LONDON: James Fisher and Sons has announced the acquisition of 60% of the share capital of Continental Participação E Administração Ltda., the holding company of Serviços Marítimos Continental S.A. for a total cash consideration of £7.5 million- £4.9 million payable on completion and £2.6 million payable in January 2022. Continental is an established air diving…
Author: NNR
Avon Rubber to acquire 3M’s Ballistic-Protection Business
LONDON: Avon Rubber has signed an agreement to acquire 3M’s ballistic-protection business and the rights to the Ceradyne brand for an initial cash consideration of approximately $91 million, subject to closing and customary adjustments. A further contingent cash consideration of up to $25 million is payable depending on the outcome of pending tenders, a release…
UKOG to acquire Tellurian’s subsidiary Magellan Petroleum
LONDON: UK Oil & Gas (UKOG) has signed a binding heads of terms with Tellurian Investments LLC to acquire the entire share capital of its subsidiary Magellan Petroleum (UK) Investment Holdings Limited for a total consideration of £12 million in cash and shares, a release issued to London Stock Exchange (LSE) noted. Magellan holds a…
CentralNic Group completes acquisition of Hexonet Group
LONDON, UK: CentralNic Group, the global internet platform that derives revenue from the subscription sales of internet domain names, has announced the acquisition of Hexonet Group is now complete. Hexonet, with operations in Canada and Germany, sells domain name subscriptions directly and via more than a thousand resellers in over 110 countries, managing over 3.8…
Eight Capital Partners acquires €2 million receivables
LONDON: Eight Capital Partners has completed the acquisition of a €2 million receivable as outlined in its announcement of 1 June 2019 Notice of AGM. Finance Partners Group (FPG) is an Italian financial services company that, among other things, takes minority stakes in private companies seeking future listings on public markets. Its main holding is…
Energy caps to fall this winter due to lower wholesale costs: Ofgem
LONDON, UK: The default price cap is set to fall from £1,254 to £1,179 from 1 October for this winter period (October-March). The pre-payment meter cap will fall from £1,242 to £1,217 per year for the same six month period. As a result, energy bills will fall this winter for around 15 million households who…
CentralNic acquires international domain name retailer Ideegeo for $5.2mn
LONDON: CentralNic Group has completed the acquisition of the entire share capital of Ideegeo Group Limited for $5.2 million of which $520,000 constitutes a deferred payment, held in escrow until May 2021, a release issued to London Stock Exchange (LSE) noted. CentralNic is the global internet platform that derives revenue from the subscription sales of…
MCB posts 14% growth in earnings
KARACHI: MCB Bank Limited (MCB) unveiled its 2QCY19 ended June 30, 2019 consolidated net earnings at Rs5.41 billion (EPS Rs4.59) versus Rs4.76 billion (EPS Rs3.99) recorded during the same quarter last year, exhibiting a rise of 14%YoY in profitability. Earnings of the bank arrived in-line with estimates. Consistent with previous payouts, MCB declared interim cash…
UBL posts 48% growth in earnings
KARACHI: United Bank Limited (UBL) unveiled its 2QCY19 ended June 30, 2019, standalone net earnings at Rs5.38 billion (EPS Rs4.39) versus Rs3.63 billion (EPS Rs2.96) recorded during the same quarter last year, exhibiting a significant rise of 48% YoY, primarily due to low-base effect as UBL booked hefty one-off pension charge (Rs2.0 billion) in 2QCY18….
Pakistan seizes Indian origin expired sugar destined for Afghanistan
KARACHI: Directorate General of Transit Trade has seized large number of Indian origin consignments mis-declared as ‘White Crystalline Sugar’, destined to be consumed in Afghanistan, as the sugar was expired and unfit for human consumption. The value of the seized goods is $5.7 million, customnews.pk reported. Transit of sugar unfit for human consumption through the…
Iconic Labs to acquire Social Alchemist Limited
LONDON: Iconic Labs has agreed Heads of Terms to acquire social media agency Social Alchemist Limited, which will bolster Iconic Labs’ offering, build critical mass within its social media consultancy division, enhance content generation and importantly provide proprietary distribution channels. Iconic Labs is a multi-divisional new media and technology business. Social Alchemist is a social…
NQ Minerals makes further investment in Tasmania Energy Metals
LONDON: NQ Minerals Plc has made a further strategic investment in private Tasmanian mining company, Tasmania Energy Metals to enhance the company’s operations and prospects, a release issued to London Stock Exchange (LSE) noted. As previously announced, NQ Minerals and Tasmania Energy Metals entered into a convertible loan instrument for £150,000 where NQ Minerals could…