Do you own a business that relies heavily on technology to stay operational? If so, then understanding the importance of IT support and its vast array of benefits is essential. From increased security prevention of costly issues in infrastructure and software compatibility to saving time and money – outsourcing your IT services can be a…
GFH Partners acquires $150mn worth of logistics and industrial portfolio in Saudi Arabia and UAE
DUBAI, UAE: GFH Partners, a subsidiary of GFH Financial Group, has acquired a diversified logistics and industrial portfolio worth $150 million in Saudi Arabia and the UAE. The portfolio includes light industrial and cold storage facilities, distribution centers, and warehousing assets that are leased to a mix of international and regional tenants, including blue-chip companies….
Renault, Volvo and CMA CGM forming new company jointly to launch electric vans
PARIS, FRANCE: Renault Group, Volvo Group and CMA CGM Group, three leading players in the transport and logistics sectors, have announced a joint venture to develop and market a new generation of fully electric vans and associated services. The new company, which will operate under its own corporate identity and be based in France, aims…
MPC Energy Solutions exits from CHP project in Puerto Rico
AMSTERDAM: MPC Energy Solutions announced today that the company will focus on core strategic areas of its business and will, as a first step, exit one of its projects in Puerto Rico, a 2.6 MW combined-heat-and-power (CHP) plant. As part of the exit, MPCES will recoup the initial capital invested to fund the early stages…
Otovo sells solar subscription portfolios in Norway and Sweden for NOK 700m
OSLO, NORWAY: Otovo ASA, a leading game developer and solar energy provider, has announced that it has signed a share purchase agreement with Forte PV S.à.r.l, a part of Swiss Life Asset Managers, for the sale of its solar subscription portfolios in Norway and Sweden. The deal, worth up to NOK 700 million / EUR…
Mighty Kingdom appoints Interim CEO as it seeks growth opportunities
SYDNEY, AUSTRALIA: Mighty Kingdom Limited, a leading game developer, has announced that its Chief Financial and Operations Officer, Simon Rabbitt, will take over as Interim Chief Executive Officer with immediate effect. The Company is looking for a permanent CEO to lead its future expansion plans. Mr Rabbitt has 11 years of executive experience in the…
Steadfast Group buys US insurance agency network ISU Group for $55 million
SYDNEY, AUSTRALIA: Steadfast Group, an Australian insurance broker network, has entered the US insurance market by buying ISU Group, a private independent insurance agency network, for US $55 million. The deal, which was announced on Thursday, will be funded from Steadfast’s existing corporate debt facilities and free cashflow. It is expected to increase Steadfast’s earnings…
Exxon close to $60 billion deal for Permian oil producer Pioneer
Exxon Mobilis close to buying Pioneer Natural Resources (PXD.N) in a deal that could be worth about $60 billion, Reuters reported on Thursday. The deal would be Exxon’s largest since it bought Mobil for $81 billion in 1998 and would boost its presence in one of the most profitable areas of the U.S. oil industry….
OpenAI considers making its own AI chips: Reuters
OpenAI, the creator of ChatGPT, is looking into making its own chips for artificial intelligence and has even considered buying a chip company, sources familiar with the company’s plans told Reuters. The company has not made a final decision, Reuters said. But it has explored various ways to deal with the shortage of expensive AI…
ORIT to sell the Krzecin and Kuslin onshore wind farms in Poland to an affiliate of ORLEN S.A.
LONDON, UK: Octopus Renewables Infrastructure Trust plc (ORIT) has entered into a conditional agreement to sell the Krzecin and Kuslin onshore wind farms in Poland to an affiliate of ORLEN S.A. On completion of the transaction, ORIT expects to receive net proceeds, following the repayment of asset level debt and termination of hedging arrangements, of…
600 Groupto sell 80% shares in TYKMA Electrox and Control Micro Systems laser business
LONDON, UK: The 600 Group Inc. entered a non-binding letter of intent (LOI) with a U.S. based operationally-oriented mid-market private equity firm regarding the potential disposal of a majority interest in the business and assets of the Group’s wholly owned TYKMA Electrox and Control Micro Systems industrial laser businesses in the U.S. The LOI envisages…
AssetCo plc announces sale of interest in River & Mercantile Infrastructure (RMI)
LONDON, UK: AssetCo and its wholly owned subsidiary, River & Mercantile Holdings Limited have reached agreement in principle for the transfer of their interest as corporate partner in RMI, to partners of RMI led by Ian Berry, managing partner of RMI. Partners of RMI have agreed terms with AssetCo and Holdings to continue managing and…