After nearly 100 years of running Nigerian onshore oil and gas, Shell has decided to sell its subsidiary there for up to $2.4 billion to a group of five companies, mostly based in Nigeria. The buyer is the Renaissance consortium, which includes ND Western, Aradel Energy, First E&P, Waltersmith, all local oil exploration and production…
Bleu, a new cloud service provider for France, prepares for launch
PARIS: Bleu, a joint venture of Capgemini, Orange and Microsoft, is ready to offer its “cloud de confiance” services to French public and private organizations, starting from the end of 2024. Bleu aims to meet the specific cloud needs of the French State, public agencies, hospitals, regional authorities, and other critical operators, using Microsoft 365…
Ken Porpora appointed CEO of Horizon Group Holdings
Horizon Group Holdings, a leading provider of residential plumbing, electrical, heating and air conditioning services, has appointed Ken Porpora as its new Chief Executive Officer. Ken Porpora has over 25 years of experience in the home services industry, having held various senior roles at ADT, the leading provider of security, interactive and smart home solutions…
Atalaya Leasing appoints Jeff Fields as President
Atalaya Capital Management LP, a leading alternative investment management firm, announced today that Jeff Fields has joined as President of Atalaya Leasing, its equipment backed investment strategy. Jeff Fields, former CEO of Chesswood Capital Management and a veteran of RBC Capital Markets, will work with Rana Mitra, Head of Leasing at Atalaya, to expand its…
Moda completes sale of Vopak Moda Houston terminal interest
Moda Midstream and its financial sponsor EnCap Flatrock Midstream completed the previously announced sale of Moda’s 50 percent interest in the Vopak Moda Houston terminal joint venture to Madrid-based Exolum, a leading European logistics company for liquid products, with operations in nine countries. Terms of the agreement were not disclosed. “Moda has again accomplished its…
AI to reshape global economy and job market, IMF warns
A new report from the International Monetary Fund (IMF) says that artificial intelligence (AI) will have a profound impact on the global economy and the future of work, bringing both opportunities and challenges. The report, titled Gen-AI, estimates that 40 per cent of jobs worldwide will be affected by AI, either by enhancing productivity or…
EQTEC and CompactGTL team up to turn waste into fuel
LONDON: EQTEC plc, a global technology company that converts waste into hydrogen, biofuels and energy, has formed a joint venture with CompactGTL, a gas-to-liquids specialist, to develop a new solution for producing liquid fuels from waste. The joint venture, owned equally by the two partners, aims to build a reference plant that will demonstrate the…
Jubilant Foodworks raises cash offer for DP Eurasia to £161.2m
Jubilant Foodworks offers to acquire DP Eurasia at the rate of 85 pence/share Jubilant Foodworks raises offer for DP Eurasia to £139.3m LONDON: Jubilant Foodworks, the owner of Domino’s Pizza in India, has agreed to buy the rest of DP Eurasia, the operator of Domino’s Pizza in Turkey and Russia, for 110 pence per share…
LDC enters talks to acquire Groupe Routhiau
PARIS, FRANCE: LDC (Lambert Dodard Chancereul), a leading European poultry and ready meal company, has entered into exclusive talks to buy Groupe Routhiau, a family-owned business with a turnover of €72 million and 360 employees. The deal is expected to boost LDC’s product portfolio, logistics and purchasing efficiency, and cultural fit. Groupe Routhiau, founded in…
Critical Mineral Resources acquires 26 exploration permits in Morocco
LONDON, UK: Critical Mineral Resources plc (CMR), a company focused on clean energy metals in Morocco, has announced the acquisition of 26 exploration permits in central Morocco through the purchase of Hesperis Resources SARL, a Moroccan company. The permits cover about 400 km2 of land rich in copper, antimony, tungsten, lead-zinc and gold. The acquisition…
Nostra Terra and Cypress join forces to tap into East Texas oil potential
LONDON: Nostra Terra, an international oil and gas company with assets in Texas, has signed a strategic partnership with a subsidiary of Cypress, a seismic data provider. The partnership will allow the two companies to use 3D seismic data to explore and develop new oil wells in a large area of East Texas, where they…
RBC announces targeted close date for proposed acquisition of HSBC Bank Canada
TORONTO: Royal Bank of Canada announced that the targeted close date for the proposed acquisition of HSBC Bank Canada will be Thursday, March 28, 2024, subject to the satisfaction of customary closing conditions. Conversion activities will begin once the transaction closes and will continue until April 1, 2024. HSBC Bank Canada’s branches and offices will…