OSLO, NORWAY: Today the company HEGRA is launched at Herøya, Porsgrunn, with former Statnett CEO, Auke Lont as Chairman. The company aims to electrify and decarbonize the ammonia plant at Herøya, enabling large-scale green ammonia production. «HEGRA» is short for HErøya GReen Ammonia, and is co-owned by Yara, Aker Clean Hydrogen and Statkraft each owning…
Tekmar Group and DeepWater Buoyancy form partnership
LONDON, UK: Tekmar Group has signed a Memorandum of Understanding (MOU) with DeepWater Buoyancy Inc. to bring together their complementary engineering capabilities, and extensive track records in their respective fields, to enhance the range of services and technologies they offer customers, whilst helping to integrate and optimise offshore project supply chains. The partnership is focused…
Londonmetric sells Primark warehouse for £102 million
LONDON, UK: LondonMetric Property Plc has exchanged on the sale of its distribution warehouse in Thrapston, Northamptonshire, to EQT Exeter for £102 million, reflecting a NIY of 4.1%. The 785,000 sq ft warehouse is let to Primark for another 11 years at a rent of £4.4 million pa. LondonMetric acquired the property in 2013 for…
Cellular Goods signs supply agreement with Chanelle McCoy
LONDON, UK: Cellular Goods has signed a announce a multi-year manufacture and supply agreement with Chanelle McCoy Health Ltd (CMH) bringing forward its launch of a range of clinically-validated ingestible products to Q4 2021. Under the agreement, CMH, a research-led developer of high quality ultra pure cannabinoid (CBD) products that are fully compliant with the…
Etalon acquires 35% stake in QB Technology
LONDON, UK: Etalon Group Plc, one of Russia’s largest and longest-established development and construction companies, announced the acquisition of a 35% stake in QB Technology, with an option to further increase its ownership share. QB Technology is an innovative UK-based high-tech modular construction company that provides a full range of services for the design, installation…
Mast Energy buys Rochdale Power Limited
LONDON, UK: Mast Energy Developments Plc has finalized and entered into a definitive Sale and Purchase Agreement to acquire a 100% interest in Rochdale Power Limited, a Special Purpose Vehicle (SPV) from Balance Power Projects Limited, for the installation of a 4.4 MW flexible gas power project in Dig Gate Lane, Rochdale, OL 16 4NR. The acquisition costs of…
Kazatomprom credit rating upgraded by Moody’s
LONDON, UK: JSC National Atomic Company (Kazatomprom) announced today that the international rating agency Moody’s Investors Service has upgraded the Company’s credit rating Baa3, to Baa2. The base credit rating of Kazatomprom was increased by one notch and the outlook remains Stable. Moody’s released a statement announcing the rating change and stable outlook on 12…
Custodian REIT sells property for £4.5 million
LONDON, UK: Custodian REIT, the UK property investment company, announced the disposal of a property from its portfolio. The Company has sold a 31,062 sq ft retail warehouse unit in Galashiels for £4.5 million, £1.8 million (67%) ahead of the 30 June 2021 valuation, representing a net initial yield1 of 5.73%. The property was purchased…
Cobham to buy Ultra Electronics for £2.57 billion
LONDON, UK: Cobham Ultra Acquisitions Limited, a wholly-owned indirect subsidiary of Cobham Group Holdings Limited, has agreed the terms and conditions of a recommended acquisition of Ultra Electronics Holdings plc in a £2.57 billion transaction. The boards of directors of Ultra Electronics Holdings plc and Cobham Ultra Acquisitions Limited have reached agreement on the terms…
Future plc acquires Dennis for £300 million
LONDON, UK: Future plc has acquired Dennis, a leading consumer media subscriptions business, which includes trusted Wealth, Knowledge and B2B technology specialist titles such as, Kiplinger, MoneyWeek, The Week & IT Pro, from Exponent Private Equity LLP. The acquisition, which is expected to be materially earnings enhancing, is for a purchase price of approximately £300m,…
Mutares SE agrees to acquire Innomotive Systems Hainichen
MUNICH: Mutares SE & Co. has signed an agreement to acquire Innomotive Systems Hainichen GmbH from a Chinese state-controlled enterprise, a news release said. The company will strengthen Mutares’ Automotive & Mobility segment with production sites in Germany and China, with a total of around 450 employees and will be complementary to the KICO Group….
Tallink Grupp sells Baltic Retail OÜ
ESTONIA: Tallink Grupp AS has sold 100% shares in its wholly owned subsidiary Baltic Retail OÜ to Talwest Grupp OÜ, a news release said. The main activity of Baltic Retail OÜ, established in January 2018, is onshore fashion retail sales in Estonia and the company owns the franchise rights of five fashion brands and operates…