LONDON, UK: Braemar Shipping Services has completed the planned disposal of its Logistics Division, Cory Brothers to Vertom Cory Holdings Ltd for a total of between £10.25m and £15.5m spread over three earnout periods ending on 31 December 2024. The all-cash consideration comprises initial cash proceeds of £6.5 million, together with three further payments based…
K3 Capital Group has acquired JE Consulting
LONDON, UK: K3 Capital Group, a multi-disciplinary professional services firm providing advisory services to SMEs, announced the acquisition of Professional Insight Marketing Ltd which trades as JE Consulting. JE Consulting is a full service marketing agency specialising in digital and creative services to SMEs operating in the accountancy, legal and healthcare markets. Established in 1998…
CapVest tables improved proposal to acquire Virtus Health
SYDNEY, AUSTRALIA: Virtus Health Limited (ASX: VRT) has received a revised non-binding, conditional and indicative proposal from CapVest Partners LLP to acquire all of Virtus’ shares by way of scheme of arrangement offering $7.80 cash per share. CapVest has also indicated it is willing to proceed with an alternative structure which only requires acceptance by…
PNX Metals to divest Moline Project for up to $3 million
SYDNEY, AUSTRALIA: PNX Metals Limited (ASX: PNX) has agreed to divest the Moline project in the Northern Territory to Sovereign Metallurgical Pty Ltd for a total consideration of up to $3.0 million, plus refund the existing tenement bond of approximately $300,000. The Moline project is located approximately 65km east of the Company’s Fountain Head and…
NORBIT to acquire international maritime technology company for $3.6mn
TRONDHEIM, NORWAY: NORBIT ASA is in exclusive negotiations regarding an add-on acquisition of an undisclosed international maritime technology company. The acquisition will broaden the product offering in the Oceans segment. NORBIT has signed a term sheet to this effect. “With the target company having developed a proprietary sonar technology, complementary to NORBIT’s current portfolio, this…
Shelf Drilling awarded new contract in Nigeria
DUBAI, UAE: Shelf Drilling Ltd. has secured a new contract award for the Shelf Drilling Mentor jack-up rig for operations offshore Nigeria. The contract has an estimated duration of 225 days with an option for additional wells. The contract is expected to commence in Q2 2022. Shelf Drilling is a leading international shallow water offshore…
Michelle Hinchliffe joins Macquarie Group and Macquarie Bank Boards
SYDNEY, AUSTRALIA: Macquarie Group and Macquarie Bank Chairman, Peter Warne, announced the appointment of Michelle Hinchliffe to the Macquarie Group Limited (ASX: MQG) and Macquarie Bank Limited (ASX: MBL) Boards as an independent director. She has also become a member of Macquarie’s Board Audit, Board Risk and Board Nominating Committees. Ms Hinchliffe has extensive experience…
AD Ports Group to establish Metal Park in KIZAD
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…