AMSTERDAM: VDL Groep B.V. has forwarded an indicative proposal to Neways Electronics International N.V. to acquire all outstanding shares in the capital of Neways. VDL Groep is a large shareholder in Neways. The indicative offer price is EUR 12.50 (cum dividend) in cash for each Neways share. Consistent with their fiduciary duties, the Board of…
MSCI Semi Annual Index Review May’21
§ Pakistan’s equity market has recorded a decrease of 2.2% or 1,002pts (USD based return of +0.67%) since the last MSCI semiannual review back in Feb’21. § At present, Pakistan has a weight of 0.016% in MSCI EM. What to expect May’21 SAIR § As per MSCI Global Index Methodology Apr’21, the criteria for Emerging Markets includes full…
Supernet Limited plans listing of its shares on Pakistan Stock Exchange
KARACHI: Supernet Limited, a wholly owned subsidiary of Telecard Limited, is exploring the option of listing its shares on Pakistan Stock Exchange (PSX) through an initial public offering, a bourse filing said. Telecard is actively looking towards enhancing its footprint in technology sector and feels confident that it will do so in coming months while…
Horisont Energi becomes newest member of the European Clean Hydrogen Alliance
SANDNES: Horisont Energi, the Norwegian carbon tech start-up, is further expanding its commitment to clean energy by joining the European Clean Hydrogen Alliance (ECH2A). The European Clean Hydrogen Alliance was formed as part of the European Union’s New Industrial Strategy for Europe in July 2020 in the context of the hydrogen strategy for a climate-neutral…
DGO announces $135 million acquisition of Cotton Valley upstream assets from Indigo Minerals LLC
LONDON: Diversified Gas & Oil plc (DGO) announced the $135 million conditional acquisition of certain Cotton Valley upstream assets and related facilities primarily in the state of Louisiana from Indigo Minerals LLC. Diversified Gas & Oil plc’s strategy of acquiring producing assets supported by their existing operational personnel is naturally and highly transferable to other…
BBGI Global Infrastructure completes a social infrastructure investment in London, UK
LONDON: BBGI Global Infrastructure S.A. has completed the acquisition of a 100% interest in a social infrastructure investment consisting of two recreation facilities and 100 affordable residential units across two sites in the London Borough of Tower Hamlets, UK. The public-private partnership project originally consisted of the design, construction, financing, operation, maintenance and rehabilitation of…
Headlam Group disposes of Swiss business, Belcolor AG for £12 million
LONDON: Headlam Group has entered into an agreement to dispose of its wholly-owned Swiss business, Belcolor AG, to the management team of Belcolor (management buyout). As a result of the disposal, Headlam will realise approximately £12.0 million in cash. Belcolor is a floorcoverings distribution business based in St. Gallen, Switzerland, and represents the entirety of…
Restore Plc to acquire Rainbow HoldCo Limited (EDM Group Limited) for £61 million
LONDON: Restore plc has entered into an agreement to acquire Rainbow HoldCo Limited, which trades as EDM Group Limited. The acquisition represents a strategically important transaction for Rstore Plc aligned to its stated acquisition criteria which will be additive to its core Records Management business and transformational for its growing digital business. Following the initial…
Zenith Energy to acquire Candax Energy Limited
LONDON: Zenith Energy Ltd. Announced that its recently incorporated subsidiary Compagnie Du Desert Ltd (CDD) has entered into a share purchase agreement (SPA) with Candax Energy Limited for the acquisition of a 100 percent interest in Candax’s fully owned subsidiary in Barbados, Ecumed Petroleum Tunisia Ltd (EPT), which holds a 100% interest in the El…
Jadestone Energy to acquire SapuraOMV’s Peninsular Malaysia Assets
LONDON: Jadestone Energy plc, an independent oil and gas production company focused on the Asia Pacific region, has executed a sale and purchase agreement with SapuraOMV Upstream Sdn. Bhd. to acquire SapuraOMV’s interest in Peninsular Malaysia for a total initial headline cash consideration of US$9 million. The Company will acquire interests in four licences, two…
Wereldhave sells Koningshoek shopping center for €47 million
AMSTERDAM: Wereldhave N.V. has sold its shopping center Koningshoek in Maassluis and has arranged a new green financing facility to cover for debt maturities from Q3 2022 to Q3 2023. Shopping center Koningshoek in Maassluis was sold for a total gross amount of €47 million. This is slightly above the bookvalue per year-end 2020. During…
CEO Angus Benbow leaves Centrepoint Alliance
SYDNEY: Centrepoint Alliance Limited notified that Chief Executive Officer Mr. Angus Benbow will leave the Company on May 28, 2021. Centrepoint Alliance Chairman, Mr. Alan Fisher, said: “We thank Angus for the contribution he has made to Centrepoint Alliance, particularly the repositioning of the advice business through his leadership of the Strategic Refresh transformation, during…