AMSTERDAM: Aegon is exercising its right to redeem the USD 250 million floating rate perpetual capital securities with a minimum coupon of 4% issued in 2005. The redemption is in line with Aegon’s target to reduce leverage, a news release said. The redemption of these grandfathered Tier 1 securities will be effective September 15, 2021,…
Perpetual Limited buys Jacaranda Financial Planning
SYDNEY, AUSTRALIA: Perpetual Limited has announced the acquisition of Jacaranda Financial Planning Pty Ltd, a leading Sydney and Melbourne based boutique wealth advisory firm focused on the high net worth market segment with funds under advice (FUA) of $915 million as at 30 June 2021. Perpetual Chief Executive Officer and Managing Director, Rob Adams said:…
Anthony Wamsteker appointed CEO of Praemium Limited
MELBOURNE, AUSTRALIA: Praemium Limited announced the appointment of Anthony Wamsteker as Chief Executive Officer (CEO), effective from 16 August 2021. Anthony has held the role of Executive Director and Interim CEO since May 2021. Anthony previously joined the Praemium Board in November 2020 following Praemium’s acquisition of Powerwrap where he was Chairman. He brings over…
Pakistan’s automobile sales surge 114%
KARACHI: Pakistan Automobile Manufacturers Association (PAMA) released latest automobile sales data for July 2021, portraying 114 per cent increase in automobile sales to 24,918 units. Likewise, on a monthly basis, auto sales surged 87 per cent in July due to pent-up demand and off-take was visibly higher. “The triple digit growth in automobile sales volumes…
Kalera AS acquires &ever GmbH for EUR 130 million
OSLO, NORWAY: Kalera AS has entered into a share purchase agreement for the acquisition of all shares in &ever GmbH for a total consideration reflecting an enterprise value for &ever GmbH of EUR 130 million. The consideration will consist of a combination of cash and Kalera shares. Under the terms of the agreement, &ever GmbH…
Indoor Skydive buys virtual reality production studio
SYDNEY, AUSTRALIA: Indoor Skydive Australia Group Limited announced the acquisition of Red Cartel, Virtual Reality Production Studio and content developers. Red Cartel are one of Australia’s leading experts in Virtual Reality, AR, XR, location-based entertainment and premium animated content for Games, Venues and Enterprise. The company has over 20 years of experience servicing a large…
Pershing Square buys stake in Universal Music Group
LONDON, UK: Pershing Square Holdings announced that Pershing Square Holdings Ltd., Pershing Square L.P., and Pershing Square International Ltd., through an affiliated entity, have acquired 128,555,017 Ordinary Shares of Universal Music Group (UMG), representing 7.1% of the company from Vivendi S.E. for approximately $21.78 per share (or €18.58 per share at today’s exchange rate). The…
Mail.ru injects $60.3mn into AliExpress JV
LONDON, UK: Board of Directors of Mail.ru Group Limited approved the company’s participation, together with certain other shareholders, in the additional funding round of AliExpress Russia JV. Following approval from the Board, the Company submitted a $60.3mn payment to AER in return for additional shares in the AliExpress JV as part of its new share…
Credit ratings of Bondex Insurance Company upgraded
OLDWICK, NEW JERSEY: Insurance rating agency, AM Best has upgraded the Financial Strength Rating to B++ (Good) from B+ (Good) and the Long-Term Issuer Credit Rating to “bbb” (Good) from “bbb-” (Good) of Bondex Insurance Company. The outlook of these Credit Ratings is stable, a news release said. These ratings reflect Bondex’s balance sheet strength, which…
ITV acquires minority stake in ismybillfair.com
LONDON, UK: ITV Plc has concluded an investment in Nineteen21 Limited, which trades as ismybillfair.com. ismybillfair offers an online service that saves UK households time and money, by getting a fairer price for household bills from their current supplier, rather than having to go through the hassle of switching. The service is currently live for energy…
Etalon Group announces land acquisition in St Petersburg
LONDON, UK: Etalon Group Plc, one of Russia’s largest and longest-established development and construction companies, announces the acquisition of a land plot in the Petrogradskiy district of St Petersburg for the construction of a premium-class residential complex. The project’s planned NSA will be 63 ths sqm. The site is located near the Pesochnaya embankment and…
Restore plc acquires PRM Green Technologies
KARACHI: Restore plc has acquired 100% of the share capital of PRM Green Technologies Ltd, a leading IT recycling and asset disposition (ITAD) business, on 9th August 2021, a news release said. Restore plc is the UK’s leading provider of integrated information and data management services, secure technology recycling and commercial relocation solutions. This is…