KARACHI, PAKISTAN: : TPL Insurance Limited, a subsidiary of TPL Corp Limited, has entered into a Share Subscription Agreement and a Shareholders Agreement with Finnfund, a major development financier and impact investor, investing in responsible and profitable businesses in the developing countries. The acquisition follows TPL Insurance’s earlier disclosure, dated October 26, 2021 to the…
Are Audi’s Expensive to Insure?
Insurance is a major cost for motorists to cover each month. Interestingly, insurance prices fell during the pandemic due to a lot less traffic (and accidents) on the road, but this is all changing now as life starts to return to normal. Experts have stated that insurance costs could rise to pre-pandemic levels before the end of…
Elon Musk offers to buy Twitter for $43 billion
Elon Musk has made an offer of $54.20 per share in cash, representing a 54% premium over the Jan 28. closing price and a value of about $43 billion to acquire Twitter Inc.. The social media company’s shares soared 18%.Musk, 50, announced the offer in a filing with the U.S. Securities and Exchange Commission on Thursday….
VINCI Highways to acquire controlling stake in Confederation Bridge concession in Canada
NANTERRE, FRANCE: VINCI Highways has signed an agreement with OMERS Infrastructure to acquire its 65.1% stake in Strait Crossing Development Inc (SCDI), the company owning the concession contract of the Confederation Bridge until 2032, a statement noted. The Confederation Bridge (12.9 km) connects since 1997 Prince Edward Island Province and New-Brunswick, spanning over the Northumberland…
ArcelorMittal buys 80% shares in voestalpine’s Hot Briquetted Iron plant for $1.0bn
AMSTERDAM, NETHERLANDS: ArcelorMittal has signed an agreement to acquire an 80% shareholding in voestalpine’s world-class Hot Briquetted Iron (HBI) plant located in Corpus Christi, Texas. voestalpine will retain the remaining 20%. The transaction values the Corpus Christi operations at $1 billion and closing is subject to customary regulatory approvals. The state-of-the-art plant, which was opened…
Accel-KKR led consortium offers to acquire Basware Corporation for EUR 619.91 million
HELSINKI, FINLAND: Accel-KKR led consoritium has offered to acquire all the issued and outstanding shares in Basware Corporation that are not held by Basware or its subsidiaries. The cash consideration of EUR 40.10 per share represents a total equity value of approximately EUR 619.91 million.The share offer price represents a premium of approximately 94.7 per…
PMS and SulNOx join forces to drive decarbonisation in Europe and North Africa
LONDON, UK: Group PMS International (PMS) and SulNOx have joined forces to drive decarbonisation in Europe and North Africa. PMS is a long established, Spanish multinational based in Barcelona, with subsidiary companies in Algeria and Morocco and business operations in Tunisia, Nigeria, Angola, Cameroon, Ghana and Senegal. As the first foreign company to create a…
Halma Plc has acquired Canada based Deep Trekker for £36mn
LONDON: Halma Plc, the global group of life-saving technology companies focused on growing a safer, cleaner and healthier future for everyone every day, has acquired Deep Trekker Inc. Headquartered in Ontario, Canada, Deep Trekker is a market-leading manufacturer of remotely operated underwater robots used for inspection, surveying, analysis and maintenance. It serves markets including aquaculture,…
Morrison Brookfield Consortium buys Uniti Group for $3.73 billion
SYDNEY AUSTRALIA: Morrison Brookfield Consortium has entered into a scheme implementation deed (SID) to acquire 100% of Uniti Group Limited (ASX:UWL) by way of a scheme of arrangement (Scheme) for cash consideration of $5/Uniti share less the value of any dividends or distributions declared or paid after today. The Uniti shares rice is a 58.7%…
Trevor Elbourne appointed CEO of video technology company, Atomos
MELBOURNE, AUSTRALIA: Trevor Elbourne, Atomos’ Chief Technology Officer (CTO), has been appointed interim CEO and is based in the Company’s headquarters in Melbourne. He will shortly launch the Company’s new products that he and his team have been developing since 2020. Atomos Limited (ASX: AMS) providesdan update on changes to its senior leadership team. Estelle…
Heartland long-term ratings affirmed, Outlooks revised
AUCKLAND: Fitch Rating (Fitch) has affirmed the Long-Term Issuer Default Ratings (IDR) of Heartland Group Holdings Limited (NZX/ASX: HGH) (Heartland Group) and Heartland Bank Limited (NZX: HBL) (Heartland Bank) at ‘BBB’, and the Long-Term IDR of Heartland Australia Group Pty Ltd (Heartland Australia) at ‘BBB-‘. (Heartland Group, Heartland Australia and Heartland Bank, together referred to…
Flexiroam signs IoT deal with wearable GPS tracker manufacturer Lutikey
SYDNEY, AUSTRALIA: Flexiroam Limited (ASX:FRX) has signed an agreement to provide IoT connectivity to Lutikey LLC, a US based GPS tracker manufacturer. Company manufactures LutiBand Smartwatches for seniors. Under the agreement, Flexiroam will provide Internet of Things (IoT) connectivity to a minimum of 10,000 LutiBand Smartwatches, for an initial term of 3 years. The minimum…