STOCKHOLM: Intrum AB has signed a term sheet regarding an investment agreement with an affiliate of Cerberus Capital Management, L.P. for future investments in consumer unsecured non-performing loan portfolios. This agreement allows Intrum to scale its investment activity without increasing its debt, providing servicing revenues and additional portfolio management revenues, in line with its ‘capital-light’…
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Telenor expands collaboration with AWS to support sovereign cloud posture
COPENHAGEN: Telenor Group announced it will expand its collaboration with Amazon Web Services (AWS) to advance its sovereign cloud posture by using AWS’s sovereign-by-design technology, and leveraging Telenor’s strategic investment in Skygard. Currently under construction, Skygard is state-of-the-art secure and energy efficient data centres that Telenor is building with its partners in Norway. In the…
Nokia announces changes to its group leadership team
ESPOO, FINLAND: Nokia today announced the appointment of Lorna Gibb as Chief People Officer and member of the Group Leadership Team, effective immediately. In addition, Ricky Corker, who has served as Nokia’s Chief Customer Experience Officer since 2021, will step down and leave the company effective June 28, 2024. Lorna Gibb joined Nokia in 2020…
Nathalie Boulas Nilsson appointed new President and CEO of Humana
Stockholm: The Board of Humana has appointed Nathalie Boulas Nilsson as the new President and CEO of Humana AB. Nathalie Boulas Nilsson will also assume the role of Country Manager for the Swedish organisation. Nathalie will take office on July 22, 2024, in connection with when the resigned President and CEO Johanna Rastad leaves the…
Norva24 Group acquires Nordic Powergroup Holding for DKK 138 million
COPENHAGEN, DENMARK: Norva24 Group AB, the market leader in underground infrastructure maintenance (UIM) in Northern Europe, keeps growing through value-accretive acquisitions. The company announced the acquisition of the clear leader in the high-pressure flushing market in Denmark, Nordic Powergroup Holding A/S (NPG). With the acquisition, Norva24 manifests the number one position within underground infrastructure maintenance…
EQT acquires majority stake in leading private university network, Universidad Europea
STOCKHOLM: EQT Infrastructure VI fund has announced the acquisition of a majority stake in the prestigious Universidad Europea from Permira, marking a significant shift in the landscape of private higher education in Europe. Permira will maintain a substantial minority interest in the university, signifying ongoing confidence in the institution’s growth trajectory. Universidad Europea, established in…
President and CEO Martin Lindqvist is leaving SSAB
HELSINKI: After 26 years in the company and 13 years as President and CEO, Martin Lindqvist has decided to leave SSAB to further his board career. A recruitment process to find his replacement will start immediately, a news release said. Martin Lindqvist has been employed at SSAB since 1998 and served as the company’s President…
WithSecure CEO Juhani Hintikka steps down; Antti Koskela appointed interim chief
STOCKHOLM: Juhani Hintikka, President and CEO of WithSecure, has today announced that he steps down from his position in the company. The decision to step down follows the Supreme Court ruling of 5 April 2024 where Juhani Hintikka was found guilty of abuse of inside information related to a matter dating back to 2014, years…
Humana Norway agrees to acquire Team Olivia Norge AS
OSLO, NORWAY: Human Care Holding AS (Humana Norway) has entered into an agreement to acquire Team Olivia Norge AS for a purchase price of SEK 341 million on a cash- and debt-free basis. The acquisition is partially financed through an issue in kind of 4 million shares to the sellers. The acquisition is expected to…
Nokia to invest €360 million in chip design for 6G and AI
ESPOO, FINLAND: Nokia announced today that it will invest €360 million in software, hardware and chip design at its Ulm and Nuremberg sites in Germany. The investment is part of a four-year project funded by the German government and the states of Baden-Württemberg and Bavaria. The project aims to develop high-performance systems-on-chips based on a…
Africa Oil Corp. announces farmout deal with TotalEnergies for offshore Namibia oil interests
VANCOUVER: Africa Oil Corp. (AOC) has announced a farmout deal with TotalEnergies for its offshore Namibia oil interests. The deal will see AOC’s investee company, Impact Oil and Gas, receive a 9.5% stake in two blocks that are part of the Venus oil development project. Impact will also get a cash reimbursement of about USD…
Elering and AST to develop fourth interconnection between Estonia and Latvia
Elering and Augstsprieguma tīkls (AST), the electricity transmission system operators (TSO) of Estonia and Latvia, have signed a memorandum of understanding (MoU) to jointly develop the fourth interconnection between the two countries. The new interconnection will increase the transmission capacity between Estonia and Latvia and enable the integration of renewable energy sources (RES) in the…