TORONTO: SLANG Worldwide Inc., has entered into an agreement to acquire Colorado-licensed cannabis cultivator Pleasant Valley Ranch, a news release said. Pursuant to the Agreement, SLANG will acquire Pleasant Valley for consideration comprised of a non-material amount of cash and common shares of the company. SLANG anticipates that ownership of a cultivation operation will provide…
NexTech acquires AirShow app
VANCOUVER: NexTech AR Solutions has acquired the AirShow app, valuable AI code plus a team of four AR experienced developers from TRICK 3D, the deal is closing October 1st, a news release said. This acquisition was structured as an asset purchase agreement with a $300,000 USD price tag, 50% being in cash and 50% in…
Modern Meat evaluating a list of potential acquisition targets in United States
VANCOUVER: Modern Meat Inc., a Canadian plant-based meat producer, intends to expand into the US market and is evaluating a list of potential acquisition targets, a news release said. Since listing on the Canadian Stock Exchange (CSE) the Company has been targeting strategic M&A opportunities, as well as internal growth expansion projects. Modern Meat will…
Altia and Arcus to merge to form a leading wine and spirits brand house
OSLO: The Boards of Directors of Altia Plc and Arcus ASA have entered into a combination agreement to form a leading Nordic wine and spirits brand house. The new combined company will be named Anora Group Plc, a news release said. Anora will offer a unique portfolio of iconic local, regional, and global brands. The…
Veidekke to build velodrome and commercial building in Asker
OSLO: Veidekke has been commissioned by the Norwegian Cycling Federation’s centre of expertise and Nordr to build a velodrome and a commercial building with lower secondary school, kindergarten, offices and retail spaces in Asker municipality. Both are turnkey contracts worth respectively NOK 158 million (velodrome) and 189 million (commercial building), excluding VAT. The project is…
Keppel Corp reaffirms Vision 2030, plans to unlock value from S$3-5 billion of assets in 3 years
SINGAPORE: Keppel Corporation Limited has identified assets with a total carrying value of approximately S$17.5 billion based on the Group’s balance sheet as at 30 June 2020 that can potentially be monetised over time and channeled towards growth initiatives. Dr Lee Boon Yang, Chairman of Keppel Corporation said, “The Board and Management are committed to…
U.S. property and casualty insurers manage challenging market dynamics amidst Covid19
HOUSTON: Credit rating activity for the U.S. property and casualty insurance industry in the first half of 2020 was mixed, with upgrades modestly outnumbering downgrades, according to a new AM Best report. A new Best’s Special Report, titled, “Mid-Year Rating Changes Mixed as U.S. Property/Casualty Insurers Manage Challenging Market Dynamics,” states that the percentage of…
U.S. life and health insurance sector rating upgrades outnumber downgrades in first-half of 2020
HOUSTON: The U.S. life and health insurance industry saw more credit rating upgrades than downgrades in first-half 2020, driven primarily by improved levels of risk-adjusted capitalization. However, according to a new AM Best special report, negative rating actions could increase in the second half of the year as the COVID-19 pandemic negatively impacts companies’ sales,…
Rex appoints ABG Sundal Collier to review financing options for development in Oman
SINGAPORE: Rex International Holding Limited has appointed Nordic independent investment bank ABG Sundal Collier ASA as financial adviser and intermediary to review non-dilutive financing options for Rex’s 86.37 percent subsidiary Masirah Oil Ltd, a news release said. ABG Sundal Collier will advise, among others, on the structure, timing and organisation of a possible bond financing….
Tritech develops an AI-based data analytics system
SINGAPORE: Tritech Group Limited, a leading engineering and water-related and environmental group, has developed a Big Data and Artificial Intelligence (AI) platform for both engineering and water-related and environmental business, i.e. ADAS, an AI-based data analytics system . Globalization, demographic shifts, data explosion, technologies disruption, climate change, redefined jobs and complexity are the trends shaping …
Julius Baer places $350 million AT1 securities in Asia, Europe
ZURICH: Julius Baer Group has successfully placed perpetual non-cumulative Additional Tier 1 (AT1) securities in a $350 million transaction with private banks and institutional investors in Asia and Europe, a news release said. The transaction will help to optimise Julius Baer Group’s capital structure and flexibility. The securities carry a coupon of 4.875%, payable semi-annually,…
Novatti launches Digital Payments Accelerator, an extension of its Visa Issuing program
MELBOURNE: Digital banking services and payments company, Novatti Group Limited, has launched the Digital Payments Accelerator. The Digital Payments Accelerator extends Novatti’s Visa Issuing white label programs to meet the needs of: ▪Startups and innovators to bring their innovative fintech and financial products to market quicker, and to test their products in a controlled way…