OPEC meeting April 2020 : OPEC and other oil producing nations have reached a consensus on cutting production of crude oil by 10 million barrels per day (mb/d) for the next couple of months owing to the low demand for oil resulting from the recent coronavirus crisis. The countries, which took part in an extraordinary […]
Banco Santander has expanded its global trade platform for companies by acquiring a 50.1% stake in Spanish fintech company Mercury Trade Finance Solutions (Mercury TFS) for €30 million. Mercury TFS is a trade finance digitalization software provider, which specializes in software solutions designed for automating the end-to-end management of trade finance transactions for corporate customers. […]
Saasken oil discovery : Italian oil and gas giant Eni has pulled off a new oil discovery in the Cuenca Salina basin in Mexican waters through the drilling of the Saasken-1 NFW well. The exploratory well targeted the Saasken prospect contained in Block 10 in the mid-deep water of the basin, which in turn is […]
AlphaCredit, a Latin American fintech company, has raised $125 million in a Series B equity financing round led by the Latin America Fund of Japan’s SoftBank. The Latin American-focused fintech company, through its AXS Access, Check!, Alcanza Capital and Bontu, AlphaCredit platforms, serves small and medium enterprises (SMEs) in Mexico and Colombia with consumer lending […]
Equinox Gold acquisition of Leagold Mining : Canadian mining company Equinox Gold has signed a deal of about CAD 769.3 million ($ 578.38 million) to acquire Leagold Mining, as per the latest mining acquisition news. Also based in Canada, Leagold Mining is a mid-tier gold producer focused on Latin America. The Canadian gold mining company […]
Hospitality technology company Parity Technology Solutions has acquired Hotspot International, a hotel solutions provider for an undisclosed price, in a move to bolster its position in the hospital technology industry. Hotspot International provides turnkey solutions in Mexico, the US, Central America, and the Caribbean. The company is engaged in offering High-Speed Internet Access (HSIA) and […]
Cooper Tire & Rubber Company is set to take full ownership in Corporación de Occidente (COOCSA), its joint venture tire manufacturing facility in Mexico with Trabajadores Democraticos de Occidente (TRADOC). Currently, the Ohio-based tire manufacturer has 58% ownership in the Mexican tire manufacturing facility. TRADOC, which owns 42% in COOCSA, will sell its stake to […]
Mexican baking company Grupo Bimbo has struck a deal to acquire the Paterna bread factory in Spain from Cerealto Siro Foods for an undisclosed price, as per the latest food acquisition news. The deal also includes the bread business associated with the Paterna bread baking plant, which is located in Valencia. The bread factory in […]
Waldorf Astoria Hotels & Resorts, a hotel brand of Hilton, has opened its first resort Waldorf Astoria Los Cabos Pedregal in Mexico, expanding the brand’s portfolio in the Caribbean and Latin America. The property formerly known as The Resort at Pedregal was acquired by affiliates of Walton Street Capital Mexico and rebranded as Waldorf Astoria […]
Canadian power company Northland Power has made a final investment decision (FID) for its 100% owned 130MW La Lucha solar project, which will be built with an investment of approximately CAD$190 million ($141.2 million) in the Mexican state Durango. Northland Power said that it got all the major permits required for the Mexican solar project […]