MOSCOW: NOVATEK’s joint venture Cryogas-Vysotsk signed a power purchase agreement for renewable electricity produced by the European energy company Fortum in Russia. The Agreement builds on the cooperation of NOVATEK and Fortum under the Memorandum of Understanding that the Parties signed at the Saint-Petersburg International Economic Forum in June 2021. According to the Agreement, the…
Ultra and Mahindra win £60 million contract with Indian Navy
LONDON, UK: Ultra Electronics in partnership with Mahindra Defence Systems Limited, won the Integrated Anti-Submarine Warfare Defence Suite (IADS) programme for selected frontline warships of the Indian Navy. The contract is worth approximately £60 million to Ultra. Deliveries are due to commence in 2024 and to be completed by 2030. IADS provides a powerful multi-sensor…
Haydale gets SMARTCymru grant to develop anti-counterfeiting technology
LONDON, UK: Haydale Graphene Industries has been awarded a SMARTCymru grant from The Welsh Government that will enable the Ammanford-based company to progress with the development of its anti-counterfeiting ink technology, PATit. The has a total cost of £169,000 and is expected to take six months to complete. The SMARTCymru grant, which is part-funded by…
Kinovo sells construction division, DCB for £5.0 million
LONDON, UK: Kinovo Plc has entered into an agreement to sell the company’s non-core construction division, DCB (Kent) Limited, for a total deferred consideration of up to £5.0 million. The construction division has been acquired by MCG Global Limited on the following terms, consisting of four constituent elements: · Firstly, up to £1.9 million will…
Schroder invests in renewed electronics marketplace, Back Market
LONDON, UK: Schroder UK Public Private Trust has made a €12.0 million investment in leading renewed electronics marketplace, Back Market (incorporated as Jung S.A.S.), as part of its $510 million Series E funding round. The round was led by Sprints Capital, together with Eurazeo Growth, Aglaé Ventures, General Atlantic, and Generation Investment Management. The Company…
Eidesvik Neptun signs deal for sale of the CSV Viking Neptun
BØMLO, NORWAY: Eidesvik Neptun AS, a subsidiary of Eidesvik Offshore ASA has entered into a Memorandum of Agreement (MoA) with Dredging, Environmental and Marine Engineering NV (DEME) for the sale of the CSV Viking Neptun. The MoA is expected to complete in the 4th Quarter of 2022, post completion of the ongoing contract with Havfram….
Helical Plc announces intention to convert to a REIT
LONDON, UK: Helical plc, a UK real estate investment company, announced its intention to convert to a REIT with effect from 1 April 2022. As part of this process, Helical will notify Her Majesty’s Revenue & Customs of the Company’s intention to convert into a REIT and will seek Helical shareholder approval to replace its…
Bunzl Plc acquires Tingley Rubber Corporation
LONDON, UK: Bunzl plc, the specialist international distribution and services group, has acquired Tingley Rubber Corporation, a distributor of own brand PPE based in New Jersey, US. The business is focused on protective footwear and apparel and has a strong product portfolio. Tingley generated revenue in 2021 of $68 million (c. £49 million). Commenting on…
Aega ASA purchases two solar parks in Italy
OSLO, NORWAY: Aega ASA has signed a mutually binding offer for the acquisition of two solar parks in Italy with a total capacity of 1.33 MW. Reference is made to the stock exchange announcement dated 15 November 2021 when Aega announced that it had made a non-binding offer for the two solar parks. Following a…
Stealth Global Holdings acquires United Tools Limited
SYDNEY, AUSTRALIA: Stealth Global Holdings is expanding its Australian retail footprint, buying power, and market position, through the acquisition of United Tools Limited (UTL) for $24,000 cash plus a deferred market subsidy of $1.25 million over two years. United Tools is one of Australia’s largest buying & distribution co-operatives of independent retailers, selling tools, industrial…
What Retirement Means And Why You Should Prepare For It
The world is advancing technologically at a rate that is hard to keep up with, and oftentimes it can be difficult to determine what the consequences of these advancements will be. In terms of retirement, much ado has been made about when exactly people should stop working. Some claim that this nation’s citizens are retiring…
Twitter buys minority stake in Aleph
NEW YORK: Twitter Inc. has acquired a minority stake in Aleph Group Inc. Aleph did not reveal any financial terms of the investment but said Twitter’s stake buy would help the company expand its educational tech platform. Emerging markets-focused Aleph, which helps large digital platforms connect with advertisers and customers, counts Meta Platforms Inc (FB.O) Spotify…