PARIS, FRANCE: Danone has signed an agreement to sell its premium organic dairy activity in the U.S. to Platinum Equity, a US-based investment firm. The sale is part of Danone’s portfolio review and asset rotation program the company announced in March 2022, as part of its Renew Danone strategy. In 2022, the US premium organic…
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IMCD N.V. signs agreement to acquire distribution business of Joli Foods S.A.S.
ROTTERDAM: IMCD N.V. announced that IMCD Colombia has signed an agreement to acquire the distribution business of Joli Foods S.A.S. to expand its food and nutrition business and product portfolio. “The addition of Joli Foods’ distribution business to IMCD Colombia’s food and nutrition portfolio is an exciting new development in our company’s growth history,” said…
GenSight Biologics secures cash, advances regulatory and manufacturing plans for LUMEVOQ
PARIS, FRANCE: GenSight Biologics, a biopharma company that develops gene therapies for eye and brain disorders, announced today that it has secured enough cash to operate until mid-February 2024, thanks to cost-cutting measures and ongoing negotiations with some business partners and creditors. The company also revealed its regulatory and manufacturing progress for its lead product,…
Virtualware celebrates 20 years of VR innovation and unveils new strategic plan
PARIS, FRANCE: Virtualware, a leading company in virtual reality solutions, marked its 20th anniversary yesterday with an open letter from its CEO, Unai Extremo, announcing a new strategic plan for 2024-2026. The plan outlines the company’s vision to continue innovating and expanding in the global market of virtual and augmented reality. “Today, as we celebrate…
Eurofins Scientific to acquire operations of SGS Crop Science in 14 countries
PARIS, FRANCE: Eurofins Scientific, a global leader in agroscience contract research services, signed an agreement to acquire the operations of SGS Crop Science in 14 countries. The business generated revenues of approximately CHF 46m in 2022. The transaction is subject to consultation with SGS Crop Science’s local stakeholders as required by the local jurisdictions and…
Alpine Racing finalises sale of 24% stake for €200m to Otro Capital led group
BOULOGNE-BILLANCOURT: Renault Group and Alpine Racing announced the closing of the investment by Otro Capital of €200 million in Alpine Racing Ltd (based in England), announced on 26 June 2023, in the form of a 24% equity stake, to support Alpine’s growth strategy and sporting ambitions in Formula 1. Alec Scheiner, co-founder and partner of…
Tikehau Capital and Nikko Asset Management to form a business and capital alliance
PARIS, FRANCE: Tikehau Capital (Paris:TKO) and Nikko Asset Management, one of Asia’s largest asset managers, have entered into advanced discussion to form a business and capital alliance. The contemplated strategic partnership would involve Tikehau Capital and Nikko Asset Management entering into distribution agreements in Japan and elsewhere in Asia, as well as establishing a joint…
Chinese auto firm expands in Romania amid nearshoring trend
AMSTERDAM: CTP, Europe’s largest industrial and logistics property developer, has leased 13,000 sqm of space at CTPark Deva II in western Romania to KSHG Auto Harness, a leading Chinese automotive component company. This is in addition to the 8,000 sqm of space that KSHG already occupies at the park since 2022, when it brought the…
Arkema’s Bostik to acquire Arc Building Products
PARIS, FRANCE: Bostik, a subsidiary of Arkema, has announced its intention to acquire Arc Building Products, a company that specializes in tile adhesives, floor preparation systems, building chemicals and sealing & bonding solutions. Arc has a strong presence in the Irish market, with annual sales of around €15 million and a production facility in Arklow,…
Telenor Pakistan B.V. signs deal to sell 100% of Telenor Pakistan to PTCL for NOK 5.3 billion
OSLO, NORWAY: Telenor has concluded the strategic review process of Pakistan. Telenor Pakistan B.V. (a privately limited company organised under the laws of the Netherlands) has signed an agreement to sell 100% of Telenor Pakistan (Private) Limited to Pakistan Telecommunications Company Ltd (PTCL), the national telecommunications and ICT company in Pakistan. The buyer is a…
Belgium and ENGIE agree to extend nuclear reactors until 2035
PARIS: Belgium and ENGIE, the French energy giant, have signed a final agreement to extend the operation of two nuclear reactors, Tihange 3 and Doel 4, until 2035. The agreement also covers the obligations related to nuclear waste management for all ENGIE’s nuclear facilities in Belgium. Catherine MacGregor, Chief Executive Officer of ENGIE, stated: “We…
Ignitis Group and Copenhagen Infrastructure Partners win offshore wind tender in Estonia
OSLO: (AB) Ignitis Grupė informed that its subsidiary (UAB) Ignitis Renewables” together with Copenhagen Infrastructure Partners P/S (CIP) through its Growth Markets Fund II are the winners of the auction-based competitive tender for development of an offshore wind farm in the Liivi 2 sea area in Estonia with a total capacity of up to 1.4…