LONDON: FirstGroup plc has announced its acquisition of RATP Dev Transit London Limited and its subsidiaries from RATP Développement SA for an enterprise value of £90 million. This strategic move marks FirstGroup’s entry into the competitive London bus market with a strong position. RATP London, one of the leading bus operators in the capital, holds…
Apax IX agrees to sell stake in AssuredPartners
LONDON: Apax IX Fund, in which Apax Global Alpha Limited (“AGA”) is a limited partner, has announced the full sale of its minority co-control stake in AssuredPartners, a leading mid-market property, casualty and employee benefits insurance brokerage, to Arthur J. Gallagher & Co. This transaction is expected to deliver a gross MOIC of 2.5×1 and…
Ashtead Group proposes shift to US primary listing
LONDON: Ashtead Group plc has announced plans to shift its primary listing to the United States, while retaining its UK listing in the International Companies segment. The Board believes this move aligns with the Group’s strategy and serves the best interests of its stakeholders. The decision comes as Ashtead increasingly operates as a US-focused business,…
Treasury Wine Estates acquires 75% stake in Ningxia Stone & Moon Winery for A$ 27.5 million
SYDNEY: Treasury Wine Estates Limited (ASX:TWE) has announced a strategic move to expand its presence in China by acquiring a 75% stake in Ningxia Stone & Moon Winery Co. Ltd (“Stone and Moon”) for RMB 130 million (approximately A$27.5 million). Stone & Moon is located in the renowned wine-producing region of Ningxia in north-western China…
Viva Leisure acquires 25% equity stake in World Gym Australia
SYDNEY: Viva Leisure Limited (ASX: VVA) has announced a strategic acquisition of a 25% equity stake in World Gym Australia (WGA) along with three corporate locations in Queensland. Valued at approximately $16.7 million, this acquisition marks a major milestone as the second-largest in Viva’s history. It is fully funded through existing cash reserves, banking facilities,…
Nuno Matos to succeed Shayne Elliott as ANZ CEO
SYDNEY: The ANZ Group Board has announced that Nuno Matos will take over as Chief Executive Officer on July 3, 2025, succeeding Shayne Elliott, who is retiring after nine years in the role. Matos will also join the boards of ANZ Group Holdings Limited and Australia and New Zealand Banking Group Limited as an Executive…
Brave Bison to acquire Engage Digital Partners for £10.6 million
LONDON: Brave Bison, the digital advertising and technology services company, has entered into an agreement to acquire the entire issued share capital of Engage Digital Partners Limited. Engage is a global sports marketing company that works with the world’s largest sports brands and federations including Formula 1, ICC, Real Madrid and New Zealand Rugby. Engage…
Pakistan may boost IT services exports to $10 billion with strategic interventions
Pakistan could potentially boost its IT services exports to $10 billion in the near future, according to a recent study by the Pakistan Institute of Development Economics (PIDE). However, the study emphasizes that “strategic policy interventions are essential across short and long-term horizons to propel the IT industry into a robust era of sustainable growth…
Camellia Plc sells shares in BF&M Limited to Bermuda Life for $100 million
LONDON: Camellia Plc sold its shares in BF&M Limited to Bermuda Life Insurance Company Limited for $100 million on 5 December. The sale resulted in a net profit of around £10.7 million for Camellia. The company plans to use the funds to grow its business by investing in its existing companies and exploring new opportunities….
Frasers Group to buy all the remaining shares in XXL ASA at NOK 10 per share
LONDON: Frasers Group plc is planning to buy all the remaining shares in XXL ASA that it doesn’t already own, offering NOK 10 per share in cash. This decision follows a recent shareholder vote against XXL’s proposed NOK 600 million rights issue. Frasers, which already holds 32.5% of XXL’s voting rights, opposes XXL’s alternative rights…
John Wood signs new engineering agreements with bp
LONDON: John Wood Group has entered into three major agreements with bp to provide engineering and project delivery services for their global capital projects. These agreements include a new master services agreement for engineering, procurement, and construction management (EPCm) services. Additionally, two existing long-term frameworks for conceptual engineering and Pre-FEED/FEED (front-end engineering and design) have…
Ryan Mahoney to succeed Peter Sharp as CEO of Michelmersh Brick Holdings
LONDON: Michelmersh Brick Holdings Plc (AIM: MBH), the specialist brick manufacturer, announces that Peter Sharp has informed the Board of his intention to retire as Chief Executive Officer (“CEO”) and a Director of the Company during 2025. As part of the Group’s ongoing succession planning, and following a third-party-led recruitment process involving both internal and…