LONDON: Catena Group, a UK based venture capital company, has entered into a conditional investment agreement to acquire an initial 9.1 percent interest in the ordinary share capital of Insight Capital Partners Limited for £1.5 million payable in cash. The Company has also secured an option to increase its holding to 30.2 percent of Insight’s…
APQ Global acquires a US based corporation, Delphos International
LONDON: APQ Global has acquired the entire issued share capital of Delphos International, Ltd., a US based Corporation. In consideration to the shareholders of Delphos for the acquisition, the Company will pay an upfront amount of $1.5 million in cash. In addition to the Upfront Payment, APQ shall potentially make up to three earn-out payments…
EQTEC signs MOU for the development of first advanced gasification plant in Greece
LONDON: EQTEC plc, the technology solution company for advanced gasification in waste to energy projects, signed a Memorandum of Understanding (MOU), covering the key terms of the proposed cooperation for the engineering design and installation of the first advanced gasification plant in Greece. EQTEC has entered into the MOU with German EPC company, ewerGy GmbH…
Foxtons Group acquires London Stone for £2.2 million
LONDON: Foxtons Group, London’s leading estate agency, has announced the acquisition of the entire issued share capital of London Stone Properties Limited and its subsidiary company London Stone Property Sales Limited from its owner and founder Hilary Stone. London Stone is a well-established, high quality independent estate agent, primarily focussed on lettings and property management…
Pekka Lundmark appointed President and CEO of Nokia
ESPOO, FINLAND: Nokia’s Board of Directors has appointed Pekka Lundmark as President and Chief Executive Officer of Nokia. Lundmark is expected to start in his new role on September 1, 2020. Lundmark is currently President and CEO of Fortum, a leading energy company based in Espoo, Finland, where he consistently delivered robust total shareholder returns,…
Gamma Communications acquires Exactive Holdings Limited
LONDON: Gamma Communications, a leading technology-based provider of communications services to business markets in the UK and the Netherlands, is pleased to announce that it has acquired Exactive Holdings Limited Consideration for the acquisition consists of initial consideration of cash and Gamma shares paid on completion of £4.5 million with a deferred contingent consideration of…
Air Partner delivers integrated solution for UK Foreign & Commonwealth Office
LONDON: Air Partner plc, the global aviation services group, has once again worked alongside the Foreign and Commonwealth Office (FCO) to deliver a unique, fully-integrated and holistic solution for the evacuation and repatriation of UK and Irish nationals onboard the cruise ship quarantined off the coast of Yokohama in Japan. The project was complex, challenging…
Saudi Aramco’s proposed acquisition of 70% stake in SABIC cleared from European Commission
DHAHRAN: Saudi Aramco has announced that its proposed acquisition of a 70% majority stake in Saudi Basic Industries Corporation (SABIC) from the Public Investment Fund of Saudi Arabia (PIF) has received unconditional clearance from the European Commission. With this, the proposed acquisition has now received unconditional clearance in all jurisdictions in which pre-notification antitrust filings…
Kainos acquires Intuitive Technologies
LONDON: Kainos Group, a UK-based provider of digital services and platforms, has announced the acquisition of Intuitive Technologies LLC, a trusted advisor in the areas of financial consolidation, budgeting, planning, forecasting, reporting and accounting solutions. The terms of the acquisition have not been disclosed. Founded in 2010 and headquartered in Denver, Colorado, IntuitiveTEK has a…
Tata Motors’ sales decline 32% in February 2020
MUMBAI: Tata Motors Limited announced its sales in the domestic and international market, for the month of February 2020, which stood at 40,634 vehicles, compared to 60,151 units during February 2019. Girish Wagh, President, Commercial Vehicles Business Unit, Tata Motors Ltd. said, “Commercial vehicle domestic sales in February 2020 was 35% lower than last year….
Al Salam Bank and Bin Faqeeh ink property finance agreement
MANAMA, BAHRAIN: Al Salam Bank-Bahrain has signed a Memorandum of Understanding with Bin Faqeeh Real Estate Investment Company to offer its competitive property financing facility for buyers of the Alsidra development at Diyar Al Muharraq. The family-oriented gated community comprises of 452 luxury villas with two to five bedrooms set in lush green gardens with…
Sistema launches start-up fund Sistema SmartTech
MOSCOW: Sistema PJSFC, a Russian publicly-traded diversified holding company, announced the launch of Sistema SmartTech, a fund aimed at supporting early-stage and start-up companies from seed investment to Series A funding. The Fund’s target size is expected to be RUB 5 billion, with up to RUB 1.5bn investment from Sistema. In addition to Sistema, which…