STOCKHOLM: The Board of Directors of Serneke Group has appointed Michael Berglin as President and CEO. Michael has had the role of acting CEO since February this year and will take up his permanent role immediately. The decision regarding the CEO position in Serneke Group has been preceded by an extensive and thorough recruitment process….
Global Ports Holding signs $261 million loan agreement with Sixth Street
LONDON: Global Ports Holding Plc (LON: GPH) has entered into a five-year, senior secured loan agreement for up to $261 million with the leading global investment firm Sixth Street. This new investment from Sixth Street will strengthen GPH’s balance sheet and provide flexible growth capital for GPH to pursue expansion opportunities at a dynamic juncture…
Marlowe plc acquires Cylix Limited for an enterprise value of £1 million
LONDON: Marlowe plc (LON: MRL), the UK leader in business critical services and software which assure safety and regulatory compliance, has acquired eLearning software platform Cylix Limited (Cylix) for an enterprise value of £1 million. Cylix, established in 2002, is based in Bath and provides accredited equality, diversity, wellbeing and health & safety eLearning courses…
£300 million investment to get Britain ready for more electric transport and heat
LONDON: Ofgem is today powering the electric vehicle revolution, with motorway service areas and key trunk road locations across the country set to get the cabling they need to install 1,800 new ultra-rapid charge points, tripling the current network. A further 1,750 charge points will be supported in towns and cities. As drivers make the…
Euromoney Institutional Investor acquires RelSci for $7.4 million
LONDON: Euromoney Institutional Investor PLC (LON: ERM) has acquired the Relationship Science (RelSci) for $7.4 million, a news release said. RelSci is a global relationship-mapping data provider serving financial, professional services and not-for-profit organisations. Its platform contains over 9 million profiles of global business leaders and senior management, and its proprietary software enables clients to…
JSW Steel is not bidding to buy Liberty Steel’s assets
MUMBAI: JSW Steel Limited has refuted the reports regarding bidding to buy Liberty Steel’s assets in UK. “It is hereby clarified that such reports stating about the JSW Steel’s interest in bidding/buying Liberty Steel’s assets are not only speculative but also misleading and mischievous”. JSW Steel Ltd. is the flagship company of the JSW Group…
Pakistan posts 3.94% GDP growth in FY21
The National Accounts Committee (NAC), in its 103th meeting, presented the provisional growth estimates of the GDP. Despite epidemiologic resurgence in the current fiscal year, Pakistan’s economy remained resilient and marked a growth of 3.94%, defying the projections of the IMF (1.5%) and the World Bank (1.3%). A few key areas mentioned in the NAC’s…
Aleksey Ivanov appointed CEO of EVRAZ as Frolov stepping down
LONDON: After serving as CEO of EVRAZ Plc for 14 years, Alexander Frolov is stepping down from the role on 31st August 2021, a news release said. Frolov will continue as a non-executive director so that his extensive knowledge and experience remain available to the business. The Board approved today the appointment of Aleksey Ivanov…
Netoil Capital acquires Noridc Petroleum in a share exchange deal
OSLO: Netoil Capital Ltd. (NOC) has reached agreement to acquire all shares of Nordic Petroleum AS against the issue of 1.95 million shares in NOC, a news release said. The acquisition increases the number of shareholders in NOC, thereby broadening its investor base. Nordic has 1080 shareholders and as such will contribute to this. Netoil…
Airtasker acquires Zaarly for $3.4 million
SYDNEY: Airtasker Limited has completed the acquisition of Zaarly, a US-based local services marketplace, for $3.4 million. The acquisition of Zaarly provides Airtasker with more than 597,000 registered users (Customers) and 900+ verified service providers (Taskers) to jump start expansion in the US. Zaarly’s highly experienced team of marketplace product, engineering and operations executives will…
Elop and DEKRA to create InsightCrawler, an inspection robot for concrete structures
OSLO: Elop AS and DEKRA Visatec GmbH entered LOI with intention to finalize commercial agreement in august and to launch their new combined solution in the market early next year. The two companies intend to combine Elop’s patented rolling ultrasound technology with a vacuum crawler designed for concrete structures to create the “InsightCrawler” – an…
Ørn Software to acquire Norwegian company Landax for NOK 95 million
TRONDHEIM: Ørn Software has signed an agreement to acquire the Norwegian Quality Management Software-as-a-Service (SaaS) company Landax, a news release said. The transaction is based on an enterprise value of NOK 95 million and implies a multiple of 4.5x on ARR. The transaction will be settled with 80% cash at closing and 20% in Ørn…