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…
Sogeti in Sweden wins €220 million multi-year framework agreement
STOCKHOLM, SWEDEN: Sogeti in Sweden, part of the Capgemini Group, has won an exclusive new Framework Agreement with the Swedish Transport Administration covering IT services for application development and management, a news release said. The agreement initially runs over four years and can be extended for a further three. Following a review of its IT…
SILK Laser Australia buys Australian Skin Clinics and Cosmetic Clinic in New Zealand for $52 million
ADELAIDE, AUSTRALIA: SILK Laser Australia Limited has entered into a binding agreement to acquire 100% of Beauty Services Holdings Pty Ltd, LMD2 Pty Ltd and their broader group of entities for upfront cash consideration of $47.0 million and up to an additional $5.0 million earn-out. Beauty Services Holdings Pty Ltd, LMD2 Pty Ltd together operate…
Zwipe appoints Sonali Intellect Limited as sales partner in Bangladesh
DHAKA, BANGLADESH: Zwipe has appointed Sonali Intellect Limited as its sales and strategic business development partner to accelerate the adoption of biometric payment cards in Bangladesh. With 166 million inhabitants and a fast growing base of 22 million payment cards (credit cards grew 50% between 2019-20), Bangladesh represents a strategic growth opportunity for both partners….
Paul Smith appointed non-executive chair of Trident Royalties Plc
LONDON, UK: Trident Royalties Plc announced the appointment of Paul Smith as Non-Executive Chair with effect from 21 June. James Kelly will step down as Chair from that date but will remain on the Board as a Non-Executive Director. Additionally, Mark Potter will step down from his position as a Non-Executive Director with immediate effect,…
Unite Group announces £342 million disposal
LONDON, UK: Unite Students announced the disposal of two London properties to its London Student Accommodation joint venture (LSAV) with GIC for £342 million (Unite share £171 million), in line with book values and reflecting an average net initial yield of 4.0%. The properties are located in Wembley and Whitechapel and offer 1,358 bed spaces,…
NAB agrees to settle US BBSW class action complaint
SYDNEY, AUSTRALIA: National Australia Bank Limited (NAB) today announced it had reached an agreement to settle a class action commenced in the United States in 2016. The class action in which NAB and multiple other financial institutions were named as defendants relates to the Bank Bill Swap Rate (BBSW) and the trading of BBSW-based products….