MANAMA, BAHRAIN: Ithmaar Holding has announced plans to voluntarily delist from Boursa Kuwait, while maintaining its listing on the Bahrain Bourse and Dubai Financial Market (DFM). Ithmaar is Bahrain-based holding company that is licenced and regulated as a Category-1 Investment Firm by the Central Bank of Bahrain (CBB) and listed on the Bahrain Bourse, Dubai…
Inspired Energy completes acquisition of 40pc stake in Ignite Energy
LONDON: Inspired Energy, a leading energy consultant to UK and Irish corporates, has completed the acquisition of an initial 40 percent of the issued share capital of Ignite Energy. Inspired has paid net £5.0 million, calculated on a cash free debt free basis, for the strategic investment. Inspired also has an exclusive option, until 31…
Trackwise signs collaboration agreement with GKN Aerospace
LONDON: Trackwise Designs Plc, a leading provider of specialist products using printed circuit technology, has signed a Collaboration Agreement with GKN Aerospace, (GKN), the world’s leading multi-technology tier 1 aerospace supplier, for the industrialisation of GKN Aerospace Type 8 Ice Protection System. The collaboration agreement will see GKN Aerospace and Trackwise build upon existing development…
Highlands to supply hemp-derived CBD to Cellulac plc
LONDON: Highlands Natural Resources has entered into a two-year agreement to provide hemp-derived cannabidiol (CBD), grown under quality-controlled conditions to Cellulac plc for conversion to medical grade CBD. The agreement with Cellulac will provide for the conversion of the CBD, supplied by Highlands, into medical-grade CBD and submission of the finished products to Integumen’s Labskin…
Majestic Wine to sell its retail and commercial business for £100mn
LONDON: Majestic Wine PLC has entered into an agreement to sell Majestic Wine Warehouses Limited and Les Celliers de Calais, which together comprise the Majestic Retail and Commercial businesses to CF Bacchus Holdings Limited, a vehicle controlled by funds managed by Fortress Investment Group LLC, for a total consideration of £95 million. A separate sale…
Matthew Farnum-Schneider appointed CEO of Ultimate Sports
LONDON: Ultimate Sports Group has announced the appointment of Matthew Farnum-Schneider as Chief Executive Officer (CEO) with effect from 1 August 2019. Matthew Farnum-Schneider is an experienced senior executive, having most recently been a Managing Director and Senior Adviser to the CEO at Credit Suisse between 2015-2019, prior to which he was Managing Director at…
appScatter announces Andromo partnership
LONDON: appScatter Group, the app management and data intelligence platform, acknowledges that Airpush, Inc. a technology company specialising in app monetisation, has announced a partnership with Andromo B.V., the mobile app building platform for Android. appScatter announced its intention to acquire Airpush on 19 April 2019. Andromo is a premium app building platform where users…
Aozora reports net earnings of 11.8 billion yen
TOKYO: Aozora Bank Ltd., a leading Japanese commercial bank, announced its financial results for the first three months of FY 2019. In the first three months of FY2019, Aozora reported consolidated net revenue of 23.3 billion yen, business profit of 11 billion yen, and profit attributable to owners of parent of 11.8 billion yen, representing…
Georgia Capital acquires 80% stake in Green School LLC
LONDON: Georgia Capital PLC has signed a share purchase agreement to acquire an 80% equity interest in Green School LLC. The transaction values Green School at 5.8x EV/EBITDA 2020 based on initial consideration payable by Georgia Capital upon transaction completion. An additional earn-out may apply if the existing school campus annual earnings reach GEL 2…
ADES secures SAR 300 million long term loan facility in KSA
DUBAI, UAE: ADES International Holding PLC, a leading oil & gas drilling and production services provider in the Middle East and North Africa (MENA), has secured a SAR 300 million Long Term Loan Facility from National Commercial Bank (NCB), a leading Saudi-based financial institution. The Facility has been secured against ADES 13 & 14 (the…
Uniphar announces completion of Durbin acquisition
DUBLIN: Uniphar plc has announced the successful completion of the acquisition of Durbin plc and Durbin Inc, a specialist provider of pharmaceuticals with offices in the UK and the US supplying over 160 countries. Durbin will be integrated into Uniphar’s Product Access division, providing the Group with the opportunity to become a leading player in…
GSK and Pfizer form new world-leading consumer healthcare joint venture
LONDON: GlaxoSmithKline (GSK) has completed its transaction with Pfizer to combine their consumer healthcare businesses into a world-leading Joint Venture (JV). GSK has a controlling equity interest of 68% and Pfizer has an equity interest of 32% in the Joint Venture. Joint Venture brings together two highly complementary portfolios of trusted consumer health brands, including…