LONDON, UK: abrdn has agreed to sell its £7.5bn AUM European-headquartered Private Equity business to Nasdaq-listed Patria Investments. The sale is expected to complete in the first half of 2024. Upfront consideration comprises of £60 million of cash; secured deferred consideration of £20 million plus interest of cash to be paid 24 months following completion….
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Greater Manchester Pension Fund puts £500mn in Bruntwood SciTech, becomes partner
LONDON, UK: Bruntwood SciTech, a leading UK property provider for the life science and tech sectors, has received £500 million of extra funding and welcomed Greater Manchester Pension Fund (GMPF), the UK’s biggest local authority pension fund, as a new partner. GMPF is the first local government pension scheme to invest directly and actively in…
SkyGem acquires 59.96% stake in Allergy Therapeutics, launches cash offer for remaining shares
LONDON, UK: SkyGem Acquisition Limited, a private company backed by ZQ Capital, has acquired 59.96% of the shares of Allergy Therapeutics for 1 pence per share. As a result of this acquisition, SkyGem is required to make a mandatory cash offer for the remaining shares of Allergy Therapeutics, also at 1 pence per share. The…
Seeing Machines and Raytheon developing aviation fatigue detection solution
LONDON, UK: Seeing Machines Limited has signed a Purchase Agreement and Statement of Work with Collins Aerospace, a Raytheon Technologies (NYSE: RTX) business, and a leader in technologically advanced and intelligent solutions for the global aerospace and defence industry. This joint development of a fatigue risk management solution using Seeing Machines technology, will be taken…
Safestay Plc has agreed to acquire Edinburgh Hostel for £4.3 million
LONDON, UK: Safestay Plc (AIM: SSTY), the owner and operator of an international brand of contemporary hostels, has agreed to acquire a freehold property in the centre of Edinburgh, which until a few years ago operated as a hostel, for cash consideration of £4.3 million. The property is an attractive and spacious Grade A listed…
Orosur Mining teams up with Jurassic Mines to explore for lithium pegmatites in Nigeria
LONDON, UK: Orosur Mining Inc., a minerals explorer and developer with operations in Colombia, Argentina and Brazil, has announced a joint venture agreement with Jurassic Mines Ltd. to explore for lithium in Nigeria. The company believes that Nigeria has great potential for lithium pegmatite deposits, which are used to make batteries for electric vehicles and…
IBM ups its offer for Corcel’s share of Mambare, a nickel/cobalt project in Angola
LONDON, UK: Corcel Plc, the Angolan focused exploration and production company, has received a revised offer from Integrated Battery Metals (IBM) to purchase the company’s 41% interest in the Mambare nickel/cobalt project. IBM has conditionally agreed to purchase Corcel’s 41% interest in the Mambare nickel/cobalt project (including the outstanding shareholder loans due to Corcel by…
NEXT plc signs terms to acquire FatFace for £115.2 million
LONDON, UK: NEXT plc has signed terms to acquire FatFace for a total equity value of £115.2 million from a consortium of financial institutions. The consideration will be settled partly in cash and partly by the issue of new NEXT shares and management equity rolling over into the new structure. The transaction will not materially…
FSF buys three Scottish properties for £8.3m and expands its portfolio
LONDON, UK: Foresight Sustainable Forestry Company Plc (FSF), an investment company that focuses on UK forestry and afforestation assets, has bought three properties in Scotland for £8.3 million (including tax and transaction costs). The portfolio of FSF grows by 819 hectares and now covers 12,545 hectares across 68 properties. The acquisitions, which are 4.4% of…
Digitalbox acquires web and mobile platform assets of TVGuide.co.uk
LONDON, UK: Digitalbox plc, which owns Entertainment Daily, The Daily Mash, The Tab, and The Poke, it has completed the acquisition of the web and mobile platform assets of TVGuide.co.uk Limited alongside the Amazon Alexa TV Guide skill for a total cash consideration of £470,000. The total Consideration is 15% less than previously announced. Following…
Anglo American appoints Matt Walker as CEO of Marketing business
LONDON, UK: Anglo American plc announced the appointment of Matt Walker as CEO of its Marketing business, following Peter Whitcutt’s decision to step down after 33 years with Anglo American. Matt Walker will take up his new role and join Anglo American’s Executive Leadership Team, with effect from 1 December 2023. Matt Walker joined Anglo…
Ofgem consults on debt protection for energy market and consumers
LONDON: The energy regulator Ofgem has launched a consultation on how to protect the energy market and consumers from the risk of rising debt, which has reached a record high of £2.6 billion. The regulator said that the debt level was driven by a combination of the increase in wholesale energy prices, and wider cost…