MELBOURNE: Australian steelmaker BlueScope announced Thursday it has agreed to sell its 50% stake in the Tata BlueScope Steel (TBSL) joint venture to its partner, Tata Steel. The companies formed TBSL in 2005, building it into a leading supplier of coated and painted steel products for India’s building and construction sectors. In a statement, BlueScope…
SYDNEY: Spark New Zealand has agreed to sell a 75% stake in its data center business to Pacific Equity Partners (PEP). The deal values the business at up to $705 million. This sale is intended to provide a funding pathway for Spark’s planned data center development pipeline of over 130MW+. Spark will retain a 25%…
Apple’s shipments of iPhones from India to the U.S. surged 76% year-on-year in April, reaching around 3 million units, while shipments from China plummeted 76% to 900,000. According to Omdia, this shift reflects Apple’s aggressive adaptation to U.S. tariffs on Chinese goods. Research manager Le Xuan Chiew noted that Apple’s India expansion began during the…
LONDON: CloudCoCo, a leading UK provider of managed IT services and communications solutions, has entered into a Share Purchase Agreement to sell the entire issued share capital of CloudCoCo Limited to Aspire Technology Solutions Ltd, for gross cash consideration of up to c.£9.2 million. CloudCoCo Limited is the Group’s IT managed services business. Proceeds from…
NEW YORK: A consortium led by Mason Capital Management LLC in partnership with IES Holdings Inc. (Nasdaq: IESC), and other investors, has entered into a definitive agreement to acquire the CB&I storage solutions business, the world’s foremost designer and builder of storage facilities, tanks and terminals for energy and industrial markets, from McDermott International. CB&I…
SYDNEY: Lendlease Corporation has entered into an agreement with Omaha Beach Investment Holdings, LLC, an entity managed by Guggenheim Partners Investment Management, LLC, for the sale of its US Military Housing business for $480 (US$320) million. The sale represents a significant premium to book value and includes the operating platform of the business along with…
NASHVILLE: Payroc WorldAccess LLC, a leading omni-channel payments provider, has entered into a definitive agreement to acquire i3 Verticals Inc’s (NASDAQ: IIIV) merchant of record payments business, including its associated proprietary technology, in an all-cash transaction for $440 million, subject to certain purchase price adjustments. Greg Daily, Chairman and CEO of i3 Verticals stated, “i3…
BowFlex Inc., a leading home fitness company, has agreed to sell most of its assets to Johnson Health Tech Retail, Inc. for $37.5 million in cash, as part of its Chapter 11 bankruptcy process. The company filed for bankruptcy protection in New Jersey on Saturday, citing the post-pandemic environment and persistent macroeconomic headwinds. It has…
DUBAI: TECOM Group, the creator of specialised business districts and vibrant communities in Dubai, has announced its best-ever financial and operational performance for the year 2023, along with a cash dividend of AED 800 million for its shareholders. The Group held its Annual General Assembly Meeting at Dubai Internet City, where it approved the financial…
LONDON: Klimat X Developments Inc. (TSXV: KLX), a carbon project developer, has announced a name change to Carbon Done Right and a partnership with a tech-enabled platform that will enhance its carbon credit generation and distribution. The company, which operates in West Africa, will use the Carbon Quantification System (CQS™) developed by its partner, also…
Arkhouse Management Co. LP and Brigade Capital Management have increased their all-cash offer to buy Macy’s for $24 per share, a 51.3% premium over the retailer’s share price before their initial bid in December 2023. The buyer group, which also includes Fortress Investment Group LLC and One Investment Management US as equity partners, urged Macy’s…
Ransa, the leading third-party logistics (3PL) player in Latin America, has acquired Loginsa, a Chilean 3PL company specialized in cold and dry storage, distribution, and customized logistics. The deal, backed by H.I.G. Capital, a global alternative investment firm, strengthens Ransa’s footprint across the entire Pacific Coast of Latin America, spanning 12 countries from Mexico to…