LONDON, UK: Capita plc and Cabinet Office have agreed to sell AXELOS Limited to PeopleCert International Limited in a deal that values the joint venture at £380 million on a cash-free, debt-free basis, representing an 11.5x multiple on 2020 EBITDA of £33.1 million, a news release said. The sale of Capita’s 51% interest in AXELOS…
Dev Clever Holdings agrees to acquire The Inspirational Learning Group Limited
LONDON, UK: Dev Clever Holdings has entered into definitive heads of terms to acquire The Inspirational Learning Group Limited (TILG), a profitable and established UK-based educational business. Under the definitive heads of terms, TILG will be acquired for a cash consideration of £200,000 and the issue of 6,000,000 new ordinary shares in Dev Clever, subject…
Kerry Group reaches agreement to acquire Niacet for €853 million
LONDON, UK: Kerry Group plc has reached agreement to acquire Hare Topco Inc. trading as Niacet Corp. from an affiliate of funds advised by SK Capital Partners LP and other shareholders for €853 million, a news release said. Niacet is a global market leader in technologies for preservation. It has clear leadership positions in Bakery…
TNG Limited signs agreement with AGV Energy to develop VRFB
SYDNEY, AUSTRALIA: TNG Limited has reached an agreement with an international technology company and specialist in the green hydrogen sector to develop commercial opportunities using vanadium redox flow batteries (VRFB). The Company has executed a Heads of Agreement with Malaysian-based AGV Energy & Technology Sdn Bhd to progress formal arrangements for collaboration on opportunities for…
Swoop Holdings to acquire wireless broadband provider, Speedweb for $1.75mn
SYDNEY, AUSTRALIA: Swoop Holdings Limited has agreed to acquire Speedweb, a wireless broadband provider in the Gippsland and Latrobe Valley areas of Victoria, for an enterprise value of $1.75million. Speedweb offers fast and affordable high speed Wireless Broadband on its own network of over 50 towers and masts and has more than 1,800 services in…
Axiata and Telenor sign agreement to merger Celcom and Digi in Malaysia
OSLO, NORWAY: Axiata Group Berhad and Telenor Group have successfully concluded the due-diligence exercise and signed an agreement on the proposed merger of the Malaysian mobile operations, Celcom Axiata Berhad and Digi. Following the 8 April 2021 announcement that Axiata and Telenor were in advanced discussions on the proposed merger, the signing today signifies a…
Mercury NZ Limited agrees to acquire Trustpower’s retail business for NZ$441 million
AUCKLAND, New ZEALAND: Mercury NZ Limited has entered into binding agreements to acquire Trustpower Limited’s retail business for NZ$441 million, payable in cash, a news release said. The transaction is conditional on several matters, including Commerce Commission clearance, completion of the proposed restructure of Tauranga Energy Consumer Trust (TECT) and Trustpower shareholder approval. Trustpower’s retail…
Bedaya Mortgage Finance launches Egypt’s first non-bank mortgage online platform
CAIRO, EGYPT: Bedaya Mortgage Finance Co., Egypt’s first non-bank online mortgage provider, has launched Egypt’s first non-bank mortgage finance mobile application and online platform, which will allow users to apply for one of Bedaya’s numerous mortgage finance offerings seamlessly and rapidly. Through the application, users can calculate the expected cost of their mortgage, upload documents…
Bahrain Bourse collaborates with Oxford Business Group
MANAMA, BAHRAIN: Bahrain Bourse (BHB) has announced collaboration with Oxford Business Group (OBG) to produce a series of individual reports and other research tools to track the environmental, social and governance (ESG) journeys of companies listed on Bahrain Bourse, a news release said. The reports marks the latest addition to OBG’s suite of bespoke resources…
GFH Capital Limited offloads US Industrial Portfolio
DUBAI, UAE: GFH Capital Limited (GCL), a fully owned subsidiary of GFH Financial Group, has signed agreements to exit from its US Industrial Portfolio I and II (US Industrial Portfolio), which was acquired by GCL in 2016, a news release said. The portfolio consists of 26 assets with an area covering over 2.7 million square feet. These…
Fitch upgrades PJSC Polyus ratings with a stable outlook
LONDON, UK: PJSC Polyus notes that Fitch Ratings has upgraded the Company’s Long-term Issuer Default Rating to ‘BB+’ from ‘BB’, with stable outlook. The new rating reflects the Company’s strong business profile and credit metrics, achieved as a result of pro-active debt management with a total of USD 1.1 billion repaid since the end of…
Heimstaden Bostad issues EUR 600m hybrid capital
OSLO, NORWAY: Heimstaden Bostad AB has successfully issued a EUR 600 million subordinated perpetual hybrid bond with an annual fixed rate coupon of 3% and a non-call period of 6.6 years. The issue attracted strong interest and the book peaked at more than two times the nominal amount S&P will classify the hybrid as having…