ABU DHABI, UAE: AD Ports Group signed an agreement with Metal Park Investment ME LTD to establish an integrated metal hub in KIZAD that will cater to all industry verticals and offer flexibilities of scale to metal vendors, processors, and fabricators in the UAE. Covering a total land area of 450,000 sqm, the future upcoming…
CBA to sell 10% shareholding in Bank of Hangzhou for $1.8bn
SYDNEY, AUSTRALIA: Commonwealth Bank of Australia (CBA) has entered into a binding sale agreement to sell a shareholding of 10% in Bank of Hangzhou (HZB) to Hangzhou Urban Construction & Investment Group and Hangzhou Communications Investment Group, which are entities majority-owned by the Hangzhou Municipal Government. Total gross proceeds expected to be received by Commonwealth…
Mutares sells Austrian logistics subsidiary BEXity to Raben Group
MUNICH: Mutares SE & Co. has sold its Austrian logistics subsidiary BEXity to Raben Group, one of Europe’s largest logistics companies based in the Netherlands. BEXity is a leading logistics company in Austria and was acquired from Österreichische Bundesbahnen-Holding Aktiengesellschaft (ÖBB) in 2019. The company’s offering includes cross-border transport logistics in the general cargo and…
Spectris plc confirms £31/share offer to acquire Oxford Instruments
LONDON, UK: Spectris plc has confirmed that it is in discussions with Oxford Instruments regarding a potential acquisition of the entire issued and to be issued share capital of Oxford Instruments at the possible offer of £31 per Oxford Instruments share through a combination of cash and new Spectris shares, comprising £19.50 in cash; and…
Shell intends to exit equity partnerships held with Gazprom entities
LONDON, UK: The Board of Shell plc Monday announced its intention to exit its joint ventures with Gazprom and related entities, including its 27.5 percent stake in the Sakhalin-II liquefied natural gas facility, its 50 percent stake in the Salym Petroleum Development and the Gydan energy venture. Shell also intends to end its involvement in…
Tata Steel acquires CPL to produce medical materials
LONDON, UK: Tata Steel Advanced Materials Limited (TSAML), an indirect wholly owned subsidiary of Tata Steel Limited, has executed a Share Purchase cum Shareholders’ Agreement for acquisition of 90% equity stake in Ceramat Private Limited (CPL). Tata Steel Limited aspires to setup a world class facility to produce medical materials and use CPL as a…
Fatima Group inks $1 billion deals with global agriculture giants at Expo Dubai
LAHORE, PAKISTAN: Fatima Group, one of the fastest-growing industrial conglomerates in Pakistan, has signed two MoUs of over USD1 billion with two key global agriculture stakeholders – China Machinery Engineering Company (CMEC) from China and Sarh Attaqnia Co. (SAC) from the Kingdom of Saudi Arabia. A formal signing of the business partnership was held at…
GSK to spinout Consumer Healthcare business into new company, Haleon
LONDON, UK: GSK has announced plans to spinout Consumer Healthcare business into the newly independent company, Haleon proposed to be listed on London Stock Exchange (LSE) in July 2022. The separation of GSK Consumer Healthcare, to form Haleon, is subject to approval from shareholders, and will be by way of a demerger of at least 80% of GSK’s 68%…
Mercia announces further direct investment into MIP Diagnostics
LONDON, UK: Mercia Asset Management (AIM: MERC) announced completion of a second tranche investment round of £4.3 million into existing direct investment portfolio company, MIP Diagnostics Limited, a UK-based nanotechnology business. As part of this round Mercia invested £1.1million from its own balance sheet, alongside existing syndicate investors including the Business Growth Fund, Downing Ventures…
Russia’s attack on Ukraine: bp will exit its shareholding in Rosneft
LONDON, UK: The bp board announced that bp will exit its shareholding in Rosneft. bp has held a 19.75% shareholding in Rosneft since 2013. Additionally, bp chief executive officer Bernard Looney is resigning from the board of Rosneft with immediate effect. The other Rosneft director nominated by bp, former bp group chief executive Bob Dudley,…
KEFI Gold and Copper continues with rapid progress in Saudi Arabia
LONDON, UK: KEFI Gold and Copper (AIM: KEFI), the gold and copper exploration and development company with projects in the Federal Democratic Republic of Ethiopia and the Kingdom of Saudi Arabia, announced that exploration and development studies at the KEFI-operated Gold & Minerals Limited (“G&M”) Hawiah Copper-Gold Project (“Hawiah”) and the contiguous Al Godeyer Exploration…
Infrastructure India to sell Indian Energy (Mauritius) Limited
LONDON, UK: Infrastructure India plc (IIP) has signed an agreement for the conditional sale of Indian Energy (Mauritius) Limited’s (IEL) assets. IEL, which is a wholly owned subsidiary of IIP, is an independent power producer that owns and operates wind farms at two sites in the states of Karnataka and Tamil Nadu, with 41.3MW of…