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…
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%…