KARACHI: The Board of Directors of Waves Singer Pakistan Limited (WSPL) have approved submission of an Expression of Interest (EOI) for the acquisition of 96.6 percent shares in Heavy Electrical Complex (Private) Limited (HEC) from the Government of Pakistan by way of privatization process. The EoI will be followed by a detailed due diligence process…
Pakistan CPI falls to 5.65% YoY during January
Headline inflation declined to 5.65% YoY (down 0.21% MoM) in January, compared to 7.97% YoY in December, beating market expectations of around 6.0% YoY. Most of the sequential decline in inflation was on the back of a 2.65% MoM drop in food inflation, which had until recently been in the spotlight given its impact on…
Albioma wins 4.8 MWp of solar projects in mainland France
PARIS: Albioma has announced today that it has won an aggregate capacity of 4.8 MWp in the government’s call for tenders (CRE4) for “solar power plants on buildings with a capacity between 100 kWp and 8 MWp” in September 2020. This capacity is spread over 20 projects, located in the Auvergne-Rhône-Alpes, Occitanie and Provence-Alpes-Côte-d’Azur regions,…
Moody’s upgrades Sbanken ASA’s deposit rating to A2
OSLO: Moody’s Investor Service has upgraded Sbanken’s rating for long-term deposits to A2 from A3, with the outlook remaining – Positive. The upgrade is driving by the expectation that the bank will issue additional loss-absorbing instruments, mainly in the form of senior non-preferred (SNP) debt), following the receipt of Minimum Requirement for Own Funds and…
Play Magnus Group acquires Interchess BV, operator of New In Chess
OSLO: Play Magnus Group expands its industry-leading library of chess content with the acquisition of Dutch chess publisher, Interchess BV, which operates the New In Chess brand. New In Chess has built a world-class library of chess content comprising books, ebooks, digital subscriptions, and magazines. New In Chess has published over 200 titles, including best-sellers…
Jan Haglund leaves Komplett Bank to become CEO of Entercard
OSLO: Komplett Bank ASA CEO Jan Haglund has given notice to the Board of Directors to resign his position. He will take on the position as the CEO of Entercard in Sweden. Mr. Haglund will carry on his duties as CEO of Komplett Bank until the end of the second quarter this year. Exact timing…
Metsä Group chooses Zalaris for multi-country payroll and outsourcing of employees in 28 countries
OSLO: Zalaris ASA has signed a five-year agreement with Metsä Group to deliver Multi-Country Payroll technology and outsourcing services for 10,000+ employees operating in 28 countries. Reference is made to the announcement on 26 January regarding the signing of an agreement with a leading Nordic multinational company. The agreement with Metsä Group, which is one…
Ferguson Plc completes Wolseley UK disposal
LONDON: Ferguson Plc confirmed the completion of the disposal of Wolseley UK, its plumbing and heating distribution business, to Clayton, Dubilier and Rice. The Company previously announced its intention to return substantially all of the net proceeds of the disposal to shareholders by way of a special dividend. Ferguson expects to provide further details regarding…
Lok’nStore Group announces acquisition of trading store and sale of land
LONDON: Lok’nStore, the fast-growing self-storage company, has acquired the Lok’nStore managed store in Chichester and sold its freehold land site at Pantheon Park, Wolverhampton. The five-year old Chichester Store will be acquired for £4.025 million (as independently valued by Jones Lang LaSalle Limited). The Company will pay in aggregate, approximately £4.16 million in cash with…
JD Sports Fashion signs conditional agreement to buy DTLR in the US
LONDON: JD Sports Fashion Plc has entered into a conditional agreement for the acquisition of 100% of DTLR Villa LLC. Based in Baltimore, Maryland, and currently majority owned by BRS & Co. and Goode Capital, DTLR was established in 1982 and is a hyperlocal athletic footwear and apparel streetwear retailer. Originally named Downtown Locker Room,…
Gresham House increases operational portfolio to 395MW
LONDON: Gresham House Energy Storage Fund has completed the acquisitions of a 35MW battery project located in North Shields, Tyne and Wear and a 10MW battery project located in Essex. This transaction follows GRID’s recent acquisitions of two 50MW projects (Wickham and Thurcroft) and the 25MW Tynemouth project. The Projects are both operational battery-only sites…
FastForward Innovations makes investment in South West Brands Limited
LONDON: FastForward Innovations Ltd has invested £250,000 in South West Brands Limited, a London-based, group that is seeking to establish itself as a multi-brand consumer goods group developed specifically for the CBD industry. The Investment is by way of a two year, 6%, Convertible Loan Note (‘CLN’) as part of a funding round by SWB…