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…
Hill & Smith has acquired Whitlow Electric Service Company for $30.2mn
LONDON: Hill & Smith PLC today announced the acquisition of Whitlow Electric Service Company. The Group has completed the acquisition of the business and assets of Whitlow from its shareholder, Bruce Whitlow, who will be staying with the business. The cash consideration is $30.2m (c.£23m), on a debt and cash free basis. Whitlow Electric Service, located…
Aldon Oils agrees to acquire Calima Energy Inc.
SYDNEY: Calima Energy Limited (ASX:CE1) has entered into a binding definitive agreement with Aldon Oils Ltd. to sell 100% of its ownership in its wholly owned Canadian subsidiary, Calima Energy Inc., the owner of thecompany’s paradise field assets for a cash consideration of A$1.3 million. The proceeds are intended to be used to fund the…
Convergint has acquired Esscoe, a provider of fire and life safety systems
Convergint, a global leader in service-based systems integration, today announced that it has acquired Esscoe, a premier provider of mission-critical security and fire and life safety systems in the Chicago and Midwest regions. Esscoe is a local market leader, offering exceptional design and engineering capabilities and fully integrated, tech-enabled security solutions. The acquisition enables Convergint…
HGGC to sell AMI, a global leader in firmware solutions
HGGC, a values-driven middle-market private equity firm with over $6.9 billion of cumulative capital commitments, today announced that it has signed a definitive agreement to sell AMI (or “the Company”) to investment firm THL Partners. Terms of the private transaction were not disclosed. The transaction is expected to close in Q4 2024, pending regulatory approvals. AMI…