CALVERT: ArcelorMittal announced Thursday it has completed the acquisition of Nippon Steel Corporation’s 50% stake in AM/NS Calvert, gaining full control of the Alabama-based steelmaking facility. The deal, finalized under the terms of an Equity Purchase Agreement signed in October 2024, rebrands the site as ArcelorMittal Calvert. The facility, originally built by ThyssenKrupp at a…
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TotalEnergies acquires 25% stake in U.S. offshore exploration leases from Chevron
HOUSTON: TotalEnergies SE has agreed to acquire a 25% working interest in a portfolio of 40 offshore exploration leases from Chevron Corp. in the U.S. Gulf of Mexico, the company announced Monday. The leases, located on the Outer Continental Shelf, cover approximately 1,000 square kilometers (386 square miles) and are situated 175 to 330 kilometers…
TotalEnergies partners with Mistral AI to advance AI innovation in energy sector
PARIS: TotalEnergies and French artificial intelligence firm Mistral AI announced a collaboration Tuesday to accelerate AI-driven innovation in support of the energy company’s multi-energy strategy, with a focus on low-carbon solutions. The partnership will establish a joint AI innovation lab staffed by teams from both companies. Mistral AI will provide its advanced AI technologies, while TotalEnergies…
L’Oréal to acquire majority stake in British skincare brand Medik8
PARIS: L’Oréal Group announced Monday that it has signed an agreement to acquire a majority stake in British skincare brand Medik8, which will join its Luxe Division. According to a statement, Private equity firm Inflexion will retain a minority stake in Medik8, while founder Elliot Isaacs will remain on the board. The current management team will also stay…
TotalEnergies acquires UK solar, battery storage projects from Low Carbon
PARIS: TotalEnergies has acquired a portfolio of renewable energy projects in the U.K. from developer Low Carbon, the company announced Tuesday. The deal includes eight solar projects with a combined capacity of 350 megawatts and two battery storage projects totaling 85 megawatts. The solar projects, in an advanced development stage, are expected to be operational by 2028….
TotalEnergies sells 12.5% stake in Nigerian offshore field for $510 million
PARIS: TotalEnergies announced Wednesday that its subsidiary, TotalEnergies EP Nigeria Ltd., has agreed to sell its 12.5% non-operated interest in Nigeria’s OML118 Production Sharing Contract to Shell Nigeria Exploration and Production Company Ltd. for $510 million. The OML118 PSC, located about 120 kilometers (75 miles) south of the Niger Delta, includes the Bonga field, which began production…
Stellantis appoints Antonio Filosa as new CEO
MILAN: Auto giant Stellantis appointed North American Chief Operating Officer Antonio Filosa as its new chief executive Wednesday, ending a monthslong search to fill the company’s leadership void. The multinational conglomerate, which owns brands including Jeep, Dodge, Fiat, Chrysler and Peugeot, said it will hold an extraordinary shareholder meeting in the coming days to elect…
Signify names As Tempelman as new CEO
EINDHOVEN: Signify (Euronext: LIGHT), the world’s leading lighting company, announced Wednesday that As Tempelman will become its new chief executive officer starting Sept. 1, pending his appointment to the Board of Management. Current CEO Željko Kosanović will remain interim leader until then. “We are thrilled to appoint As Tempelman as CEO of Signify,” said Gerard…
Rémy Cointreau announce Franck Marilly as Chief Executive Officer of the Group
The Board of Directors is pleased to announce the arrival of Franck Marilly as the Group’s Chief Executive Officer. He will take office on June 25, 2025, succeeding Éric Vallat. With a rich professional background of more than 30 years within renowned luxury and cosmetics groups, such as Chanel, Unilever and the Japanese group Shiseido,…
TotalEnergies launches largest solar plant cluster in Europe near Sevilla
PARIS: TotalEnergies has inaugurated its largest solar power plant cluster in Europe, located near Sevilla, Spain. The project includes five solar plants with a combined capacity of 263 MW, capable of producing 515 GWh of renewable electricity annually—enough to power over 150,000 Spanish homes. The facility will also reduce CO₂ emissions by 245,000 tons per year. Most…
TotalEnergies secures long-term LNG deal, acquires stake in Canadian project
PARIS: TotalEnergies has signed a 20-year sales and purchase agreement with Ksi Lisims LNG to acquire 2 million metric tons per annum (Mtpa) of liquefied natural gas from the future Canadian liquefaction plant, contingent on the project’s final investment decision, the company announced Tuesday. Alongside the agreement, TotalEnergies has acquired a 5% stake in Western…
Peugeot Invest sells €227 million in private equity funds
PARIS: Peugeot Invest has announced the sale of 35 private equity funds on the secondary market to Committed Advisors, marking a significant step in the strategic rebalancing of its investment portfolio. The transaction, valued at approximately €227 million (€94 million in euro-denominated funds and $149 million in USD-denominated funds), involves assets managed by 22 General…