BRISBANE: Bank of Queensland Limited (BOQ) has entered into an agreement to acquire 100% of Members Equity Bank Limited (ME Bank) for cash consideration of $1.325 billion, a news release said. The acquisition will be funded by an underwritten capital raising of $1.35 billion. Chairman Patrick Allaway stated, “Today’s announcement is another major step in…
Tower Limited to acquire ANZ legacy portfolio
AUCKLAND: Tower Limited has agreed to pay $14 million in cash to ANZ to acquire and assume ANZ’s rights and obligations relating to servicing a portfolio of insurance underwritten by Tower. This transaction enables this portfolio to be brought into the Tower Direct business. Tower provided insurance for ANZ and National Bank customers between 1990…
Manuel Ramos appointed CEO of Silver Mountain Mining Operations Inc
SYDNEY: Eagle Mountain Mining Limited has appointed Manuel Ramos as Chief Executive Officer of the Company’s wholly-owned US subsidiary, Silver Mountain Mining Operations Inc, the operator of the Oracle Ridge Copper Project. Ramos is a veteran of the Arizona copper industry. He was President and Chief Operating Officer for ASARCO LLC between 2009 and 2018….
Qatari Germany for Medical Devices evaluating plant expansion
DOHA, QATAR: Qatari Germany for Medical Devices Company (QGMD), a leading manufacturer of Medical Devices in the Middle East, is currently studying the extent of the possibility of expanding the plant by adding additional production lines to be able to meet local and international orders, a news release said. The demand for medical supplies is…
MCB – Corporate Briefing
MCB held its conference call today whereby they discussed the banks’ financials and its future outlook. The call was led by the CFO Mr. Hammad Khalid. Highlights: · To recall, MCB announced earnings for CY20 slightly below expectations, at PKR 29.4bn (EPS: PKR 24.82), depicting a YoY uptick of 23%, while declining 40% QoQ (4QCY20…
Engro Corporation Limited – Analyst Briefing Takeaways
The management of Engro Corporation Limited (ENGRO) held an analyst briefing session on 19th Feb’21 to discuss the CY20 financial result and future outlook. Highlights: · To recall, the company posted consolidated earnings of PKR 25,100mn (EPS: PKR 43.57) in CY20 compared to PKR 16,533mn (EPS: PKR 28.69) in CY19, up by 52% YoY. This…
Daily Mail and General Trust to sell EdTech business, Hobsons for $410 million
LONDON: Daily Mail and General Trust plc (DMGT) has agreed the sale of Hobsons, its EdTech business, in two separate transactions, for total proceeds of approximately US$410 million, a news release said. Hobsons’ Naviance and Intersect businesses are being sold to US-based PowerSchool, a leading provider of K-12 education technology solutions, for approximately US$320m, and…
NewRiver REIT announces acquisition of The Moor, Sheffield in a Joint Venture with BRAVO
LONDON: NewRiver REIT announced that its joint venture with BRAVO Strategies III LLC in which it holds a 10% stake has exchanged contracts to acquire The Moor, a 28 acre estate in Sheffield city centre, from CEP ASI UKPF Nominee 1 Limited and CEP ASI UKPF Nominee 2 Limited, for total consideration of £41 million,…
Urban Logistics REIT announces £28 million of logistics acquisitions
LONDON: Urban Logistics has announced the acquisition of six logistics assets for a total consideration of £27.8 million at a 6.87% NIY. Richard Moffitt, Chief Executive, commented: “We are delighted with these new logistics assets which are perfectly positioned to deliver essential goods the “last mile” to customers and businesses in key conurbations. “In line…
Assura plc acquires Apollo to strengthen development pipeline and capability
LONDON: Assura plc, the UK’s leading primary care property investor and developer, has completed the acquisition of primary care developer Apollo Capital Projects Development Limited (Apollo). Apollo has a strong, 20-year track record of developing high-quality primary care properties across the UK, with a very experienced four-person development team. As well as expanding the Assura…
Sistema and RDIF agree to jointly develop Binnopharm Group
MOSCOW: Sistema PJSFC has completed the establishment of the pharmaceutical holding company Binnopharm Group, a news release said. To create the pharmaceutical holding company, Sistema and its financial partner, VTB Group (VTB), contributed their 56.2% stake in OJSC Sintez (which includes CJSC Biocom) to the equity of Binnopharm Group. At the same time, Sistema, VTB…
NOVONIX partners Emera Technologies to manufacture energy storage systems for community microgrids
SYDNEY: NOVONIX Limited has announced a partnership with Emera Technologies, a business unit of Canadian-listed Emera Inc., to develop and manufacture energy storage systems. The partnership will be targeting significant market opportunities throughout North America, a news release said. Novonix will be participating in the partnership through its wholly owned subsidiary, Novonix Battery Technology Solutions,…