LONDON, UK: Rathbones Group Plc and Investec PLC have entered into a definitive agreement regarding an all-share combination of Rathbones with Investec Wealth & Investment Limited (Investec W&I UK) to create the UK’s leading discretionary wealth manager. The combination brings together two trusted and prestigious UK wealth management businesses with closely aligned cultures and operating…
Dr Jelena Arsic van Os appointed CEO of Accsys Technologies
LONDON, UK: Accsys Technologies, the fast-growing and eco-friendly company that combines chemistry and technology to create high performance, sustainable wood building products, announced that Dr Jelena Arsic van Os has been appointed Chief Executive Officer Designate and a member of the Board of Accsys, with effect from 1 July 2023 at the latest. Upon her…
World Wrestling Entertainment (WWE) and Ultimate Fighting Championship (UFC) have agreed to merge
In a major development in the world of sports and entertainment, World Wrestling Entertainment (WWE) and Ultimate Fighting Championship (UFC) have agreed to merge to create a new company controlled by Endeavor Group. The deal was announced on Monday morning and is expected to be completed in the second half of 2023. According to the…
FTC orders Illumina to divest its $7.1 billion acquisition of cancer test developer Grail
The Federal Trade Commission (FTC) has ordered Illumina to divest its $7.1 billion acquisition of cancer test developer Grail, citing concerns that the deal would stifle innovation and competition in the market for multi-cancer early detection tests. The FTC’s decision reverses an administrative judge’s ruling from September, which had dismissed the FTC’s initial challenge to…
General Motors sold over 60,000 vehicles in U.S. during first quarter of 2023
General Motors (GM) said automobile sales in U.S. surged 18% in the first quarter of 2023 from a year ago, to over 600,000 vehicles delivered. “We gained significant market share in the first quarter, pricing was strong, inventories are in very good shape, and we sold more than 20,000 EVs in a quarter for the…
Google signs Power Purchase Agreement with Ørsted for renewable energy in Texas
LONDON, UK: In a move to advance its commitment to operate on 24/7 carbon-free energy by 2030, Google has signed a power purchase agreement (PPA) with Ørsted to purchase renewable energy generated by Helena Wind Farm for the next 15 years. The project, which is located in Bee County, Texas, was commissioned in mid-2022 and…
Franchise Brands may acquire Pirtek Europe for of £212.2 million
LONDON, UK: Franchise Brands plc may acquire Hydraulic Authority I Limited, the owner of Pirtek Europe, for a consideration of £200 million. Franchise Brands will also pay £12.2 million for cash, debt and working capital adjustments. In line with Franchise Brands’ strategy to complement organic growth with selective accretive acquisitions focused on B2B franchise systems…
Westpac completes merger of BT’s funds with Mercer Super Trust, and sale of Advance Asset Management business
SYDNEY, AUSTRALIA: Westpac has completed the previously announced merger of BT’s personal and corporate superannuation funds with Mercer Super Trust and the sale of its Advance Asset Management business to Mercer Australia. The merger and sale were first announced on 26 May 2022. Westpac expects to report an after-tax gain on the sale of Advance…
Groupe Berkem acquires Biopress, a French producer of vegetable oils and proteins
PARIS, FRANCE: Groupe Berkem announced the completion of the acquisition of Biopress, a French producer of 100% natural vegetable oils and proteins. Olivier FAHY, Chairman and CEO of Groupe Berkem stated: “Raw material sourcing has always been a real know-how for Groupe Berkem and, faced with an inflationary and geopolitically complex environment, we felt that…
Delfingen has acquired Reiku GmbH in Germany and AHN Chem Co. in Korea
PARIS, FRANCE: Delfingen has announced acquisition of Reiku GmbH in Germany and AHN Chem Co. in Korea in the strategic industrial cabling and textile protection markets for Mobility and Industry. Delfingen acquired 85% of Reiku GmbH, a German family-owned company founded in 1969 and located in the town of Wiehl. Specialized in the protection of…
Lords Group Trading has acquired Chiltern Timber for £1.65 million
LONDON, UK: Lords Group Trading Plc has acquired Chiltern Timber Supplies Limited for a total consideration of up to £1.65 million on a net cash free/debt free basis. The acquisition is in line with the Group’s stated IPO strategy, due to its complementary geographic position to the Group’s existing Merchanting branches, offering product range extension…
BurnStar Technologies will process LNG on site at Ironveld’s Rustenburg smelter
LONDON, UK: Ironveld Energy has signed a Letter of Intent (LOI) with BurnStar Technologies (Pty) Limited to proceed towards a binding Legal Agreement under which BurnStar will, implement its patent-pending ‘Guilt-Free Hydrogen technology, to process Liquefied Natural Gas (LNG) on site at Ironveld’s Rustenburg smelter. Under the Agreement, BurnStar will produce hydrogen as a furnace…