PARIS, FRANCE: EssilorLuxottica, a global leader in the optical industry, and VF Corporation (NYSE: VFC), a global leader in branded lifestyle apparel, footwear and accessories, have entered into a definitive agreement for EssilorLuxottica to acquire the Supreme brand from VF for $1.5 billion in cash. Francesco Milleri, Chairman and Chief Executive Officer and Paul du…
BW Energy to acquire shares in Reconnaissance Energy Africa
OSLO, NORWAY: BW Energy has signed a Letter Agreement (LA) with Reconnaissance Energy Africa Ltd to acquire approximately 16.8 million common shares and 16.8 million warrants for a total consideration of USD 16 million in ReconAfrica’s announced equity raise. By participating in the equity raise, BW Energy will also receive a 20% non-operating interest in…
Smiths Group sells 4.9% shares in ICU Medical Inc
LONDON: Smiths Group plc has sold 1.2m shares in ICU Medical Inc, representing approximately 4.9% of ICU Medical’s issued share capital. Smiths will receive net proceeds of c.$152m (£117m) from the sale which will be used for general corporate purposes. Smiths continues to hold 0.47m shares in ICU Medical representing approximately 1.92% of ICU Medical’s…
Rio Tinto appoints Katie Jackson as Chief Executive of copper business
LONDON: Rio Tinto has appointed Katie Jackson to lead its Copper business, succeeding Bold Baatar, who as previously announced, will become Chief Commercial Officer later this year. Katie Jackson is currently President of National Grid Ventures, responsible for the development and operation of large-scale infrastructure energy assets. She will join Rio Tinto on 1 September…
Mitie Group acquires ESM Power in a £8.5 million deal
LONDON: Mitie Group plc has entered into an agreement to acquire ESM Power, a leading high voltage electrical engineering business specialising in grid and power connections, for a maximum consideration of £8.5m (comprising an initial payment of £5.5m and performance-linked deferred payments of up to £3m over two years). Completion is expected on 31 July…
HSBC Holdings appoints Georges Elhedery as Group Chief Executive
LONDON: HSBC Holdings plc today announced that Georges Elhedery has been appointed as Group Chief Executive, with effect from 2 September 2024. HSBC Group Chairman, Sir Mark Tucker, said: “I am delighted to confirm Georges as the next HSBC Group Chief Executive. He is an exceptional leader and banker who cares passionately about the Bank,…
Aramco acquires an equity interest in APQ’s Blue Hydrogen Industrial Gases Company
Aramco has signed definitive agreements to acquire an equity interest in the Jubail-based Blue Hydrogen Industrial Gases Company (BHIG), a wholly-owned subsidiary of Air Products Qudra (APQ).
Cloud-native platform, Tekion, gets $200 million in growth equity capital from Dragoneer Investment
Tekion, innovator of the first cloud-native platform serving the entire automotive retail ecosystem, today announced that it has secured $200 million in growth equity capital from Dragoneer Investment Group
TotalEnergies and SSE to establish Source, a new major player in EV charging infrastructure
TotalEnergies (LSE:TTE) and SSE have signed a binding agreement to create a joint venture to establish a new major player in EV charging infrastructure in the UK and Ireland, under the brand “Source”
Intrum AB signs investment agreement with an affiliate of Cerberus Capital Management
STOCKHOLM: Intrum AB has signed a term sheet regarding an investment agreement with an affiliate of Cerberus Capital Management, L.P. for future investments in consumer unsecured non-performing loan portfolios. This agreement allows Intrum to scale its investment activity without increasing its debt, providing servicing revenues and additional portfolio management revenues, in line with its ‘capital-light’…
Eurazeo infrastructure fund held its final close at €706 million
Eurazeo announced that its maiden infrastructure program (comprising the Eurazeo Transition Infrastructure Fund – ETIF or Fund – and a co-investment vehicle) has held its final close at €706 million in aggregate commitments
Spectra Systems to manufacture sensors for an existing central bank customer
LONDON: Spectra Systems Corporation, a leader in machine-readable high speed banknote authentication, brand protection technologies, security printing and gaming security software, entered into a contract worth $37.9 million to manufacture sensors for an existing central bank customer. A second tranche of consideration of $1.7 million is expected later this year upon signature of the related…