HELSINKI: Valoe Corporation and Sin Cars Industry have signed an agreement for development, prototyping, and mass production of a vehicle integrated PV System for a light last-mile delivery electric vehicle manufactured by L City Automotive GmbH, a Joint Venture Partner of Sin Cars. Sin Cars and L CITY estimate to sell up to 20000 vehicles…
SUEZ acquires NWS Holdings’ 50% stake in Suyu for €253m
PARIS: SUEZ Group announced that it has completed the acquisition of NWS Holdings’ 50% indirect stake in Suyu. Following the acquisition of the 50% stake from NWS Holdings, SUEZ now owns 100% of Suyu. The final cash consideration for the transaction amounts to c.€253m. In 2019, Suyu generated an EBITDA and a Net Income of…
Van Lanschot Kempen appoints Maarten Edixhoven as Chairman of the Management Board
AMSTERDAM: Van Lanschot Kempen’s Supervisory Board intends to appoint Maarten Edixhoven (50) as Chairman of the Management Board of Van Lanschot Kempen. The regulators have approved the appointment and the Van Lanschot Kempen Works Council has issued positive advice on the appointment. Shareholders will be informed of the intended appointment of Maarten Edixhoven during an…
S&P affirms Sistema’s credit rating at BB, outlook positive
MOSCOW: Sistema PJSFC, a publicly traded Russian investment company, announced that S&P Global Ratings has affirmed the Corporation’s credit rating at ‘BB’ and upgraded the outlook to “positive” as a result of the IPO of the Corporation’s portfolio company Segezha Group. Vladimir Travkov, Sistema’s Vice President for Finance, said: “The upgrade of S&P’s outlook to…
AstraZeneca shareholders vote in favour of Alexion acquisition
LONDON: A requisite majority of AstraZeneca (LON: AZN) shareholders has approved the proposal to acquire the entire common stock of Alexion Pharmaceuticals Inc., a news release said. AstraZeneca (LON: AZN) continues to expect the acquisition will close in Q3 2021, subject to approval by Alexion shareholders, certain regulatory approvals, and other customary closing conditions. The…
Gul Ahmed to spin out its retail business ‘Ideas’ through an IPO
KARACHI: Gul Ahmed Textile Mills Limited is spinning out its retail segment, Ideas, to enable it to be a 100% owned subsidiary. “Gul Ahmed is aiming for its Initial Public Offering (IPO) between November 2021 and March 2022 depending on the market conditions,” company management said. Gul Ahmed Textile Mills held its analyst briefing to…
Everfuel plans EUR 250 million HySynergy Phase II electrolyser in Fredericia
FREDERICIA: Everfuel A/S announced the plans of the HySynergy Phase II development of a 300MW electrolyser and Power-to-X (PtX) facility adjacent to the Fredericia refinery. The HySynergy Phase II involves a significant scale-up in the production of green hydrogen, planned for a complementary use in both zero-emission hydrogen mobility and as green feedstock to various…
Cécile Béliot to become Group CEO at Bel Group
SURESNES: Bel Group has announced its intention to move towards a form of governance that separates the functions of Chairman of the Board of Directors and Chief Executive Officer, which should lead Antoine Fiévet and the Nomination Committee to submit the appointment of Cécile Béliot to Group CEO for a vote by the Board of…
Capgemini to redesign global collaborative workplace at Airbus
PARIS: Capgemini SE has signed a five-year contract with Airbus to support the redesign of its global collaborative workplace, both in terms of working methods and tools. In terms of tools and technology Capgemini will enable online publishing and sharing services, collaboration and productivity tools, messaging services, instant messaging, video conferencing, and digital telephony services….
Arcadis wins €16 million contract to support construction of North-South Corridor in Singapore
AMSTERDAM: Arcadis NV has been awarded a SG $26 million (€16 million) contract by the Land Transport Authority (LTA) in Singapore to provide project management support to supervise the construction of the North-South Corridor (NSC) project. Singapore’s North-South Corridor (NSC) was originally planned as an expressway but has since been reconceptualized to also accommodate Singapore’s…
National Australia Bank gets Court approval to proceed with 86 400 Holdings acquisition
LONDON: National Australia Bank Limited (ASX: NAB) notified the Federal Court of Australia has made orders approving the scheme of arrangement under which NAB will acquire the remaining share capital in 86 400 Holdings Ltd, the holding company of Australian neobank, 86 400. In January 2021, NAB announced its intention to acquire 86 400 to…
Proximar Seafood signs a MoU with Marubeni Corporation
TOKYO: Proximar Seafood has signed a Memorandum of Understanding (MoU) with Marubeni Corporation, a Japan based general trading house, with regards to a potential sales and marketing agreement. This agreement is an important milestone for Proximar and in line with the company’s strategy to engage in strategic partnerships with strong local partners in Japan. Marubeni…