GOCL Corporation Limited, a Hinduja Group company, reported an impressive 200% increase in net profit for Q1 FY25, reaching ₹36 crore compared to ₹12 crore in the same quarter last year. This financial performance comes amid challenging conditions, including rising raw material costs and inflationary pressures, which have impacted per-unit revenue. Nevertheless, GOCL Corporation’s consolidated […]
TotalEnergies has finalized its agreements with Alimentation Couche-Tard, a milestone transaction valued at €3.1 billion. The deal, which involved TotalEnergies’ retail networks in Germany, the Netherlands, Luxembourg, and Belgium, was completed in two steps, with the final step concluded on January 3rd, 2024. TotalEnergies received €3.4 billion in cash consideration after adjustments and before tax […]
BNP Paribas has announced the launch of the BNP Paribas Climate Impact Infrastructure Debt Fund, a significant step in financing climate change mitigation and supporting the energy transition in Europe. This initiative, resulting from collaboration among BNP Paribas Asset Management, BNP Paribas Corporate & Institutional Banking, and BNP Paribas Cardif, aims to raise between EUR […]
Tensions skyrocket as Romanian President Klaus Iohannis reveals that Ukraine’s neighboring attacks were executed shockingly close to the Romanian border. Russian drones have repeatedly struck Ukrainian infrastructure, and now, the danger looms “very, very close” to Romania, says Iohannis. Romania Denies Kyiv’s Claim of Russian Drones Detonating on Its Soil Fact or Fiction: Did Russian […]
Einride, a Swedish freight mobility technology company, has launched in Belgium, the Netherlands, and Luxembourg (together, Benelux) in partnership with brewing giant Anheuser-Busch InBev (AB InBev) to drive the electric transport transformation in the region. The partnership between Einride and AB InBev is anticipated to cut down CO2 emissions by 500 tonnes per year by […]
Germany-based BENTELER Group said that it will divest its steel tube plant in Shreveport, Louisiana to Tenaris, a steel pipe products manufacturer and supplier based in Luxembourg, for a price of $460 million. According to BENTELER Group, the decision to sell the steel tube plant in Shreveport was taken after a comprehensive analysis. The German […]
Ardagh Group, a Luxembourg-based glass and metal products manufacturer, has wrapped up the previously announced $1 billion acquisition of Consol Holdings Proprietary Limited (Consol Glass). Based in South Africa, Consol Glass is a glass packaging producer. The consideration includes the net debt of around $365 million of the South African firm. The deal was announced […]
Jio Platforms Limited (JPL), a subsidiary of Reliance Industries Limited, has created a 51:49 satellite broadband joint venture (JV) called Jio Space Technology with SES, a Luxembourgish satellite-based content connectivity solutions provider. Jio Space Technology will be engaged in providing satellite broadband services in India. The joint venture will utilize multi-orbit space networks — a […]
Kleos Space, a Luxembourg-based space-powered radio frequency reconnaissance data-as-a-service (DaaS) company, has raised AUD 12.6 million ($9.37 million) from new and existing institutional and sophisticated investors in Australia and the US. The funds were raised by the DaaS company through a placement of nearly 14.82 million new CHESS Depositary Interests over the ordinary shares (CDIs) […]
Subsea 7 said that it will create Seaway 7 ASA, a pure-play renewables company, by merging its renewables business with Norwegian firm Offshore Heavy Transport (OHT) ASA. While Subsea 7 is a subsea engineering, construction, and services company based in Luxembourg that caters to the offshore energy industry, OHT calls itself a specialist transport and […]