LONDON: Parkmead, a company focusing on gas, oil, and renewable energy projects, has agreed to sell its subsidiary, Parkmead (E&P) Ltd, to Serica Energy (UK) Ltd. The subsidiary holds Parkmead’s UK offshore oil licenses and some gas licenses in the Netherlands. However, Parkmead will keep its Dutch gas fields and UK wind farm. Parkmead will…
Guardian Metal Resources signs agreement to purchase Pilot Mountain Water Rights
LONDON: Guardian Metal Resources plc has announced a major update on its Pilot Mountain Project in Nevada, USA. The company has purchased water rights, a key step in supporting U.S. tungsten production, which is vital for national security. A definitive agreement has been reached between Pilot Metals Inc., Guardian Metal’s subsidiary, and Belmont Resources Inc….
Resolution Life announces acquisition by Nippon Life
LONDON: Resolution Life, a global life insurance group, announces that Nippon Life Insurance Company will acquire 100% of the company for $8.2 billion, valuing it at $10.6 billion. After the acquisition, Resolution Life’s business in the US, UK, Bermuda, and Singapore will become a subsidiary of Nippon Life. Meanwhile, Resolution Life’s Australasian business will merge…
GS Fintech UAB will acquire Cake Pte Ltd and Cake DeFi UAB
LONDON: GSTechnologies Limited (LSE: GST) has announced that its subsidiary, GS Fintech UAB, will acquire Cake Pte Ltd and Cake DeFi UAB, known together as CAKE, for an undisclosed cash amount. CAKE operates a prominent cryptocurrency investment platform called Bake, especially popular in Germany, Austria, and Switzerland. This acquisition aligns with GST’s goal to expand…
Cordiant Capital Inc. to acquire HydrogenOne Capital LLP, the investment adviser to HydrogenOne Capital Growth
LONDON: HydrogenOne Capital LLP, the investment adviser to HydrogenOne Capital Growth plc, has entered into a conditional agreement to sell its business and assets to Cordiant Capital Inc., a specialist global infrastructure and real assets manager. This transaction marks a significant move towards expanding HydrogenOne’s market access and capabilities, while maintaining the core team and…
MHP offers to acquire UVESA Group of Spain
LONDON: MHP SE (LSE: MHPC), a leading international food group with major production facilities in Ukraine and Southeastern Europe, has submitted a binding offer to acquire UVESA Group, a market leader in the Spanish food industry with well-established poultry and pork operations. The transaction constitutes a tender offer addressed to all the current shareholders of…
Circle and Binance announce strategic partnership
Today, at Abu Dhabi Finance Week, Circle Internet Group Inc. and Binance announced a new partnership to boost the use of USDC, a popular digital dollar. This partnership aims to enhance the global digital assets and financial services ecosystem. Key Points: 1. Expanding USDC Usage: – Binance will make USDC more accessible across its…
National Australia Bank to sell remaining 20 per cent stake in MLC Life Insurance to Nippon Life
SYDNEY: National Australia Bank Limited (NAB) has entered into an agreement to sell its remaining 20 per cent stake in MLC Life Insurance to Nippon Life Insurance Company for $500 million. The proposed sale is part of a broader strategic transaction announced today by Nippon Life, where it will acquire Resolution Life Group. As part…
FirstGroup has acquired RATP Dev Transit London for an enterprise value of £90 million
LONDON: FirstGroup plc has announced its acquisition of RATP Dev Transit London Limited and its subsidiaries from RATP Développement SA for an enterprise value of £90 million. This strategic move marks FirstGroup’s entry into the competitive London bus market with a strong position. RATP London, one of the leading bus operators in the capital, holds…
Apax IX agrees to sell stake in AssuredPartners
LONDON: Apax IX Fund, in which Apax Global Alpha Limited (“AGA”) is a limited partner, has announced the full sale of its minority co-control stake in AssuredPartners, a leading mid-market property, casualty and employee benefits insurance brokerage, to Arthur J. Gallagher & Co. This transaction is expected to deliver a gross MOIC of 2.5×1 and…
Ashtead Group proposes shift to US primary listing
LONDON: Ashtead Group plc has announced plans to shift its primary listing to the United States, while retaining its UK listing in the International Companies segment. The Board believes this move aligns with the Group’s strategy and serves the best interests of its stakeholders. The decision comes as Ashtead increasingly operates as a US-focused business,…
Treasury Wine Estates acquires 75% stake in Ningxia Stone & Moon Winery for A$ 27.5 million
SYDNEY: Treasury Wine Estates Limited (ASX:TWE) has announced a strategic move to expand its presence in China by acquiring a 75% stake in Ningxia Stone & Moon Winery Co. Ltd (“Stone and Moon”) for RMB 130 million (approximately A$27.5 million). Stone & Moon is located in the renowned wine-producing region of Ningxia in north-western China…