SYDNEY, AUSTRALIA: Generation Development Group Limited (ASX:GDG) has entered into a binding agreement to acquire the remaining 61.9%of Lonsec Holdings Pty Ltd’s fully diluted share capital not already owned by GDG for $197.4 million up-front consideration. Following GDG’s highly successful investment in Lonsec in 2020, a move to 100% ownership provides an opportunity for GDG…
OPEC+ Extends Oil Output Cuts Amid Market Challenges
On Sunday, OPEC+ made the decision to extend most of its deep oil output cuts well into 2025, surpassing market expectations. The group aims to stabilize the market amidst sluggish demand growth, elevated interest rates, and increasing US production. Oil prices currently hover around $80 per barrel, falling short of what many OPEC+ members require…
Valereum and Securities Trading Technology Mauritius to develop financial market infrastructure
LONDON: Valereum Plc (AQSE: VLRM), the Gibraltar technology group, and Securities Trading Technology (Mauritius) Ltd (STT) have entered into a strategic partnership to jointly develop Valereum’s core technology infrastructure – “The Bridge” Digital FMI (Financial Market Infrastructure). STT will provide continued support and development from their extensive in-house expertise within capital markets technology, with a…
Renault Group and Geely create HORSE Powertrain Limited
PARIS, FRANCE: Following the joint venture agreement signed on July 11, 2023, and after having obtained the approval of the relevant authorities, Renault Group, Geely Holding Group (Geely Holding), Geely Automobile Holdings Limited (Geely Auto) (collectively referred to above as “Geely”) have officially created HORSE Powertrain Limited, headquartered in London, United Kingdom. Luca de Meo,…
Eurazeo sells its 25% stake in MCH Private Equity
PARIS: Eurazeo announced the sale of its 25% stake in MCH Private Equity (MCH), an asset manager specialized in small cap private equity in Spain. Eurazeo retains an EUR 80 million investment in the MCH V fund. An announcement will be made by Eurazeo before the end of July on the finalization of this process,…
Mutares enters exclusive negotiations for the sale of Repartim group
MUNICH: Mutares SE & Co. KGaA has entered into exclusive negotiations for the sale of its portfolio company Repartim to an institutional investor. In accordance with French law, a consultation process is currently taking place between the respective employee representatives of Repartim and the investor. The closing of the transaction is expected in the third…
Qben Infra to acquire Team Bygg AS, Holtekilen Bolig AS and Sørumsand Panorama AS
OSLO, NORWAY: On 31 May 2024 Qben Infra announced the signing of a share purchase agreement for all of the outstanding shares in Team Bygg AS from Tb Industrier AS. As part of the acquisition, Qben Infra has also signed a share purchase agreement for Tb Industrier AS’ 90% ownership stakes in Holtekilen Bolig AS…
MetalNRG plc sells its 10.97% stake in Italia MDC
LONDON: MetalNRG plc (LON:MNRG), the natural resources and energy investment company, has sold its 10.97% stake in EQTEC Italia MDC Srl, the company operating a waste to energy plant in Tuscany, to the provider of an unsecured facility agreement entered into by the Company in July 2020. As previously announced, following the Company’s strategic review…
NetScientific’s DeepTech Recycling secures £0.8M in latest funding round
LONDON: NetScientific plc, a venture capital investment group specializing in deep tech and life sciences, has announced that its portfolio company, DeepTech Recycling Limited, has completed a successful fundraising round of £0.8 million. This latest financial boost brings the total investment to £2.1 million, including previous funding rounds. DeepTech Recycling’s fundraising journey began with an…
RegTech CEO Ian Halliday-Pegg resigns
LONDON: RegTech Open Project plc (LSE: RTOP), the technology business specialised in the automation, management, and optimisation of regulatory compliance operations, announces that Ian Halliday-Pegg has tendered his resignation from his position as Chief Executive Officer and Director of the Company, effective today, to enable him to focus on his personal business interests. Ian Halliday-Pegg…
ANZ sells remaining 5.2% shareholding in AmBank
LONDON: ANZ has agreed to sell its remaining 5.2% of the issued capital in AMMB Holdings Bhd (AmBank) via a block trade at a price of MYR4.10 per share. ANZ Chief Financial Officer Farhan Faruqui said: “The sale of our equity stake in AmBank is a significant milestone in delivering on our strategy to simplify…
Saudi Aramco announces launch of a secondary public offering
The Government of the Kingdom of Saudi Arabia (the “Government“) and Saudi Arabian Oil Company (Saudi Aramco), the world’s largest integrated energy and chemicals company (the “Company“), today announce the launch of a secondary public offering of ordinary shares of the Company (the “Offering“) by the Government that will commence on Sunday, 2 June 2024….