NEW YORK: Marsh McLennan (NYSE: MMC) announced that John Q. Doyle has been named President and Chief Executive Officer, effective January 1, 2023. Daniel S. Glaser, will retire from Marsh McLennan at year end following a decade leading the Company through a period of extraordinary growth and change. Mr. Doyle has served as Group President…
FW Thorpe buys 80% shares of SchahlLED Lighting in Germany
LONDON, UK: FW Thorpe announced the acquisition of 80% of the share capital of SchahlLED Lighting in Germany, a turnkey provider of intelligent energy saving lighting products for the industrial and logistics sector. FW Thorpe has paid an initial consideration of €14.6m (circa £12.8m) and could pay an additional amount to be determined by SchahlLED’s…
SAFEEN Feeders and Invictus Investment to launch dry bulk shipping service
ABU DHABI, UAE: AD Ports Group’s SAFEEN Feeders has signed a major agreement with Invictus Investment to launch a new international dry bulk shipping service. SAFEEN Feeders and Invictus Investment will form a joint venture to operate the service. The joint venture will be owned 51% by SAFEEN Feeders and 49% by Invictus Investment. Under…
Emirates Steel Arkan, ITOCHU and JFE Steel to create green iron supply chain
ABU DHABI, UAE: Emirates Steel Arkan (ESA), the UAE’s biggest publicly traded steel and building materials company, has partnered with ITOCHU Corporation and JFE Steel Corporation to consider the construction of a ferrous raw material production facility in Abu Dhabi that would become an integral part of a global low carbon emission iron supply chain….
Finance House partners GCC Exchange to offer WPS Payroll Solution
ABU DHABI, UAE: Finance House, one of the UAE’s leading financial institutions, has partnered with GCC Exchange to offer a world-class WPS Payroll Solution. GCC Exchange is the fast-growing money transfer and foreign exchange company in the Emirates. This partnership is in line with the UAE government’s initiative to create a fair work environment that…
ADNOC Drilling Company acquires two additional premium offshore jack-up drilling rigs
ABU DHABI, UAE: ADNOC Drilling Company PJSC has signed a Sale and Purchase Agreement (SPA) to acquire an additional two premium offshore jack-up drilling units (the rigs). The acquisition, which underpins the company’s accelerated fleet expansion and enterprising growth, is the fourth confirmed by the Company in recent months. Earlier sale and purchase agreements were…
Superloop Limited to acquire VostroNet for A$35mn
SYDNEY, AUSTRALIA: Superloop Limited (ASX:SLC) has entered into a sale and purchase agreement (SPA) to acquire VostroNet Holdings Pty Ltd, a provider of wholesale Fibre-to-the-Premises (FTTP) access networks and purpose built student accommodation broadband. The acquisition consolidates and expands Superloop’s strong managed WiFi position into adjacent On-Net broadband markets. VostroNet is a leading infrastructure owner…
Universal Store to acquire youth fashion business, Cheap THRILLS
BRISBANE, AUSTRALIA: Universal Store Holdings Limited (ASX:UNI) has entered into a binding agreement to acquire 100% of Cheap THRILLS Cycles Pty Limited (CTC), trading as THRILLS, a designer, wholesaler and retailer of casual youth fashion apparel. Universal Store has agreed to acquire 100% of THRILLS for an initial notional Enterprise Value of $50 million (on…
Inventis Limited to acquire furniture manufacturer, Open Projects Group
SYDNEY, AUSTRALIA: Inventis Limited, through a 100% owned subsidiary, has entered into a Heads of Agreement to purchase 80% of the Open Projects Group (OPG) with rights to acquire up to 100% in five years. Under the agreement Inventis Limited will pay $3.4 million in cash over 24 months and issue $200,000 of IVT Group…
Stephanie Tully appointed as new Chief Executive Officer of Jetstar
SYDNEY, AUSTRALIA: The Qantas Group has appointed Stephanie Tully as the new Chief Executive Officer of Jetstar Airways. This follows the announcement in June that current Jetstar CEO, Gareth Evans, will leave his role by the end of calendar 2022. Stephanie Tully joined the national carrier in 2004 and has worked across operational, commercial, marketing…
AML3D Limited appoints Ryan Millar as new CEO
SYDNEY, AUSTRALIA: The Board of AML3D Limited (ASX:AL3), a global provider of large-scale metal additive manufacturing technology and solutions, announced the appointment of Mr Ryan Millar as new CEO, with immediate effect. The addition of Mr Millar to the Company’s leadership as CEO, is in line with AML3D’s plans of expanding its executive capabilities as…
Jayex Technology appoints Robert Hadley as Chief Executive Officer
MELBOURNE, AUSTRALIA: Jayex Technology Limited (ASX: JTL) announced Mr Robert Hadley has been appointed as Chief Executive Officer (CEO) effective 3 October 2022. The appointment follows a search process which identified Mr Hadley as the candidate with the demonstrated experience and most suitable skill set to advance the Company’s growth and strategy. Mr Hadley holds…