LONDON, UK: Phoenix Group Holdings has entered into an agreement to sell Ark Life Assurance Company DAC to Irish Life Group Limited for a total cash consideration of €230 million (£197 million). The cash consideration represents 0.91x Solvency II Own Funds and is payable on completion, expected by early 20222, subject to customary regulatory and…
Disposal of Wirecard subsidiaries in Asia well advanced
MUNICH: The insolvency administrator has achieved further success in completing additional divestitures as part of the insolvency proceedings regarding the assets of Wirecard AG and Wirecard Sales International Holding GmbH. Specifically, this week the shares of two of four subsidiaries in the Asian-Pacific region were sold and transferred to Finch Capital. This was achieved in spite…
Redde Northgate Plc announces acquisition of Charged Electric Vehicles Limited
LONDON, UK: Redde Northgate plc, the leading integrated mobility solutions platform providing services across the vehicle lifecycle, on 9 July 2021 completed the acquisition of Charged Electric Vehicles Limited (ChargedEV), a specialist in the supply and installation of Electric Vehicle (EV) charging equipment across the UK. This strategically significant acquisition provides the Group with a…
Great optimism in the Norwegian economy leads to growth in all areas: DNB Bank
OSLO, NORWAY: DNB Bank is experiencing increased customer activity and optimism in step with the reopening of the Norwegian economy. The profit for the second quarter of 2021 was NOK 6 432 million, an increase of NOK 548 million from the first quarter of this year. After a very good first quarter, DNB’s financial performance…
Mutares SE acquires Ganter Construction & Interiors GmbH
MUNICH: Mutares SE & Co. KGaA has signed an agreement to acquire Ganter Construction & Interiors GmbH from MIGATI Beteiligungsgesellschaft mbH. The closing of the transaction is expected in the third quarter of 2021. The company headquartered in Waldkirch, close to Stuttgart, Germany, employs around 200 people and generates revenues of approx. EUR 110 million…
PlantX adds vegan wines to its U.S. e-commerce platform
VANCOUVER, BRITISH COLUMBIA: PlantX Life Inc. announced the addition of vegan wine to its expanding product selection on its U.S. e-commerce platform. The Company will be enhancing its product offerings by adding a curated selection of high-quality vegan wines by brands such as Rare Earth, Veuve Clicquot, Pino Cellars and Gravel Bar Winery. The new…
AEA Investors LP acquires Polygon Holding from Triton Partners
STOCKHOLM, SWEDEN: Funds advised by Triton Partners have signed an agreement to sell Polygon Holding AB to funds managed by AEA Investors LP, a news release said. AEA Investors, together with the management team, will acquire 100 percent ownership of Polygon. Closing of the transaction is subject to customary regulatory approvals and is expected to…
MMK Metalurji resumes operation of its hot rolling complex in Turkey
MOSCOW, RUSSIA: Magnitogorsk Iron & Steel Works (MMK) announced that MMK Metalurji, an asset of MMK in Turkey, has started hot tests at its electric arc furnace facility with a casting and rolling module. Annual production of hot-rolled coils at MMK’s Turkish production site amounts to about two million tonnes. MMK has begun the first…
AIDA Cruises expands its cruise program from Kiel
ROSTOCK, GERMANY: Due to the high demand for voyages from northern German ports, AIDA Cruises will deploy another Sphinx-class ship from Kiel. On August 15, 2021, the first four-day short cruise to Gdynia will start followed by a three-day cruise to Gothenburg. Both voyages will be offered alternately. A wide variety of travel dates are…
Swoop to acquire Beam Internet for $6.7 million
SYDNEY, AUSTRALIA: Swoop Holdings Limited has agreed to acquire Beam Internet, the largest privately owned fixed wireless network in regional South Australia, for a total enterprise value of $7.2 million, a news release said. Beam Internet offers fast and affordable high speed Wireless Broadband on its own network of over 60 towers and masts and…
Wesfarmers proposes to acquire Australian Pharmaceutical Industries for $687 million
SYDNEY, AUSTRALIA: Wesfarmers Ltd has submitted a non-binding, indicative offer to acquire 100 percent of the shares outstanding in Australian Pharmaceutical Industries (API) for $1.38 per share by way of a scheme of arrangement, a news release said. The proposal price corresponds to a total equity value for Australian Pharmaceutical Industries (API) of approximately $687…
Titomic USA acquires Silicon Valley-based Tri-D Dynamics Inc
SYDNEY, AUSTRALIA: Titomic Limited ‘s wholly owned subsidiary Titomic USA Inc has completed the acquisition of the business of Tri-D Dynamics Inc. The Tri-D acquisition is another milestone in the Titomic strategy to be a global solutions leader in additive manufacturing. Tri-D is a Silicon Valley-based design and manufacturing company developing smart pipe infrastructure for…