CALGARY: Valeura Energy Inc. has executed a Share Purchase Agreement to sell its producing shallow conventional gas business to TBNG Limited for a cash consideration of US$15.5 million, plus royalty payments of up to an additional US$2.5 million. Proceeds from the deal will add to Valeura’s strong net cash position, which as of September 30,…
Nick Slape appointed Chief Executive Officer of The Co-operative Bank
LONDON: The Co-Operative Bank announced the appointment of Nick Slape, the Bank’s Chief Financial Officer to the role of Chief Executive Officer, with effect from 31 October 2020, subject to regulatory approval. He succeeds Andrew Bester, who, as previously announced, has decided to step down following the successful delivery of key elements of the Bank’s…
Sandvik Group agrees to acquire US based CGTech
STOCKHOLM: Sandvik Group has signed an agreement to acquire US based CGTech, a global market leader in software for numerical control (NC/CNC) simulation, verification and optimization. The product offering includes VERICUT, a machining simulation and optimization software which is CAM, machine tool manufacturer and cutting tool neutral and works stand alone or in conjunction with…
Adevinta launches EUR 1.06 billion of Senior Secured Notes offering
OSLO: Adevinta ASA has launched an offering of approximately EUR 1.06 billion aggregate principal amount of senior secured notes, consisting of notes due 2025 and 2027, a news release said. Adevinta previously announced its plans to syndicate a new senior secured Term Loan B facility consisting of a EUR900 million EUR-denominated tranche and a $500…
Jannicke Trumpy Granquist appointed new President and CEO of Kommunalbanken AS
OSLO: The Board of Directors of Kommunalbanken AS (KBN) has appointed Jannicke Trumpy Granquist as new President and CEO. The Board has assessed several good candidates in the process and considers it an advantage to have found an internal successor. Granquist knows the company well from her time as CFO and acting CEO. KBN is…
Saga Tankers appoints Bjørn Simonsen as Chief Executive Officer
OSLO, NORWAY: The Board of Directors of Saga Tankers ASA announced the strategy within renewable energy investments and has appointed Bjørn Simonsen as Chief Executive Officer (CEO). Following the renewable energy strategy, the company will divest non-core assets and change name to Saga Pure ASA. “Saga sees significant opportunities within renewable energy investments. We have…
OFG and EMGS enter into cooperation agreement to promote marine CSEM technology
OSLO: Ocean Floor Geophysics Inc (OFG) and Electromagnetic Geoservices ASA (EMGS) have announced the signing of a cooperation agreement under which the two companies agree to work together on various projects to promote the use of marine CSEM technology. The agreement places specific emphasis on exploiting the obvious synergies between the state-of-the-art towed-streamer CSEM system…
IDEX Biometrics receives production order from Zwipe
OSLO: IDEX Biometrics ASA has received an order for 300,000 units from its partner Zwipe, a leading biometric fintech company. The order, of 300,000 units, of IDEX’s TrustedBio (TM) fingerprint sensors, will support the roll-out of Zwipe’s Pay ONE platform to a growing list of smart card manufacturers and card issuers in Europe, the Americas…
Tarsus Pharmaceuticals prices $88 million IPO on Nasdaq Global Market
LONDON: RTW Venture Fund Limited’s portfolio company Tarsus Pharmaceuticals Inc. has priced an $88 million initial public offering (IPO) and admission to trade on Nasdaq Global Market under the ticker “TARS”. Tarsus’ IPO was significantly upsized and oversubscribed, raising $88 million, offering 5.5 million shares at $16.00 per share. On the first day of trading,…
Abcam announces offering and application to list on Nasdaq Global Market
LONDON: Abcam plc announced today the commencement of a registered offering of 8,945,218 American Depositary Shares (ADSs). Each ADS offered represents one ordinary share of Abcam. The ADSs are being offered in a registered public offering in the United States. All ADSs to be sold in the Offering will be sold by Abcam. In addition,…
Oman’s Raysut Cement acquires 75% of LafargeHolcim’s terminal at Thilafushi Island
MUSCAT, OMAN: Oman’s largest cement manufacturer, Raysut Cement Company (RCC), said it has closed the deal of acquiring 75 percent of LafargeHolcim’s cement terminal at Thilafushi Island in Maldives, and a new joint venture – Raysut Maldives Cement Pvt. Ltd. – has been formed. The new entity with State Trading Organization (STO) of Maldives owning…
Altice USA enhances offer to acquire Cogeco in order to own Atlantic Broadband
NEW YORK: Altice USA Inc. has presented a revised and enhanced offer to Cogeco Inc. (CGO) and Cogeco Communications Inc. (CCA) to acquire 100% of the issued and outstanding shares of Cogeco. Altice USA has also revised its arrangement with the largest long-term shareholder of Cogeco, Rogers Communications Inc. to sell all the Canadian assets…