LONDON: Regional REIT, the regional real estate investment specialist focused on building a diverse portfolio of income producing regional UK core and core plus office and industrial property assets, has acquired a portfolio of six office assets for a total consideration of £25.9 million. The portfolio comprises six offices located in Birmingham, Bristol, Cardiff, Chester,…
Asiamet signs MoU with China Nonferrous Metals for the BKM Copper project
LONDON: Asiamet Resources Limited has signed a Memorandum of Understanding (MoU) with China Nonferrous Metal Industry’s Foreign Engineering and Construction Co., Ltd (China NFC), a subsidiary of China Nonferrous Metal Mining (Group) Co., Ltd. for value engineering and Engineering, Procurement and Construction Management (EPCM) Services for the BKM Copper project located in Central Kalimantan, Indonesia….
Singtel Group prices US$750 million 10-year notes at 2.375%
SINGAPORE: Singtel announced that its wholly-owned subsidiary, Singtel Group Treasury Pte. Ltd. (SGT), has priced US$750 million of 10-year notes guaranteed by Singtel. The issue of notes attracted strong demand from a wide range of high quality investors. The order book closed after receiving interest of approximately US$2.7 billion and was 3.6 times oversubscribed by…
Sumitomo Life Insurance acquires AIARU Small Amount & Short Term Insurance Co
TOKYO: Sumitomo Life Insurance Company has acquired AIARU Small Amount & Short Term Insurance Co., as a subsidiary through a stock purchase on August 21, 2019, Customnews.pk reported. AIARU is a small-amount and short-term insurance company that flexibly develops and sells products in response to specific market needs. AIARU has developed a variety of unique…
Blackbird and Google Cloud collaborate at IBC 2019
SAN FRANCISCO: Blackbird plc, the developer and seller of the market-leading cloud video platform Blackbird, will participate in the Google Cloud Partner Pavilion at IBC 2019, a press release noted. Blackbird will demonstrate its cloud video platform to visitors at the Google Cloud Partner Pavilion during the IBC conference and exhibition in Amsterdam – one…
Qatar Petroleum signs 5-year condensate feedstock sale to ExxonMobil
SINGAPORE: Qatar Petroleum for the Sale of Petroleum Products Company (QPSPP), has recently concluded a 5-year sale agreement with ExxonMobil Trading Asia Pacific Pte. Ltd. (EXTAP), a division of ExxonMobil Asia Pacific Pte. Ltd. based in Singapore. Under the agreement, QPSPP will supply ExxonMobil’s Singapore Integrated Manufacturing Complex with a total of 6 million barrels…
Pakistan’s overall automobile sales decline 37% in July 2019
KARACHI: Pakistan Automotive Manufacturers Association (PAMA) published monthly automobile sales data for July 2019, wherein overall auto sales for the month of July 2019 nosedived 37% YoY and 13% MoM to 18,848 units. Passenger car sales in the country plummeted 42%YoY/26%MoM to 10,968 units during the month. Trucks sales declined 30%YoY, however, on a MoM…
Georgia Capital acquires Alaverdi Ltd
LONDON: Georgia Capital PLC announced that the Group’s wine business has acquired a 100% equity interest in Alaverdi Ltd. Alaverdi owns 244 hectares of vineyards in the Kakheti region, the vast majority of which grow Georgia’s flagship red wine grapes, Saperavi. The acquisition of Alaverdi also provides the Wine Business with access to 135 hectares…
IMI to acquire specialty valve manufacturer PBM for $85mn
LONDON: IMI plc has announced the proposed acquisition of PBM Inc., for an enterprise value of $85 million. PBM will become part of IMI’s Critical Engineering division. The proposed acquisition of PBM is fully aligned with IMI’s strategy and represents an important opportunity to broaden IMI Critical Engineering’s offering into attractive, adjacent markets. Closing is…
Gresham House acquires 5MW grid level battery storage project
LONDON: Gresham House Energy Storage Fund has completed its investment in a symmetrical 5MW battery-only project based in Wolverhampton for a total enterprise value of approximately £3.5 million. The project is one of the exclusivity portfolio projects identified by the Company in its initial public offering (IPO) prospectus published in October 2018. The project was…
Wood reaches agreement to sell nuclear business for £250 million
LONDON: John Wood Group PLC announced the sale of its nuclear business to a subsidiary of Jacobs for a cash consideration of £250 million representing a multiple of approximately 12.4x based on 2018 EBITDA of £20.2 million. Closing is conditional upon, among other things, obtaining anti-trust clearance from the Competition and Markets Authority (CMA) and…
Asiamet announces successful placing of $2.1 million
LONDON: Asiamet Resources Limited has successfully placed a total of 50 million new common shares of par value US$0.01 each at a price of 3.5 pence per share raising gross proceeds of approximately US$2.124 million. Proceeds of the placing will be utilised to fund a number of the value enhancement initiatives outlined in the recently…