SINGAPORE: Transurban Group announced that it opened NorthConnex on 31 October 2020. The 9-kilometre twin NorthConnex tunnels connect the M1 Pacific Motorway and the Hills M2 Motorway in Sydney’s north suburbs, providing a critical missing link in the Sydney orbital network and national transport route. NorthConnex will improve travel times and productivity for both commuters…
2020 presents a grim picture for press freedom in Pakistan: PPF
KARACHI: The media in Pakistan continues to work under an environment of fear and significant constraints to press freedom. The year 2020, so far, has seen numerous attempts to silence journalists and media personnel. The use of criminal complaints, abductions and online harassment have created an environment where the media is operating under high pressure…
Sembcorp announces divestment completion of water business in Panama
SINGAPORE: Sembcorp Industries (Sembcorp) through its wholly-owned UK subsidiary Sembcorp Holdings Ltd, signed and completed a sale and purchase agreement to divest 100% of its stake in Sembcorp Investments Ltd (SIL), which owns 100% of Aguas de Panama S.A. (APSA), to an affiliate of Seven Seas Water Corporation (SSW). The gross consideration for the sale…
RDI REIT completes disposal of its UK retail parks portfolio for £156.9m
LONDON: RDI REIT Plc, the income focused UK Real Estate Investment Trust (UK-REIT), confirms that it has completed on the disposal of its UK retail parks portfolio of six assets. The headline price of £156.9 million reflects a 3.0 per ent discount to the last reported 29 February 2020 values and a topped-up net initial…
Nucleus Financial Group acquires of certain assets of OpenWealth
LONDON: Nucleus Financial Group has entered into a binding agreement to acquire the UK business and assets of Genpact Wealth Management UK Limited (which operates under the trading name OpenWealth) as they pertain to Nucleus for a total cash consideration of £1.5 million. Completion is expected to take place by the end of the year….
Coro Energy acquires interest in ion Ventures Holdings Ltd
LONDON, UK: Coro Energy plc has acquired a 20.3% shareholding in ion Ventures Holdings Limited, a South East Asian and UK focused developer of clean energy projects, including renewables and battery storage for cash consideration of £500,000, a company announcement said. Alongside this initial investment, the Company has been granted a priority right of first…
Mail.ru Group sells MAPS.ME for RUB 1.557 billion
LONDON: Mail.ru Group Limited, one of the largest Internet companies in the Russian-speaking Internet market, announced the completion of the sale of 100% of MAPS.ME, a mobile maps and navigation service based on OpenStreetMap data, to Daegu Limited (member of Parity.com Group) for RUB 1.557 billion. According to a corporate announcement, Mail.ru Group acquired MAPS.ME…
Ocado acquires Kindred Systems and Haddington Dynamics to enhance its robotic manipulation capabilities
LONDON: Ocado Group plc announced proposed acquisition of Kindred Systems Inc. for consideration of approximately US$262 million; and Haddington Dynamics Inc. for approximately US$25 million, a company announcement said. Tim Steiner, CEO of Ocado, commented: “We consider the opportunities for robotic manipulation solutions to be significant, both for Ocado Smart Platform clients and across the…
Financial Conduct Authority to further support mortgage borrowers impacted by coronavirus
LONDON: Government announced further measures to control the spread of coronavirus (covid-19). “As we adapted the support available to mortgage borrowers, we said we will keep it under review. As a result, on Monday 2 November, we will propose updates to our guidance to support mortgage borrowers,” an official statement noted. It is important that…
Marlowe Plc acquires Black & Banton Occupational and Physical Health Limited
LONDON: Marlowe plc, the specialist services group focused on developing companies which assure safety and regulatory compliance, has acquired Black & Banton Occupational and Physical Health Limited for an initial consideration of £1.1 million, a financial news release noted. Black & Banton, established in 2001, is headquartered in Gateshead, Tyne and Wear, and provides occupational…
Polymetal International signs first Green Loan under newly adopted green financing framework
LONDON: Polymetal International has agreed the first US$ 125 million Green Loan in the Russian metals and mining industry with Societe Generale to finance investments in transition to a sustainable and low-emissions economy under the Green Financing Framework. “We want our business model to be sustainable and we are actively investing in energy efficient technologies…
Gresham House sells 50MW grid level battery storage project for £32.5 million
LONDON: Gresham House has sold a further battery storage project to Gresham House Energy Storage Fund plc on 30 October 2020. The c.50MW battery-only project located near Thurcroft, to the east of Rotherham was sold for a total enterprise value of approximately £32.5 million (plus up to £0.75 million of deferred contingent consideration) and is…