DOHA: Doha Bank, rated A by Fitch and Baa1 by Moody’s, successfully completed a USD 500 million 5-year senior unsecured bond at a yield of 2.431% per annum, which is equivalent to a credit spread of 150 basis points over 5-year Mid Swap Rate. The transaction was executed under the Bank’s USD 2 billion EMTN…
BH Mubasher changes name to BHM Capital
DUBAI: BH Mubasher Financial Services, a leading company in the UAE’s financial market, held its Annual General Meeting on 24th March 2021, which adopted a resolution to change the name of the company to BHM Capital Financial Services. The AGM was chaired by Mr. Al Hurr Mohammad Al Suwaidi, Chairman of BH Mubasher’s Board of…
AeroFarms merges with Spring Valley in a $1.2bn deal; trades at Nasdaq
NEWARK: AeroFarms has entered into an Agreement and Plan of Merger with Spring Valley Acquisition Corp., a special purpose acquisition company, to become publicly traded on Nasdaq under the new ticker symbol “ARFM”. The combined company will be led by David Rosenberg, Co-founder and Chief Executive Officer of AeroFarms. Under the terms of the Merger…
InstaMall, an online marketing platform, gets seed investment from Arif Habib
KARACHI: Arif Habib, Chairman Arif Habib Group, has made the seed investment in InstaMall, which is building a trustworthy, customer-centric and tech-enabled platform. “Pakistan is now in the early stages of its e-commerce life cycle and has a growing middle class who is seeking a trustworthy online marketplace that provides a seamless customer experience. InstaMall…
Guillaume Texier appointed new CEO of Rexel
PARIS: Rexel announced that Patrick Berard will step down as Chief Executive Officer on September 1, 2021. He will be succeeded on that date by Guillaume Texier, who joins the company after holding several senior management positions at Saint-Gobain. Mr. Texier was selected after an extensive search managed by the Board of Directors’ Nomination Committee,…
KONGSBERG signs agreement worth 1.7 billion NOK for deliveries to F-35 Joint Strike Fighter
OSLO: Kongsberg Defence & Aerospace AS has signed a new agreement with Lockheed Martin Aeronautics (LMA) worth 1.75 billion NOK for the F-35 Joint Strike Fighter program production lots 15-17. The agreement includes delivery of the F-35 Rudders, Vertical Leading Edges and Main Landing Gear Closeout panels for more than 500 aircraft. Production of these…
Irish Ferries will commence a new ferry service on the Dover – Calais route.
LONDON: Irish Ferries, a subsidiary of Irish Continental Group (ICG), announced a new service on the Dover – Calais route. Irish Ferries is the market leader for freight and passengers between Britain and the Republic of Ireland, a leadership position that has been built on the twin pillars of customer focus and investment in purpose…
Urban Logistics REIT announces £30 million portfolio sale
LONDON: Urban Logistics has exchanged contracts to sell five assets as part of a portfolio for £30.0 million at a 4.8% exit yield, realising a total property return of 78.8%. The sale is in line with Urban Logistics’ stated strategy of active portfolio management and value optimisation where appropriate. Completion is expected to take place…
Argo and DMG Blockchain to launch first clean energy Bitcoin mining pool
LONDON: Argo Blockchain, a global leader in cryptocurrency mining, has signed a Memorandum of Understanding (MoU) with DMG Blockchain Solutions to launch the first Bitcoin mining pool powered exclusively by clean energy. Under the terms of the MoU, Argo and DMG will jointly launch Terra Pool, a Bitcoin mining pool powered by clean energy. This…
Renew Holdings to acquire J Browne Group Holdings for £29.5 million
LONDON: Renew Holdings has agreed to acquire the entire issued share capital of J Browne Group Holdings Limited for a cash consideration of £29.5 million, a news release said. J Browne is a water focused engineering services business based in Enfield, North London, operating throughout the South of England for Thames Water, Southern Water, Affinity…
Safestay Plc selling Edinburgh Hostel to a&o Hotels and Hostels for £16 million
LONDON: Safestay Plc has entered into conditional sale and purchase agreements to sell the Edinburgh Hostel to a&o Hotels and Hostels for a cash consideration of £16 million payable at completion, representing a 22% premium to the £13.4 million book value. The 2019 annual EBITDA of the hostel pre-COVID 19 was £1.7 million. The Group…
Aviva to sell Aviva Poland to Allianz for €2.5 billion
LONDON: Aviva plc has reached a significant milestone in the execution of strategy, with the agreement to sell its entire shareholding in Aviva Poland to Allianz for a cash consideration of €2.5 billion, valuing the acquired business at €2.7 billion, a news release said. Aviva will now focus on its strongest businesses in the UK,…