LONDON: Polar Capital Holdings has reached agreement to acquire from Los Angeles based asset manager First Pacific Advisors its International Value and World Value equity team led by Pierre Py and Greg Herr. Polar Capital and the Managers share common philosophies, being specialist, investment-led active fund managers. Polar Capital offers the team a platform from…
Gareth Samples appointed CEO Designate of The Property Franchise Group
LONDON: The Property Franchise Group, one of the UK’s largest property franchises, announced the appointment of Gareth Samples as Chief Executive Officer Designate, further to the announcement on 31 July 2019 that Ian Wilson intends to retire in 2020. It is proposed that Gareth will join the board of TPFG as Chief Executive Officer in…
Al Salam Bank reports 14% growth in net profit to BD 21.1 million in 2019
MANAMA, BAHRAIN: Al Salam Bank-Bahrain reported a net profit attributable to shareholders of BD 4 million in the fourth quarter of 2019 compared to BD 5 million in the fourth quarter of 2018, a variance of 20% and a corresponding earnings per share at 1.8 fils compared with 2.3 fils per share for the same…
Domino’s Pizza Group to dispose of the Norwegian business
LONDON: Domino’s Pizza Group (DPG) announced, conditional on shareholder approval, it has agreed to sell its entire shareholding in DP Norway (Domino’s Norway) to Pizza Holding AS and EYJA Fjarfestingafelag III EHF, the existing minority shareholders in Domino’s Norway. DPG will sell its 71% interest in Domino’s Norway to the Minority Shareholders for consideration comprised…
NRC Group targets NOK 10 billion of revenue at 7% EBITA for 2024
OSLO: NRC Group, the largest rail infrastructure entrepreneur in the Nordic region, targets NOK 10 billion of revenue at 7% EBITA for 2024 through capitalizing on leading Nordic position and strong markets through profitable organic growth, utilizing Nordic capabilities to expand into complementary services. NRC presented the Group’s strategic development, ambitions and outlook after completion…
Dubai Investments Park attracts investments in excess of AED 42 billion over two decades
DUBAI: Dubai Investments Park (DIP), the integrated commercial/industrial and residential community in the Middle East, has unveiled that the master-planned complex has attracted investments in excess of AED 42 billion over two decades, signifying the emergence of Dubai Investment Park as a successful business model, facilitating a conducive environment. The company has confirmed a sustained…
Deyaar Development posts net profit of AED 71.5 million in 2019
DUBAI: Dubai based property developer and real estate service provider, Deyaar Development announced its financial results, wherein the company reported revenues of AED 603.7 million for the year ended 31 December 2019 compared to AED 643.7 million in the same period of 2018. Net profit for 2019 was reported as AED 71.5 million. During its…
Pakistan’s overall automobile sales decline 47% as inflation remains high
KARACHI: Pakistan Automotive Manufacturers Association (PAMA) published monthly automobile sales data for January 2020 wherein passenger car (PC) sales plummeted 48%YoY to 10,095 units whereas on a MoM basis, PC volumes remained flat (+1%). Seasonal factors such as buying at the start of new year in order to improve re-sale value provided much needed support…
DAMAC Properties reports booked sales of AED 3.1bn in 2009
DUBAI: DAMAC Properties Dubai announced preliminary financial results for the year ended December 2019, reporting booked sales of AED 3.1 billion and unit deliveries of 4,700 units in full year 2019. DAMAC focused throughout 2019 on deliveries and execution of projects in the construction pipeline. The year marked the first deliveries in the master development…
Landscape Acquisition Holdings complete $860mn acquisition of AP WIP Investments Holdings
TORTOLA: Landscape Acquisition Holdings Limited has completed its acquisition of AP WIP Investments Holdings from Associated Partners for approximately US$860 million consisting of cash, shares and assumption of debt. AP Wireless is one of the largest international aggregators of rental streams underlying wireless sites through the acquisition of wireless telecom real property interests and contractual…
Coats announced completion of Pharr High Performance Yarns acquisition
LONDON: Coats Group, a leading industrial thread manufacturer, has completed the acquisition of the business and assets of Pharr High Performance Yarns, following receipt of the required regulatory approvals and other completion procedures, the transaction was completed on 10 February 2020. Pharr HP is a market leading manufacturer of high-performance engineered yarns based in McAdenville,…
Cranswick acquires Buckle family’s pig farming business
LONDON: UK’s leading and innovative supplier of fresh and added value food products, Cranswick plc, has acquired the Buckle family’s pig farming and rearing operations as well as the family’s 50% share of the White Rose Farms Limited pig production joint venture set up by Cranswick and the Buckle family in 2018. The enlarged pig…