SYDNEY: Australia and New Zealand Banking Group (ANZ) announced it had successfully completed the sale of its OnePath Pensions & Investments (OnePath P&I) business to IOOF Holdings Limited (IOOF). The final sale price of $850 million included $25 million that ANZ had already received for the sale of its Aligned Dealer Groups in October 2018….
Rob Longley appointed Managing Director of Ardiden Limited
PERTH: Ardiden Limited has appointed experienced geologist and current Chief Executive Officer Rob Longley as Managing Director. This appointment is consistent with the company’s strategic focus on maximising value from the Company’s gold assets in the Tier 1 Mining jurisdiction of Ontario, Canada. Rob was appointed Chief Executive Officer of Ardiden on 1 May 2019…
Tritax EuroBox acquires logistics real estate in Central Poland for €51.8 million
LONDON: The Board of Tritax EuroBox, which invests in Continental European logistics real estate assets, has acquired two recently developed prime logistics properties and development land, positioned in the core logistics location of Strykow, near Lodz in Central Poland for €51.8 million (Phase I) with the potential to invest a further €15.0 million developing the…
Knights Group acquires Croftons Solicitors for £2.8 million
LONDON: Knights Group Holdings plc has acquired the entire issued share capital of Simon Leighton Limited, Arthur Chapman Limited and Bob Agnew Limited being the corporate shareholders of Croftons Solicitors LLP for £2.8 million. This acquisition builds on the Company’s presence in Manchester, in line with the Group’s strategy to accelerate its organic growth through…
Fuel technology company Velocys appoints Worley as engineering partner
LONDON, UK: Velocys plc, the sustainable fuels technology company, announced the appointment of Worley to manage the delivery of its fully integrated technology package. Worley, a world-class engineering contractor, is the partner in the development of pre-feasibility, feasibility and FEED packages for all projects in the Velocys portfolio. This allows Velocys to leverage synergies across…
SIG Plc completes sale of Air Handling Division to France Air Management
LONDON: SIG plc, a leading European supplier of specialist building materials, has completed the sale of its Air Handling Division to France Air Management for an enterprise value of EUR 222.7 million on a cash free, debt free basis. The net proceeds received by SIG were EUR 180.9 million, exclusive of the repayment of debt…
Rinocloud enters AI development partnership with Acumen Software
LONDON: Integumen’s subsidiary Rinocloud has entered into a commercial and AI development partnership with Acumen Software (Pty) Ltd of South Africa. The cooperative alliance has been established to create a combined offering of Acumen’s integrated mobile asset and management software platform with RinoDrive’s data analytics, data refining capabilities and RAWTestTM AI real-time water monitoring service….
Marlowe acquires Eurosafe for £2.5 million
LONDON: Marlowe plc has acquired Eurosafe UK Group Limited for an enterprise value of £2.5 million. Marlowe is a UK leader in specialist services which assure safety and regulatory compliance, whilst managing risk for businesses across the country. Formed in 1996, Eurosafe provides a range of safety consultancy services encompassing asbestos consultancy, construction design management…
ADM Energy makes strategic alliance with Trafigura to invest in African energy sector
LONDON: ADM Energy Plc has entered into a non-binding memorandum of understanding (MOU) with Trafigura Pte Ltd, a market leader in the global commodities industry whose core business is the physical trading of oil and petroleum products and metals and minerals, to develop investment opportunities in the African energy sector. Under the terms of the…
Mahindra sells 52,546 vehicles, 23,116 tractors during January 2020
MUMBAI, India: Mahindra & Mahindra Ltd. (M&M) has reported that its auto sector sales stood at 52,546 vehicles during January 2020, while Mahindra’s farm equipment sector sold 23,116 units in India during January 2020. In the passenger vehicles segment (which includes UVs, cars and vans), Mahindra sold 19,797 vehicles in January 2020, compared to 23,872…
AM Best affirms credit ratings of Swiss Re’s subsidiary Elips Life Insurance Company
OLDWICK: Global rating agency, AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “a+” of Elips Life Insurance Company headquartered in Schaumburg, IL, USA. The outlook of these ratings is stable. elipsLife is an indirect subsidiary of Swiss Re Ltd (Swiss Re). The…
AM Best upgrades credit ratings of iptiQ Life S.A
LONDON: Insurance sector rating agency AM Best has upgraded the Financial Strength Rating (FSR) to A+ (Superior) from A (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “aa” from “a+” of Luxembourg based iptiQ Life S.A., the ultimate parent of which is Swiss Re Ltd. The outlook of these ratings is stable. The…