SYDNEY: Lendlease Corporation has entered into an agreement with Acciona Infrastructure Asia Pacific to sell its Engineering business for a purchase price of $180 million. The transaction, which is expected to complete in the first half of calendar year 2020, is subject to conditions including client and third party consents and regulatory approvals including the…
Venture Life Group has acquired PharmaSource for €6.5 million
LONDON, UK: Venture Life Group has acquired PharmaSource BV, a Netherlands based development and distribution business, for an initial consideration of €5.23 million and deferred contingent consideration of up to €1.27 million. Venture Life agreed to acquire the entire issued share capital of PharmaSource BV for an initial consideration of €5.23 million, and deferred contingent…
Focusrite acquires Martin Audio for £39.2 million
LONDON: Focusrite plc has announced the acquisition of Martin Audio and associated companies, the designer and manufacturer of high-performance loudspeaker systems for the touring and installation markets. The total consideration to be paid is £39.2 million for the business, which has approximately £4.0 million of cash. This will be funded through a combination of existing…
Vodafone selling Vodafone Malta for €250mn
LONDON: Vodafone Group has agreed to sell 100% of Vodafone Malta (VFML) to Monaco Telecom SAM for an enterprise value of €250 million, a news release said on Thursday. Monaco Telecom has agreed to acquire VFML for a cash consideration equivalent to an Enterprise Value of €250 million, implying FY19 multiples of 7.8x EBITDA and…
Vietnam seeks improved trade, investment cooperation with Pakistan
KARACHI: Vietnamese government is keen to improve trade and investment cooperation with Pakistan, Deputy Director General of Vietnam’s Ministry of Industry & Trade Do Quoc Hung said at a business-to-business meeting at Karachi Chamber of Commerce and Industry (KCCI). He said that Vietnam’s global trade turnover was more than US$500 billion this year, of which…
Phoenix Spree announces acquisition of Brandenburg Apartment Complex
LONDON, UK: Phoenix Spree Deutschland Limited has acquired an apartment complex in Brandenburg for €24.2 million. The acquisition will initially be financed by existing cash resources and assumes outstanding bank debt of €16.4 million. It is intended that this will be refinanced in the new year. The property is a former barracks, comprising 259 residential…
Safestay acquires hostels in Warsaw, Prague and Bratislava for €3.7mn
LONDON, UK: Safestay Plc, the owner and operator of an international brand of contemporary hostels, has acquired acquisition of three hostels in Warsaw, Prague and Bratislava from Dreamgroup Management E.C.P. Ltd for a total consideration of €3.7 million. It has increased Safestay’s network to more than 5,000 beds across 21 hostels, all centrally located in…
Marshall Motor acquires business and assets from Jardine Motor Group
LONDON, UK: Marshall Motor Holdings has acquired the business and assets of a portfolio of Volkswagen and ŠKODA passenger and commercial vehicle franchises from Jardine Motor Group UK Limited for up to £22.3 million cash including £13.0 million of inventory. The businesses comprise six Volkswagen passenger car franchises in Aylesbury, Harlow, Letchworth, Loughton, Milton Keynes…
Versarien to participate in Airbus led Graphene Flagship project
LONDON, UK: Versarien Plc has been selected to participate in the Graphene Flagship project led by Airbus. Versarien is an advanced engineering materials group. Leveraging proprietary technology, the Group creates innovative engineering solutions for its clients in a diverse range of industries. Funded by the European Commission, the Graphene Flagship facilitates cooperation between its partners,…
NextEnergy awarded LSE’s Green Economy Accreditation
LONDON: NextEnergy Solar Fund has been awarded the London Stock Exchange’s new Green Economy Mark, which recognises companies, and investment funds that derive over 50% of their annual revenues from products and services that contribute to the Green Economy. The London Stock Exchange launched the Green Economy accreditation on 11 October 2019 to support equity…
Pearson to sell its remaining stake in Penguin Random House for $675mn
LONDON, UK: In line with its simplification strategy, Pearson Plc has signed an agreement to sell its remaining 25% stake in Penguin Random House to partner Bertelsmann SE & Co KGaA for a consideration of approximately $675 million. This transaction values the Penguin Random House venture at an enterprise value of $3.67 billion, compared with…
SICO becomes issue execution advisor to proposed acquisition of BISB by National Bank of Bahrain
MANAMA, BAHRAIN: SICO BSC has been recently appointed as issue execution advisor, receiving agent, and allotment agent in the proposed voluntary acquisition of Bahrain Islamic Bank (BISB) by National Bank of Bahrain (NBB). SICO BSC is a leading regional asset manager, broker, market maker and investment bank (licensed as a wholesale bank by the CBB)….