LONDON: Afentra plc, the AIM-listed oil and gas entity with a focus on African assets, has announced the Angolan government’s approval for its acquisition of interests in two oil blocks from Azule Energy Angola Production B.V. The deal, which involves a 12% stake in Block 3/05 and a 16% stake in Block 3/05A, is now…
Ariana Resources Plc announces merger with Rockover Holdings
LONDON: Ariana Resources plc, a prominent AIM-listed mineral exploration and development company, has announced a landmark merger agreement to acquire Rockover Holdings Limited, thereby gaining full ownership of the Dokwe Gold Project in Zimbabwe. This move signifies a pivotal expansion beyond Ariana’s established Turkish operations and aligns with its strategic goal of establishing a global…
Norcros plc to sell Johnson Tiles UK for £1 million
LONDON, UK: Norcros plc, a market-leading designer and supplier of high quality bathroom and kitchen products in the UK, Europe and South African markets, announced that following a strategic review, it has entered into an agreement to sell Johnson Tiles UK to its existing management team. Johnson Tiles UK, based in Stoke-on-Trent UK, designs, manufactures…
Tietoevry halts banking business demerger, opts for in-group specialization
OSLO, NORWAY: Tietoevry has halted the demerger process of its Banking business, initially set in motion on July 22, 2022. The company had previously considered transforming its Banking division into a standalone entity to be listed on the stock exchange. However, on February 15, 2024, Tietoevry’s Board of Directors approved a demerger plan, while also…
Happiest Minds Technologies agrees to acquire PureSoftware for $94.5 million
LONDON: Happiest Minds Technologies Limited (NSE: HAPPSTMNDS) signed definitive agreements to acquire 100% of the equity share capital of PureSoftware Technologies Private Limited for a total purchase consideration of US$ 94.5 Million. PureSoftware with a global presence and headquarters in Noida is a fast-growing Digital Engineering & Transformation Services and solutions provider with deep domain…
Finsight Group has acquired T-REX cloud-native platform
Finsight Group Inc., a financial technology company announced the acquisition of T-REX, a cloud-native platform engineered to accurately model and manage the most complex investments across private credit, structured credit, and project finance. Along with the acquisition, FINSIGHT is excited to welcome Benjamin Cohen, T-REX Founder and CEO, Arad Shaiber, CTO, as well as key…
Augment Inc. raises $227 million at $977 million valuation
AI coding assistance startup Augment Inc. announced its $227 million Series B round at a $977 million post-money valuation with investments from Sutter Hill Ventures, Index Ventures, Innovation Endeavors, Lightspeed Venture Partners and Meritech Capital. This brings Augment’s total funding to $252 million, following its $25 million Series A led by Sutter Hill Ventures. The latest…
Invictus Energy signs agreement to power Zimbabwe’s Eureka Mine
JOHANNESBURG: Invictus Energy Limited has partnered with Dallaglio Investments and Himoinsa Southern Africa to launch a gas-to-power project at Zimbabwe’s Eureka Gold Mine. The African Energy Chamber endorses the initiative, which aims to enhance energy efficiency and reliability in the mining sector. The project will utilize natural gas from the Cabora Bassa Project to replace…
Perenco sponsors Invest in African Energy (IAE) forum
PARIS: Perenco, an independent hydrocarbon producer, has become a Silver Sponsor for the Invest in African Energy (IAE) forum, underscoring its dedication to Africa’s oil and gas potential. The company, with a presence in multiple African nations, is at the forefront of the continent’s energy development, notably in Gabon with its $1-billion Cap Lopez LNG…
Alba Mineral Resources secures option for lithium exploration in WA
LONDON: Alba Mineral Resources plc has announced the acquisition of an option to purchase a 50% stake in the Andover West Lithium Project, located in the lithium-rich region of West Pilbara, Western Australia. The deal includes exploration licences E47-3373 and ELA47-4844, amid a surge of lithium exploration activity in the area. Recent discoveries near the…
Suzano Ventures invests in Bioform Technologies
Suzano Ventures, the corporate venture capital arm of Suzano, the world’s largest market pulp producer, has made a strategic investment into the Canadian materials science startup, Bioform Technologies. The investment provides up to US$5 million towards the company’s seed round, enabling it to accelerate the development of its novel bio-based plastic alternatives. The products can…
Casino Group announces major transformation plan amidst financial restructuring
PARIS: Casino Guichard-Perrachon, commonly known as Casino Group, has unveiled a comprehensive transformation plan. The initiative comes on the heels of a challenging financial period marked by significant net losses and aims to realign the organization with its new focus on convenience store networks. Strategic Organizational Changes The plan outlines a series of strategic changes,…