Aldar Properties, a UAE-based real estate developer, has acquired Al Fahid Island for AED 2.5 billion ($680 million), expanding the company’s land bank and near-term development pipeline in Abu Dhabi. The 3.4 million sqm Al Fahid Island is situated on the Sheikh Khalifa bin Zayed Highway (E12), which connects Abu Dhabi’s Yas Island and Saadiyat […]
Seriti Green, a renewable energy subsidiary of Seriti Resources, will build a 155MW wind farm in Mpumalanga in South Africa, with R4 billion ($236 million) investment. The Mpumalanga wind farm, which is the first phase of Seriti Green’s 900MW renewable energy project named Ummbila Emoyeni, is anticipated to convert more than 75% of the energy […]
Lotus Technology, a luxury electric vehicle (EV) maker, will go public through a business combination with L Catterton Asia Acquisition Corp, a blank check company, in an effort to deliver all-electric, sustainable luxury vehicles worldwide. Post-closing, the combined entity with an estimated enterprise value of around $5.4bn, will retain its name Lotus Technology and will […]
QAD, a portfolio company of Thoma Bravo, has acquired Redzone, a connected workforce solution platform, for approximately $1 billion, strengthening the former’s idea of the adaptive enterprise. The transaction follows the US-based QAD’s acquisition of Livejourney in December 2022, and marks the second for the company in the last two months. With the acquisition, QAD […]
GSK has secured the approval of the US Food and Drug Administration (FDA) for the company’s Jesduvroq (daprodustat) for anaemia of chronic kidney disease (CKD) in adults on dialysis. Jesduvroq is an oral hypoxia-inducible factor prolyl hydroxylase inhibitor indicated for the daily once treatment of anaemia due to CKD in adults on dialysis for at […]
McGrath RentCorp, a business-to-business rental company in North America, has acquired modular space solutions company Vesta Modular from Kinderhook Industries in an all-cash transaction valued at approximately $400 million. With the acquisition, McGrath RentCorp anticipates to increase its longer-term financial profile, mobile modular business footprint, reach to new customers, and proportion of longer-term rental revenue […]
Wolfspeed, a US chipmaker, is planning to construct a new $2.18 billion chip manufacturing facility in Saarland, Germany, as part of the company’s wider $6.5 billion capacity expansion strategy. The 200mm semiconductor fab will be the company’s first European facility, which will manufacture next-generation silicon carbide devices for a wide variety of industrial, automotive, and […]
Tata Consultancy Services (TCS) has launched TCS Customer Intelligence & Insights (CI&I) solution for Retail 3.0, which can be deployed on-premises or in the cloud and on Microsoft Azure, as well as other providers. TCS CI&I for Retail 3.0 combines a real-time customer data platform, intelligent loyalty management, and artificial intelligence (AI) driven customer analytics […]
Equinor has contracted Linde Engineering and BOC, both Linde companies, to advance the 600MW H2H Saltend low carbon hydrogen production project in the UK. The Norwegian state-owned oil and gas company has awarded a front-end engineering design (FEED) contract to Linde Engineering, and an operation and maintenance service contract to BOC. Under the contract, Linde […]
American automotive manufacturer General Motors (GM) and Lithium Americas, a mining company, have joined forces to develop the Thacker Pass lithium project in Nevada. Situated in Humboldt County, the Thacker Pass lithium mine is anticipated to process a large scale of lithium, which can support the production of up to one million electric vehicles annually. […]