LONDON: Liontrust Asset Management Plc, the specialist independent fund management group, has entered into a conditional share purchase agreement with the significant shareholders of Neptune Investment Management Limited to purchase the entire issued share capital of Neptune Investment Management Limited for a total consideration of up to £40 million. The proposed acquisition includes the highly…
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Vodafone Group completes sale of Vodafone New Zealand
LONDON: Vodafone Group Plc has completed the sale of 100% of Vodafone New Zealand Limited (VFNZ) to a consortium comprising Infratil Limited and Brookfield Asset Management Inc. for a cash consideration equivalent to an Enterprise Value of NZ $3.4 billion (€2.1 billion). Vodafone and VFNZ have now entered into a Partner Market agreement, which includes…
Synagie signs agreement with Amer Sports to manage its e-commerce platforms
SINGAPORE: Synagie Corporation Ltd., Southeast Asia’s leading e-commerce enabler that assists brands to execute their e-commerce strategies using its cloud-based platform, has signed an agreement with Amer Sports Malaysia to manage its e-commerce platforms business in Southeast Asia. Amer Sports Malaysia Sdn Bhd is a subsidiary of NASDAQ Helsinki listed Amer Sports Corporation, a leading…
Woqod and Al Meera to enter into an agreement to manage and operate Woqod convenience stores
DOHA: Qatar Fuel Company (WOQOD) and Al Meera Consumer Goods Company (AL MEERA) announced that they had signed a memorandum of understanding wherein WOQOD and AL MEERA will enter into an agreement to operate and manage current and prospective WOQOD’s Sidra Convenience Stores, currently aggregating 65 C-stores’ outlets. Both parties have agreed to exert their…
Beximco Pharma launches fifth product in the US market
LONDON: Beximco Pharmaceuticals Limited, the fast-growing manufacturer of generic pharmaceutical products and active pharmaceutical ingredients, has commenced export of a blood pressure drug, Nadolol, to the US market. Nadolol tablets (20mg, 40mg and 80mg) are the generic equivalent of Bristol-Myers Squibb’s Corgard tablets for treating hypertension and angina pectoris (chest pain). This is Beximco’s fifth…
Giffgaff fined £1.4 million for overcharging customers
LONDON, UK: Ofcom has fined the mobile company Giffgaff £1.4 million, for overcharging millions of customers. The fine follows an Ofcom investigation, which found that an error in Giffgaff’s billing system led to around 2.6 million customers being overcharged up to a total of almost £2.9 million. Giffgaff is owned by Telefónica UK, which trades…
Gateley announces acquisition of Persona Associates
LONDON: Gateley Holdings Plc, the legal and professional services group, is pleased to announce the acquisition of Persona Associates Limited. Persona is one of the UK’s longest-established and leading land referencing consultancies, advising on some of the UK’s largest infrastructure and regeneration projects. Persona provides expertise on statutory processes relating to long-term infrastructure projects involving…
Polymetal to exchange convertible notes into shares of Chaarat
LONDON: Chaarat Gold Holdings, the gold mining company with assets in the Kyrgyz Republic and Armenia, announced that following discussions related to the acquisition of the Kapan mine acquired in January 2019 from Polymetal International Plc, Polymetal has agreed to exchange its US$10 million of Convertible Notes received as part of original consideration, and a…
Attock Petroleum Limited records 30% decline in profits
KARACHI: Attock Petroleum Limited (APL) unveiled its FY19 financial results with profit after tax at PKR3.96 billion (EPS PKR39.79) versus PKR5.66 billion (EPS PKR56.83) recorded last year, down 30%YoY. Earnings of the company arrived above expectation owing to higher than estimated gross level margins in 4QFY19 likely on the back of inventory gains booked by…
Pakistan Oilfields posts 48% growth in profits
KARACHI: Pakistan Oilfields Limited (POL) unveiled its FY19 profit after tax at PKR16.87 billion (EPS PKR59.44) versus PKR11.38 billion (EPS PKR40.10) registered during last year, depicting a notable increase of 48%YoY. Net earnings of the company arrived above estimates primarily due to lower than estimated exploration expenses (-31%YoY) & higher than anticipated other income (+120%YoY).…
Hamish Paton appointed CEO of Amigo Holdings
LONDON: Amigo Holdings PLC, the leading provider of guarantor loans in the UK, confirms Hamish Paton has been appointed as CEO and executive director of the Company with immediate effect, following FCA authorisation. Following the above change the total number of Directors will consist of four independent Non-Executive Directors, including the Chairman and two as…
Future Plc acquires SmartBrief for $45 million
LONDON, UK: The Board of Future plc, the global platform for specialist media, announced the acquisition of SmartBrief Inc., a leading US based digital media publisher, for an initial sum of $45 million. The initial $45 million will include a cash consideration of $32.2 million funded from the Group’s existing debt facilities, with a further…