OSLO, NORWAY: Sikri Holding AS, a leading provider of software and services towards the public and private sectors, has entered into a binding agreement with the Kingdom of Sweden regarding the acquisition of 100% of the shares in Metria AB. Metria provides IT solutions and services in GIS, geodata, business and real estate information and…
Author: Chenos Kahn
Aker Solutions acquires Norwegian hydropower company, Rainpower
OSLO, NORWAY: Aker Solutions has agreed to acquire Rainpower Holding AS, a leading technology provider to the hydropower industry. The transaction is expected to be completed during the second quarter of 2022. The purchase price is about NOK 100 million, with an additional discretionary element which may bring the purchase price to NOK 150 million….
Aker Horizons to merge with Aker Offshore Wind and Aker Clean Hydrogen
OSLO, NORWAY: Aker Horizons ASA announced merger plans with Aker Offshore Wind AS and Aker Clean Hydrogen AS. Aker Horizons and Aker Offshore Wind (AOW) to combine in an all-stock merger that will reposition AOW as a privately held subsidiary of Aker Horizons, with the intention to combine AOW with its portfolio company Mainstream Renewable…
SHUAA Capital acquires Allianz Marine and Logistics Services Holding
UNITED ARAB EMIRATES: SHUAA Capital psc (DFM: SHUAA), the leading asset management and investment banking platform in the region, announced the acquisition of Allianz Marine and Logistics Services Holding Limited by its managed funds. The transaction is one of the largest M&A deal in the maritime offshore sector in the Middle East in recent years…
Quadpack investing in German manufacturing facilities to meet increased demand
PARIS, FRANCE: International beauty packaging manufacturer and provider Quadpack is investing over €6 million at its German manufacturing facilities in Kierspe, to meet increased market demand. The investment will go towards the creation of a decoration centre and the expansion of its injection-moulding and assembly capacity. Already a reference in thick-walled PET injection, Quadpack aims…
Stora Enso initiates process to divest four paper production sites
HELSINKI, FINLAND: Stora Enso has initiated a sales process for a possible divestment of four paper production sites. In line with Stora Enso’s strategy, paper is not a strategic growth area for the Group. The divestment intent is aligned with the Group’s strategy to focus on long-term growth potential for its renewable products in packaging,…
Terje Pilskog takes over as CEO of Scatec ASA
OSLO, NORWAY: The Board of Directors of Scatec ASA has appointed Terje Pilskog (51) as the company’s new Chief Executive Officer. Raymond Carlsen (67) will step down after 13 years and the change will take place on 1 May. Terje Pilskog comes from the position as EVP Project Development. “Terje Pilskog has been instrumental in…
Mitsui to acquire 27.5% in Mainstream Renewable Power for EUR 575mn
OSLO, NORWAY: Mainstream Renewable Power, the global renewable energy company, announced that Mitsui & Co., Ltd. has agreed to invest EUR 575 million in Mainstream in the form of new common shares, corresponding to a 27.5 percent equity stake in the company. Mitsui will take a long-term active role in the growth of the company,…
Aker collaborates with Microsoft for scaling of the carbon capture value chain
OSLO, NORWAY: Aker Carbon Capture has signed a Memorandum of Understanding (MoU) with Microsoft to pursue joint innovation and explore opportunities to offer services in the Carbon Capture, Utilization and Storage (CCUS) market. Aker Carbon Capture and Microsoft will demonstrate the full value chain of carbon reduction and removal utilizing Aker Carbon Capture’s proprietary CCUS…
SHUAA Capital acquires majority stake in Middle East fintech, Souqalmal
UNITED ARAB EMIRATES: SHUAA Capital (DFM: SHUAA), the leading asset management and investment banking platform in the region, has completed a strategic investment in UAE-based fintech, Souqalmal. The investment will provide growth capital, allowing Souqalmal to execute on an ambitious growth plan over the next 24 months. Following the investment, Ambareen Musa, Founder and CEO…
Dubai Electricity and Water Authority to float on Dubai Financial Market offering 3.25bn shares
DUBAI, UAE: Dubai Electricity and Water Authority (DEWA) has announced its intention to float on the Dubai Financial Market (DFM) offering 3.25 billion shares, representing 6.5% of DEWA’s issued share capital. All shares to be offered represent sale of existing shares held by the Government of Dubai. Dubai Electricity and Water Authority (DEWA) is the exclusive provider…
Atea Denmark acquires KMD’s hardware and software business
OSLO, NORWAY: Atea Denmark has entered an agreement to acquire KMD’s hardware and infrastructure software business. The acquired business sells hardware and standard software to customers primarily in the Danish market. The business has 24 employees across three office locations in Denmark. KMD’s hardware and software business portfolio has three-digit million in sales and is…