PARIS: TotalEnergies (Paris:TTE) has signed an agreement with Lewis Energy Group to acquire a 45% interest in dry gas producing assets owned and operated by Lewis Energy Group in the Eagle Ford basin in Texas. The acquisition of these low cost and long plateau assets further strengthens TotalEnergies’ integration across the gas value chain in…
abrdn Property Income Trust to sell abrdn Property Holdings to Golden Tree for £351 million
LONDON: abrdn Property Income Trust Limited (API) has entered into a significant agreement with GoldenTree Asset Management LP for the sale of its wholly-owned subsidiary, abrdn Property Holdings Limited (APH). This transaction includes the sale of 39 assets, representing API’s entire investment property portfolio, except for its interest in the land at Far Ralia. The…
International Public Partnerships Limited announces £30 million disposal of FHSP Investment
LONDON: International Public Partnerships Limited (INPP), a prominent infrastructure investment company, has successfully completed a partial disposal of its Family Housing for Service Personnel (FHSP) investment, generating approximately £30 million. The sale price aligns with the company’s valuation as of June 30, 2024. The FHSP investments, structured as mezzanine debt, are secured against seven operational…
Valereum Plc announces launch of VLRM Capital Management
LONDON: Valereum Plc (AQSE: VLRM) announced the launch of VLRM Capital Management Limited (VCM). VCM was incorporated in Gibraltar on the 4th of July 2024 as a 100% subsidiary of Valereum Plc and will act as director of VLRM Capital Management VSA Private Fund Limited. The fund was incorporated in Gibraltar on the 4th of…
Shellbay Investments has appointed Dr Philip Boigner as Chief Executive Officer
LONDON: Shellbay Investments Limited, providing portfolio management and investment services, has appointed Dr Philip Boigner as its interim Chief Executive Officer with immediate effect. The appointment of Dr Boigner follows a strategic review by Mr James Mellon, the non-executive chair of Agronomics, and indirectly the sole owner of Shellbay. Mr Anthony Chow, the former Chief…
Coleville Partners has acquired The Powderhorn Agency from Accretive Insurance Solutions
NEW YORK: Coleville Partners has acquired The Powderhorn Agency from Accretive Insurance Solutions and appointed Nick Alexander as President. Powderhorn, based in Brookfield, Connecticut, specializes in residential warranty and protection programs for oil tanks and septic systems, with over 25 years of experience. Nick Alexander, a seasoned executive in the home warranty industry, brings extensive…
Manfred Knof is leaving Commerzbank AG on September 30
LONDON: The acting CEO of Commerzbank AG, Manfred Knof, will leave the Bank on 30 September 2024. The 59‑year‑old and the Supervisory Board have agreed on this. On Tuesday, it had rearranged the responsibilities at the Group’s top management and appointed Bettina Orlopp (54) as the future CEO and thus as successor to Knof. At…
The Codan Group acquires US-based Kägwerks for an initial $33.6 million
SYDNEY: The Codan Group (ASX:CDA), through a wholly owned subsidiary Codan US Inc., has entered into a binding agreement to acquire 100% of US-based organisation SKT2 LLC dba Kägwerks. Completion is expected to occur in early December 2024. Kägwerks is a global leader in tactical operator-worn neworking communications technologies that enable connectivity and integrated secure…
LondonMetric buys urban logistics properties for £78mn from a FSTE 100 pension fund
LONDON: LondonMetric Property Plc announced the off market acquisition of six single let urban logistics properties for £78.0 million from a FSTE 100 pension fund. The purchase price reflects a blended NIY of 5.8% which rises to 6.9% over the next two years. The portfolio comprises six high quality properties totalling 526,000 sq ft, located…
OGDCL announces gas discovery in Sindh
LONDON: The Sawan South Joint Venture has announced a gas discovery in the Lower Gour B Reservoir Sand of the Akhiro-1 well, located in Khairpur district, Sindh Province in Pakistan. The joint venture includes Oil and Gas Development Company Limited (OGDCL) with a 20% working interest, United Energy Pakistan Limited (UEPL) as the operator with…
Nmbr, Canada’s payroll software provider, announces CAD $7.6 million in seed funding
TORONTO: Nmbr, Canada’s first dedicated embedded payroll software provider, announced CAD $7.6 million in seed funding to elevate the payroll ecosystem for businesses nationwide. Nmbr offers companies the ability to embed Canadian payroll within their product in days or weeks, as opposed to the years of development for payroll products of the past. In doing…
Wind-powered maritime transport company, VELA, raises €40 million
NEW YORK: VELA, a pioneering French company innovating in 100% wind-powered maritime transport, is proud to announce a significant funding round of €40 million ($43 million USD)—a round led by Crédit Mutuel Impact, 11th Hour Racing & BPI – French Public Investment Bank. “This major fundraising marks a key step in VELA’s development. We are…