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…
Tag: 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…
Ryan Bailey to lead Cambridge Savings Bank as new President and CEO
Cambridge Savings Bank (CSB), a full-service mutual bank with nearly $7 billion in assets, has announced the hiring of Ryan Bailey as its new president and chief executive officer (CEO). Bailey will succeed Wayne Patenaude, who will retire in 2023 after 12 years of leading the bank. Bailey joins CSB from USAA, where he was…
W. Capra to acquire Impact 21, creating a customer-first business transformation powerhouse
W. Capra, the leading professional services firm in commerce, technology, and consumer programs, and Impact 21, a globally recognized business transformation firm, have signed a letter of intent for W. Capra to acquire Impact 21. The deal is expected to close in early Q2 2024. The acquisition will create the premier end-to-end consulting and services…
BWP Management Limited makes $246.8 million bid for Newmark Property REIT
SYDNEY, AUSTRALIA: BWP Management Limited (BWPM), the responsible entity for BWP Trust (BWP), has launched an all-scrip offer to acquire all the securities of Newmark Property REIT (NPR) for an implied price of $1.39 per security, representing a 43.1% premium to NPR’s closing price on 23 January 2024. The offer is unanimously recommended by the…
Andrew Irvine to lead National Australia Bank as new CEO
SYDNEY, AUSTRALIA: National Australia Bank (NAB) has announced that Andrew Irvine will take over as its Group Chief Executive Officer and Managing Director from 2 April 2024. He will replace Ross McEwan, who will retire after more than four years at the helm of the bank. Mr Irvine, who joined NAB in 2020 as Group…
McNally Capital appoints Lou Rassey as Co-CEO and Managing Partner
McNally Capital, a private equity firm, announced today that Lou Rassey, a former CEO, entrepreneur, and McKinsey Partner, has joined the firm as Co-Chief Executive Officer (Co-CEO) and Managing Partner. Rassey will work alongside Founder, Co-CEO, and Managing Partner Ward McNally to lead the firm’s growth, innovation, and operational excellence. Rassey brings 30 years of…
Yandex sells Russian business for $5 billion amid war and sanctions
Yandex NV, the Dutch parent of Russia’s leading tech company, has agreed to sell its core business in Russia to its local managers, oil giant Lukoil and other investors for $5 billion, half of its market value before the war. The deal is one of the largest exits of Western companies from Russia since President…
TECOM Group reports record revenue and profit for 2023
TECOM Group, the creator of specialised business districts and vibrant communities in Dubai, reported a record revenue of AED 2.2 billion and a net profit of AED 1.1 billion for 2023, up 10% and 49% respectively from the previous year. The Group attributed its strong performance to robust demand from new and existing customers across…
Westpac Group sells lenders mortgage insurance business to Arch Capital
AUCKLAND: Westpac Group will sell Westpac Lenders Mortgage Insurance Limited (WLMI) to Arch Capital Group (Arch) and enter into a 10-year exclusive supply agreement forArch to provide Lenders Mortgage Insurance (LMI) to the Group. The sale price will be at book value which will be determined at completion. The transaction also includes small, fixed annual…
SKS Technologies to acquire business of APEC Technologies valued at approximately $2 million
SYDNEY: SKS Technologies Limited has entered into a binding agreement to acquire the assets and ongoing business of the APEC Technologies Group valued at approximately $2 million subject to satisfactory due diligence. The acquisition represents the development of the strategy to grow capacity as well as capability, and capture rapidly emerging opportunities in the sector….