They say that cash is king, but consumers don’t seem to use it anymore to pay for goods and services. More than 80% of American consumers used contactless payments in 2021. Contactless payments aren’t just trending in the United States, either. The contactless payment market is going to quadruple globally over the next four years….
Babcock to sell part of its aerial emergency services business for €136.2mn
LONDON, UK: Babcock International Group has entered into an agreement with funds managed by Ancala Partners, a mid-market infrastructure investor, for the sale of certain of its aerial emergency services businesses for a gross cash consideration of €136.2 million (which equates to around £115 million), subject to closing adjustments and before transaction costs. These businesses…
Infinity Group and AFC buy Lekela Power at an enterprise value of $1.5bn
OSLO, NORWAY: Mainstream Renewable Power and Actis have signed an agreement to sell Lekela Power, Africa’s largest pure-play renewable energy independent power producer, to Infinity Group and Africa Finance Corporation (AFC). This planned exit reflects the successful culmination of Mainstream and Actis’ partnership strategy for Lekela, with the platform consisting of a leading management team,…
Johnson Matthey building £80mn hydrogen fuel cell gigafactory in UK
LONDON, UK: Johnson Matthey (JM), a global leader in sustainable technologies, is building an £80 million gigafactory at its existing site in Royston, UK, to scale up the manufacture of hydrogen fuel cell components. Earlier this year, JM announced a refreshed strategy, with an ambition to be the “market leader in performance components for fuel…
Atrato Onsite Energy acquires Hylton Plantation Solar Farm Limited
LONDON, UK: Atrato Onsite Energy, the renewables investment trust focusing on UK commercial onsite energy, has acquired 100% of the shares of Hylton Plantation Solar Farm Limited, a company set up to develop a 20MWp solar PV system for Nissan Motor Manufacturing UK Limited. The £10.6m transaction sees the Company take on the ownership of…
WPP is acquiring Latin American ecommerce agency, Corebiz
LONDON, UK: WPP Plc is acquiring Corebiz, a leading Latin American ecommerce agency specialising in VTEX implementation, one of the largest enterprise digital commerce platforms in the region, a statement noted. Founded in 2013, Corebiz employs over 600 people across Latin America, with the majority of its headcount based in its São Paulo and Franca…
GSTechnologies announces disposal of EMS Wiring Systems
LONDON, UK: GSTechnologies Limited (LSE: GST), the fintech and information technology solutions company, entered into a binding agreement to sell its subsidiary, EMS Wiring Systems Pte. Ltd, to Teo Chiah Chiu Raphael, the Chairman of EMS. Highlights · Disposal of EMS Wiring Systems to a member of its management team · Consideration for the Disposal comprises the…
HICL to buy 40% equity interest in Aotearoa Towers
LONDON, UK: HICL Infrastructure Plc has exchanged contracts to acquire a 40% equity interest in Aotearoa Towers Limited, a passive mobile tower infrastructure owner, from Vodafone New Zealand Limited. Following completion of the transaction, Aotearoa Towers will represent approximately 7% of HICL’s portfolio, by value and is expected to take HICL’s portfolio weighting in digital…
ANZ signs deal to acquire Suncorp Bank for $4.9 billion
SYDNEY, AUSTRALIA: ANZ announced an agreement to acquire Suncorp Bank from Suncorp Group Limited, accelerating the growth of its retail and commercial businesses while also improving the geographic balance of its business in Australia. The purchase price is $4.9 billion, a statement said. Suncorp Bank will continue to be led by CEO Clive van Horen…
Sanctuary Group issues a tap of £150 million
LONDON, UK: Sanctuary Group has issued a £150m tap of its existing 2.375% secured bonds due 2050, a statement said. Successfully navigating the current volatile market backdrop, the tap issuance attracted a broad number of investors, with a final orderbook that was over 5x subscribed. The deal priced below the Group’s existing cost of capital,…
Green Fuels for Denmark receives IPCEI status
COPENHAGEN, DENMARK: Last year, the Danish government shortlisted Green Fuels for Denmark as one of two Danish Power-to-X projects eligible for public funding, provided that the European Commission recognises it as an Important Project of Common European Interest (IPCEI), contributing to sustainable economic growth, job creation and the competitiveness of the EU economy. Today, the…
Yara, ACME and Scatec sign term sheet for sale of green ammonia from Oman
GENEVA: ACME group, Scatec ASA and Yara International have signed a term sheet for offtake from the first phase of green ammonia from Oman. Oman has excellent conditions for renewable energy and a strategic location to produce green ammonia for export to both Europe and Asia, which are the pacesetters in reducing CO2-emissions. ACME and…