LONDON: Glencore Plc announced that its subsidiary Carlisa Investments Corp., has signed an agreement with ZCCM Investments Holding plc to transfer its 90% interest in Mopani Copper Mines plc to ZCCM, the owner of the remaining 10% interest in Mopani, for US$1 and the Transaction Debt. Completion of the sale is conditional on receipt of…
LONDON: Ascential plc has entered into an agreement to sell Glenigan, a brand within the Built Environment & Policy segment, to Byggfakta Group, for £72.9m in cash, a news release said. Completion is expected in Q1 2021 subject to an EU competition clearance required by the buyer. As previously indicated, the nature of Glenigan’s business…
LONDON: Capita plc has agreed to sell its Education Software Solutions (ESS business) to Tiger UK Bidco Limited, a newly formed company established by funds advised by Montagu Private Equity, in a deal that values ESS at up to £400 million. Part of the consideration agreed is for Montagu to assume liabilities such as working…
HELSINKI: Skanska has sold two office buildings in Bucharest to S IMMO AG, an Austrian-based real estate company. The transaction is valued at EUR 97M, about SEK 995M, and will be recorded by Skanska Commercial Development Europe for the fourth quarter of 2020. The transfer of the properties is scheduled for the second quarter of…
LONDON: Ariana Resources plc ha announced the conditional agreement for the sale of its remaining projects in Turkey to Zenit Madencilik San. ve Tic. A.S., ahead of the planned completion of its agreements with Özaltin Holding A.S. and with Proccea Construction Co., concerning the proposed expanded joint venture. The Zenit joint venture is currently owned…
SINGAPORE: BW LPG Limited has entered into Memorandums of Agreement (MOA) to sell two Very Large Gas Carriers (VLGC) BW Confidence and BW Cedar. BW Confidence was built in 2006 and has a carrying capacity of 83,270 cbm. The sale is expected to generate approximately US$36 million in liquidity and an expected net book gain…
MUNICH: Mutares SE & Co. KGaA has signed a Heads of Agreement for the sale of its 80% share of Nexive Group S.r.l., headquartered in Milan, to Poste Italiane S.p.A, a news release said. The Nexive business was acquired in July2020 from PostNL, who still holds the minority share of 20% in the entity that…
ATHENS: Hellenic Telecommunications Organization S.A. (OTE) has entered into an agreement to sell its 54% stake in Telekom Romania Communications S.A. (Fixed) to Orange Romania. The agreed consideration is €497m for 100%, corresponding to €268m for OTE’s stake, on a debt-free, cash-free basis and is subject to customary adjustments at closing of the transaction, such…
CALGARY: Valeura Energy Inc. has executed a Share Purchase Agreement to sell its producing shallow conventional gas business to TBNG Limited for a cash consideration of US$15.5 million, plus royalty payments of up to an additional US$2.5 million. Proceeds from the deal will add to Valeura’s strong net cash position, which as of September 30,…
PERTH: Fonterra Co-operative Group has agreed to sell its China farms for a total of $555 million, a news release said. Inner Mongolia Natural Dairy Co., Ltd, a subsidiary of China Youran Dairy Group Limited, has agreed to purchase Fonterra’s two farming-hubs in Ying and Yutian for $513 million. Separately, Fonterra has agreed to sell…
SINGAPORE: Keppel Corporation Limited announced that M1 Limited is divesting its entire 51% shareholding in Kliq Pte. Ltd. to Merchantrade Asia and Qala Tech for an aggregate cash consideration of S$1.4 million. Completion of the divestment is conditional upon, among others, receipt of approval from regulatory authorities. The aggregate consideration will be fully payable in…
SYDNEY, AUSTRALIA: New Energy Solar has agreed to sell a 50% interest in Mount Signal 2 (MS2) for US$52 million subject to final confirmatory due diligence, completion of binding documentation, and a performance-linked payment structure. New Energy Solar has agreed to sell a 50% interest in NEW’s MS2 solar power plant in California to NextPowerIII…