MANAMA: GFH Financial Group (GFH) announced the acquisition of a mission-critical distribution facility in Chicago, Illinois, which has been leased since November 2015 to blue chip tenant, Michelin North America. The transaction, valued at over c.US$135 million, marks the continued expansion of GFH’s global portfolio of income generating real estate assets including prime distribution centres; well…
Bombardier suffers cybersecurity breach
MONTREAL: Bombardier recently suffered a limited cybersecurity breach as an unauthorized party accessed and extracted data by exploiting a vulnerability affecting a third-party file-transfer application, which was running on purpose-built servers isolated from the main Bombardier IT network. In accordance with established cybersecurity procedures and policies, Bombardier promptly initiated its response protocol upon detection of…
Medibank CEO Craig Drummond to retire on June 30
SYDNEY: Medibank Private Limited announced that Craig Drummond will retire as Chief Executive Officer on 30 June 2021. Appointed in July 2016, Drummond said that leading Medibank had been an incredible privilege. “We have vvorked hard to provide our customers with greater value, we have built a health and wellbeing platform and have driven change…
Meridian to begin constructing $395 million wind farm in Hawke’s Bay
AUCKLAND: Meridian Energy will soon begin construction of a new $395 million wind farm in Hawke’s Bay, a news release said. The Harapaki Wind Farm will be New Zealand’s second-largest wind farm with 41 turbines generating 176 MW of renewable energy, enough to power over 70,000 average households. The construction will take around three years…
Midland acquires nickel-copper position adjacent to Rio Tinto in Grenville
MONTREAL: Midland Exploration Inc. has acquired an important strategic position adjacent to Rio Tinto Exploration Canada Inc. for nickel-copper (Ni-Cu) in the Grenville. This important strategic position is located northeast of the town of La Tuque in the Mauricie region and consists of 815 claims wholly owned by Midland and acquired by map designation, in…
Juva Life kicks off industrial scale cannabis cultivation at Stockton Facility
VANCOUVER: Juva Life Inc. announced the commencement of commercial cannabis cultivation at its Stockton, California facility. Subsequent to state licensing approval in January, the Juva cultivation team quickly concluded preparatory efforts for plant delivery this week. After 30 months of development effort, Juva Life has entered a vitally important phase of its business development with…
Simplifai partners VAD Technologies to push market penetration in Middle East
OSLO: ELOP’s AI business unit Simplifai has entered into the strategic partnership agreement with VAD Technologies (VAD), one of the largest distributors of IT and technology services in the Middle East, to fast-track the market penetration of Simplifai’s AI solutions in the Middle East. VAD’s head office is located in Dubai, and the company has…
Keliber Oy sells 30 percent stake to Sibanye-Stillwater Limited for EUR 30 million
OSLO: Keliber Oy and leading international mining company Sibanye-Stillwater Limited have entered into an investment agreement for an initial phased equity investment of EUR 30 million for approximately 30% shareholding in Keliber, a news release said. In addition, existing shareholders will be offered to subscribe for shares for up to EUR 10 million on the…
Total farms down two portfolios of renewable assets in France
PARIS: Total SE, through Total Quadran – its 100% renewable electricity production subsidiary in France, farms down respectively to Banque des Territoires and Crédit Agricole Assurances half of its equity in two portfolios of renewable projects. Crédit Agricole Assurances acquires a 50% stake in a portfolio consisting of 9 wind farms (103 MW) and 44…
KKR to acquire Telefónica Chile’s wholesale fiber optic network
NEW YORK: KKR has entered into an agreement with Telefónica, a leading global telecommunications company, to establish Chile’s first open access wholesale fiber optics company with the mission to bring greater broadband access across Chile, a news release said. Under the agreement, KKR will acquire a majority stake in Telefónica Chile’s existing fiber optic network,…
Phoenix Group and Standard Life Aberdeen simplify their partnership to accelerate growth
LONDON, UK: Following the acquisition of Standard Life Assurance Limited (SLAL) from Standard Life Aberdeen plc (SLA) in 2018, Phoenix Group and SLA entered into a strategic partnership to advance the interests of both businesses. At the same time SLA became a leading shareholder in Phoenix and today has a strategic shareholding of circa 14%….
Love Hemp submits novel food dossier to FSA
LONDON: World High Life’s subsidiary Love Hemp Limited has submitted its Novel Food dossier to the Food Standards Agency (FSA). The dossier submitted by Love Hemp is in support of the FSA’s move to regulate a currently unregulated CBD market in the UK. Tony Calamita, CEO of World High Life and Love Hemp, says “We…