LONDON, UK: Hammerson plc has announced the appointment of Rita-Rose Gagné as Chief Executive Officer (CEO) and Executive Director. Ms Gagné was most recently President of Growth Markets at the global real estate company Ivanhoé Cambridge where she had responsibility for $7.6bn of real estate assets across Asia Pacific and Latin America. She joined Ivanhoé…
Smith+Nephew to acquire Integra LifeSciences’ Extremity Orthopaedics for $240 million
LONDON: Smith+Nephew, the global medical technology business, has agreed to acquire the Extremity Orthopaedics business of Integra LifeSciences Holdings Corporation for $240 million, a news release said. This acquisition will significantly strengthen Smith+Nephew’s extremities business by adding a combination of a focused sales channel, complementary shoulder replacement and upper and lower extremities portfolio, and an…
Atlas Mara’s subsidiary ABC Holdings selling stake in African Banking Corporation Mozambique
LONDON: Atlas Mara Limited’s subsidiary ABC Holdings Corporation Limited (ABCH) has entered into definitive agreements with Access Bank Plc for the sale of ABCH’s holdings in African Banking Corporation Mozambique (BancABC Mozambique), a news release said. The transaction will include upfront cash consideration payable at closing equal to approximately 0.8 times book value as of…
SLANG Worldwide acquires Colorado-licensed cannabis cultivator, Pleasant Valley Ranch
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….