LONDON: CVS, a leading UK-listed veterinary group, has announced the sale of its Crematoria operations to Anima Care UK Limited, a subsidiary of Anima Care Holding and part of the Funecap Group, a major European funeral services provider. The transaction, valued at £42.4 million, represents a 10x multiple of the Crematoria’s adjusted EBITDA. The disposal…
Category: London Stock Exchange
News and updates from London Stock Exchange
Admiral Group to sell U.S. motor insurance business to J.C. Flowers
LONDON: Admiral Group plc has agreed to sell its U.S. motor insurance business, including Elephant Insurance Company and Elephant Insurance Services, to J.C. Flowers & Co., a private investment firm specializing in the financial services sector. The transaction, valued at approximately Elephant’s net asset value, is subject to regulatory approval and is expected to close…
DCC to sell healthcare division in £1.05 billion deal with HealthCo
LONDON: DCC plc announced Monday it has agreed to sell its healthcare division to HealthCo Investment Limited, a subsidiary of funds managed by Investindustrial Advisors Limited. The deal values DCC Healthcare at £1.05 billion on a cash-free, debt-free basis. The transaction, which is subject to regulatory approvals, is expected to be completed in the third…
Kosmos Energy announces first LNG cargo loaded from GTA project
HOUSTON: Kosmos Energy (NYSE/LSE: KOS) acknowledged the announcement Thursday from bp plc that the first cargo of liquefied natural gas (LNG) has been successfully loaded from the Greater Tortue Ahmeyim (GTA) LNG project, located offshore Mauritania and Senegal. The shipment was transferred to the LNG carrier “British Sponsor” from Golar LNG’s floating liquefied natural gas (FLNG) vessel,…
Science in Sport Plc confirms possible acquisition offer from bd-capital
LONDON: The board of directors of Science in Sport Plc confirmed that the company has received an approach from bd-capital at a price of 34 pence per share, which may or may not lead to an offer for the entire issued and to-be-issued share capital of the company. An independent committee of the board evaluated the indicative…
AI startup Inephany secures $2.2 million pre-seed funding
LONDON: AI optimization startup Inephany Ltd has raised $2.2 million in a pre-seed funding round, aiming to transform how neural networks—including Large Language Models (LLMs)—are trained and fine-tuned. The round was led by Amadeus Capital Partners, with participation from Sure Valley Ventures (SVV) and AI pioneer Professor Steve Young, who joins Inephany as an angel…
M.P. Evans to acquire two Indonesian palm oil plantations for $34.2 million
JAKARTA: M.P. Evans Group, a producer of sustainable Indonesian palm oil, announced Wednesday that its subsidiary, PT Evans Indonesia, has agreed to acquire two Indonesian plantation companies in a $34.2 million deal. The company signed a conditional share purchase agreement to acquire the entire issued share capital of PT Setara Kilau Mas Adicita (SKMA) and…
Barratt Redrow reports strong Q1 performance amid integration progress
LONDON: Barratt Redrow plc reported solid trading results for its first quarter, driven by consistent homebuyer demand and the ongoing integration of Barratt and Redrow. The homebuilder posted a net private reservation rate of 0.621 for the 13 weeks ending March 30, a 1.6% increase from the previous year’s combined performance. Including multi-unit sales, the…
Oracle Energy Extends Agreement with China Electric Power for Green Hydrogen Project
LONDON: Oracle Power PLC (AIM: ORCP), through its joint venture Oracle Energy Limited, announced an extension of its strategic agreement with China Electric Power and Technology Co., Ltd. (CET) to further advance the development of the Green Hydrogen Project in Thatta, Sindh Province. The Memorandum of Understanding (MoU), initially signed on March 7, 2023, was…
Playtech appoints John Gleasure as Chairman elect
LONDON: Playtech PLC (LSE: PTEC), the global leader in gambling technology, has announced the appointment of John Gleasure as an independent Non-executive Director and Chairman Elect. Gleasure is set to succeed Brian Mattingley as Non-executive Chairman following Playtech’s Annual General Meeting (AGM) in May 2025. Mattingley, who will step down from the Board at that…
Ajax to acquire Argentina’s Eureka Project
LONDON: Ajax Resources, a U.K.-listed special purpose acquisition company focused on natural resources (LSE: AJAX), has reached an agreement to acquire Puna Metals S.A., the company that holds the mining rights to the Eureka Project in Argentina, the company confirmed Wednesday. The acquisition, valued at $170,000 in cash, allows Ajax to take control of the…
Tullow Oil to sell Kenyan assets to Gulf Energy for $120 million
LONDON: Tullow Oil plc announced Monday that its subsidiary, Tullow Overseas Holdings BV, has agreed to sell its Kenyan operations to Gulf Energy Ltd. for a minimum of $120 million. The deal includes an initial $40 million payment upon completion, followed by two additional $40 million payments tied to project milestones. Tullow will also receive potential royalty…