PARIS, FRANCE: Renault Group has announced that it will sell up to 211 million Nissan shares, or 5% of Nissan capital, to Nissan as part of the latter’s share buyback program. The sale, which will take place on December 13, 2023, will improve Renault Group’s net financial position by €765 million, but also result in…
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TotalenErgies acquires 3 start-ups in the electricity business
PARIS, FRANCE: TotalEnergies has acquired three start-ups that have benefited from its TotalEnergies On acceleration program based at STATION F in Paris. The success of the collaborations and tests carried out during their participation in the program has led TotalEnergies to negotiate their acquisition and integration into its business units which with they collaborated. With…
Saint-Gobain signs solar power deal with CVE in South Africa
PARIS, FRANCE: Saint-Gobain, a global leader in building materials, has entered into a 20-year renewable electricity supply agreement with CVE, a French independent renewable energy producer. The deal will provide Saint-Gobain with about 140 GWh of solar power per year, covering 40% of the electricity needs of its four major industrial sites in South Africa….
Vegard Wollan to succeed Svenn-Tore Larsen as Nordic Semiconductor CEO
OSLO, NORWAY: Nordic Semiconductor, a global leader in connectivity solutions, has announced that Vegard Wollan will take over as the new CEO of the company from January 1, 2024. Wollan is a serial entrepreneur and a co-inventor of the AVR microcontroller technology, which he developed into a billion-dollar business at Atmel and later at Microchip…
Norwegian insurance companies, Fremtind Forsikring and Eika Forsikring to merge in 2024
OSLO, NORWAY: Two Norwegian insurance companies, Fremtind Forsikring AS and Eika Forsikring AS, have agreed to merge in 2024, creating a new entity called Fremtind Forsikring. The merger is subject to regulatory approval and the signing of a final transaction agreement. The deal involves the owners of the two companies, SpareBank 1 Gruppen AS, DNB…
Everfuel collaborates with ITOCHU and Osaka Gas for green hydrogen production
HERNING, DENMARK: Everfuel A/S has entered into a strategic collaboration with HyVC ApS (the Japanese consortium), a joint venture between ITOCHU Corporation and Osaka Gas Co., Ltd., with the ambition of accelerating development of green hydrogen production and sharing of related technology, know-how and best-practices. The agreement includes a commitment by the Japanese consortium to…
Marel appoints Arni Sigurdsson as Chief Executive Officer
AMSTERDAM: Marel today announced that Arni Sigurdsson has been appointed as Chief Executive Officer with immediate effect. Marel (NASDAQ: MAREL; AEX: MAREL) is a leading global provider of advanced food processing equipment, systems, software, and services to the poultry, meat and fish industries. Arni Sigurdsson took over the role of Chief Business Officer and Deputy…
Schibsted ASA to split into two companies, Tinius Trust to take over media business
OSLO, NORWAY: Schibsted ASA, the Norwegian media and online classifieds giant, has announced a major restructuring plan that will see its news media operations spun off into a separate company controlled by the Tinius Trust, the main shareholder of Schibsted. The trust, which was established by Schibsted heir Tinius Nagell-Erichsen in 1996 to safeguard the…
ArcelorMittal sold Kazakh steel and mining operation to Qazaqstan Investment Corporation
AMSTERDAM: ArcelorMittal has completed the sale of ArcelorMittal Temirtau, its Kazakh steel and mining operation, to the Qazaqstan Investment Corporation (‘QIC’), a state-controlled direct investment fund. ArcelorMittal and the Government of Kazakhstan had been in discussion for some months to agree on a sustainable path forward for the integrated steelmaking asset, located in the Karaganda…
Bureau Veritas announces new Executive Committee to boost growth and sustainability
PARIS, FRANCE: Bureau Veritas, a world leader in testing, inspection and certification (TIC) services, has announced the reshaping and strengthening of its Executive Committee, effective from January 1st, 2024. The new structure is designed to align the organization with its strategic imperatives and to seize key future growth opportunities. The Group has decided to split…
Avance Gas sells two newbuildings for $240 million, plans to return cash to shareholders
OSLO: Avance Gas Holding Ltd has announced the sale of its two remaining dual fuel newbuildings for $240 million, generating a profit of about $73 million and a cash release of $160 million. The buyer will take delivery of the ships from the yard in 2024. The ships are capable of loading and running on…
Societe Generale to sell its African subsidiaries to Vista Group
OSLO, NORWAY: Societe Generale, a leading European bank, has announced that it will divest its shares in two of its African subsidiaries: Société Générale Burkina Faso and Banco Société Générale Moçambique. The bank has signed two agreements with Vista Group, a pan-African financial services group, to transfer its 52.6% and 65% stakes in the two…