LONDON: South32 Limited, a diversified mining company, has announced that it has agreed to sell its Illawarra Metallurgical Coal business in Australia to a consortium of Golden Energy and Resources Pte Ltd (GEAR) and M Resources Pty Ltd (M Resources) for up to US$1.65 billion. The deal, which is expected to close in the first…
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CVC Asis Pacific raises offer for APM to $2.00 per share
SYDNEY: CVC Asia Pacific Limited (CVC) has increased its offer for APM Human Services International Limited (APM) to $2.00 cash per share, up from $1.60, in a bid to acquire the human services provider by way of a scheme of arrangement. APM’s board has agreed to grant CVC a four-week period of exclusivity to 27…
Peugeot Invest exits Groupe SEB with €236 million deal
PARIS, FRANCE: Peugeot Invest has sold its entire stake in Groupe SEB, a French manufacturer of small appliances, for €236 million. The deal was done through a private placement to institutional investors at €106 per share, a financial news announcement noted. Peugeot Invest, an investment company majority-owned by Etablissements Peugeot Frères, had invested in Groupe…
On the Beach and Ryanair sign a long-term partnership deal
LONDON: On the Beach Group plc, a leading online travel agency, has announced a long-term distribution agreement with Ryanair Holdings, Europe’s largest low cost carrier. The deal will allow On the Beach customers to book Ryanair flights as part of their holiday packages with full price transparency and ATOL protection. The deal also resolves the…
Driscoll’s acquires significant stake in Costa Group
Driscoll’s, the global leader of fresh berries, has become a critical strategic partner in a consortium that has acquired Costa Group, Australia’s largest grower, packer and marketer of fresh fruit and vegetables. The consortium, led by Paine Schwartz Partners and including British Columbia Investment Management Corporation, has completed the purchase of Costa, which has a…
Summerset Group posts record profit and growth despite challenges
SYDNEY: Summerset Group Holdings Limited, a leading retirement village operator in New Zealand and Australia, announced a record underlying profit of NZ$190.3 million for 2023, up 11.0% from 2022. The company also reported its second highest ever net profit after tax of NZ$436.3 million. Summerset Chief Executive Scott Scoullar said the company had a very…
Mayfair Capital Partners acquires Baseline Fitness, a leading Planet Fitness franchisee
Mayfair Capital Partners, a division of Oxford Financial Group, has acquired Baseline Fitness, a leading franchisee in the Planet Fitness system, from Freeman Spogli and Co. The investment closed on February 2, 2024, and terms were not disclosed. Baseline Fitness, founded in 2009 and headquartered in Fargo, North Dakota, operates 100 Planet Fitness locations across…
Torpedo7 sold for $1 to Tahua Partners Limited
AUCKLAND: The Warehouse Group has sold its outdoor brand Torpedo7 to Tahua Partners Limited, a 100% Kiwi owned and operated business, for $1. The deal will allow The Warehouse Group to focus on its core brands and improve its financial performance. Torpedo7, which represents only 5% of The Warehouse Group’s sales, has faced challenges due…
Barclays announces new operating structure and leadership changes
LONDON: Barclays Plc, one of the leading global financial services providers, has today announced a new operating structure that will align its business segments with its strategic priorities and customer needs. The new structure will consist of five focused operating divisions, namely: Barclays will report its financial performance based on these five operating divisions, in…
Elixinol Wellness sells stake in Pet Releaf for A$2.3 million
SYDNEY, AUSTRALIA: Elixinol Wellness Limited (ASX: EXL), a global leader in hemp and plant-based products, has announced the sale of its minority interest in Altmed Pets, LLC (Pet Releaf), a US-based pet wellness company, for approximately A$2.3 million. The deal, which is subject to financing, will allow Elixinol Wellness to focus on its core business…
How to Invest Money Wisely: A Guide for the American Business Man
If you are a successful business man, you may have accumulated a considerable amount of wealth in the past decade. You may also have a growing business surplus that you need to set aside for emergencies. But do you know how to invest your money wisely and make it work for you? Investing money is…
Greater Commercial Lending completes $25m in financing for copper mining company in Utah
Lisbon Valley Mining Co., a copper mining company in Utah, has secured a $25 million loan from Greater Commercial Lending (GCL), a provider of government-guaranteed loans to under-served and rural communities. The loan, backed by the U.S. Department of Agriculture (USDA) through the Business & Industry Loan Program, will be used to improve copper mine…