PARIS: Edenred, a global leader in digital services and payments, has announced the acquisition of RB, a Brazilian company that specializes in employee transport benefits. The deal will enhance Edenred’s offerings in the Brazilian benefits market, especially in the SME segment, and generate significant synergies. RB, founded in 1999, manages and issues transport cards and…
JCDecaux SE confirms evaluating the opportunity to sell its stake in APG|SGA
PARIS: JCDecaux SE, the number one outdoor advertising company worldwide, confirms that it has entered into an agreement with Pargesa Asset Management S.A., to evaluate an intended coordinated disposal of their stakes in APG|SGA of 30% and 25.3% respectively, following the announcement today of APG|SGA that its Board of Directors has decided to initiate a…
Samsung unveils new memory chip for AI applications
Samsung Electronics, the world’s largest memory chip maker, has announced the development of a new high-bandwidth memory (HBM) chip that boasts the highest capacity and performance in the industry. The new chip, dubbed HBM3E 12H, is designed to meet the growing demand for high-capacity memory from AI service providers, who use generative AI models such…
Barbora Polska ceases operations in Poland
“Barbora Polska” Sp. z o. o., providing home food delivery service in Tricity, Warsaw, Katowice, and Lodz in Poland, is ceasing its operations. It is planned that “Barbora” services will be provided until March 3. According to the statement of Viktoras Juozapaitis, the director of RADAS, UAB, which controls the company “Barbora Polska“, the decision…
Ducon and deltaVision to co-develop fluid control solutions for space and hydrogen sectors
Ducon Infratechnologies Limited, a leading cleantech company in India, has announced a joint venture with deltaVision, a German start-up specialized in fluid control solutions for rocket fuel propulsion and hydrogen fuel delivery systems. The collaboration aims to co-develop and manufacture embedded products for the emerging Indian markets in the hydrogen and aerospace value chain. The…
Citi and BNP Paribas invest in United Fintech, a neutral platform for fintech innovation
United Fintech, a neutral Digital Transformation Platform that connects global financial institutions and cutting-edge technology providers, has secured strategic investments from Citi and BNP Paribas, two of the world’s leading banks. The deal, led by Citi, gives the banks rotating board seats and access to quarterly industry roundtables hosted by United Fintech, where they can…
Casino’s restructuring leads to Rallye’s bankruptcy and loss of control
PARIS: Casino, a French retail giant, has received the approval of the Paris Commercial Court for its accelerated financial restructuring plan, which will massively dilute the stakes of its existing shareholders. The plan, which is expected to be completed by 27 March 2024, will reduce Casino’s debt by €3.6 billion and extend its maturities by…
Peugeot Invest exits Groupe SEB with €236 million deal
PARIS, FRANCE: Peugeot Invest has sold its entire stake in Groupe SEB, a French manufacturer of small appliances, for €236 million. The deal was done through a private placement to institutional investors at €106 per share, a financial news announcement noted. Peugeot Invest, an investment company majority-owned by Etablissements Peugeot Frères, had invested in Groupe…
ADNOC Distribution unveils new growth strategy to become multi-energy leader
ABU DHABI, UAE: ADNOC Distribution, the UAE’s largest fuel and convenience retailer, announced its new five-year growth strategy at an Investor Day in Abu Dhabi on Monday, 26 February. The Company aims to establish itself as a multi-energy, convenience, and mobility leader by expanding its network, enhancing its customer experience, and scaling up its low-carbon…
Cloudbreak Discovery sells lithium database to Lonestar Lithium
LONDON: Cloudbreak Discovery Plc (LSE: CDL), a natural resource project generator and royalty business, has announced the sale of its proprietary database of lithium targets in Texas to Lonestar Lithium Inc. (OTC: LSLI). The database contains regional modelling and data compilation across eastern Texas, where lithium is a key commodity for the energy transition. Cloudbreak…
On the Beach and Ryanair sign a long-term partnership deal
LONDON: On the Beach Group plc, a leading online travel agency, has announced a long-term distribution agreement with Ryanair Holdings, Europe’s largest low cost carrier. The deal will allow On the Beach customers to book Ryanair flights as part of their holiday packages with full price transparency and ATOL protection. The deal also resolves the…
Hydrogen Utopia and Helmond Holding Group merge to create a hydrogen powerhouse
LONDON: Hydrogen Utopia International PLC (HUI), a pioneer in converting waste plastic into clean energy, has announced a reverse takeover deal with Helmond Holding Group Corp. (HHG), a leading bio-energy company based in the British Virgin Islands. The merger will combine HUI’s innovative technology that transforms non-recyclable mixed waste plastic into hydrogen and other carbon-free…