range of options, including a potential sale of…