LONDON: Supermarket Income REIT (LSE: SUPR) announced a strategic joint venture with Blue Owl Capital, a U.S.-based alternative asset manager with over $250 billion in assets under management. The partnership aligns with SUPR’s strategy to recycle capital at favorable valuations and expand earnings. The joint venture begins with a seed portfolio of eight high-yielding supermarket…
EDF Energy proposes buyout of remaining Pod Point’s shares
LONDON: Pod Point’s board announced on Thursday that EDF Energy Customers Limited (EDF), which already owns about 53% of the company, has proposed to acquire the remaining issued and to-be-issued shares. EDF’s non-binding conditional proposal values the shares at 6.5 pence each in cash, subject to limited due diligence. The potential offer comes amid a…
CVS sells Crematoria operations to Anima Care UK for £42.4 million
LONDON: CVS, a leading UK-listed veterinary group, has announced the sale of its Crematoria operations to Anima Care UK Limited, a subsidiary of Anima Care Holding and part of the Funecap Group, a major European funeral services provider. The transaction, valued at £42.4 million, represents a 10x multiple of the Crematoria’s adjusted EBITDA. The disposal…
Admiral Group to sell U.S. motor insurance business to J.C. Flowers
LONDON: Admiral Group plc has agreed to sell its U.S. motor insurance business, including Elephant Insurance Company and Elephant Insurance Services, to J.C. Flowers & Co., a private investment firm specializing in the financial services sector. The transaction, valued at approximately Elephant’s net asset value, is subject to regulatory approval and is expected to close…
Migrant workers in Canada face lengthy paperwork delays, risking legal status and basic rights
Migrant workers in Canada are experiencing severe delays in processing their work permits and residency applications, leaving many without legal status, access to health care, or the right to work—forcing some into exploitative situations, according to interviews and government data obtained by Reuters. The growing backlog in immigration applications, coupled with shifting policies, has left…
TotalEnergies and Chevron begin production at Ballymore Deepwater Field
PARIS: TotalEnergies announces the start of production from the deepwater Ballymore field offshore U.S., in which the Company has a 40% interest alongside operator Chevron (60%). Located 120 kilometers off the Louisiana coast and launched in May 2022, Ballymore has a total daily gross production capacity of 75,000 barrels of oil per day and 50…
DCC to sell healthcare division in £1.05 billion deal with HealthCo
LONDON: DCC plc announced Monday it has agreed to sell its healthcare division to HealthCo Investment Limited, a subsidiary of funds managed by Investindustrial Advisors Limited. The deal values DCC Healthcare at £1.05 billion on a cash-free, debt-free basis. The transaction, which is subject to regulatory approvals, is expected to be completed in the third…
Iress sells QuantHouse business to BAHA Tech in €17.5 million deal
MELBOURNE: Australian technology firm Iress Limited (ASX:IRE) announced Tuesday it has agreed to sell its European market data subsidiary, QuantHouse, to Vienna-based BAHA Tech Holding AG for €17.5 million (A$31.4 million) in cash. The deal, part of Iress’ strategic transformation program, transfers ownership of QuantHouse, a low-latency market data provider, to BAHA, a privately held…
Pakistan’s Green Sukuk Framework: Investing in a Sustainable Future
Pakistan’s federal cabinet has approved the Sustainable Investment (SI) Sukuk Framework, marking a significant step toward financing climate-resilient and socially impactful projects through Islamic bonds. The framework, introduced by the Ministry of Finance, enables the issuance of Green Sukuk, Social Sukuk, and Sustainability Sukuk, collectively known as SI Sukuk, to mobilize domestic capital for environmentally and socially beneficial…
True in talks to acquire stake in German Doner Kebab
LONDON: Investment firm True is in advanced discussions to acquire a major stake in German Doner Kebab (GDK), according to Sky News. GDK, led by Chief Executive Simon Wallis, is currently part of Hero Brands, a Glasgow-based incubator specializing in food and beverage concepts. While details of the potential deal remain undisclosed, several other bidders were reportedly engaged…
Chocolate prices surge 43% as extreme weather strikes cocoa-producing nations
LONDON: Chocolate lovers are paying significantly more for their favorite treat as global cocoa production struggles under extreme weather conditions, according to the latest inflation data. The price of chocolate has jumped 43% since 2022, according to an analysis of new figures from the Office for National Statistics (ONS) by the Energy and Climate Intelligence Unit (ECIU),…
Kosmos Energy announces first LNG cargo loaded from GTA project
HOUSTON: Kosmos Energy (NYSE/LSE: KOS) acknowledged the announcement Thursday from bp plc that the first cargo of liquefied natural gas (LNG) has been successfully loaded from the Greater Tortue Ahmeyim (GTA) LNG project, located offshore Mauritania and Senegal. The shipment was transferred to the LNG carrier “British Sponsor” from Golar LNG’s floating liquefied natural gas (FLNG) vessel,…