EL PASO: Helen of Troy Limited, a global consumer products company, has completed acquisition of Drybar Products LLC, for approximately $255 million in cash, subject to certain customary closing adjustments. The purchase price implies a pre-synergy multiple of less than 13x estimated calendar year 2019 adjusted EBITDA. Drybar is a fast-growing, innovative, trendsetting prestige hair…
Pauline Blight-Johnston appointed CEO and MD of Genworth Mortgage Insurance Australia
SYDNEY: Genworth Mortgage Insurance Australia Limited announced that Ms. Pauline Blight-Johnston has been appointed Chief Executive Officer and Managing Director; her appointment will take effect on Monday, 2 March 2020. Ms. Blight-Johnston takes over from Mr. Duncan West who was appointed acting CEO effective 1 January 2020. Mr. West will continue to serve as an…
Bisalloy signs Q&T steel products supply agreement with Leong Jin
SYDNEY: Bisalloy Steel Pty Ltd has announced the signing of a supply agreement with Leong Jin (Changzhou) Special Steel Co. Ltd through which a broader range of premium wear and structural Q&T steel products will be supplied exclusively to the Australian market to service growing customer demands and enter new market segments. Bisalloy has undertaken…
Kate Munnings appointed Group CEO of Virtus Health Limited
NEW SOUTH WALES: The Board of Virtus Health Limited announced that Ms Kate Munnings will commence as Group Chief Executive Officer of Virtus Health Limited on 4 May, 2020. Sonia Petering, Chair of Virtus Health Limited said, “Kate brings a depth of professional experience, most recently as Chief Operating Officer with Ramsay Health Care Limited’s…
Mobile wallet Huawei Pay launched in Pakistan
ISLAMABAD: Huawei, in cooperation with UnionPay International and National Bank of Pakistan, has launched its mobile wallet service Huawei Pay in Pakistan, making it the 4th market where Huawei Pay has been made available, following China, Russia and Hong Kong, a statement said on Thursday. “Today, Huawei Pay has come to Pakistan marking an important…
Gerald Grimes to join Together Financial Services as Group CEO
LONDON: Together Financial Services Limited, one of the UK’s leading specialist mortgage and secured loan providers, announced that Gerald Grimes is to join the business as Group CEO Designate and be appointed to the Group Board as an Executive Director, effective from the 6th April 2020. Gerald Grimes has over 30 years of financial services…
HgCapital Trust to invest £28.9 million in Intelerad Medical Systems
MONTREAL: Hg, the specialist private equity investor focused on software and service businesses, has finalized an agreement for an investment in Intelerad Medical Systems, a leading global provider of medical imaging software and enterprise workflow solutions. HgCapital Trust plc will invest approximately £28.9 million in Intelerad, with other institutional clients of Hg investing alongside the…
Stephen Hubbard appointed non-executive chairman of Workspace
LONDON: Workspace Group, provider of flexible work spaces in dynamic London locations, has appointed Stephen Hubbard as Non-Executive Chairman of Workspace. Stephen Hubbard will assume the office at the conclusion of the 2020 Annual General Meeting on 9 July 2020. Stephen Hubbard is currently a Non-Executive Director of the Company and a member of the…
Vodafone and Sunrise Communications form strategic partnership in Switzerland
LONDON: Vodafone Group and Sunrise Communications Group have announced a new partnership agreement in Switzerland, which began on 1 January 2020. This strategic partnership will allow Sunrise’s Enterprise customers to benefit from a range of Vodafone Business services, including mobile connectivity, roaming and central procurement. Over time, the companies plan to expand their relationship to…
Financial strength rating of Florida Family Insurance Group downgraded with stable outlook
OLDWICK: Global credit rating agency, AM Best has downgraded the Financial Strength Rating (FSR) of Florida Family Insurance Company (FFIC) and its subsidiary, Florida Family Home Insurance Company (FFHIC), while the outlook of the FSR has been revised to stable from negative while the outlook for the Long-Term ICR remains negative. Both companies are domiciled…
First Abu Dhabi Bank intends to acquire Bank Audi Egypt
ABU DHABI: First Abu Dhabi Bank (FAB) has entered into exclusive discussions with Bank Audi to acquire its fully owned subsidiary in Egypt, Bank Audi Egypt. A working group has been formed to assess the potential acquisition. At the current time, no valuations have been announced and there is no certainty that these discussions will…
DIB acquires Noor Bank structured through a share swap
DUBAI: Dubai Islamic Bank (DIB) has announced the completion of the acquisition of Noor Bank in a transaction structured through a share swap. As part of this agreement, DIB has issued 651,159,198 new shares to take its issued share capital to 7,240,744,377 shares. In line with the acquisition process, Noor operations will be completely integrated…