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Flutter Entertainment Brazilian operator of Betnacional, NSX Group, for $350 million
LONDON: Flutter Entertainment (NYSE:FLUT), the world’s leading online sports betting and iGaming operator, today announced the acquisition of an initial 56% stake in NSX Group, a leading Brazilian operator of the Betnacional brand for cash consideration of approximately $350 million. The transaction fully aligns with Flutter’s strategy to invest in leadership positions in international markets, securing a…
National Grid to sell its Electricity System Operator (ESO) for £630 million
LONDON: National Grid plc has reached agreement with HM Government on the terms of the sale of National Grid’s Electricity System Operator (ESO) for an enterprise value of £630 million. The final cash consideration will be subject to customary closing adjustments (including for timing differences). The transaction is an important milestone for the creation of the…
GNEXT appoints Air Link as premium partner to expand Apple products availability in Pakistan
KARACHI: GNEXT, the Apple Authorized Distributor for Pakistan, has announced the appointment of Air Link Communication Limited as its Premium Partner. This strategic collaboration aims to significantly enhance the availability of Apple products across the country, providing customers with greater access to the latest innovations through a structured retail channel. Shahid Khan, CEO of GNEXT…
Brooks Macdonald to sell Brooks Macdonald Asset Management to Canaccord for £50.85 million
LONDON: Brooks Macdonald Group plc has entered into a binding agreement with Canaccord Genuity Wealth (International) Holdings Limited to sell its wholly owned subsidiary, Brooks Macdonald Asset Management (International) Limited and its subsidiaries (BMI), for a total consideration of up to £50.85 million, including an initial consideration of £28 million payable in cash. Completion is expected by…
LendInvest signs £1.5 billion funding agreement with JP Morgan
LONDON: LendInvest plc (AIM: LINV), the UK’s leading platform for mortgages, announces that it has extended its existing Separate Account with JP Morgan by an additional £500 million to £1.5 billion. This funding will be used to support the growth of LendInvest’s Mortgages proposition. As a result, LendInvest now has more than £4.55 billion of…
Apple unveils iPhone 16, Huawei follows with trifold Mate XT launch
Apple on Monday unveiled its long-awaited, artificial intelligence-boosted iPhone 16 and promised improvements in its Siri personal assistant as it rolled out new software, beginning in test mode next month. “The next generation of iPhone has been designed for Apple Intelligence from the ground up. It marks the beginning of an exciting new era,” Chief…
abrdn plc appoints Jason Windsor as Group CEO
LONDON: Jason Windsor, previously Group Chief Financial Officer and currently Interim Group Chief Executive Officer, has today been appointed as Group Chief Executive Officer (CEO) of abrdn plc. On 24 May 2024, abrdn announced the commencement of the process of moving to fresh leadership, following the strategic repositioning of the company to a specialist asset…
Food fermentation startup Formo secures $61 million in Series B funding
BERLIN: German food fermentation startup Formo has secured $61 million in Series B funding to scale its operations. The round includes existing investors, such as Foodlabs, EQT Ventures, Lowercarbon Capital, Happiness Capital, Elevat3 Capital and Grazia Capital, and welcomes new investors, such as Sazaby League, Seven Ventures, Woodline Partners, The Nature Conservancy as well as…
AngloGold Ashanti offers to acquire Centamin Plc in a $2.5 billion deal
LONDON: AngloGold Ashanti has agreed the terms of a recommended acquisition of Centamin Plc, an established gold producer, whose flagship Tier 1 asset is the Sukari gold mine, which is Egypt’s largest and first modern gold mine, as well as one of the world’s largest producing mines. Since production began in 2009, Sukari has produced over 5.9…
Renold plc has acquired MAC Chain Company for $31.4mn
LONDON: Renold plc, a leading international supplier of industrial chains and related power transmission products, has acquired the trade and net assets of MAC Chain Company Ltd (U.S.) and the entire issued share capital of MAC Chain Company Limited (Canada), for a total cash consideration of US$31.4 million. MAC Chain is being acquired on a…