GENEVA: STMicroelectronics announced a transaction with Cartesiam to acquire its assets (including its IP portfolio) and to transfer and integrate its employees. Closing is subject to regulatory approvals, a news release said. Cartesiam, based in Toulon (France), is a software company founded in 2016, which specializes in artificial intelligence (AI) development tools enabling machine-learning and…
Chesterfield Resources to acquire a belt scale copper exploration project, called Adeline
LONDON: Chesterfield Resources will acquire a belt scale copper exploration project, called Adeline, in the highly-rated Labrador region of eastern Canada, a news release said. Chesterfield has entered into a share purchase agreement with Altius in which Altius has agreed to sell the entire issued share capital of a special purpose vehicle (SPV), which in…
Acquisition by Cortina Bidco: AFH Financial gets FCA approval
LONDON: AFH Financial Group (LON: AFHP) announced that the Financial Conduct Authority has, on 18 May 2021, approved the proposed acquisition of AFH by Cortina Bidco Limited (Bidco), a newly incorporated company indirectly controlled by funds managed by Flexpoint Ford, LLC, pursuant to the recommended cash acquisition by Cortina Bidco Limited of AFH. The Acquisition…
Open Orphan receives Court approval for capital reduction
LONDON: Open Orphan has received Court approval for the reduction in capital. The reduction of capital will become effective on registration of the Court order at Companies House, which is expected to occur in the next few days. The reduction of capital will give the Company the ability to not only effect the Distribution in…
KKR’s Bidco to acquire John Laing Group for £2.0 billion
LONDON: The boards of John Laing (LON: JLG) and Bidco have reached agreement on the terms of a recommended cash acquisition of the entire issued and to be issued ordinary share capital of John Laing by Bidco. Under the terms of the acquisition, each John Laing Shareholder shall be entitled to receive 403 pence in…
Lenta to acquire Billa Russia for EUR 215 million in cash
ST. PETERSBURG: Lenta LLC, an indirect subsidiary of Lenta IPJSC, signed an agreement to acquire the supermarkets business of Billa Russia GmbH for EUR 215 million in cash. The acquisition significantly accelerates Lenta’s expansion in Moscow, adding prime retail locations that represent mature retail properties with a high sales density. As a result of the…
Skanska carrying out additional work at Slussen for an additional value of SEK 1.5 billion
STOCKHOLM: Skanska and the Development Office, City of Stockholm, have agreed on a new target cost for remaining and additional work on the reconstruction of Slussen, Stockholm, Sweden. The new target cost generates an order booking of about SEK 1.5 billion, which will be included in the order bookings for Skanska Sweden for the second…
Urban Elevator Service acquires Aventura Elevator
MIAMI: Urban Elevator Service announced its acquisition of Aventura Elevator. Urban Elevator completed the acquisition through its subsidiary Urban Elevator Service FL. Aventura Elevator is a full-service elevator contractor specializing in installing, modernizing, repairing, and maintaining all types of vertical transportation equipment, and has been serving clients across southeastern Florida since 2012. The acquisition expands…
IMCD N.V. acquires Andes Chemical Corp
ROTTERDAM: IMCD N.V. announced the acquisition of Andes Chemical Corp., a news release said. This acquisition marks IMCD’s debut in Central America and Peru, expanding its presence in Latin America and throughout the Caribbean. “Andes Chemical further strengthens IMCD’s presence in the Americas region and opens exciting opportunities for development in countries new to our…
Abu Dhabi National Energy Company to host World Utilities Congress
ABU DHABI: Abu Dhabi National Energy Company PJSC (TAQA) will be the official host of the World Utilities Congress, a new global exhibition and conference addressing the future of low carbon power and water supplies. Organised by dmg events, the Congress will be an in-person event taking place in Abu Dhabi in May 2022. It…
Circa signs agreement for development of ReSolute plant site
OSLO: Circa Group AS has signed a Heads of Agreement with Gazel Energie Generation, the owner of the Emile Huchet Site, adjacent to the Carling Saint-Avold platform and Total Chemesis Composite Park, in north-eastern France. The agreement covers the land, buildings, energy, steam and utilities that enables the parties to complete final costing, environmental assessment…
Air France takes first long haul flight on sustainable aviation fuel produced in France
PARIS: Today, Air France Flight 342 took off from Paris-Charles de Gaulle airport’s Terminal 2E for Montreal with its tanks filled for the first time with sustainable aviation fuel produced in Total’s French plants. Air France-KLM, Total, Groupe ADP and Airbus joined forces to carry out the first long-haul flight powered by Sustainable Aviation Fuel…