OSLO: Mintra has once again been named as one of the top learning technology providers of the year by the Learning & Performance Institute (LPI). The LPI’s Top 15 Highest-Performing Learning Technology Providers 2020 report identifies organisations with a strong track record in quality of service and user experiences. The report is compiled using data…
Hg agrees the sale of Eucon to VHV Group
MÜNSTER: Hg, Europe’s leading software investor, has agreed the sale of Eucon Group to VHV Group, a leading German insurance group, a news release said. The terms of the transaction were not disclosed. The transaction is subject to customary anti-trust approvals and closing is expected later this year. Eucon is a leading provider of best-in-class…
Premier Foods to sell stake in Hovis Holdings Limited to Endless LLP
LONDON: Premier Foods plc has agreed to the disposal of its interest in Hovis Holdings Limited to Endless LLP, a news release said. Alongside its joint venture partner, The Gores Group LLC, the Group has held a 49% minority interest in Hovis since April 2014. Under Gores and Premier Foods’ ownership, Hovis has undergone major…
Ofgem investigates Scottish Power’s compliance with smart meter targets
LONDON: Ofgem has launched an investigation into whether Scottish Power breached rules around obligations to install smart meters for domestic consumers in 2019. Under the Government’s smart metering implementation programme, suppliers are required by their licences to take all reasonable steps to rollout smart meters to all homes and small businesses by 30 June 2021….
Gen II Fund Services get significant investment from global investors to fuel continued long-term expansion
NEW YORK: Gen II Fund Services LLC (Gen II), a leading independent private equity fund administrator, announced that it has secured a new strategic investment. General Atlantic (GA), a leading global growth equity firm, and Hg, a leading global software investor, together will lead the investment. IHS Markit, a world leader in critical information, analytics…
STM Group signs £5.5m credit facility with RBSI to fund M&A growth
LONDON: STM Group Plc, the cross-border financial services provider, has this week signed a credit facility with Royal Bank of Scotland (International) Limited (RBSI), to support its M&A growth strategy. The credit facility is for £5.5m, is to be used purely for acquisitions, and is expected to be drawn down in line with acquisition milestones…
easyJet announces sale and leaseback of a further eleven aircraft
LONDON: easyJet Plc announced the sale and leaseback of a further eleven aircraft with two counterparties. The transactions generate total cash proceeds of $169.5 million (approximately £130.7m). Ten A320 family aircraft were sold to ACS Aero 2 Beta Limited. The cash sales proceeds were $124.5m (approximately £96.0m), and the aircraft will be leased back for…
AVEVA announces £2.835 billion rights issue to partly fund the acquisition of OSIsoft LLC
LONDON: AVEVA Group plc announced a fully committed and underwritten rights issue to raise gross proceeds of approximately £2.835 billion to partly fund the acquisition of OSIsoft, LLC, a global leader in real-time industrial data software and services. The Rights Issue will result in the issue of 125.739 million new ordinary shares of the Company….
Outlooks for Singapore Reinsurance Corporation revised to negative
OLDWICK: Global rating agency, AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “a-” of Singapore Reinsurance Corporation Limited. The ratings reflect Singapore Re’s balance sheet strength, which AM Best categorises as strong, as well as…
Hexagon Purus to supply storage system for the first hydrogen commuter train in the U.S.
OSLO: Hexagon Purus has signed a contract with Stadler Rail to develop cylinder storage system for the first hydrogen commuter train in the U.S., a news release said. Hexagon Purus’ storage system is due to be delivered in the fourth quarter of 2021. The contract includes the development and homologation of a new cylinder and…
Cloudberry enters into partnership for sale of offshore wind development project in Sweden
OSLO: Cloudberry Clean Energy AS and Downing LLP have entered into an exclusivity agreement for the construction and ownership of a 100 MW nearshore, shallow water wind farm in Lake Vänern in southern Sweden. Since the end of June, Cloudberry has doubled its project backlog to above 1.6 terrawatt hours per year. After confirming a…
Schneider honored with 2020 SmartWay Excellence Award within trucking industry
GREEN BAY: Schneider has been honored again for its continuous achievements and commitment towards environmental leadership within the trucking industry. This year’s win marks the 11th time that Schneider has been recognized by the United States Environmental Protection Agency (EPA) with the SmartWay Excellence Award. Schneider has been an award recipient each year the EPA…