SYDNEY: Kathmandu Holdings Limited announced the appointment of Michael Daly as Group Chief Executive Officer and Managing Director following the resignation of Xavier Simonet. Chairman of Kathmandu Holdings, David Kirk, said: “After an extensive international search, I am delighted to announce that Michael Daly will be the new Group CEO of Kathmandu Holdings. Michael has…
Renalytix AI, Atrium Health and Wake Forest partner to advance kidney health
NEW YORK: Renalytix AI plc, Atrium Health, Wake Forest Baptist Health and Wake Forest School of Medicine announced a partnership to implement an advanced clinical care model designed to improve kidney health and reduce kidney disease progression and kidney failure in high-risk populations. The KidneyIntelX bioprognostic platform for early-stage diabetic kidney disease risk assessment will…
STMicroelectronics acquires France based AI company, Cartesiam
GENEVA: STMicroelectronics announced a transaction with Cartesiam to acquire its assets (including its IP portfolio) and to transfer and integrate its employees. Closing is subject to regulatory approvals, a news release said. Cartesiam, based in Toulon (France), is a software company founded in 2016, which specializes in artificial intelligence (AI) development tools enabling machine-learning and…
Chesterfield Resources to acquire a belt scale copper exploration project, called Adeline
LONDON: Chesterfield Resources will acquire a belt scale copper exploration project, called Adeline, in the highly-rated Labrador region of eastern Canada, a news release said. Chesterfield has entered into a share purchase agreement with Altius in which Altius has agreed to sell the entire issued share capital of a special purpose vehicle (SPV), which in…
Acquisition by Cortina Bidco: AFH Financial gets FCA approval
LONDON: AFH Financial Group (LON: AFHP) announced that the Financial Conduct Authority has, on 18 May 2021, approved the proposed acquisition of AFH by Cortina Bidco Limited (Bidco), a newly incorporated company indirectly controlled by funds managed by Flexpoint Ford, LLC, pursuant to the recommended cash acquisition by Cortina Bidco Limited of AFH. The Acquisition…
Open Orphan receives Court approval for capital reduction
LONDON: Open Orphan has received Court approval for the reduction in capital. The reduction of capital will become effective on registration of the Court order at Companies House, which is expected to occur in the next few days. The reduction of capital will give the Company the ability to not only effect the Distribution in…
KKR’s Bidco to acquire John Laing Group for £2.0 billion
LONDON: The boards of John Laing (LON: JLG) and Bidco have reached agreement on the terms of a recommended cash acquisition of the entire issued and to be issued ordinary share capital of John Laing by Bidco. Under the terms of the acquisition, each John Laing Shareholder shall be entitled to receive 403 pence in…
Lenta to acquire Billa Russia for EUR 215 million in cash
ST. PETERSBURG: Lenta LLC, an indirect subsidiary of Lenta IPJSC, signed an agreement to acquire the supermarkets business of Billa Russia GmbH for EUR 215 million in cash. The acquisition significantly accelerates Lenta’s expansion in Moscow, adding prime retail locations that represent mature retail properties with a high sales density. As a result of the…
Skanska carrying out additional work at Slussen for an additional value of SEK 1.5 billion
STOCKHOLM: Skanska and the Development Office, City of Stockholm, have agreed on a new target cost for remaining and additional work on the reconstruction of Slussen, Stockholm, Sweden. The new target cost generates an order booking of about SEK 1.5 billion, which will be included in the order bookings for Skanska Sweden for the second…
Urban Elevator Service acquires Aventura Elevator
MIAMI: Urban Elevator Service announced its acquisition of Aventura Elevator. Urban Elevator completed the acquisition through its subsidiary Urban Elevator Service FL. Aventura Elevator is a full-service elevator contractor specializing in installing, modernizing, repairing, and maintaining all types of vertical transportation equipment, and has been serving clients across southeastern Florida since 2012. The acquisition expands…
IMCD N.V. acquires Andes Chemical Corp
ROTTERDAM: IMCD N.V. announced the acquisition of Andes Chemical Corp., a news release said. This acquisition marks IMCD’s debut in Central America and Peru, expanding its presence in Latin America and throughout the Caribbean. “Andes Chemical further strengthens IMCD’s presence in the Americas region and opens exciting opportunities for development in countries new to our…
Abu Dhabi National Energy Company to host World Utilities Congress
ABU DHABI: Abu Dhabi National Energy Company PJSC (TAQA) will be the official host of the World Utilities Congress, a new global exhibition and conference addressing the future of low carbon power and water supplies. Organised by dmg events, the Congress will be an in-person event taking place in Abu Dhabi in May 2022. It…