SYDNEY: PSC Insurance Group has announced the acquisition and completion of Carroll Insurance Group (CIG), a direct and wholesale broking business, operating in the Lloyd’s and London markets. CIG was acquired for £3.4 million (A$6.3 million), excluding net assets; 70% of the consideration is payable in cash on completion (£2.4 million), with the balance after…
Tag: acquisition
Viva acquires further two Healthworks locations in Queensland
QUEENSLAND: Viva Leisure Limited, a leading technology-focused Australian health club owner, has executed a binding sale and purchase agreement for two Healthworks Fitness Centres in Cleveland and Victoria Point, Queensland. The acquisition sees Viva Leisure expand its presence in the Queensland market and comes less than a month after Viva Leisure announced its previous acquisition…
InvoCare acquires Batemans Bay & Moruya District Funerals and Broulee Memorial Gardens
SYDNEY: InvoCare Limited has entered into two separate sales agreements to acquire the business and assets of Batemans Bay & Moruya District Funerals and Broulee Memorial Gardens located on the South Coast of NSW. The proposed acquisition is anticipated to complete by the end of November 2019. Batemans Bay & Moruya District Funerals (BBMDF) operates…
iCar Asia completes acquisition of Carmudi Indonesia
KUALA LAMPUR: iCar Asia Limited, owner of ASEAN’s number 1 network of automotive portals, signed the long form documents and deed of shares transfer for the acquisition of 100% interest in Carmudi Indonesia. With the signing of these documents, the acquisition is deemed completed and iCar Asia will now proceed to the next steps of…
Ithaca completes $2 billion acquisition of Chevron North Sea Limited
LONDON: Ithaca Energy Limited has completed the $2 billion acquisition of Chevron North Sea Limited (CNSL). The transaction provides a material and important step up in the scale and breadth of the Company’s asset base, adding ten additional producing field interests to the existing portfolio, along with a wider portfolio of investment opportunities from which…
Golden Mile acquires 14 prospecting licences from CGM(WA)
SYDNEY: Golden Mile Resources Ltd has signed a Binding Terms Sheet to acquire fourteen (14) granted prospecting licences from CGM(WA) Pty Ltd, a wholly owned subsidiary of Chalice Gold Mines Limited. The acquisition of the Prospecting Licences is subject to satisfactory completion of due diligence. These Prospecting Licences are adjacent to the Company’s existing ground-holdings…
Halfords Group announces acquisition of McConechy’s Tyre Service
LONDON: Halfords Group plc has announced the acquisition of McConechy’s Tyre Service Limited, one of the largest independent garage chains in the UK. The acquired business comprises of 60 sites and 100 vans across Scotland and the North of England, providing tyre fitting and vehicle servicing, maintenance and repair for both retail and commercial vehicles….
Inchcape agrees to acquire Autolider, a distributor of Daimler brands, for £47mn
LONDON: Inchcape plc has agreed to acquire Autolider, a distributor of Daimler brands, for £47 million. The enterprise value of £47 million represents a multiple of c.8.5x on 2018 EBIT. Completion is expected in Q4 and will therefore contribute minimal profit to FY19. Inchcape is the leading independent multi-brand Automotive distributor with global scale, and…
Oatey acquires certain assets of Keeney Manufacturing Company
CLEVELAND–(BUSINESS WIRE)–Oatey Co., a leader in the plumbing industry, has acquired certain assets of The Keeney Manufacturing Company based in Newington, Connecticut. The transaction includes Keeney’s plastic injection molding operation in Winchester, New Hampshire; its distribution facilities in Buford, Georgia and Sparks, Nevada; and the stock of Keeney’s two international subsidiaries, Tubular Industries of Canada…
Ambertech Limited to acquire Audio Visual Division of Hills Limited
SYDNEY, AUSTRALIA: Ambertech Limited has reached an agreement to acquire the Audio Visual (AV) Distribution business of Hills Limited. The acquisition, which is subject to certain conditions and final approval by Ambertech shareholders, is expected to complete in mid December 2019 and includes the Hills AV businesses in Australia and New Zealand. Under the agreement…
South32 sells interest in South Africa Energy Coal
PERTH: South32 Limited has entered into a binding conditional agreement for the sale of 91.835% shareholding in South32 SA Coal Holdings Proprietary Limited (South Africa Energy Coal, SAEC) to a wholly-owned subsidiary of Seriti Resources Holdings Proprietary Limited (Seriti) and two trusts which will acquire and hold equity on behalf of employees and communities. Subject…
Commerzbank publishes voluntary public acquisition offer for comdirect
FRANKFURT: Commerzbank AG published the offer document relating to the voluntary public acquisition offer for all the outstanding shares of comdirect bank Aktiengesellschaft. Commerzbank already holds around 82 percent of the shares in comdirect. The other 18 per cent are in free float. The aim is to merge comdirect into Commerzbank so as to draw…