SYDNEY: Westpac notes that Fitch Ratings (Fitch) has today revised the Outlook for Westpac Banking Corporation’s Long Term Issuer Default Rating (IDR) to ‘Stable’, from ‘Negative’. The change in ratings outlook reflects Fitch’s view of the improved economic prospects in Australia. Fitch has affirmed Westpac Banking Corporation’s long-term issuer credit ratings at ‘A+’, and ‘F1’…
Sodexo Inc completes inaugural US dollar bond issue of $1.25 billion
ISSY-LES-MOULINEAUX: Sodexo Inc, the US subsidiary of Sodexo, has successfully completed yesterday a bond issue for a total principal amount of $1.25 billion in two tranches: $500 million due April 2026 with a coupon of 1.634% and $750 million due April 2031 with a coupon of 2.718%. This transaction is Sodexo Inc’s inaugural US dollar…
Calviri appoints Marc Wolff Chief Executive Officer
PHOENIX: Calviri Inc. announced the appointment of Marc Wolff as Chief Executive Officer. Founder and current CEO, Stephen Albert Johnston, will continue to serve as Chairman of the Board of Directors and Founding CEO. “We are thrilled to welcome Marc Wolff to Calviri as we progress to commercialization. Marc’s successful life science and healthcare management…
Navigator Holdings and Ultragas APS to merge fleets and businesses
OSLO: Navigator Holdings Ltd. signed a non-binding Letter of Intent with Naviera Ultranav Limitada (Ultranav) to merge Ultragas ApS’ fleet and business activities with Navigator. The transaction would unite two leading gas shipping companies with similar culture and mindset and is expected to enhance Navigator’s safe, reliable, energy and environmentally efficient, marine transport services. The…
PayPoint completes acquisition of RSM 2000 Ltd
LONDON: PayPoint Plc has completed the acquisition of RSM 2000 Ltd, a leading digital payments business providing innovative solutions to a significant number of clients across diverse sectors, including charities, not-for-profit organisations and SMEs in the UK. PayPoint is well-placed to take advantage of the trends that have accelerated over the past year due to…
HEXPOL acquires Unica, a Spanish company in rubber compounds
STOCKHOLM: HEXPOL has signed an agreement to acquire 100% of Unión de Industrias C.A., S.A. (Unica) from Espiga Capital, a Spanish based Private Equity firm. Unica is a significant player in Rubber Compounds in Spain, supplying several demanding customers in the automotive, construction and agriculture sectors. ”Through the acquisition of Unica, we will strengthen our…
Sanofi to create a €400 million vaccine production center in Singapore
PARIS: Sanofi announced a €400 million investment over five years to create a unique vaccine production center in Singapore. In partnership with the Singapore Economic Development Board (EDB), the new site will mainly supply the Asian region and complement existing manufacturing capacities in Europe and North America. The investment furthers Sanofi’s commitment to driving the…
Huawei sees significant potential to support Pakistan’s journey to a digital economy
KARACHI: On the sidelines of the SAMENA Leaders’ Summit, the President of Huawei Middle East, Charles Yang, has provided an update on the company’s business globally and across local markets, with his comments following Huawei’s release of its annual earnings results for 2020. The executive has emphasized the strategic importance of the region to the…
Mutares SE & Co. to buy Alan Dick Communications (ADComms) from Panasonic Europe
MUNICH: Mutares SE & Co. has signed an agreement to acquire Alan Dick Communications Limited (ADComms) from Panasonic Europe BV. The company is a leading provider of critical communications and security systems to the UK infrastructure sector, specializing in rail. The closing of the transaction is expected in Q2 2021. Headquartered in Scunthorpe, UK, ADComms…
BATM’s Telco Systems subsidiary partners with albis-elcon
LONDON: BATM Advanced Communications announced that its Telco Systems subsidiary has formed a strategic partnership with albis-elcon, a supplier of networking products and systems to communications service providers in the telecommunications industry, to jointly offer the Group’s network function virtualisation (NFV) solution, which represents a further route to market. The Group’s NFVTime virtualisation technology has…
Sistema PJSFC’s subsidiary Segezha Group intends to conduct an IPO on Moscow Exchange
MOSCOW: Sistema PJSFC’s subsidiary Segezha Group PJSC announced its intention to conduct an initial public offering (IPO) of ordinary shares and to list on Moscow Exchange. The Offering will consist of a primary offering of newly issued shares expected to raise at least RUB 30 billion and an over-allotment option of secondary shares of up…
CIP Merchant acquires stake in Ixico plc
LONDON: CIP Merchant Capital announced its investment in Ixico plc, the artificial intelligence data analytics company delivering insights in neuroscience, quoted on AIM. The Company has acquired, in aggregate, 1,784,500 ordinary shares of 1p each in Ixico, representing approximately 3.72 percent of Ixico’s issued share capital, for a total consideration of approximately £1.2 million. For…