MOSCOW: Magnitogorsk Iron & Steel Works (MMK) announced that Mintha Holding Limited, whose ultimate beneficiary is Mr. V. Rashnikov, has sold 335.229 million ordinary shares in the Company. These shares represent 3% of the issued ordinary share capital of Magnitogorsk Iron & Steel Works. The shares were sold to Goldman Sachs International for resale to…
Drake & Scull International wins over AED376 million contracts
DUBAI: Drake & Scull International (DSI) has won contracts of over AED 376 million in Tunisia, India and Palestine, a news release said. Drake & Scull International (DSI) is a market leader in electromechanical, integrated design, engineering, and construction, for water, power and oil and gas sectors. The company is also bidding for several projects,…
Reabold Resources offers to acquire 13.12% additional shares in Corallian Energy Limited
LONDON: Reabold Resources has conditionally offered to acquire additional Corallian Energy Limited shares from existing Corallian shareholders, in exchange for Reabold shares, at a ratio of 474 Reabold shares for 1 Corallian share, potentially increasing Reabold’s shareholding in Corallian to a maximum of 49.99%. Assuming a full take up of the Offer, Reabold would acquire…
Nevada re-opening draws optimism for bounce-back
LONDON: Immotion Group, the UK-based immersive entertainment group, announced that with effect from 1 May 2021, the Las Vegas Strip, home to Immotion Group’s flagship VR Theatre installation, ‘Undersea Explorer’ at Shark Reef Aquarium (Mandalay Bay Resort and Casino), will be allowed to expand all attractions from 50% to 80% capacity per the local Clark…
Ofcom spectrum auction: final results announced
LONDON: Ofcom has today announced the final results of the auction for spectrum in the 700 MHz and 3.6-3.8 GHz bands, following completion of the remaining stages. In March, we announced the results of the principal stage, which determined how much spectrum each of the four bidders – EE Limited, Hutchison 3G UK Limited, Telefonica…
Halma Plc acquires PeriGen Inc. for $58 million
LONDON: Halma Plc has acquired PeriGen Inc., based in North Carolina, USA, in a $58 million deal, a news release said. PeriGen’s advanced technology protects mothers and their unborn babies by alerting doctors, midwives and nurses to potential problems during childbirth. Its software solutions use artificial intelligence to provide an automated early warning platform during…
£10.9m acquisition of supported living and care facilities in South Wales
LONDON: Civitas Social Housing PLC, has completed the acquisition of 15 supported living and care facilities in South Wales for a total consideration of £10.9 million. The portfolio provides 51 beds and long-term support for individuals with learning disabilities and mental health care needs along with dedicated facilities to develop and enhance independent living skills,…
Focusrite plc buys Sequential LLC in a $24 million deal
LONDON: Focusrite plc, the global music and audio products company, has bought Sequential LLC, a California based, world-renowned, high-end synthesizer company. The existing management and team will stay with the business post acquisition. The total consideration to be paid is $24 million (c£18 million) for the business, with initial consideration of approximately $20 million of…
Warren Equity announces acquisition of ADB Companies and affiliates from Keeley
SAINT LOUIS: Warren Equity Partners announced the acquisition of ADB Companies LLC, and its affiliates from the Keeley Companies. ADB, based in St. Louis, Missouri, is a leading turnkey provider of telecommunication and utility infrastructure solutions in the United States. Rusty Keeley, CEO of the Keeley Companies, and Chad Johnson, CEO of ADB, will maintain…
Xerox acquires Groupe CT
NORWALK: Xerox has acquired Groupe CT, a leading independent document management provider in Eastern Canada, a news release said. Terms of the transaction were not disclosed. “We’re continuing to grow our presence in the North America small and midsize business (SMB) market,” said Mike Feldman, president of Americas Operations and Global Document Services, Xerox. “With…
Toyota Motor’s Woven Planet to acquire Lyft’s self-driving car division
SAN FRANCISCO: Woven Planet Holdings, a subsidiary of Toyota Motor Corporation, has signed an agreement for the acquisition of Lyft Inc.’s self-driving vehicle division, Level 5 in a $550 million deal The transaction also includes multi-year non-exclusive commercial agreements between Lyft and Woven Planet to accelerate the development and enhance the safety of automated driving…
TechnipFMC to sell 14% of Technip Energies shares for €277.5 million
PARIS: TechnipFMC announced the sale of 25 million Technip Energies shares, representing around 14% of Technip Energies’ share capital at €11.10 per share, yielding total gross proceeds of €277.5 million. The sale will be through a private placement by way of an accelerated bookbuild offering. Concurrently with the placement, Technip Energies will purchase from TechnipFMC…