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%…
Mercia announces further direct investment into MIP Diagnostics
LONDON, UK: Mercia Asset Management (AIM: MERC) announced completion of a second tranche investment round of £4.3 million into existing direct investment portfolio company, MIP Diagnostics Limited, a UK-based nanotechnology business. As part of this round Mercia invested £1.1million from its own balance sheet, alongside existing syndicate investors including the Business Growth Fund, Downing Ventures…
Russia’s attack on Ukraine: bp will exit its shareholding in Rosneft
LONDON, UK: The bp board announced that bp will exit its shareholding in Rosneft. bp has held a 19.75% shareholding in Rosneft since 2013. Additionally, bp chief executive officer Bernard Looney is resigning from the board of Rosneft with immediate effect. The other Rosneft director nominated by bp, former bp group chief executive Bob Dudley,…
KEFI Gold and Copper continues with rapid progress in Saudi Arabia
LONDON, UK: KEFI Gold and Copper (AIM: KEFI), the gold and copper exploration and development company with projects in the Federal Democratic Republic of Ethiopia and the Kingdom of Saudi Arabia, announced that exploration and development studies at the KEFI-operated Gold & Minerals Limited (“G&M”) Hawiah Copper-Gold Project (“Hawiah”) and the contiguous Al Godeyer Exploration…
Infrastructure India to sell Indian Energy (Mauritius) Limited
LONDON, UK: Infrastructure India plc (IIP) has signed an agreement for the conditional sale of Indian Energy (Mauritius) Limited’s (IEL) assets. IEL, which is a wholly owned subsidiary of IIP, is an independent power producer that owns and operates wind farms at two sites in the states of Karnataka and Tamil Nadu, with 41.3MW of…
Chariot Limited awarded the Rissana Offshore Licence in Morocco
LONDON, UK: Chariot Limited (AIM: CHAR), the Africa focused transitional energy company, has been formally awarded the Rissana Offshore Licence in Morocco. Mrs Amina Benkhadra, General Director Office National des Hydrocarbures et des Mines, commented: “We are pleased to formally award Chariot the Rissana licence, offshore Morocco. ONHYM and Chariot recently conducted a highly successful…
The MISSION Group acquires youth focused creative business, Livity
LONDON, UK: The MISSION Group plc (AIM: TMG) announced the acquisition of Livity ltd, the youth focused creative business for a consideration of £0.1 million, to be satisfied in cash. Based in Brixton, South London but working globally for its clients, Livity is the market leader in its space with over 20 years’ experience. It…
BEWI to acquire Scandinavian paper packaging company
OSLO, NORWAY: BEWI, a leading provider of packaging, components, and insulation solutions, announced that the company has entered a letter of intent to acquire 100 per cent of a leading Scandinavian paper packaging company. The target company is mainly manufacturing fibre-based packaging products, with an annual revenue in the range of EUR 12 to 14…
GXO Logistics agrees to acquire Clipper Logistics in a £965mn deal
LONDON, UK: The boards of directors of GXO Logistics Inc. (GXO) and Clipper Logistics plc have reached agreement on the terms of a recommended cash and share acquisition by which the entire issued and to be issued ordinary share capital of Clipper will be acquired by GXO. Based on the Agreed Value of a GXO…
AssetCo to acquire Revera Asset Management for £2.8mn
LONDON, UK: AssetCo Plc, the agile asset and wealth management company, has reached agreement to acquire the entire issued share capital of Revera Asset Management Limited for an effective total consideration of £2.8 million. The Consideration will be satisfied by the issue of 54,639 new ordinary shares of 10p each in the Company, fully paid…