ISLAMABAD: Oil and Gas Development Company Limited (OGDCL) as operator (95%) and Government Holdings (Pvt) Limited (5%) has discovered gas & condensate from its exploratory well Sial-1, which is located in district Hyderabad, Sindh Province. The structure of Sial-1 was drilled and tested using OGDCL’s in house expertise. The well was drilled down to the…
Magnora ASA makes strategic entry into Nordic solar PV market with 25% acquisition in Helios
OSLO: Magnora ASA has entered into an agreement to acquire a 25 percent ownership share in a share issue in Helios Nordic Energy AB, a Swedish solar PV company focusing on large-scale greenfield projects in the Nordics. Magnora has the option to acquire a further 15 percent ownership share of Helios. Through a highly experienced…
FIRB approves the $205 million Acacia Ridge Terminal sale
SYDNEY: The Foreign Investment Review Board (FIRB) approved Aurizon Holdings’ sale of the Acacia Ridge Terminal to Pacific National (PN). The FIRB approval means the sale contract for the Terminal between Aurizon and PN becomes unconditional, with an expected close date of 26 March 2021. The $205 million sale to PN includes a non-refundable payment…
Fitch revises Sabra’s outlook to stable; Fitch and S&P affirm Sabra’s credit ratings
IRVINE: Sabra Health Care REIT Inc. (Nasdaq: SBRA) announced today that Fitch Ratings has revised its rating outlook for Sabra to Stable from Negative and that both Fitch and S&P Global Ratings affirmed the ratings for Sabra’s debt as ‘BBB-‘. Fitch notes in its report that its affirmation of Sabra’s ratings and revision to Stable…
Telenor ASA reports 2.0% EBITDA growth for 2020
OSLO: For the full year 2020, Telenor ASA delivered an organic EBITDA growth of 2 percent and a solid free cash flow of NOK 21 billion. The year 2020 was marked by the global pandemic. In this unprecedented situation, Telenor accelerated the digitalization, managed to safeguard employees and maintained critical connectivity to customers. “In the…
Aker Carbon Capture signs MoU with Lyse and Forus Energi
OSLO: Aker Carbon Capture has signed a Memorandum of Understanding (MoU) with Forus Energigjenvinning and Lyse to explore ways to support the development of a full-scale carbon capture and storage facility in the Stavanger/Sandnes region in southwestern Norway. The collaboration follows the recent launch of the “Longship” full-scale CCS project by the Norwegian government. “Carbon…
CDK Global acquires Square Root
HOFFMAN ESTATES: CDK Global Inc., a leading retail automotive technology company, completed the acquisition of Austin-based Square Root. Founded in 2006, Square Root is the creator of CoEFFICIENT, which helps automotive original equipment manufacturer (OEM) field managers understand and act on unique data patterns and opportunities for retailers in their markets. “The acquisition of Square…
Steve Penney appointed GM Funds Management at Kiwi Property
AUCKLAND: Kiwi Property has today announced the appointment of Steve Penney as General Manager Funds Management. Steve brings 20 years of investment and finance experience to the role, including most recently as General Manager, Investment, at Stride Property Group, where he was instrumental in the development and execution of the company’s funds management strategy. Prior…
WESCO sells Legacy Canada Utility business to Rexel Canada
PITTSBURGH: WESCO International Inc. announced that it has sold its legacy WESCO Utility business in Canada to Rexel Canada, a wholly owned subsidiary of France’s Rexel Group. The transaction partially fulfills WESCO’s commitment to divest its legacy Canadian Utility and Datacom businesses in connection with its Consent Agreement with the Canadian Competition Bureau related to…
PGT Innovations completes acquisition of 75% Stake in Eco Window Systems
VENICE: PGT Innovations Inc. has completed its acquisition of a 75% ownership stake in Eco Window Systems and its related companies. Eco is a leading manufacturer and installer of aluminum, impact-resistant windows and doors serving the South Florida region. “This acquisition further advances our strategy of expanding and diversifying our product lines with strong brands,”…
PLAYSTUDIOS to merge with Acies Acquisition Corp. and become a listed company
LAS VEGAS: PLAYSTUDIOS Inc. and Acies Acquisition Corp. have entered into a definitive merger agreement that will result in PLAYSTUDIOS becoming a publicly listed company. Upon the closing of the transaction, the combined company will be named PLAYSTUDIOS and remain listed on Nasdaq under the new ticker symbol “MYPS.” The transaction implies an enterprise valuation…
Dometic Group inks agreement to acquire Twin Eagles USA
STOCKHOLM: Dometic Group AB has entered into an agreement to acquire Twin Eagles, a leading US manufacturer of freestanding and built-in grills and outdoor kitchen solutions for the residential outdoor market, a news release said. The acquisition strengthens Dometic’s offering in the fast-growing residential outdoor area in North America. Twin Eagles is a North American…