SINGAPORE: Based on its very strong balance sheet, Insurance sector rating agency AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” of Fidelity Life Assurance Company Limited of New Zealand. The stable outlook ratings reflect Fidelity Life’s balance sheet strength, which AM Best categorises as…
Credit ratings of OneMain Holdings’ insurance subsidiaries
OLDWICK: Insurance sector raatng agency, AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb” of American Health and Life Insurance Company (Fort Worth, TX) and Triton Insurance Company (Fort Worth, TX). Both companies are wholly owned subsidiaries of OneMain Holdings Inc.. The outlook of these…
Everfuel engages SpareBank 1 for NOK 600 million private placement of new shares
HERNING: Everfuel A/S has engaged SpareBank 1 Markets AS to advise on and carry out a private placement of new shares in the Company raising gross proceeds to the Company of up to NOK 600 million. Everfuel is experiencing strong momentum when executing its strategy of making green hydrogen for zero emission mobility commercially available…
Self Storage Group announces NOK 250 million self-storage facility acquisition in Norway
OSLO: Self Storage Group (SSG) has entered into an agreement with Berg-Jacobsen Holding AS to acquire 100% of the shares in Adamstuen Garasjer AS. The transaction has a value of NOK 250 million and is expected to be closed during the first quarter of 2021. The acquisition is financed with a new bank loan from…
Gran Tierra sells 109 million PetroTal shares for $14.8 million
CALGARY: Gran Tierra Energy Inc. announced that Gran Tierra Resources Limited, a wholly owned subsidiary of Gran Tierra, has entered into arrangements with private purchasers providing for the sale by GTRL of an aggregate of 109 million common shares of PetroTal Corp. at a price of $0.13623 per purchased share, for an aggregate purchase price…
Lenta Plc announces changes in management, organizational structure
ST. PETERSBURG: Lenta Plc, one of the largest retail chains in Russia, announced changes to its senior management team and the organizational structure of the company, effective January 25th. To support the new strategy of the company, Lenta management has taken the decision to introduce organizational changes. Two new structural units have been established: the…
IG Group announces proposed acquisition of tastytrade Inc.
LONDON: The Board of IG Group Holdings announced the proposed acquisition of tastytrade Inc., a high growth US online brokerage and trading education platform with a leading position in US listed derivatives, primarily options and futures, and over 105,000 active accounts. June Felix, Chief Executive of IG, commented, “I am thrilled to welcome tastytrade to…
New e-commerce operation for Farfetch extends Clipper’s European footprint
LONDON: Clipper Logistics plc has entered into an agreement with Farfetch to provide pan-European e-fulfilment and returns management services from a new facility in Venray, Netherlands. Farfetch is the leading global platform for the luxury fashion industry, which sells products from over 1,300 luxury boutiques and brands from around the world on its marketplace. Clipper…
David Cocke appointed CFO at Tissue Regenix
LEEDS: Tissue Regenix, the regenerative medical devices company, has appointed David Cocke as Chief Financial Officer (CFO) and Director to the Board with immediate effect. David has over 29 years of experience in the medical device industry holding senior finance and operations positions. In 1997, David founded NuPak Medical, an ISO-certified contract manufacturer of sterile…
Vivid Sehgal appointed Chief Financial Officer of Tate & Lyle PLC
LONDON: Tate & Lyle PLC announced the appointment of Vivid Sehgal to the position of Chief Financial Officer with effect from 1 May 2021. Vivid will join Tate & Lyle as Chief Financial Officer Designate, and be appointed to the Board of Directors, from 1 March 2021. Over the following two months he will work…
LUMIBIRD confirms its interest in CILAS
LUMIBIRD has confirmed interest in CILAS if the company was to be sold by its shareholders. “Such an acquisition would be in line with its development strategy,” LUMIBIRD noted. CILAS and LUMIBIRD have highly complementary technology portfolios which together would constitute the European leader in laser technologies for the Defence market, and could thus be…
Quadient divests Graphics activities in Australia and New Zealand
PARIS: Quadient S.A announced the divestment of its Graphics activities in Australia and New Zealand to Smartech Business Systems Australia Pty, a technology solutions provider and a long-term partner working with Quadient in the Asia-Pacific region. As part of the transaction, Smartech Business Systems Australia Pty will become the distributor of Quadient’s Mail-Related Solutions in…