LONDON: BTG Advisory, the boutique advisory arm of Begbies Traynor Group that provides commercial, strategic and partner-led advice to companies, investors, lenders and other stakeholders, announced the appointment of four new partners to its London Canary Wharf office, as the advisory firm delivers on its growth ambitions and expands its corporate finance offering to meet…
Ocean Outdoor Limited acquires Visual to strengthen European digital platform
LONDON: Ocean Outdoor Limited has acquired Visual Art, a Sweden based independent, pure-play digital, out-of-home media and tech group operating in three Nordic countries and Germany. The deal is structured as two simultaneous transactions in which Ocean acquires the out-of-home assets of Visual Art (Visual Art Media) for a total consideration of approximately €63 million…
Senvion enters agreement with Siemens Gamesa for sale of services and onshore assets in Europe
HAMBURG: Senvion Holding has entered into an exclusivity agreement with Siemens Gamesa to pursue negotiations for the sale of selected services and onshore assets in Europe. The agreement was approved unanimously by Senvion’s creditors’ committee. The approval of the insolvency plans by the creditors’ assembly on 11 September enabled this transaction. The parties are now…
Pakistan in deep political and financial crisis; Shabbar Zaidi to go soon
KARACHI: Pakistan has not been able to get out of the Financial Action Task Force (FATF) grey list; it is hardly avoiding the blacklisting, while on the internal front, Chairman Federal Board of Revenue (FBR) Syed Shabbar Zaidi is likely to step down from his current office by the end of this month, Customnews.pk reported…
BASF unfolds solutions for quality poultry feed in Pakistan
KARACHI: BASF presented a broad range of animal nutrition products and solutions to help the poultry industry innovate and produce the best quality feed, at the International Poultry Expo 2019 on Friday. Feeding more animals for the growing meat, milk and egg demand while saving the environment is the key challenge for the feed industry…
Pakistan’s automobile sales continue to decline
KARACHI: Pakistan’s overall car sales continued its downward trend and witnessed a decline of 41% YoY during August 2019, which is mainly attributable to higher auto prices post rupee devaluation and overall economic slowdown. Highest decline was witnessed in the sales of Honda Cars (Honda), which declined 67% YoY, followed by Indus Motors (Toyota) down…
Prosus lists on Euronext
AMSTERDAM: Euronext has congratulated Prosus (PRX), the global consumer internet group and one of the largest technology investors in the world, on its listing in Amsterdam. The listing of Prosus on Euronext Amsterdam further strengthens Euronext’s position as the leading European platform for global tech companies who seek access to the worldwide capital markets. Prosus…
NewRiver acquires Poole Retail Park in JV with BRAVO for £44.7 million
LONDON: NewRiver REIT announced that its joint venture with BRAVO Strategies III has exchanged contracts to acquire Poole Retail Park in Dorset, from LS Poole Retail Limited for total consideration of £44.7 million, reflecting a net initial yield of 8.0%. NewRiver will hold a 10% interest in the asset (NRR share: £4.5 million) and NewRiver…
Babcock selected as preferred bidder for UK naval frigate programme
LONDON: Babcock Team 31, led by Babcock Aerospace and Defence Company, has been selected by the UK Ministry of Defence as preferred bidder to deliver its newest fleet of warships. The Type 31 general-purpose frigate programme will provide the UK with a fleet of five ships, at an average production cost of £250 million per…
Telecom Egypt and Administrative Capital for Urban Development sign agreement
CAIRO: Telecom Egypt and the Administrative Capital for Urban Development (ACUD) signed an agreement to build and operate a telecom networks in the new administrative capital as well as to provide smart and security services networks. The agreement was signed by Major General Mohamed Abdel Latif, the General Manager of the ACUD, and Adel Hamed,…
Mitie Group secures IFM contract extension with Lloyds Banking Group
LONDON: Mitie Group has been awarded an extension to its contract to provide integrated facilities management (IFM) services to Lloyds Banking Group (LBG). Mitie has been delivering IFM services to LBG since 2012 under a transformational partnership and this agreement extends the partnership through to the end of 2024. The extended contract represents a step…
Hemogenyx scientific advisor receives Lasker Award
BROOKLYN: Hemogenyx Pharmaceuticals announced that H. Michael Shepard, a member of Henogenyx’s Scientific Advisory Board, has been awarded the 2019 Lasker-DeBakey Clinical Medical Research Award. The award is given annually for biological discoveries and clinical advances that improve human health. The Lasker Awards are America’s most prestigious medical research awards, the US Nobel. This year’s…