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ComfortDelGro to buy $475m stake in Uber’s Singapore car rental company

Uber ComfortDelGro deal : ComfortDelGro Corporation has agreed to buy a stake of 51% in Lion City, a Singapore car rental company in a deal worth S$642 million ($474.6 million) according to the latest transport industry news. Lion City is a wholly owned subsidiary of US-based ride hailing company Uber Technologies while ComfortDelGro is a […]

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Confectionery giant Ferrero acquires US candy manufacturer Ferrara Candy

Food acquisition news : Nutella owner and Italian confectionery giant The Ferrero Group has completed a previously announced acquisition of US candy manufacturer Ferrara Candy Company from private equity firm L Catterton. The transaction amount involved in the Ferrero acquisition of Ferrara Candy was not revealed by the parties. Ferrero, which made the deal in […]

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Specialty retailer 2nd & Charles to open new store in Conroe, Texas

Retail industry news : US-based specialty retailer 2nd & Charles is set to open what would be its third store in Texas which will begin business from 16 December in Conroe. The other two 2nd & Charles stores in Texas are located in Beaumont and Laredo. Overall, 2nd & Charles has taken its total number […]

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Reliance Power secures deal for first phase of Bangladesh power project

India Bangladesh power project : Anil Ambani’s Reliance Power has wrapped up agreements related to the first phase of its  3GW LNG-fired power project in Bangladesh, which would cost around Rs 6,500 crore ($1 billion). As part of the first phase of the Bangladesh power project, Reliance Power will build a combined cycle gas-fired power […]

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Mahou San Miguel to buy 30% stake in Coloroado craft brewer Avery Brewing

Drinks acquisition news : Spanish beer company Mahou San Miguel has struck a deal to acquire a stake of 30% in Avery Brewing, a Coloroado craft brewer, for an undisclosed price as part of its global expansion strategy. Founded in 1993 by Adam Avery, a home brewing enthusiast, Avery Brewing has distribution of its craft […]

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Maple Leaf Foods to acquire vegan meat company Field Roast Grain Meat

Food acquisition news : Canadian meat processor Maple Leaf Foods has agreed to acquire vegan meat company Field Roast Grain Meat for around $120 million in a move to expand its platform across the high growth alternative proteins market. Based in Seattle in the US state of Washington, Field Roast Grain Meat manufactures grain-based meat […]

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Maersk Oil, partners to move ahead with $3.4bn Tyra redevelopment project

Oil and gas industry news : Maersk Oil and its partners as part of the Danish Underground Consortium (DUC) are all set to invest around DKK 21 billion ($3.4 billion) for the Tyra redevelopment project in the Danish North Sea. The full redevelopment of the Tyra gas field would result in continued production from what […]

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Acciona Energia breaks ground on 183MW San Gabriel wind farm in Chile

Wind industry news : Spanish wind energy company Acciona Energia has commenced construction on its 183MW San Gabriel wind farm in Chile with an aim to begin its commercial operations in September 2019. The San Gabriel wind farm, which is being built in the region of La Araucanía, is capable of meeting the power consumption […]

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Nestle India fined $70,000 for high ash content in Maggi noodles

Food processing news : The highly popular Maggi noodles range finds itself in controversy again as an Indian district court slapped a $70,000 fine on its owner Nestle India after lab reports of its samples found excessive ash content. The latest setback to Maggi noodles comes two years after it was temporarily banned across India […]

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