Cenomi Retail, a leading retail partner in Saudi Arabia, has entered into a variation agreement to sell the franchise rights of five prominent brands to Abdullah Al-Othaim Fashion Company. This agreement, an extension of the Share Purchase Agreement dated December 6, 2023, marks a significant shift in Cenomi Retail’s focus towards champion brands. The transaction,…
Alkhabeer Capital sells prime Riyadh property
RIYADH: Alkhabeer Capital, the managing entity of Alkhabeer REIT Fund, has officially completed the sale of its prominent B&Q property, previously known as the “Homeworks Center,” situated in the King Fahd District of Riyadh. The transaction was finalized on the 18th of September in the Islamic calendar year 1445 AH, which corresponds to the 28th…
Introduction to Strategic Enterprise Resource Planning
In the past two decades, the software market has been significantly influenced by the strategic implementation of Enterprise Resource Planning (ERP). The transformative impact of Strategic Enterprise Resource Planning (SERP) on day-to-day business operations. SERP has emerged as a critical tool for organizations seeking to enhance their competitive edge, reduce costs, and prepare for the…
Blue Yonder acquires One Network Enterprises in $839 million deal
Blue Yonder has announced the acquisition of One Network Enterprises for an estimated $839 million. This strategic purchase positions Blue Yonder to deliver comprehensive services across planning, execution, commerce, and networks, bolstered by One Network’s Digital Supply Chain Network™ known for its autonomous services and intelligent control towers. The merger promises a robust ecosystem that…
RHI Magnesita has acquired Resco Products for $430 million
Resco Products, Inc., under Balmoral Funds LLC, is set to be acquired by Austria-based RHI Magnesita in a deal valued at up to $430 million. RHI Magnesita, a major player in the refractory product market and listed on the London Stock Exchange, aims to enhance its North American presence with this acquisition. “This transaction is…
K-Electric to build 200MW hybrid renewable energy project in Karachi
K-Electric Limited (KEL) has proposed a groundbreaking 200 MWp renewable hybrid power project. This initiative, combining wind and solar energy, is set to be developed at the Dhabeji Grid in Karachi. K-Electric proposed a competitive benchmark tariff of US Cents 5.1313/kWh, coupled with a request for USD indexation on the entire tariff to counter the…
Doma Holdings to merge with Title Resources Group in a $6.29 per share deal
Doma Holdings, Inc. (NYSE: DOMA) has announced a definitive merger agreement with Title Resources Group (TRG), a top title insurance underwriter. The deal, pending stockholder and regulatory approval, will see TRG acquiring all outstanding shares of Doma at $6.29 each, a 43.0% premium over the closing price on March 27, 2024. Post-merger, Doma’s underwriting and…
OurBus expands to Canada: Launches highly anticipated intercity route
OurBus, the U.S.-based bus service renowned for its exceptional rider satisfaction and innovative travel solutions, has announced the launch of its inaugural Canadian route. This strategic move introduces Canadians to a travel service that boasts over 10,000 five-star reviews and a reputation for revolutionizing comfort and accessibility in travel. Axel Hellman, SVP – Lines at…
Southwest Airlines Co. has acquired SAFFiRE Renewables
Southwest Airlines Co. has acquired SAFFiRE Renewables, LLC. This acquisition is a part of the airline’s subsidiary, Southwest Airlines Renewable Ventures, LLC, which focuses on securing scalable sustainable aviation fuel (SAF). “This acquisition marks Southwest’s transition from investor to sole owner of SAFFiRE, expressing our confidence in SAFFiRE’s technology and its potential to advance our…
The Power of Video: Meeting Consumer Expectations in a Digital Age
In today’s fast-paced digital landscape, video has become an essential tool for brands to connect with consumers. A recent market study sheds light on consumer preferences and expectations regarding video communication. Let’s dive into the key findings and explore how brands can leverage video technology effectively. 1. The Video Gap: Demand vs. Delivery The study,…
MidOcean Energy acquires Tokyo Gas stakes in Australian LNG projects
MidOcean Energy, a liquefied natural gas (LNG) company formed and managed by EIG, a leading institutional investor in the global energy and infrastructure sectors, announced the completion of the previously announced agreement for the acquisition of Tokyo Gas stakes in a portfolio of integrated Australian LNG projects. The acquisition includes Tokyo Gas’s stakes in the…
The Home Depot to acquire SRS Distribution for $18.25 billion
SRS Distribution, a leading distributor of residential and commercial building products in the United States, has entered into a definitive agreement with The Home Depot for acquisition at $18.25 billion. SRS Distribution is the portfolio company of Leonard Green & Partners and Berkshire Partners. The deal was announced through press releases by both companies. SRS…