VILNIUS, LITHUANIA: Linas Agro Group, is borrowing funds from Luminor, Swedbank and SEB banks to finance the acquisition of companies of the KG Group. The syndicated local will be granted under the permission to execute the said acquisition issued by the Lithuanian Competition Council, a news release said. AB Linas Agro Group entered into a…
Anglo American completes demerger of Thungela thermal coal business
LONDON, UK: Anglo American plc announced the completion of the demerger of its thermal coal operations in South Africa. Thungela Resources Limited will start trading today through a primary listing on the Johannesburg Stock Exchange under the abbreviated name “Thungela” (Alpha code “TGA”), and a standard listing on the London Stock Exchange (“TGA”). As a…
SBB acquires majority stake in JM AB for SEK 4.56bn
OSLO, NORWAY: Samhällsbyggnadsbolaget i Norden AB (publ) (SBB) has today acquired 13.975 million shares in JM AB at a price of SEK 326.30 per share from OBOS, corresponding to SEK 4.56bn. The transaction corresponds to 20.08 percent of the shares and votes in JM, thus making it an associated company to SBB. SBB’s profit from…
SHUAA sells all their stakes in Khaleeji Commercial Bank to GFH Financial
DUBAI, UAE: SHUAA Capital has sold its 3.8% stake in Khaleeji Commercial Bank (KHCB) to GFH Financial Group. The sale is expected to contribute positively to SHUAA’s Q2 financials. The sale of Khaleeji Commercial Bank (KHCB) shares represents continued progress in SHUAA’s stated intention to exit its Non-Core Assets. In the recent announcement of SHUAA’s…
Tesco and Carrefour agree not to extend alliance
LONDON, UK: Tesco and Carrefour have today confirmed that they have decided not to extend their Purchasing Alliance beyond the three-year operational framework agreed in 2018, and the Alliance will formally end on 31 December 2021. Over the last three years, Tesco and Carrefour have benefited from a number of joint buying opportunities across food…
Euronav sells Suezmax Filikon for $16.3 million
ANTWERP, BELGIUM: Euronav NV has sold the Suezmax Filikon (2002 – 149,989 dwt) for USD 16.3 million, a news release said. A capital gain on the sale of approximately USD 9.3 million will be recorded in the current quarter. The vessel has been delivered to her new owners on June 4th. Euronav considers regular fleet…
Mkango Resources to create rare earths hub in Poland
VANCOUVER, BC: Mkango Resources Ltd. announced that Mkango and Grupa Azoty Zakłady Azotowe “Pulawy” S.A. have agreed to work together towards development of a rare earth separation plant in Poland. A new Polish wholly owned subsidiary of Mkango, Mkango Polska, has been established and a highly experienced Country Director for Poland, Dr Jarosław Pączek, has…
Windar Photonics to develop drone based emission detection system
LONDON, UK: Windar Photonics plc has entered into a new four year development project focused on developing a drone based emission detection system. The project, which brings together five private companies and the Technical University of Denmark (DTU), has a total budget of Euro 2.2 million and is backed by a public grant of Euro…
Schroder European REIT acquires French logistics asset for €6.15 million
LONDON, UK: Schroder European Real Estate Investment Trust has exchanged contracts to purchase a freehold logistics property in Nantes, western France, for €6.15 million, reflecting a net initial yield of 5.5%. The 8,663 sqm warehouse is fully let to Hachette Livre, a subsidiary of the leading French media group Lagardère, with an unexpired lease term…
Venture Life Group has acquired BBI Healthcare Limited for £36 million
LONDON, UK: Venture Life Group has acquired BBI Healthcare Limited, a global market leading Women’s Health and Energy Management/Diabetes company, for a total consideration of up to £36.0 million, a news release said. The acquisition of BBIH, which is expected to be immediately earnings enhancing, is from BBI Diagnostics Group Limited, a company ultimately majority…
ldox plc acquires Aligned Assets Holdco Limited for upto £10.5 million
LONDON, UK: ldox plc has acquired Aligned Assets Holdco Limited, a UK based public sector software business, a news release said. Initial cash consideration is £7.5m, increasing to a total maximum of £10.5m, comprising earn-out amounts of up to £1.5m payable in cash and £1.5m payable in equity over two years. The size of earn-out…
PGS ASA deploys two vessels to expand coverage offshore Canada
OSLO, NORWAY: PGS seismic vessel Ramform Titan has begun acquisition of the Cape Anguille program, in partnership with TGS. This program expands the PGS-TGS joint venture with another 10,000 square kilometers of GeoStreamer 3D coverage in Newfoundland’s prospective Orphan Basin. The survey covers existing lease blocks and open acreage. Acquisition is expected to complete mid-September…