BEIJING: Tesla Inc has started selling China-made Model Y sport-utility vehicles (SUV) and will deliver them to customers this month, a news release said. China, which offers hefty subsidies for electric vehicles as it seeks to cut down on pollution from petrol or diesel cars, is key to Tesla’s global strategy. It is expanding its…
Concentric AB has acquired Allied Enterprises LLC
NEW YORK: Concentric AB has acquired Allied Enterprises LLC, a US manufacturer of transmission products for the construction, agricultural, material handling and stationary power markets, a news release said. Allied Enterprises has a production facility in Muncie, Indiana, USA and has been manufacturing transmission products for over 30 years. Allied Enterprises has long established trading…
Intraco makes investment into Chongqing Liangjiang Sino-Singapore Fintech Rmb Equity Investment Fund
SINGAPORE: The Board of Directors of Intraco Limited has entered into a limited partnership agreement in relation to the investment of RMB 5 million (approximately S$1 million) into the Chongqing Liangjiang Sino-Singapore Fintech RMB Equity Investment Fund to be made in two tranches over the first three years from the date of the execution of…
Black Bear Sports Group Acquires 23rd Ice Arena
HARRISBURG: An affiliate of Black Bear Sports Group Inc. has acquired Twin Ponds East Arena in Harrisburg PA. The Arena features two NHL ice sheets and one smaller training sheet, a café, pro shop and athletic turf designed for baseball training. The Arena is home to many figure skaters and youth hockey players in the…
Sona Nanotech receives CE Mark approval for its Rapid COVID-19 Antigen Test
HALIFAX: Sona Nanotech Inc. has been granted CE Mark status for its rapid, COVID-19 antigen test, a news release said. The CE Mark declares the conformity of the Sona test with EU regulations and allows Sona to commercialize its test throughout Europe and potentially other territories in which the CE Mark is recognized. The Company…
PSO launches Euro 5 standard diesel in Pakistan
KARACHI: Pakistan State Oil (PSO) continues to lead the fuel revolution in Pakistan by becoming the first Oil Marketing Company (OMC) to upgrade Pakistan’s diesel fuel standard from Euro 2 to Euro 5. The Company has recently launched its Euro 5 standard high speed diesel under the brand name “PSO Hi-Cetane Diesel Euro 5”. The…
Pandion Energy acquires license interests from Wintershall DEA
OSLO: Pandion Energy AS has entered into an agreement with Wintershall DEA Norge AS (Wintershall DEA) to acquire a 2.5 percent interest in PL 820 S and a 15 percent interest in PL 617. Through this transaction, Pandion Energy increases its interest in PL 820 S to 12.5 percent. In March, Pandion Energy announced the…
Sanoma completes the EUR 465 million acquisition of Santillana Spain
HELSINKI: Sanoma Corp has completed the acquisition of Santillana Spain, a leading Spanish provider of K12 learning materials, from Promotora de Informaciones S.A. (Grupo Prisa). The acquisition was announced on 19 October 2020. Cash and debt free purchase price of the acquired business was EUR 465 million, including approx. EUR 50 million of net debt…
Pertama Digital to launch MyPay coin deposit feature
KUALA LUMPUR: Pertama Digital Berhad, an investment holding company listed on Bursa Malaysia’s Main Market, has announced a collaboration between its portfolio company DAPAT Vista (M) Sdn Bhd and Hektar Asset Management Sdn Bhd to launch DAPAT’s MyPay Coin Deposit feature. DAPAT is a homegrown company specialising in mobile technology and digitalisation of government services….
Alpha Bank enters into a long term bancassurance partnership with Generali
ATHENS, GREECE: Alpha Bank S.A. has agreed to enter into a new exclusive distribution agreement with Assicurazioni Generali (Generali) for the sale of non-life and health insurance products through its distribution channels. The agreement will have an initial term of twenty years and will focus on an ambitious digital and growth strategy. The new partnership…
Franchise Brands announces share purchase programme
LONDON: Franchise Brands, a multi-brand franchise business, announced that for the next six-month period from 1 January 2021 to 30 June 2021, the Company will continue its discretionary programme to buy ordinary shares of 0.5p each in the Company up to an aggregate value of £200,000. The Company will use its employee benefit trust (the…
US Solar Fund to acquire up to 50% of 200MW Mount Signal 2
LONDON: US Solar Fund Plc has executed binding agreements to acquire up to a 50% interest in a 200 MWDC operating solar plant located in the Imperial Valley of Southern California, Mount Signal 2 (MS2, the Project), for a total price of between $44 million and $46 million. The Transaction is structured in two tranches….