LONDON, UK: Avation Plc, the commercial passenger aircraft leasing company, advised that its customer Philippine Airlines Ltd (PAL) has exited bankruptcy and has received court approval for its restructuring plan which was effective 31 December 2021. Pursuant to an agreement with Avation, PAL has retained a Boeing 777-300ER aircraft on lease from Avation in accordance…
Rolls-Royce completes sale of Bergen Engines
LONDON, UK: Rolls-Royce announced the completion of the sale of our Bergen Engines business to Langley Holdings plc for an enterprise value of €63 million. The completion of the transaction, which was announced on 3 August 2021, follows the conclusion of work to separate the business from the Group. Sale proceeds of €91m from the…
Foresight Solar Fund buys stake in Australian solar farms
LONDON, UK: Foresight Solar Fund Limited, a fund investing in a diversified portfolio of ground-based solar PV and battery storage assets in the UK and internationally, has acquired the remaining 51% interests in the Oakey 1 (30 MW) and Longreach (17 MW) solar farms in Queensland, Australia. The Company had acquired a 49% stake in…
Quadrise Fuels appoints Philip Hill as Chief Operating Officer
LONDON, UK: Quadrise Fuels International has appointed Philip Hill as Chief Operating Officer. Philip is a Chartered Chemical Engineer with over 20 years of experience in fuels and chemicals manufacturing, sales and distribution for BP and INEOS. He has significant technical and commercial experience in production operations, technology licensing, asset optimisation, project development and strategic…
Salarius completes oversubscribed crowdfund
LONDON, UK: Tekcapital Plc announced that Salarius’ U.S. subsidiary MicroSalt Inc has completed an oversubscribed Reg CF Crowdfund, having achieved its goal of $750,000. Salarius, is the developer and manufacturer of a proprietary low-sodium salt called MicroSalt®. We are passionate about improving people’s lives by providing the best low-sodium salt. MicroSalt, Inc., Salarius’ U.S. operating…
SigmaRoc acquires Johnston Quarry Group for £35.5mn
LONDON, UK: SigmaRoc plc has acquired Johnston Quarry Group Limited (JQG) and Guiting Quarry Limited for an initial cash consideration of £35.5 million from Nicholas Johnston, Giantflow Limited and Flowgiant Limited. JQG is a specialist quarried materials supplier producing construction aggregates and premium quality building stone, as well as agricultural lime for soil improvement. Its…
MTI agrees to acquire PSK for $1.2mn
LONDON, UK: MTI Wireless Edge Ltd subsidiary MTI Summit Electronics has entered into a share purchase agreement, which includes both a purchase of existing shares in and the making of a new equity investment into PSK, after which MTI Summit will own 51% of PSK. The initial consideration for the acquisition is approximately US$1.2 million,…
The Reflex Group buys Macfarlane Labels for £6.4mn
LONDON, UK: Macfarlane Group has sold Macfarlane Labels Limited and its subsidiaries, Macfarlane Group Ireland (Labels & Packaging) Limited and Macfarlane Group Sweden AB (collectively Macfarlane Labels) which was completed on 31 December 2021. Macfarlane Labels designs and prints high quality self-adhesive and resealable labels, principally for FMCG companies. Macfarlane Labels is being acquired by…
Twitter sells MoPub to AppLovin for $1.05bn
NEW YORK: Twitter has completed the sale of its mobile ad platform, MoPub, to the mobile game maker and marketing software provider AppLovin for $1.05 billion in cash. The deal was first announced in October 2021, following Twitter’s reveal of its plan to double its revenue by 2023 to reach $7.5 billion or more. While…
CGG sells its data storage and services business
PARIS, FRANCE: CGG S.A. has closed the sale of the physical storage assets and associated services of its Smart Data Solutions business to OASIS Group and Access Information Management Corporation. The transaction includes seven dedicated storage and service facilities, each holding client collections of records and subsurface rock and fluid samples. Access has acquired the…
Worldline SA has acquired Axepta Italy
PARIS, FRANCE: Worldline SA, a leader in the payments industry, has acquired Axepta Italy, as part of its European consolidation strategy. The acquisition of 80% of Axepta Italy, a significant bank acquirer in the country, and the set-up of a strategic partnership with BNL in Merchant Services in Italy are part of Worldline’s strategy to…
Fabrizio Jorge appointed CEO of Beston Global Food
SYDNEY, AUSTRALIA: Beston Global Food Company Limited announced the appointment of Mr Fabrizio Jorge as Chief Executive Officer of the Company. Fabrizio is a highly credentialed senior executive with 25 years of global experience in the foodand beverage industry and particularly in dairy products, across Latin America, Europe, Africa,the Middle East, Asia, Australia and New…