LONDON: GXO Logistics, Inc. (“GXO”) has announced a cash offer for Wincanton Plc (“Wincanton”), a leading UK provider of supply chain solutions, valuing the company at £762 million. Wincanton shareholders will receive 605 pence in cash for each share they hold, a 26 per cent. premium over the final offer from CEVA, a rival bidder,…
Power Metal to acquire 75% stake in GSAe
LONDON: Power Metal Resources PLC, a London-listed exploration company, has announced a deal to buy 75% of GSAe, a UK-based engineering technology provider that specialises in extracting strategic metals from waste sources. GSAe’s technology enables the production of high-purity metals such as scandium, yttrium, rare earth elements, vanadium, nickel and niobium, which are used in…
Technip Energies announces €100 million share buy-back program
PARIS: Technip Energies, a leading Engineering & Technology company for the Energy Transition, has launched a share buy-back program of up to €100 million, with the aim of returning capital to shareholders and fulfilling its obligations under equity compensation plans, a company announcement noted. The program, which will run until December 31, 2024, will allow…
BSF and Amelie Pichard to create first lab-grown leather fashion accessories
LONDON: BSF, a biotech company that owns tissue engineering firms 3DBT and Kerato, has signed a memorandum of understanding with Maison Amelie Pichard, a fashion company that uses eco-friendly materials, to develop and sell fashion accessories that incorporate lab-grown leather. This is the first time that real lab-grown leather, which mimics the structure of traditional…
Getech and East Star Resources join forces to explore copper in Kazakhstan
LONDON: Getech, a world-leading locator of subsurface resources, has entered into a joint venture agreement with East Star Resources plc, a London listed Kazakhstan focused copper exploration company, to pursue copper exploration in Kazakhstan. The joint venture will be conducted through a subsidiary established specifically for this purpose. Utilising its proprietary data, enhanced by in-house…
Sirius Real Estate acquires business park near Dresden for €13.75 million
LONDON: Sirius Real Estate, a leading provider of conventional and flexible workspace in Germany and the U.K., has bought a business park in Klipphausen, near Dresden, along with an adjacent land parcel for €13.75 million (£11.73 million). The deal is part of the company’s expansion strategy, funded by its €165 million (£147 million) capital raise…
Financial regulator finds wholesale data market can be improved
The Financial Conduct Authority (FCA) has today published the findings of its wholesale data market study, which examined competition in the markets for credit ratings data, benchmarks and market data vendor services. The regulator has ruled out a significant intervention because of potential unintended consequences, such as on the availability and quality of data, in…
South32 sells Illawarra Metallurgical Coal business in Australia for up to $1.65B
LONDON: South32 Limited, a diversified mining company, has announced that it has agreed to sell its Illawarra Metallurgical Coal business in Australia to a consortium of Golden Energy and Resources Pte Ltd (GEAR) and M Resources Pty Ltd (M Resources) for up to US$1.65 billion. The deal, which is expected to close in the first…
VAALCO Energy to buy Svenska Petroleum for $66.5 million
LONDON: VAALCO Energy, a Houston-based oil and gas company, has announced that it has signed a deal to acquire Svenska Petroleum Exploration AB, a Swedish E&P company with a stake in a deepwater field in West Africa. The deal, which has an effective date of October 1, 2023, is valued at $66.5 million, subject to…
How the World Finance Corp Scandal Shook the Banking Industry and International Relations
The World Finance Corp (WFC) was a financial corporation founded in 1971 by a former Cuban banker and CIA agent, Guillermo Hernandez-Cartaya. It claimed to be a legitimate and innovative institution that offered loans and investments to developing countries, especially in Latin America and the Caribbean. However, in the late 1970s, WFC was involved in…
Reliance and Disney merge India media assets in $8.5 billion deal
Reliance Industries and Walt Disney have announced the merger of their India TV and streaming media businesses, creating an $8.5 billion entertainment giant that will dominate the market in the world’s second-most populous country. The deal will see Reliance, led by billionaire Mukesh Ambani, inject $1.4 billion in the merged entity, and hold a 63%…
IEG acquires Maxbox Supplies to expand liquid waste solutions
Impact Environmental Group (IEG), a global provider of environmental products and services, has acquired Maxbox Supplies, a Texas-based manufacturer and distributor of spill prevention and containment products. The deal, which follows IEG’s acquisition of The Tarp Depot in 2023, strengthens IEG’s presence in the liquid waste sector and enables it to offer a wider range…