WELLINGTON: Downer EDI Limited has entered into an agreement to sell 70% of its Laundries business to an entity established by Australian private equity firm, Adamantem Capital, a news release said. Under the agreement, Downer will sell a 70% interest in Laundries and receive total proceeds of approximately $155 million on a cash and debt…
Westpac sells general insurance business to Allianz for$725 million
SYDNEY: Westpac Group announced it will sell Westpac General Insurance Limited and Westpac General Insurance Services Limited to Allianz and enter into an exclusive 20-year agreement for the distribution of general insurance products to Westpac’s customers. The sale price of $725 million represents a multiple of 1.3x FY20 gross written premium and is estimated to…
Bombardier and Alstom get all approvals to complete Bombardier Transportation sale to Alstom
MONTRÉAL: Bombardier and Alstom announced today that all necessary regulatory approvals required to complete the sale of Bombardier Transportation to Alstom have been received. Bombardier and Alstom now expect the transaction to close on January 29, 2021. With over 52,000 employees across two business segments, Bombardier is a global leader in the transportation industry, creating…
fuboTV acquires Balto Sports as first step into online sports wagering market
NEW YORK: fuboTV Inc. has acquired Balto Sports, marking the company’s first move into the online sports wagering market, a news release said. Terms of the deal were not disclosed. Balto Sports is a Y Combinator company that develops tools for users to organize and play fantasy sports games. fuboTV intends to leverage its own…
JetBlue announces offering of common stock
NEW YORK: JetBlue Airways Corporation has announced a proposed underwritten offering of 35 million shares of its common stock. JetBlue intends to grant the underwriters a 30-day option to purchase up to 5,250,000 additional shares of common stock. JetBlue intends to use the net proceeds from the offering for general corporate purposes. Morgan Stanley, Goldman…
PG&E plans to sell its Pleasant Creek natural gas storage field located in Yolo County
SAN FRANCISCO: Pacific Gas and Electric Company (PG&E) announced plans to sell its Pleasant Creek natural gas storage field, located in Yolo County, Calif. The Pleasant Creek field is the smallest of four underground natural gas storage fields owned wholly or partly by PG&E. With a natural gas inventory capacity of 2.3 billion cubic feet…
Assurant closes its acquisition of HYLA Mobile
NEW YORK: Assurant, a leading global provider of lifestyle and housing solutions, announced the closing of its acquisition of HYLA Mobile, a leading provider of smartphone software, trade-in and upgrade services. The acquisition further strengthens Assurant’s trade-in and upgrade programs and better positions the company for the upcoming 5G smartphone upgrade cycle. “We’re excited to…
Innovate Edmonton names Catherine Warren as new Chief Executive Officer
EDMONTON: Innovate Edmonton’s Board of Directors has recruited media-tech, investment and entrepreneurial powerhouse Catherine Warren as its new CEO, a news release said. Warren’s comprehensive understanding of digital and sustainable economies, long standing service to major Canadian innovation funds and leadership in top startup ecosystems will be powerful assets for Innovate Edmonton and its partners….
Kongsberg executes share buyback programme
OSLO: Kongsberg ASA has on 1 December 2020 put in place a non-discretionary agreement with a third party for the repurchase of Kongsberg shares for up to NOK 100 million in the open market. Under this agreement, the third party will manage the programme and make its own trading decisions independently of, and uninfluenced by,…
Comcast launching more than 30 WiFi-connected “lift zones” in Washington
SEATTLE: Comcast Corporation announced plans to equip more than 30 different locations in Washington with WiFi-connected “Lift Zones” over the next few months. Working with its network of nonprofit partners, Comcast is providing robust WiFi coverage at safe spaces in King, Snohomish and Spokane Counties that are expected to help thousands of low-income students get…
Sunnova Energy launches primary and secondary offering of shares of common stock
HOUSTON: Sunnova Energy International Inc. has launched an underwritten public offering of 7.0 million shares of Sunnova’s common stock, par value $0.0001 per share, which consists of 3.5 million shares of common stock offered by Sunnova and 3.5 million shares of common stock offered by a fund affiliated with Newlight Partners. Sunnova intends to grant…
EQTEC plc
EQTEC plc is a world leading gasification technology partner with proven proprietary patented technology for cost effective waste-to-value applications. EQTEC designs and supplies advanced gasification solutions that have a higher efficiency product offering and are modular and scalable from 1MW to 25MW. EQTEC’s solutions are independently proven to process over 50 different types of feedstock,…