The Saudi Arabian oil giant Aramco has announced a 288% increase in Q2 profits from the same quarter of last year to $25.5 billion and declaring a dividend of $18.8 billion. Aramco’s net income for the first half of the year was $47.2 billion a increase of 103% over the same period in 2020. The […]
The German pharmaceutical company Bayer has announced to acquire Vividion Therapeutics for $2 billion. After the acquisition, Bayer will own full rights to Vividion’s proprietary discovery platform, which comprises three integrated, synergistic components: an integrated data portal, a novel chemoproteomic screening technology, and a proprietary chemistry library. The acquisition of Vividion will strengthen Bayer’s small […]
The Fintech digital platform Nextpay announced a increase of $1.6 million in seed funding round Singapore-based venture capitalist Golden Gate Ventures and Gentree Fund led the oversubscribed seed financing round. Golden Gate Ventures has interests in digital leaders such as Omise, Codapay, BukuWarung, Stripe, and Xendit, while Gentree Fund is a private investment vehicle of […]
The battery cell manufacturer SK Innovation to split its battery and petroleum divisions into two new entities to improve its growth. In a press release SK Group company said the envisioned SK Battery will focus on midsized and large electric vehicle batteries, battery metal recycling, battery rental service and energy storage systems businesses. The other […]
The soft drink manufacturer PepsiCo has announced to sell its juice brands to PAI Partners for $3.3 billion. The Juice brands include Tropicana, Naked and other select brands across North America, the deal with French private equity firm PAI Partners will net pretax cash proceeds of $3.3 billion for Pepsi. The Chairman and Cheif Executive […]
The energy company SSE has agreed to sell its stake in gas distribution operator Scotia Gas Networks Ltd for £1.225 billion. SSE had initially acquired a 50% equity share in Scotia Gas Networks in 2005 for a total of £505m, before selling a 16.7% stake to a wholly owned subsidiary of the Abu Dhabi Investment […]
The American financial services Square plans to acquire all of the issued shares in Australia’s Afterpay for $29 billion. The acquisition will help in enabling the Square Inc And Afterpay to deliver compelling financial products and services that expand access to more consumers and drive incremental revenue for merchants of all sizes. The ‘buy now, […]
The South Korean automaker Hyundai Motor Group and one of the leading battery producer LG Energy Solution are joining hands to establish a $1.1 billion electric vehicle battery plant in Indonesia. Both the companies have signed a memorandum of understanding (MoU) with the Indonesian government for the plant, which would produce 10 gigawatt-hours worth of […]
Eone Diagnomics Genome Center ( EDGC ), Korea’s genetic sequencing firm and gene-based services provider acquires Canada’s nutritional supplement manufacturer Natural Life Nutrition to expand its share in the international health supplements market. The deal came after Eone Diagnomics Genome Center ( EDGC ) set a new goal to dominate the market through its own […]
The German Multinational corporation Porsche SE invests in rocket start-up Isar Aerospace to gain access to new space-based technologies. The company has joined banking group Lombard Odier and venture capital firm HV capital to raise $75 million bringing the fund to $165 million and valuing the group at an estimated $550 million. The executive responsible […]
Europe’s leading Banking-as-a-Service platform, Solarisbank AG announced that it has raised €190 million to acquire Contis, the current valuation of Solarisbank is €1.4 billion. The round was led by Decisive Capital Management, with support from growth investors, including CNP (Groupe Frère),Ilavska Vuillermoz Capital and Pathway Capital Management. Existing investors led by yabeo Capital, alongside BBVA, […]
The oil and gas company bp acquires digital energy business Open Energi, which is a technology company that optimises and trades power from low carbon-technologies such as EVs, battery storage, hydrogen electrolysers, demand-side response, and smart buildings. Open Energi, over the past decade has thrived itself to become one of the prominent energy technology company […]
The financial services corporation Visa Inc has announced that it has signed an agreement to acquire Currencycloud which is a platform that allows fintechs and banks to provide innovative foreign exchange solutions for cross border payments. Currently Currencycloud values at £700 million, inclusive of cash and retention incentives. The cloud platform will help in improving […]
The Australian mining company BHP announced that it has signed nickel supply agreement with US carmaker Tesla. The miner will supply nickel from its Nickel West Asset in Western Australia, BHP produces one of the most sustainable and lowest carbon emission nickel producers in the world. Tesla, One of the largest manufacturer of electric vehicles […]
The real estate investment trust Kite Realty Group Trust and RPAI (Retail Properties of America) announced a $7.5 billion merger in which RPAI would merge into a subsidiary of KRG. Both the companies are expected to have an equity market capitalisation of approximately $4.6 billion and a total enterprise value of approximately $7.5 billion upon […]
