PARIS, FRANCE: Alstom and Plastic Omnium have signed a Memorandum of Understanding (MoU) to collaborate on the development of high-end hydrogen storage systems for the railway sector. Alstom and Plastic Omnium will cooperate and combine their complementary know-how and capabilities in their respective domains. A dedicated team has been set up to manage the technical…
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Pernod Ricard agrees to buy The Whisky Exchange
PARIS, FRANCE: Pernod Ricard has signed an agreement for the acquisition of The Whisky Exchange, a leading spirits online and physical retailer and a reference for global whisky and fine spirits lovers, a news release said. Since its creation by Sukhinder and Rajbir Singh in 1999, The Whisky Exchange, based in the UK, has become…
IDEX selected for digital currency solution from Union Smart
OSLO, NORWAY: IDEX Biometrics informed that the Union Smart Card of China is utilizing the company’s fingerprint authentication solution to secure the Cold Wallet Visual Payment Card. Union Smart has developed this “cold wallet” card solution in collaboration with six major banks for use in implementation of China’s Digital Currency/Electronic Payment (DC/EP) initiative. IDEX Biometrics…
Yara curtails ammonia production due to increased gas prices
OSLO, NORWAY: Record high natural gas prices in Europe are impacting ammonia production margins, and as a result Yara International is curtailing production at a number of its plants. Including optimization of on-going maintenance, Yara will by next week have curtailed around 40% of its European ammonia production capacity. Yara will continue to monitor the…
Elliptic Labs features AI virtual smart sensor on Xiaomi Mi 11T
OSLO, NORWAY: Elliptic Labs, a global AI software company and the world leader in AI Virtual Smart Sensors, will feature its AI Virtual Proximity Sensor INNER BEAUTY on the new Xiaomi Mi 11T smartphone. Xiaomi is the second-largest smartphone manufacturer in the world, and the Xiaomi Mi 11T, powered by MediaTek’s Dimensity 1200 chipset, is…
ECIT acquires 70% ownership in WLCOM
OSLO, NORWAY: ECIT AS has acquired 70% of WLCOM, a software and consulting company with more than 25 years of experience, which will strengthen the IT division in ECIT. Conzigma AS will hold 30% stakes in WLCOM. The acquisition is settled partly with cash and partly by issuing new shares in ECIT AS. “The experienced…
SEGRO prices €500 million inaugural Green Euro Bond
PARIS, FRANCE: SEGRO Plc announced the launch and pricing of a ten year, €500 million senior unsecured Green bond issue. The bonds, which were eight times oversubscribed, were priced at 55 basis points above euro mid-swaps and have an annual coupon of 0.5 per cent. This is SEGRO’s first bond in the euro market and…
InsurTechs leveraging significant capital inflows to fuel innovation
PARIS, FRANCE: InsurTechs and BigTech players are leveraging significant capital inflows to boost technological development and fuel innovation, turning up the heat on incumbent insurers. Capgemini and Efma’s World InsurTech Report 2021 was published on Thursday. New age digital players are offering greater personalization and emphasis on customer experience, thus achieving maturity and customer adoption. In response, incumbents…
SFL Corporation to sell 7 handysize dry bulk vessels for $100 million
OSLO, NORWAY: SFL Corporation Ltd. announced that it has agreed to sell its seven handysize dry bulk vessels to an Asian based buyer for an aggregate price of approximately $100 million. Delivery of the dry bulk vessels is expected to take place before year end, and net cash proceeds are estimated to be more than…
House of Control acquires Sweden based Egreement AB
HØVIK, NORWAY: House of Control Group AS has entered into an agreement to acquire Egreement AB in Sweden, a news release said. The acquisition significantly strengthens House of Control’s SaaS-offering within contract workflow and digital signature. The acquisition complements House of Control’s existing solutions for – among others – contract management, authorization, procurement, and supplier…
Holcim sells business in Brazil for $1.025bn
PARIS, FRANCE: Holcim Ltd has signed an agreement with CSN (Companhia Siderúrgica Nacional) as it sells business in Brazil for an enterprise value of USD 1.025 billion, a news release said. This divestment includes Holcim’s five integrated cement plants, four grinding stations, six aggregates sites and 19 ready-mix concrete facilities. Holcim sells business to strengthen…
Vivendi sells additional 2.9% stake of UMG to Pershing Square for $1.149 billion
PARIS, FRANCE: Vivendi completed the sale of an additional 2.9% of Universal Music Group B.V. (UMG) to Pershing Square and its affiliates, as announced on August 31, 2021. The price of this sale is $1.149 billion, corresponding to an enterprise value of €35 billion for 100% of UMG. Considering the 7.1% stake it already owns,…