LONDON: Royal London announced the sale of its platform business, Ascentric, to M&G plc. The sale follows the completion of Ascentric’s re-platforming in 2019 and the conclusion of a comprehensive strategic review led by Royal London Chief Executive, Barry O’Dwyer. Ascentric is a leading digital wrap and wealth management platform for advisers with assets under…
Zoetic sells DT Ultravert interest and Kansas Nitrogen assets to Path
LONDON: Zoetic International plc, the vertically integrated CBD and natural resources company, has entered into an Asset Purchase Agreement (APA) with Path Investments plc to sell its 75% interest in the patented proprietary technology, DT Ultravert (DTU), which involves a method for hydrocarbon well stimulation and protection. In addition, Path has agreed with Zoetic to…
Diversified Gas & Oil completes $110mn acquisition of Carbon Energy Corp
LONDON: Diversified Gas & Oil PLC (DGO) has completed the purchase of certain upstream and midstream assets from Carbon Energy Corporation. Concurrent with the acquisition, DGO also closed on a 10-year amortising $160 million gross senior secured term loan underwritten and funded by Munich Re Reserve Risk Financing, Inc. that includes a 6.5% fixed coupon…
ECSC Group launches Nebula Cloud cyber security service
LONDON: ECSC Group plc, a leading provider of cyber security services, announced the launch of its new Nebula Cloud cyber security breach detection service. This service takes the existing 24/7/365 managed service, which utilises the proven ECSC proprietary Kepler Artificial Intelligence (AI) technology and introduces new cloud-based service options designed for wider resellers and a…
Savannah Resources signs added value services agreement with EIT InnoEnergy
LONDON: Savannah Resources has entered into an ‘Added Value Services Agreement’ with EIT InnoEnergy, as part of the Business Investment Platform (BIP) launched last September to accelerate the development of a European battery industry. EIT InnoEnergy is the innovation engine for sustainable energy across Europe and is responsible for the EBA250 initiative, the industrial development…
Supermarket Income REIT, British Airways Pension Trustees Limited form JV to acquire Sainsbury’s supermarkets
LONDON: UK supermarket real estate investor, Supermarket Income REIT has announced the formation of a 50:50 joint venture (JV) with British Airways Pension Trustees Limited (BAPTL) to acquire from British Land Plc a 25.5% stake in one of the UK’s largest portfolios of supermarket properties for £102 million. Supermarket Income REIT’s contribution to the JV…
Walker Greenbank is restarting manufacturing on a phased basis
LONDON: Walker Greenbank PLC, the luxury interior furnishings group, is restarting manufacturing on a phased, demand-led basis following the Covid-19 related shutdown of its two UK factories. Staff began to return last week to Standfast & Barracks, the Company’s fabric printing factory in Lancaster, and this week staff will return to the Company’s wallpaper printing…
John Lewis announces shops reopening plan
LONDON: John Lewis, operator of two of Britain’s best-loved retail brands – John Lewis & Partners and Waitrose & Partners, will begin to reopen its shops for customers as part of a gradual approach from Monday 15 June, starting with its Poole and Kingston department stores, followed by 11 others on Thursday 18 June. Depending…
Unit corporation files Chapter 11; enters into restructuring support agreement with creditors
TULSA: Unit Corporation, a Tulsa-based, publicly held energy company, has filed voluntary petitions under Chapter 11 of the United States Bankruptcy Code to effectuate a pre-negotiated Chapter 11 plan of reorganization that will reduce the Company’s funded debt obligations by more than $650 million and right-size the Company’s balance sheet for go-forward operations. The Company…
Fintech startup Airfox acquired by Brazilian retail giant via Varejo
BOSTON: Boston-based fintech startup Airfox is joining Via Varejo, the largest retailer in Brazil serving 60 million customers through popular nationwide retail chains Casas Bahia and PontoFrio. Publicly held Via Varejo is acquiring Airfox for an undisclosed amount. Airfox will continue to serve as a fintech innovation hub out of its current Boston-based headquarters, leveraging…
3M settles two lawsuits in Florida
ST. PAUL: 3M Company has settled two lawsuits connected with the company’s global efforts to combat fraud, price gouging and counterfeiting. 3M Company and King Law Center, Chartered have resolved the legal action 3M initiated in federal district court in Orlando, Florida. The litigation has been amicably resolved through a mutually beneficial agreement, and the…
Archer secures multi-well P&A contract for modular rig Archer Topaz
HAMILTON BERMUDA: Archer Limited announced its formal contract award for provision of modular drilling unit and associated services by TAQA. “We are delighted with the award of this contract which secures the rig work until late 2023.” said Dag Skindlo, Chief Executive Officer of Archer. Archer’s rig has been contracted by TAQA to perform a…