SYDNEY: Downer EDI Limited entered into an agreement to sell its tyre management business (Otraco) to Bridgestone Corporation (Bridgestone). The sale price represents an enterprise value of $79 million, a news release said. Bridgestone, which was established in 1931 and is listed on the Tokyo Stock Exchange, is a global company with operations in more…
SMW Group to acquisition Sarina Crane Hire for up to A$35.8 million
AUCKLAND: SMW Group Limited has entered into a conditional agreement to acquire Sarina Crane Hire for a purchase price of up to A$35.8 million, a news release said. When the SMW Group was created through a reverse listing in July 2020 it had a vision to grow both organically and through strategic and complementary acquisition…
A.M. Best reaffirms Tower Limited’s A- (Excellent) credit rating
AUCKLAND: Global company rating specialist A.M. Best has reaffirmed Tower Limited’s financial strength rating at A- (Excellent). The rating reflects Tower’s balance sheet strength, which A.M. Best assesses as very strong. A.M. Best also noted Tower’s robust financial flexibility and prudent reinsurance programme. Tower Chair, Michael Stiassny welcomes the confirmation from A.M. Best saying this…
TraceSafe partners with PlotProjects to expand presence in new European markets
VANCOUVER: Tracesafe Inc. announced a new partnership with PlotProjects, a European leader in location-based marketing technology that delivers high-end geo-fencing and beacon services to app owners and developers. This partnership will offer a proven health and safety solution to the European market. TraceSafe’s industry-leading technology and its privacy-centric approach was a deciding factor for the…
Good360 receives grant from Walmart.org to expand operating capabilities and impact
ALEXANDRIA: Good360 announced Walmart.org donated $1.2 million to help expand distribution of critically needed goods to communities in need and further support building and maintaining sustainable nonprofit operating models within Good360’s nonprofit network. With record numbers of Americans experiencing job and income loss due to the COVID-19 pandemic, the need to support our communities with…
MPC Energy signs power purchase agreement for Colombian solar PV project
AMSTERDAM: MPC Energy Solutions NV has signed a power purchase agreement (PPA) for Parque Solar Los Girasoles, a solar PV project under development in Colombia. The COP-denominated agreement includes the delivery of around 23 GWh a year over a 12 year period starting in Q2 2022, a news release said. The power purchase agreement was…
dnata enhances global leadership team with key appointments
DUBAI: dnata, one of the world’s largest air and travel services providers, has enhanced its global leadership team, announcing key senior management appointments. The new set-up will help the company decisively adapt to changing global trends, drive synergies and efficiencies across its operations, and continue to deliver excellent services and value to customers. John Bevan…
Bank Alfalah joins the race for Silkbank’s consumer portfolio
KARACHI: Bank Alfalah Limited (BAFL) has approached Silkbank Limited seeking its concurrence to BAFL to apply to State Bank of Pakistan to proceed with the due diligence for the consumer portfolio of Silkbank Limited. Silkbank Limited has already accorded in-principle approval to Habib Bank Limited (HBL) to conduct due diligence for the same. Fauji Foundation…
Victory Square Technologies to invest in renewable energy company, Stardust Solar
VANCOUVER: Victory Square Technologies Inc. (VST) has signed a binding letter of intent (LOI) to invest in the renewable energy company Stardust Solar, a leading renewable energy company operating in the United States and Canada. Founded in 2017, Stardust Solar is a leader in renewable energy education in Canada, providing CSA/NABCEP approved design and installation…
Orascom adds $650 million to its backlog in Q1 2021
DUBAI: Orascom Construction PLC announces that it has added USD 650 million of new awards to its backlog in Q1 2021. These new awards mark an increase of 8% y-o-y over the level in Q1 2020. Projects in Egypt comprised 85% of new awards during Q1 2021 as the Group added contracts across the healthcare,…
Archer Limited signs offer letter to acquire DeepWell AS
HAMILTON: Archer Limited has signed an offer letter with Moreld laying out principle terms to purchase 100% of the shares in Deepwell AS. The contemplated transaction is subject to due diligence, negotiation of the transaction documentation, closing conditions and regulatory approvals. DeepWell is a leading Norwegian well intervention company focused on mechanical wireline and cased…
Total declares force majeure on Mozambique LNG Project
PARIS: Considering the evolution of the security situation in the north of the Cabo Delgado province in Mozambique, Total confirms the withdrawal of all Mozambique LNG project personnel from the Afungi site. This situation leads Total, as operator of Mozambique LNG project, to declare force majeure. Total expresses its solidarity with the government and people…