Japaul Services signs $350 million financing agreement with Milost Global

Ajose SehindemiFebruary 19, 2018

Japaul Oil and Maritime Services Plc. have signed a $350 million financing agreement with Milost Global Incorporated. The financing was arranged and negotiated by Palewater Advisory Group Inc in New York and Banklink Africa Limited in Nigeria. The funds will be injected into the company, with a focus on its mining operations. Milost Global had recently […]

Russia’s RDIF says to finalise Eurasia drilling deal with Aramco

Businessam StaffFebruary 14, 2018

The Russian Direct Investment Fund (RDIF) on Wednesday said it expected to finalise a deal with Saudi Arabia’s Aramco to invest in oilfield services firm Eurasia Drilling. “We expect to finalize an agreement very shortly to have our energy platform with Saudi Aramco invest in Eurasia Drilling and also provide services to Saudi Aramco,” Kirill […]

Uber settles with Waymo on self-driving

Businessam StaffFebruary 12, 2018

Uber and Waymo have reached a settlement over claims Uber stole trade secrets from the self-driving company. As part of the agreement, Uber is giving a 0.34 percent Uber stake to Waymo, worth approximately $245 million (£177m). Uber has also agreed not to use Waymo’s technology in its self-driving cars, though it maintains it never […]

TPG Growth to acquire TRACE, Africa’s music, entertainment company

Businessam StaffJanuary 19, 2018

TPG Growth (TPG), the middle market and growth equity investment platform of global alternative asset firm has signed a definitive agreement to acquire a majority stake in TRACE, the afro-urban music, and entertainment media, according to report by Africa Business Communities. The remaining stake will be owned by TRACE’s co-founder and management team. TPG Growth […]

Maersk partners IBM to launch blockchain-based platform for global trade

Businessam StaffJanuary 16, 2018

The world’s largest container shipping firm A.P. Moller-Maersk is teaming up with IBM to create an industry-wide trading platform it says can speed up trade and save billions of dollars. The global shipping industry has seen little innovation since the container was invented in the 1950s, and cross-border trade still leaves an enormous trail of […]

Nokia signs smartphone patent license deal with China’s Huawei

Businessam StaffDecember 21, 2017

Nokia, the Finnish multinational communications, information technology and consumer electronics company, said Thursday it had signed a multi-year smartphone patent license deal with China’s Huawei, completing its list of agreements with the world’s largest handset makers. The new deal is one in a series of deals with global mobile phone makers. Nokia recently struck licensing […]

Disney buys Fox assets in $52bn split of Murdoch Realm

Businessam StaffDecember 14, 2017

Walt Disney Co. agreed to a $52.4 billion deal to acquire much of the global empire that media baron Rupert Murdoch assembled over three decades, from a fabled Hollywood studio to Europe’s largest satellite-TV provider to one of India’s most-watched channels. Holders of Murdoch’s 21st Century Fox Inc. will get 0.2745 Disney share for each Fox share, […]

Investec provides U.K. fintech with $67m for online loans

Businessam StaffDecember 13, 2017

In a sign that a sweeping new European Union banking law may be spurring banks and fintech startups to tie-up, Investec Plc has formed a pilot program with MarketInvoice Ltd., a British online lender to businesses. According to Bloomberg, London-based MarketInvoice, which arranges loans for small companies secured by accounts receivable, will handle the underwriting […]