LONDON: Hammerson Plc has entered into a binding agreement for the disposal of its entire interest in Value Retail to Silver Bidco, a newly-formed company incorporated in Jersey and established by certain affiliates of L Catterton. The transaction implies an enterprise value of £1.5bn, generating cash proceeds of c.£600 million for Hammerson. Rita-Rose Gagné, CEO, Hammerson plc,…
Category: London Stock Exchange
News and updates from London Stock Exchange
FRP Advisory Group buys Lexington Corporate Finance for £3.5 million
LONDON: FRP Advisory Group plc, a leading national specialist business advisory firm, announced the acquisition of Lexington Corporate Finance for a consideration of £3 million plus an additional amount for the net assets acquired on completion of approximately £0.5 million. The total consideration for the acquisition is split between cash of approximately £2.2 million and…
Onward Opportunities Limited acquires minority equity interest in The Mission Group
LONDON: Onward Opportunities Limited (AIM: ONWD), the investment company targeting opportunities in smaller companies within the UK, announced the acquisition of a minority equity interest in The Mission Group plc (TMG), an AIM-quoted digital marketing and communications group. On 10 July 2024, the company acquired 5,797,261 existing ordinary shares of TMG in an on market…
Intelligent Ultrasound Group to sell Clinical AI business to GE for £40.5 million
LONDON: Intelligent Ultrasound Group plc (AIM: IUG), the ultrasound AI software and simulation company, has entered into a conditional sale and purchase agreement for the sale of its Clinical AI business to GE HealthCare for an enterprise value of £40.5 million on a cash free/debt free basis. The proposed transaction excludes the NeedleTrainer and NeedleTrainer…
Apax X agrees to sell stake in AffiniPay
LONDON: The Apax X Fund has announced the sale of its minority stake in AffiniPay, a market leader in professional services software and payments serving legal, accounting, architectural, engineering and construction firms, to Genstar Capital and TA Associates. This will result in a full exit of Apax X’s residual stake in AffiniPay following Apax X’s…
Onego Bio secures EUR 14 million in new funding from European Innovation Council
LONDON: Onego Bio Ltd, an Agronomics company, has secured EUR 14 million in new funding from the European Innovation Council Accelerator Program and an additional Series A investor. In April, Onego announced it closed EUR 37 million in its series A round which, including this new capital, brings Onego’s total funding to date to EUR…
ACG Acquisition Company acquires Gediktepe Mine in Türkiye
LONDON: ACG Acquisition Company today announced that it has agreed to the $290 million transaction with Lidya, a subsidiary of Istanbul-based conglomerate Çalık Holding, for the acquisition of 100% of the shares in Polimetal Madencilik Sanayi ve Ticaret A.Ş. and associated sulphide expansion project financing. Polimetal holds mining rights and operates the Gediktepe mine in Türkiye. As…
Smiths Group sells 4.9% shares in ICU Medical Inc
LONDON: Smiths Group plc has sold 1.2m shares in ICU Medical Inc, representing approximately 4.9% of ICU Medical’s issued share capital. Smiths will receive net proceeds of c.$152m (£117m) from the sale which will be used for general corporate purposes. Smiths continues to hold 0.47m shares in ICU Medical representing approximately 1.92% of ICU Medical’s…
Rio Tinto appoints Katie Jackson as Chief Executive of copper business
LONDON: Rio Tinto has appointed Katie Jackson to lead its Copper business, succeeding Bold Baatar, who as previously announced, will become Chief Commercial Officer later this year. Katie Jackson is currently President of National Grid Ventures, responsible for the development and operation of large-scale infrastructure energy assets. She will join Rio Tinto on 1 September…
Mitie Group acquires ESM Power in a £8.5 million deal
LONDON: Mitie Group plc has entered into an agreement to acquire ESM Power, a leading high voltage electrical engineering business specialising in grid and power connections, for a maximum consideration of £8.5m (comprising an initial payment of £5.5m and performance-linked deferred payments of up to £3m over two years). Completion is expected on 31 July…
HSBC Holdings appoints Georges Elhedery as Group Chief Executive
LONDON: HSBC Holdings plc today announced that Georges Elhedery has been appointed as Group Chief Executive, with effect from 2 September 2024. HSBC Group Chairman, Sir Mark Tucker, said: “I am delighted to confirm Georges as the next HSBC Group Chief Executive. He is an exceptional leader and banker who cares passionately about the Bank,…
Spectra Systems to manufacture sensors for an existing central bank customer
LONDON: Spectra Systems Corporation, a leader in machine-readable high speed banknote authentication, brand protection technologies, security printing and gaming security software, entered into a contract worth $37.9 million to manufacture sensors for an existing central bank customer. A second tranche of consideration of $1.7 million is expected later this year upon signature of the related…