LONDON, UK: British American Tobacco (BAT) has sealed an agreement to divest its operations in Russia and Belarus, the company confirmed on Thursday. This move comes more than 18 months after the large-scale invasion of Ukraine prompted numerous Western firms to withdraw from Russia. BAT disclosed in a statement that it had formalized a sales…
UK to Rejoin EU’s Horizon Research Scheme and Copernicus Project
LONDON: In a significant development, the UK government has officially announced its reentry into the renowned EU science research initiative, Horizon. Effective immediately, scientists and research institutions based in the UK will once again be eligible to apply for funding from this flagship European scheme. Additionally, the UK will regain access to the Copernicus project,…
Smurfit Kappa and WestRock in talks over $20bn merger
The world’s largest and second-largest paper and packaging companies, Smurfit Kappa and WestRock, have confirmed they are in discussions over a merger worth $20bn. The deal would create a new holding company, Smurfit WestRock, listed on the New York Stock Exchange but based in Ireland, with global headquarters in Dublin and regional headquarters in Atlanta,…
SaaSGrid secures $3.3 million in seed funding led by Craft Ventures
San FRANCISCO: SaaSGrid, the cutting-edge data and analysis platform tailored for SaaS metrics, has triumphantly closed a significant seed funding round, raising an impressive $3.3 million to fuel its growth and innovation. The investment, which demonstrates the growing interest in SaaS-focused solutions, was spearheaded by Craft Ventures, a prominent venture capital firm headquartered in San…
Nestle to buy majority stake in Brazilian chocolate maker Grupo CRM
Nestle, the Swiss food giant, will acquire a majority stake in Grupo CRM, a Brazilian premium chocolate company, from private equity firm Advent International, Brazil Journal reported. The deal, which is expected to be completed in 2024, will allow Nestle to expand its presence in the luxury chocolate segment, where it currently has a limited…
Morgan Stanley to launch AI chatbot for wealthy clients
Morgan Stanley is set to launch a generative artificial intelligence chatbot this month, in partnership with OpenAI, the makers of ChatGPT. The chatbot will listen to the conversations between the bank’s financial advisers and their wealthy clients, and provide various services such as meeting summaries, follow-up emails, database updates, and financial management tips. The chatbot…
Pantheon Infrastructure to invest £35 million in electric vehicle fleet specialist Zenobe
LONDON, UK: Pantheon Infrastructure PLC has committed to invest approximately £35 million in battery storage and electric vehicle fleet specialist Zenobe, through a co-investment vehicle managed by Infracapital, a leading European infrastructure investor that has raised and managed over £7bn in assets. Zenobe provides essential infrastructure that contributes to international power and transport sector decarbonisation…
Staple Street Capital joins forces with Wilkins Family to acquire Delaware Valley Floral Group
Private equity firm Staple Street Capital (SSC) has announced a partnership with members of the Wilkins family to acquire Delaware Valley Floral Group (DVFG). DVFG, headquartered in Sewell, NJ, is a major supplier of fresh cut flowers and floral supplies in the Northeast and Mid-Atlantic regions. Founded in 1959 by the Wilkins family and now…
Align Technology to acquire Cubicure Gmbh, pioneering 3D printing innovator
Align Technology, Inc. (Nasdaq: ALGN) has announced a definitive agreement to acquire Cubicure GmbH, a pioneer in direct 3D printing solutions for polymer additive manufacturing. Cubicure is known for its innovative materials, equipment, and processes in the field. The company’s patented Hot Lithography technology allows the processing of highly viscous resins to create tough and…
Crescent Energy expands Western Eagle Ford position with $250 million acquisition
Crescent Energy Company (NYSE: CRGY) announced today that it will buy more working interest in its Western Eagle Ford assets for $250 million in cash. This deal comes after the company acquired the operatorship of the same assets for $600 million in July 2023. The acquisition will increase Crescent’s production, cash flow and reserves, as…
Alchemy acquires numobile to offer device subscription and financing services
MELBOURNE, AUSTRALIA: Alchemy, a global leader in the circular technology market, has announced that it has acquired numobile, an Australian fintech company that offers mobile device subscription and financing services. The deal will enable Alchemy to expand its range of innovative services for the circular technology market, and to provide refreshed devices through subscription plans…
deskbird raises $13M Series A to scale its SaaS workplace management platform
deskbird, a Swiss company that provides a Software-as-a-service (SaaS) platform for workplace management, has secured $13 million in a Series A funding round. The round was led by ALSTIN Capital and AVP (AXA Venture Partners), two venture capital firms that focus on investing in high-growth technology companies in Europe and the US. The round also…