LONDON: BHP and Mitsubishi Development Pty Ltd (MDP) have completed the divestment of the Blackwater and Daunia mines to Whitehaven Coal. Daunia and Blackwater were part of the BHP Mitsubishi Alliance (BMA) metallurgical coal joint venture in Queensland. Each of BHP and MDP hold a 50% interest in BMA. Whitehaven Coal has paid BMA US$2.0…
Tag: Divestment
OCI Global reports sharp drop in revenues and earnings, sells off fertilizer assets
AMSTERDAM: OCI Global, a leading producer and distributor of nitrogen fertilizers and industrial chemicals, announced its financial results for the fourth quarter and full year 2023, showing a significant decline in revenues and earnings due to lower global nitrogen prices. The company also revealed that it has sold its stakes in Fertiglobe and Iowa Fertilizer…
Divestment of Shell Pakistan by parent company may value around US$140mn
KARACHI, PAKISTAN: Shell Pakistan Limited (SHEL) is set to be sold by its parent company, Shell Global. The announcement was made in a notice to the Pakistan Stock Exchange (PSX). Shell Global has a 77.42% stake in SHEL, and the sale is subject to regulatory approvals. The company has not disclosed the identity of the…
TotalEnergies EP Gabon finalizes divestment of interests in non-operated assets and Cap Lopez Terminal
PARIS, FRANCE: After receiving the approval of Gabonese authorities, TotalEnergies (NYSE:TTE) announced the closing of its agreement to divest to Perenco Oil and Gas Gabon the Cap Lopez Terminal and non-operated assets of its 58%-owned affiliate TotalEnergies EP Gabon. With this transaction, in an amount of $350 million before final adjustment, TotalEnergies EP Gabon is…
Handelsbanken exiting from Denmark and Finland
OSLO, NORWAY: Handelsbanken has initiated the process to divest its operations in Denmark and Finland, markets that account for 10% of the income, 13% of the costs, and 8% of the operating profit within the group. The capital allocated to the operations in Denmark and Finland amounts to a total of approximately SEK 15 billion….
Ava Risk Group closes divestment of Ava Global to TTG Bidco
SYDNEY, AUSTRALIA: Ava Risk Group Limited has completed the sale of its non-core Services Division, Ava Global DMCC-LLC to TTG Bidco Limited, an entity backed by funds advised by Phoenix Equity Partners Limited. Sale price includes US$46.4 million (A$62.6 million) with anticipated net cash proceeds of US$31.1 million (A$41.9 million) after closing adjustments, and payment…
LSEG completes €4.443 divestment of Borsa Italiana Group to Euronext
LONDON: London Stock Exchange Group (LSEG) notes the announcement from Euronext and confirms that it expects to close the divestment of London Stock Exchange Group Holdings Italia S.p.A. and its business (Borsa Italiana Group) to Euronext for a total cash consideration of €4.443 billion today. LSEG’s intention is to use the net proceeds from the…
SEK 3.9bn divestment of Grand Group and the Grand Hôtel property
STOCKHOLM: Investor AB’s Patricia Industries and its subsidiary Vectura, have agreed to divest Grand Group and the Grand Hôtel property, respectively, to FAM AB. The transaction includes the hotel operations Grand Hôtel, Lydmar Hotel and The Sparrow Hotel, all located in Stockholm, as well as the Grand Hôtel property. The total transaction value amounts to…
Parkmead announces divestment of non-core acreage and acceleration of renewable energy project
LONDON: Parkmead, the independent energy group, has completed two successful sales of two separate areas of non-core land from its UK renewable energy portfolio for an aggregate consideration of £4.0 million. This divestment follows detailed analysis carried out across the Group’s onshore land portfolio. Sites with the largest renewable energy potential have been retained and…
Moa Group announces divestment of Moa Brewing Company
AUCKLAND: Moa Group Limited has announced the divestment of Moa Brewing Company, continuing the development and expansion of its successful hospitality group, Savor Group, one of New Zealand’s largest hospitality businesses. The future of Moa Brewing Company has been a focus of the Board and management over the past six months. The Board recognises the…
AstraZeneca completes Atacand divestment to Cheplapharm in more than 70 countries
LONDON, UK: AstraZeneca has completed the divestment of commercial rights to Atacand (candesartan cilexetil) and Atacand Plus (a fixed-dose combination of candesartan cilexetil and hydrochlorothiazide) in over 70 countries to Cheplapharm Arzneimittel GmbH (Cheplapharm). Under the terms of the agreement AstraZeneca received a payment of $250m from Cheplapharm. AstraZeneca will receive further non-contingent payments equal…
Spectris Plc announces divestment of Brüel & Kjær Vibro and Millbrook
LONDON: Spectris plc announced the divestment of its Brüel & Kjær Vibro (‘B&K Vibro’) and Millbrook businesses. Subject to the completion of these disposals, the proceeds will be used to further strengthen Spectris’ balance sheet and then be deployed in accordance with its capital allocation policy. Brüel & Kjær Vibro: Spectris has agreed with NSK…