LONDON: Corcel Plc, the natural resource exploration and development company with interests in battery metals and flexible grid solutions, announced the acquisition of a 40% interest in the “shovel ready” Tring Road 50MW gas peaking project outside of Aylesbury from Arlington Energy Limited. The Company further announced its intention to explore and discuss with AE…
Techstep signs agreement to acquire Poland based Famoc for NOK 103 million
OSLO: Techstep ASA (FRA: B1T) has signed an agreement to acquire the entire share capital of Famoc S.A. and affiliates, a software company based in Poland with a European customer base, a news release said. The transaction will be financed by raising NOK 100 million of new equity in Techstep, fully underwritten by the largest…
Archer Limited acquires DeepWell for NOK 177 million
HAMILTON: Archer Limited has signed an SPA to acquire DeepWell based on an enterprise value of NOK 177 million on a debt and cash free basis. The Transaction is accretive both to Archer’s NIBD / EBITDA ratio and EV / EBITDA ratio. Archer will use existing cash and liquidity reserves to finance the Transaction. DeepWell…
Abu Dhabi based Multiply Marketing acquires stake in U.S. digital media platform Firefly
ABU DHABI: International Holding Company (IHC)’s subsidiary Multiply Marketing Consultancy (MMC) has acquired a stake in Firefly, a street-level digital media platform that connects audiences with dynamic media on taxis and rideshare vehicles. Investment accompanied by joint-venture plans to bring Firefly’s proprietary media technology to the Middle East. Firefly is backed by premier investors such…
Etisalat raises Euro 1.0 billion through 7-year and 12-year bonds
ABU DHABI: Emirates Telecommunications Group Company has successfully issued 7 and 12 years bonds under its established USD 10 billion “Euro Medium Term Note” (EMTN) Programme. Etisalat is rated Aa3 stable (Moody’s) and AA-Stable (S&PGlobal). The bonds issuance was completed after conducting roadshows with international investors on 4th and 5th of May 2021. The issued…
Senaat intends to merge Emirates Steel with Arkan Building Materials
ABU DHABI: General Holding Corporation (Senaat) has expressed intention to combine its wholly-owned subsidiary Emirates Steel Industries with Arkan Building Materials Company (ADX: ARKAN). “The Board of Directors of Arkan Building Materials Company (ADX: ARKAN), a leading construction and building materials company in the UAE, has received an offer from General Holding Corporation (Senaat) to…
Al Meera Consumer Goods to launch two Lifestyle Community Malls in Lusail
DOHA: Al Meera Consumer Goods Company has announced its acquisition of two properties from Qatari Diar where the retailer has set sights to launch Al Meera lifestyle community malls, a news release said. The properties, located in Lusail’s Fox Hills District and North Residential Villas District, will serve the surrounding neighbourhood and visitors to Lusail…
Berkshire Hathaway HomeServices Québec celebrates anniversary
MONTREAL: Berkshire Hathaway HomeServices Québec celebrated its first full year of operation. Berkshire Hathaway HomeServices Québec is an independently owned and operated franchise of Berkshire Hathaway HomeServices, one of the world’s fastest-growing residential real estate brokerage franchise networks, with more than 50,000 real estate professionals, in 1,500 offices throughout the U.S., Europe, the Middle East…
Experts predict bright path for U.S. commercial real estate in 2021
WASHINGTON: Speakers at Commercial Economic Issues and Trends Forum, held as part of the 2021 REALTORS Legislative Meetings & Trade Expo, discussed historic shifts in the nation’s economy over the past 12 months while projecting a favorable outlook for the commercial real estate market in the coming year. The U.S. economy experienced one of the…
FCPT acquire portfolio of National Tire and Battery properties for $11.6 million
MILL VALLEY: Four Corners Property Trust (NYSE:FCPT) announced the acquisition of six NTB (National Tire and Battery) branded properties for $11.6 million. The properties are located in highly trafficked retail corridors in Mississippi and Ohio and are corporate-operated under triple net leases with approximately three years of weighted average term remaining. The portfolio was priced…
PSO launches digitally integrated oil storage and dispatch terminal
KARACHI: Pakistan State Oil (PSO) has launched country’s first digitally integrated oil storage and dispatch terminal at PSO’s Keamari Terminal (KTA) in southern port city. Special Assistant to Prime Minister for Power & Petroleum Tabish Gauhar accompanied by Managing Director & CEO PSO Syed Muhammad Taha inaugurated the facility. This new milestone profoundly enhances the…
NYSE to delist ADRs of China Mobile, China Unicom (Hong Kong) and China Telecom
HONG KONG: China Mobile, China Unicom (Hong Kong) and China Telecom notified to the Hong Kong Stock Exchange that they expect the New York Stock Exchange (NYSE) to delist their American Depositary Shares (ADSs). The move will be effective 10 days after the exchange files a Form 25 to the U.S. Securities and Exchange Commission,…