CAIRO, EGYPT: Telecom Egypt, Egypt’s first integrated telecom operator and one of the largest subsea cables operators in the region, is extending its reach through the Southeast Asia-Middle East-Western Europe 6 (SEA-ME-WE 6) subsea cable, as part of the cable’s consortium. The new cable will cross Egypt over the company’s distinctive infrastructure through trans-Egypt’s new geo…
Just Group sold lifetime mortgages to Rothesay Life for £687mn
LONDON, UK: Just Group has completed the sale of a portfolio of lifetime mortgages (LTM) to Rothesay Life Plc, with a current outstanding loan balance of £537m and an IFRS value as at 31 December 2021 of £772m. The lifetime mortgages (LTM) assets being sold form part of the investments used to back the insurance…
South32 buys 45% stake in Sierra Gorda copper mine for $1.9bn
LONDON, UK: South32 Limited has acquired a 45% interest in the Sierra Gorda copper mine from Sumitomo Metal Mining and Sumitomo Corporation (collectively Sumitomo). The final purchase price includes a US$1.4bn upfront cash payment plus a contingent price-linked consideration component of up to US$500mn, payable at threshold copper production rates and prices in the years 2022-25….
Savannah Energy signs with gas sales agreement Central Horizon
LONDON, UK: Savannah Energy PLC, the British independent energy company focused announced that its Accugas subsidiary has entered into a new gas sales agreement (GSA) with the Central Horizon Gas Company (CHGC), a subsidiary of Axxela Limited, and a major gas distribution company situated in the South-South region of Nigeria. CHGC operates a 17km gas pipeline…
Halma Plc acquires US-based ILT for $26.6mn
LONDON, UK: Halma Plc, the global group of life-saving technology companies, has acquired International Light Technologies (ILT) for its Environmental & Analysis sector business, Ocean Insight. The consideration for ILT is US$26.6m (approximately £19.5m) on a cash and debt free basis, which is payable in cash and funded from Halma’s existing facilities. International Light Technologies…
Agronomics acquires stake in Geltor Inc.
LONDON, UK: Agronomics, the leading listed company focused on cellular agriculture, has acquired 1.069 million preferred stock in a secondary transaction in Geltor Inc., company focused on producing designer proteins for use in the cosmetic industry, from an existing shareholder, for total consideration of US$ 9.49 million. This represents an equity stake in Geltor, on…
Brad Welsh appointed MD & CEO of Energy Resources of Australia
SYDNEY, AUSTRALIA: Energy Resources of Australia (ERA) announced the appointment of Mr Brad Welsh as Managing Director and Chief Executive, effective 18 February 2022. ERA announced on 4 October 2021 that Mr Welsh (a secondee from Rio Tinto) had assumed the role of Acting Chief Executive. He will now become Managing Director and Chief Executive…
Dicker Data to acquire SIT Division of Hills Limited
SYDNEY, AUSTRALIA: Dicker Data Limited (ASX: DDR) entered into a conditional business sale agreement (BSA) to acquire the Security and Information Technology (SIT) distribution division of Hills Limited (ASX: HIL) in Australia. The price is estimated to be in the range of $20 million. Dicker Data and the Hills SIT division share only three mutual…
Gulf International Bank is gold sponsor of the GTR MENA 2022 Conference
MANAMA, BAHRAIN: Gulf International Bank (GIB) was Gold Sponsor of the GTR MENA 2022 conference held in Dubai on 15-16 February 2022. Organised by Global Trade Review and running for nearly 20 years, it is the region’s well-established trade and export finance conference. The exclusive two-day gathering brought together key industry players and companies involved…
Mistakes That You Need to Avoid When Investing in Stocks
As with most things in life, the more you learn the more mistakes that you will also know about. This is no different when it comes to investing. As a new trader, there are many mistakes that you can make that may cause your portfolio to lose money and ultimately harm your overall financial situation….
Top Tips That Will Help You Get Out Of Debt
At times, our lives become so stressful and filled with various tasks and obligations that we frequently forget about some other things that can potentially cause serious problems. We’re referring to the debts. It seems like they have a way of piling up much faster than any of us has planned. And dealing with debts…
BEWI announces intention to acquire Baltic insulation company
OSLO, NORWAY: BEWI, a leading provider of packaging, components, and insulation solutions, has entered a letter of intent to acquire 100 per cent of a Baltic insulation company. The Baltic company operates facilities for manufacturing of insulation solutions and has recorded profitable growth recent years, with net sales in the range of EUR 25 to…