LONDON, UK: TI Fluid Systems (LON:TIFS), a leading global supplier of automotive fluid systems technology, has agreed to acquire Cascade Engineering Europe, a Hungarian-based leader in the design and manufacturing of thermal fluid connectors and other complex plastic injection moulded components for the automotive industry. The business has a strong reputation for its technical expertise…
PZ Cussons to buy out Nigerian unit and de-list from stock exchange
LONDON, UK: PZ Cussons, a British consumer goods company, has announced its intention to acquire the remaining shares of its Nigerian subsidiary, PZ Cussons Nigeria Plc (PZCN), and de-list it from the Nigerian stock exchange. The move is aimed at simplifying and strengthening its business in Nigeria, a key market for the Group. According to…
Caledonia Investments signs deal to sell Seven Investment Management (7IM) for £255 million
LONDON, UK: Caledonia Investments plc has agreed terms for the sale of its majority stake in Seven Investment Management (7IM), a vertically integrated retail wealth management business, to Ontario Teachers’ Pension Plan Board (OTPP), a global investor with approximately C$250 billion in net assets. The transaction is subject to change in control approval by the…
Molecular Energies evaluates to sell President Energy Holding UK for up to $40 million
LONDON, UK: Molecular Energies (AIM: MEN), an international energy company, has announced its plan to sell its oil and gas business in Argentina to PLLG Investments Limited, a company owned by Peter Levine, for up to US$40 million. The deal involves selling all the shares of President Energy Holding UK Limited, which owns and operates…
UAE sets up gaming regulator, eyes casino legalization
The UAE is taking steps to become the first Gulf country to allow casinos, as it announced the formation of a federal authority to oversee the gaming industry. The new body, which will be led by former MGM Resorts International CEO Jim Murren, will create a “world-leading regulatory framework” for a national lottery and commercial…
AXA XL appoints Lucy Pilko as new Americas CEO
Lucy Pilko will be the new Americas CEO of AXA XL, a global insurer and reinsurer, starting from 30 October. She will be based in New York and oversee the US, Canadian, and Bermudian insurance operations. Pilko joins AXA XL from Boston Consulting Group (BCG), where she was a managing director and senior partner. She…
Kier buys rail assets and HS2 contract from Buckingham
LONDON, UK: Kier Group plc has agreed to buy most of the rail assets and the HS2 contract of Buckingham Group Contracting Limited, which is in administration, for £9.6 million in cash. The HS2 contract is for supplying EKFB, a joint venture of Kier and other companies, which is working on the high-speed rail project….
London Stock Exchange to launch blockchain-based trading platform
LONDON: The London Stock Exchange Group PLC (LSEG) is working on a new trading platform that will use blockchain technology to trade traditional financial assets, such as equities. This was reported by the Financial Times on Monday. According to the report, London Stock Ex’s capital markets and data-technology division has been researching the potential of…
Zenith secures 90-day exclusivity to evaluate acquisition of oil assets in Kazakhstan
OSLO, NORWAY: Zenith Energy (OSE: ZENA), the international energy production and development company, has signed an MOU with a company incorporated in Kazakhstan securing a period of exclusivity for a duration of ninety days to evaluate a potential acquisition. The seller in Kazakhstan holds a 100% interest in an oil production asset located in the…
Coinsilium signs collaboration agreement with BLVCK Paris for strategic Web3 initiatives
LONDON, UK: Coinsilium Group Limited (AQSE: COIN) has signed a Master Collaboration Agreement with global lifestyle fashion brand company Blvck Limited to establish a framework for engagement on future projects including Web3 projects. On 18 February 2022 Coinsilium announced that it had entered an advisory agreement with Blvck Paris for the launch of the ‘Blvck…
Hancock & Gore (H&G) to acquire majority stake in Mountcastle, a leading uniform provider
SYDNEY, AUSTRALIA: Hancock & Gore Limited (H&G), a diversified investment company, has announced that it has reached an in principle agreement to acquire an additional 40.3% stake in Mountcastle, a manufacturer, distributor and retailer of customised uniforms, from its shareholder partner. The deal will increase H&G’s ownership in Mountcastle to 89.8%, with a clear strategic…
Frontier Energy to acquire Waroona Energy and create a renewable energy giant
SYDNEY, AUSTRALIA: Frontier Energy Limited, the Australian renewable energy company, has announced that it has signed a letter of intent to acquire all the shares of Waroona Energy Inc., the Canadian renewable energy company, that it does not already own. Frontier currently holds 20% of Waroona. The acquisition aims to create a large-scale Australian renewable…