LONDON, UK: Johnson Matthey Plc (JM) has signed a definitive agreement to sell 100% of its Medical Device Components business (MDC) to Montagu Private Equity for cash consideration of US$700 million (£550 million) on a cash free debt free basis. The Medical Device Components business produces components for medical device manufacturers globally with a focus…
PRM Services makes on-market bid to acquire Sierra Rutile Holdings
SYDNEY, AUSTRALIA: Canaccord Genuity (Australia) Limited, acting as the Bidder’s Broker, has announced an unconditional on-market offer to acquire all available shares of Sierra Rutile Holdings Limited (SRX) at a cash price of A$0.095 per share. The offer, initiated by PRM Services LLC, aims to purchase up to 375,609,090 SRX Shares that are currently listed…
BPH Global’s top brass on strategic business tour in Malaysia and China
SYDNEY: To bolster its market presence, BPH Global Ltd (ASX: BP8) CEO Matthew Leonard and CFO Chow Yee Koh are currently on a strategic tour in Malaysia and China. The two-week trip, which began last week, is aimed at fortifying the company’s bird’s nest and hemp operations in the region. The journey, which also includes…
Gratifii signs deals with EML Payment to boost gift card services in Australia
SYDNEY: Gratifii Limited (ASX:GTI), a prominent loyalty and rewards enterprise, has announced the signing of two pivotal agreements with EML Payment Solutions Limited, a subsidiary of EML Payments Limited (ASX:EML). These agreements aim to enhance Gratifii’s offerings in the Australian market by delivering prepaid debit cards and expanding reward options for EML’s clientele. A 3.5-year…
Pepper Money buys remaining 35% of Stratton Finance for $42 million
SYDNEY: Pepper Money Limited (ASX: PPM) has exercised the call option over the remaining 35% stake in Stratton Finance Pty Limited. As previously announced, Pepper Money completed the acquisition of the 65% interest in Stratton on 1 July 2022. At the same time, the parties also entered into a Put and Call Option in relation…
Perseus Mining ups takeover bid offer for OreCorp to A$0.575 per share
SYDNEY, AUSTRALIA: OreCorp Limited has announced receiving a revised takeover offer from Perseus Mining Limited. The new proposal suggests an increased bid of A$0.575 per share. The offer is contingent upon the OreCorp Board’s recommendation post fulfillment of specific conditions outlined in the Target’s Statement. Major shareholders have signaled their approval of the amended offer….
Adacel secures $6.7 million FAA contract for air traffic control training
Melbourne: Adacel Technologies Limited, a leading provider of Air Traffic Management (ATM) and Air Traffic Control (ATC) simulation and training solutions, has been awarded a significant contract by the Federal Aviation Administration (FAA). The Firm Fixed Price contract, with a potential five-year duration, is valued at an estimated USD$6.7 million. Under the terms of the…
SCEE secures over $70 million in electrical and data centre contracts
SYDNEY: Southern Cross Electrical Engineering Limited (SCEE Group) has announced a series of lucrative contracts across New South Wales and Western Australia, totaling over $70 million. The awards signify SCEE Group’s expanding footprint in the data centre and resources sectors. In New South Wales, Heyday has been entrusted with a major electrical design and construction…
Sonic Healthcare to acquire Dr Risch laboratory group for CHF117 million
SYDNEY, AUSTRALIA: Sonic Healthcare Limited (ASX: SHL)has signed binding agreements to acquire the Dr Risch laboratory group. Dr Risch is a full-service medical laboratory group in Switzerland. Dr Risch employs around 650 staff in thirteen clinical laboratories across Switzerland and a laboratory in Vaduz, Liechtenstein. In CY 2023 the Swiss laboratories generated revenue of ~…
Ted Baker Faces Uncertain Future as Administrators Step In
The iconic British fashion label Ted Baker has been thrust into uncertainty as it calls in administrators, putting over 900 jobs in jeopardy. The brand’s owner, Authentic Brands Group, has cited significant financial damage during its partnership with the Dutch company AARC Group, which managed Ted Baker’s operations throughout Europe. According to Authentic Brands Group,…
Meta Slashes Subscription Fees Amid Privacy Regulation Tensions
Meta Platforms has announced a significant reduction in its monthly subscription fees for Facebook and Instagram across Europe. The revised pricing, now set at 5.99 euros—down from the previous 9.99 euros—reflects Meta’s response to the intensifying scrutiny from privacy watchdogs and antitrust regulators. This move is seen as an attempt to reconcile the company’s ad-based…
Energy demand to surge beyond population growth by 2050: CEO Kuwait Petroleum
At the CERAWeek by S&P Global energy conference, Shaikh Nawaf al-Sabah, CEO of Kuwait Petroleum Corporation, forecasted an energy demand trajectory that outpaces the anticipated population growth by 2050. This projection starkly contrasts with the prevailing belief that energy demand would reach its zenith within this decade. Al-Sabah highlighted the burgeoning energy needs of the…