Nestlé opens two consumer healthcare factories in China
The Stars Group to acquire Sky Betting & Gaming for US$ 4.7 bn
Whirlpool Corp. to sell Embraco Compressor business for US$ 1 bn
23 - 28 APRIL 2018
it & BPM i FOOD I HEALTHCARE i TEXTILES i INFRASTRUCTURE i ENGINEERING i tourism
Volkswagen Group will invest US$ 18 bn into Chinese JV for Automotive Technology
Kroger has completed the sale of its convenience store business to EG Group for $2 bn
IHG signs double hotel deal in Egypt with Arabia Hotels
THE DEFINITIVE SOURCE FOR INVESTMENT PROMOTION EXECUTIVES
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Salesforce to invest
US$ 2.2 billion in its French Business over five years
Salesforce, the global leader in CRM, announced plans to invest $2.2 billion in its French business over the next five years.
The company made the announcement to French President Emmanuel Macron ahead of an event in his honor during his first state visit to the United States. Salesforce President & Chief Financial Officer Mark Hawkins will attend the event at the U.S. State Department, hosted by Vice President Mike Pence and Second Lady Karen Pence.
Salesforce is experiencing rapid growth in France and plans to significantly increase its headcount, real estate footprint and data center capacity in the country to support its growing customer base.
"France is home to some of the world's most respected and innovative brands, and a growing number are turning to Salesforce to power their digital transformations," said Marc Benioff, Chairman and CEO, Salesforce. "We see tremendous opportunity in France and with this investment, Salesforce will continue to drive outstanding growth, innovation and customer success in the country."
Salesforce: #1 CRM, #1 Best Place to Work in France
Salesforce is the #1 CRM provider in France and is also the fastest growing among the three largest enterprise software vendors in the region according to Gartner Inc.'s April 2017 Market Share All Software Markets, Worldwide, 2016 market share report, based on 2016 total software revenue.
Trimble, announced it has entered into a definitive agreement to acquire privately-held Viewpoint from Bain Capital in an all-cash transaction valued at $1.2 billion. Viewpoint is highly complementary to Trimble's e-Builder business, and will extend Trimble's ability to provide more complete and integrated project, jobsite and business workflows across the construction lifecycle.
Viewpoint is a leading provider of scalable construction management software, which integrates a contractor's financial and resource management to their project operations and to their jobsite and field. The integration across the office, team and field enables contractors to employ Viewpoint to effectively manage and have visibility to data and workflows that span the construction lifecycle from pre-production planning, to product operations and supply chain management, and then to project hand over and asset operation and maintenance. The Company's suite of purpose-built SaaS, client-server and mobile solutions improve project performance, provide increased visibility and deliver integrated workflow data to the entire team consisting of general contractors, project managers, architects, engineers and subcontractors. By blending office and field data workflows across a project, Viewpoint customers are able to achieve significantly improved collaboration, efficiency and decision making, while lowering costs.
Currently managing over $400 billion of construction project value, Viewpoint has approximately 8,000 customers worldwide, including many from the Engineering News-Record (ENR) 400 and 600 top tier construction firms. These firms include general contractors, heavy highway and civil contractors, specialty subcontractors and owners.
Trimble to acquire Viewpoint
for US$ 1.2 billion
Honeywell inaugurates its first Asian Industrial Cyber Security Center in Singapore
Honeywell, opened its first industrial cyber security center of excellence (CoE) in Asia. The center was developed with the support of the Singapore Economic Development Board (EBD) and designed to help defend the region's industrial manufacturers against evolving cyber security threats.
The cyber security center will be used to conduct proprietary research, develop new security technologies, provide hands-on training and certifications, and test and validate actual solutions deployed at customer sites. In addition to serving as a research and development lab, it also will deliver managed security services to help customers reduce the risk of security breaches and proactively improve their security posture. These services include continuous security and performance monitoring and alerting, threat detection and risk management, security device management, and incident response with 24-hour expert support 365 days a year.
The Stars Group Inc. announced that it has agreed to acquire Sky Betting & Gaming (“SBG”) from CVC Capital Partners (“CVC”) and Sky plc in a cash and stock transaction valued at $4.7 billion. This combination will result in the world’s largest publicly listed online gaming company.
“The acquisition of Sky Betting & Gaming is a landmark moment in The Stars Group’s history,” stated Rafi Ashkenazi, the Company’s Chief Executive Officer. “SBG operates one of the world’s fastest growing sportsbooks and is one of the United Kingdom’s leading gaming providers. SBG’s premier sports betting product is the ideal complement to our industry-leading poker platform. The ability to offer two low-cost acquisition channels of this magnitude provides The Stars Group with great growth potential and will significantly increase our ability to create winning moments for our customers.”
Mr. Ashkenazi concluded, “Following this transaction, The Stars Group will have significantly enhanced scale and a highly-regarded global brand portfolio. As a result, we are well positioned to realize our vision of becoming the world’s favorite iGaming destination.”
The Stars Group to acquire Sky Betting & Gaming
for US$ 4.7 billion
TransUnion agreed to acquire Callcredit for US$ 1.4 billion
TransUnion, announced its agreement to purchase Callcredit Information Group, Ltd., the second largest and fastest growing consumer credit bureau in the U.K., headquartered in Leeds.
Founded in 2000, Callcredit is a U.K.-based information solutions company that, like TransUnion, provides data, analytics and technology solutions to help businesses and consumers make informed decisions.
“TransUnion and Callcredit have strong synergies across our business models and solutions, and we share a commitment to using information to benefit consumers and global economies alike,” said Jim Peck, TransUnion’s president and chief executive officer. “Callcredit is an outstanding acquisition for TransUnion, and together, we’ll be a powerful force to deliver value to shareholders, customers and consumers across all the markets we serve.”
International expansion is a key growth strategy for TransUnion, already doing business in 33 countries. The company applies its global operating model to all acquisitions, optimizing business and operational processes. TransUnion’s innovative global solutions include trended data leader CreditVision® and consumer empowerment application CreditView®, as well as an array of data, fraud, decisioning, analytics and consumer identity solutions.
Volkswagen Group will invest US$ 18 billion into Chinese JV for Automotive Technology
At the Volkswagen Group Media Event, held on the eve of the 2018 Beijing International Automotive Exhibition, Volkswagen Group demonstrated the company’s commitment to delivering outstanding People’s Mobility solutions to Chinese consumers. The company outlined its vision to be a leading player in a new era of smart, people-oriented, sustainable mobility solutions. To support this goal, through 2022, Volkswagen Group and its joint-venture partners will be making around 15 billion euros available for e-mobility, autonomous driving, digitalization and new mobility services. Ten auto models were unveiled at the event.
The company aims to be at the forefront of key areas that will define the future of mobility. It believes the future will be determined by the electrification of cars to tighten pollution control, and the deployment of information technologies like artificial intelligence to advance the level of comfort. This will be complemented by smart traffic concepts to make cities more livable. These elements, along with autonomous driving, will help provide easy access to mobility for everyone. Under its Roadmap E strategy, the world’s most comprehensive electric vehicle offensive, Volkswagen will launch 40 NEVs (New Energy Vehicles) in China in the next 7 to 8 years.
Whirlpool Corporation to sell Embraco Compressor business for US$ 1 billion
Whirlpool Corporation announced that it has entered into an agreement to sell the Company's Embraco compressor business to Nidec Corporation for a cash purchase price of $1.08 billion, subject to customary working capital and indebtedness adjustments. The transaction is expected to close in early 2019, subject to regulatory approvals and other customary closing conditions.
"We are proud of our strong portfolio of global consumer brands. Since Embraco operates in the business-to-business space, this transaction enhances our strategic focus on investing in and growing our consumer-facing business," said Marc Bitzer, chief executive officer of Whirlpool Corporation. "The planned tender offer further demonstrates our commitment to returning capital to shareholders, consistent with our balanced capital allocation strategy."
Embraco Business Overview and Transaction Details
Headquartered in Brazil, Embraco has been a Whirlpool majority-owned business unit since 1997. The business has a workforce of approximately 11,000 employees across eight global manufacturing facilities located in Brazil, Italy, China, Slovakia and Mexico. Embraco also maintains commercial offices in the United States and Russia.
At at a ceremony witnessed by the Deputy Prime Minister of Thailand, His Excellency Dr. Somkid Jatusripitak, China's Ambassador Extraordinary and Plenipotentiary to Thailand, Lyu Jian, and the Executive Chairman of Alibaba Group, Jack Ma, the Government of Thailand and Alibaba entered into a strategic partnership to drive the development of Thailand's digital economy and the Eastern Economic Corridor under the Thailand 4.0 policy. Under this partnership, agencies of the Thai government and business units of Alibaba will work closely together in a number of areas, including e-commerce, digital logistics, tourism and training.
The partnership represents the strengthening of collaboration between Alibaba Group and the Thai Government following the signing of a Letter of Intent in 2016 - a move that kick-started a number of joint efforts to bolster the capacity of Thai entrepreneurs in gaining access to new markets and taking advantage of digital innovations.
Alibaba and Thailand Govt. enter into strategic partnership in support of Thailand 4.0
AEP plans to invest $17.7 bn in regulated businesses to build energy system of the future
American Electric Power, is investing in its core regulated businesses to improve service to customers and advance new energy technologies, according to Nicholas K. Akins, AEP chairman, president and chief executive officer. Akins addressed shareholders at the company's annual meeting today in Columbus, Ohio.
“AEP is positioned as a premier regulated energy company, with nearly all of our forecasted earnings coming from our regulated businesses,” Akins said. “Our 17,600 employees are focused on providing innovative energy solutions to our customers, integrating new technologies and building a smarter, cleaner and more resilient energy system.
“We plan to invest $17.7 billion in capital over the next three years – including $12.8 billion in our transmission and distribution systems and $1.7 billion in renewable energy – as we work to develop the energy system of the future and meet the changing energy needs and expectations of our customers. These investments will continue to support our operating earnings growth rate of 5 percent to 7 percent,” Akins said.
AEP’s forecasted $1.7 billion renewable energy investment between 2018 and 2020 does not include the company’s 2,000-megawatt Wind Catcher project, which will bring clean energy and lower bills for customers in Arkansas, Louisiana, Oklahoma and Texas if approved by regulators in those states.
CenterPoint Energy, Inc. and Vectren Corporation announced they have entered into a definitive merger agreement to form a leading energy delivery, infrastructure and services company serving more than 7 million customers across the United States.
Under the terms of the agreement, which have been unanimously approved by both CenterPoint Energy's and Vectren's Boards of Directors, Vectrenshareholders will receive $72.00 in cash for each share of Vectren common stock. CenterPoint Energy will also assume all outstanding Vectren net debt.
"This merger represents a significant step toward our vision to lead the nation in delivering energy, service and value. By combining our two highly complementary companies, we are creating an energy delivery, infrastructure and services leader that will drive value for our shareholders and customers, while enhancing growth opportunities for our businesses," said Scott M. Prochazka, president and chief executive officer of CenterPoint Energy. "From the evolution of customer expectations to the development of innovative technologies, this is a time of extraordinary opportunity for our industry. As a combined company, we will continue to focus on a future that benefits our customers, employees, communities and shareholders."
CenterPoint Energy to merge with Vectren Corporation
DHL Express officially opens its new Brussels Hub
DHL Express, the worldwide leader in logistics and express delivery, opened its new regional hub at Brussels Airport. The state-of-the-art hub is equipped with the most recent logistics technology and will almost quadruple the capacity of DHL Express in Brussels to 42,000 logistics per hour. The hub, an investment of over 140 million euros including lease expenses, has seen the creation of an additional 200 new DHL jobs to date at the airport, three years earlier than initially planned.
Ken Allen, CEO DHL Express said: “Brussels plays a crucial role in the worldwide DHL Express network. Brussels Hub is one of our largest hubs in the world and because of its location in the logistics heart of Europe, it also plays an important role in connecting companies from this region with the world. This new hub is a key part of our worldwide investment plan and will support our growth, the efficiency of our network and the high level of quality for which customers turn to DHL Express.”
The new 36,500m² hub (including warehousing and offices) almost quadruples the capacity of DHL Express in Brussels. At full capacity, the hub’s two automated sorting systems can process up to 42,000 packages per hour, making it the fifth largest hub in the global DHL network. It offers air and ground links to a broad number of European destinations, as well as direct intercontinental connections to the Americas, Middle East and Africa.
Nestlé inaugurated two new factories in the China Medical City in Taizhou, Jiangsu Province. The factories will meet the needs of consumers for Foods for Special Medical Purposes (FSMP) and skin care products.
This CHF 150 million investment (over 1 billion yuan) for the new factories Nestlé Health Sciences and Galderma adds to Nestlé’s existing industrial set up and underscores the Company’s confidence in the future prospects of the Chinese market.
The two state-of-the-art factories, built on 13 ha area, utilize best-in-class technologies to ensure high quality assurance to manufacturing efficiency. They will also contribute to the development of the local economies through local production.
PharmaCielo Ltd. to acquire Ubiquo Telemedicina
PharmaCielo Ltd. announces that it has reached an agreement to acquire Colombia’s only established provider of telemedicine services, Ubiquo Telemedicina, enabling expanded access to medicinal cannabis expertise among the Colombian medical community.
A joint venture between the Government of Colombia and the private sector, Ubiquo Telemedicina launched in 2016 in the Department of Antioquia, Colombia. A knowledge management and medical consultation system, the platform currently has a patient base of more than 80,000 in the department, with established plans for expansion throughout the country over the next 36 months, increasing the base of both medical expertise and patients supported exponentially.
“Ubiquo Telemedicina provides a unique opportunity for PharmaCielo to continue our leadership in the Colombian marketplace, and to support the expansion of medicinal cannabis expertise throughout the country,” said Anthony Wile, CEO. “With over 400 medical practitioners currently engaging this interactive platform in support of a wide range of specialties, including areas of critical care, the facilitation of knowledge from within the medical community about cannabis formulations and medically appropriate treatment options is unparalleled.”
The operating mandate of Ubiquo Telemedicina is to create fair and equal access for all Colombians to medical care and expertise. By enabling the Colombian medical community to provide increased access to highly specialized practitioner knowledge and consultation, Ubiquo Telemedicina facilitates continuing medical education and treatment-focused communication among practitioners. As part of the operating agreement, knowledge about the possible uses, benefits and risks of medicinal cannabis will be enabled among medical practitioners associated with the platform to help them make educated and informed decisions about products and monitoring, in addition to the current broad range of consultative supports currently provide by the platform.
Humana Inc., TPG Capital (TPG), Welsh, Carson, Anderson & Stowe (WCAS) (collectively, the Consortium) announced a definitive agreement to acquire privately held Curo Health Services (Curo), one of the nation’s leading hospice operators providing care to patients at 245 locations in 22 states. The Consortium is purchasing Curo for approximately $1.4 billion, in which Humana will have a 40 percent minority interest.
The Consortium members partnered with the objective of investing in and building businesses that can help modernize, enhance and transform home healthcare in America. Curo brings a highly capable management team and a tech-enabled, centralized model for hospice care that presents the opportunity for Humana and its Consortium partners to be a leader in managing the continuum of home health, palliative care and hospice in an integrated fashion, creating a positive and differentiated experience for patients and their families – as well as their care providers. This integrated model will leverage data and analytics to measure and advance evidence-based clinical outcomes for patients and seamlessly coordinate the transition from home care, to in-home palliative care, and thoughtfully into hospice, as chronically ill patients’ disease burdens progress.
Humana, with TPG and Welsh, Carson, Anderson & Stowe to acquire Curo Health
for US$ 1.4 bn
To meet growing consumer demand, Mondelēz International inaugurated its newest “Factory of the Future” in the Kingdom of Bahrain. The company invested $90 million in the state-of-the-art biscuit manufacturing plant that produces iconic Power Brands, including Oreo cookies and Barni soft cakes, for local consumers and serves as a hub for exports to the Gulf region, the Levant and Africa, reducing delivery costs and improving product freshness.
The 250,000 square meter manufacturing facility is about the size of 30 soccer fields with production capacity of nearly 45,000 tons per year. This new plant is located alongside Mondelēz International’s existing manufacturing site, which has been producing Kraft cheese and Tang powdered beverages since 2008.
The inauguration ceremony was held in the presence of His Highness Shaikh Isa Bin Salman Bin Hamad Al Khalifa, H.E. Zayed R. Al Zayani, Minister of Industry, Commerce and Tourism; Daniel Myers, Executive Vice President, Integrated Supply Chain, Mondelēz International; Maurizio Brusadelli, EVP & President, Asia Pacific, Middle East and Africa, Mondelēz International; and distinguished VIP guests and members of the news media.
Mondelēz International opens $90 million ‘Factory of the Future’ in Bahrain
The Kroger Co., announced it has completed the sale of its convenience store business unit to EG Group for $2.15 billion.
After tax proceeds total $1.7 billion. $1.2 billion of the proceeds will be used to fund an accelerated share repurchase ("ASR") program.
"Throughout the sales process, we have been impressed with EG Group's professionalism, commitment to people, and understanding of the U.S. convenience retail market," said Mike Schlotman, Kroger's executive vice president and chief financial officer. "I can't stress enough how important to our success Kroger's convenience store management and associates have been, and we want to thank them for all of their contributions to our customers and our company."
Kroger has completed the sale of its convenience store business to EG Group
for $2.15 billion
Nissin Foods Company Limited, a renowned food company in Hong Kong and the PRC with a diversified portfolio of well-known and highly popular brands and the largest instant noodle company in Hong Kong, has today announced that the Group and Kagome Co., Ltd. (“Kagome”, together with its subsidiaries, the “Kagome Group”) have entered into a subscription and joint venture agreement (“JV Agreement”) to form a joint venture company in Hong Kong (the “JV”).
The shareholding ratio of Nissin Foods and Kagome to the JV Company is 70% and 30% respectively. The Company would contribute HKD3.5 million in cash to the share capital of the JV Company, which will be financed by its internal resources of the Group. The JV is to become a subsidiary of Nissin Foods, the results of which will be consolidated into the Group’s financial statements
Through the joint venture with Kagome, who owns a product group with a high market share in Japan, Nissin Foods is entering the vegetable juice business in Hong Kong, Macau and Mainland China which is expecting continued growth in the future. Through the JV, the Group expects to expand its product portfolio and the sales in vegetable juices, and speed up its business growth in Hong Kong, Macau and Mainland China.
Formation of Joint Venture Company between Nissin Foods and Kagome Co.
Until very recently, all Nestlé Purina pet food sold in Chile was imported from Argentina and Brazil. With the start-up of a modern factory in Teno, in the Maule Region, 65,000 tons of pet food will be produced locally each year, which represents 80% of the sales volume in the country.
The plant bore an investment of USD $ 120 million, figure that allowed the implementation of cuttingedge technology that makes it the most modern factory in the Chilean market and Nestlé Purina worldwide. It has a differentiated pressurization system as well as three laboratories to ensure maximum hygiene, safety and quality throughout the production process.
In addition, the facilities have a Distribution Center of more than 10,000 m2 with a semi-automated system that permits optimizing space, time and travel, which positions it as the most efficient in the industry.
Nestlé opens state-of-the-art pet food factory in Chile
Wolverine Packing along with Tippmann Innovation (Ti) has broken ground on its fifth meat processing plant in Detroit's Eastern Market. Ti, a leading cold storage builder with headquarters in Ft. Wayne, IN, has started site work on the nearly 180,000 sq. ft. facility that is expected to bring approximately 150 new jobs to the city's east side.
Wolverine is among the nation's leaders in production of beef, poultry, and other meat products, including an impressive 8 million burgers per week, filling almost any size order for both international and domestic customers. The company currently operates out of four facilities and employs over 500 people in the Eastern Market. A thriving business leader whose annual growth continues to bring life back into the city, Wolverine's new production facility will create 100 construction jobs and 50 full-time employees.
Development plans also include rehabilitation for Forest Park, which lies along the east side of the property. Preserving the park for Forest Park residents and Wolverine employees is a priority for company owners who have agreed to financially contribute to the park's renovation. Ti is excited to share in bringing vibrant life to the city's east side as the project creates new jobs and a revitalized park for city residents.
"It has been a privilege working with Detroit's largest meat processing company and with Jay and Jim Bonahoom," says Ti's Rob Adams. "Over the last 2 ½ years we've seen the project grow from a small facility and processing project into something much greater. At each phase of construction planning, Wolverine customers' needs continued to evolve. Because of our great working relationship with the management team at Wolverine, we were able to seamlessly make the adjustments necessary to deliver a fantastic facility."
Ti breaks ground on a New Food Processing Facility
Bell Food takes over the salad & fruit specialist Sylvain & CO
The Bell Food Group company Eisberg is taking over Sylvain & CO SA. The Vaud-based company specialises in the processing of salads, vegetables and fruit and generates annual revenues of some CHF 40 million with 180 employees. All employees will be taken over.
The Bell Food Group company Eisberg has acquired full ownership of the Swiss family company Sylvain & CO SA with its registered office in Essert-sous-Champvent in Vaud. The company employs 180 people and is one of the most important providers of super-fresh convenience products in Switzerland. Sylvain & CO specialises in the production of fresh and ready-to-eat salads, vegetables and fruit. All employees are being taken over and the company will continue to be managed by the former Managing Director Sylvain Agassis. For the company and brand Sylvain & CO, the takeover offers future security in a dynamic market environment.
Eisberg and its Swiss company Gastro Star are already very well-positioned in the super-fresh convenience sector. By taking over Sylvain & CO SA, it is expanding its production capacity in this growing product group, which is increasingly being stretched to its limits in Switzerland. Eisberg is also further expanding its position in French-speaking Switzerland. Sylvain & CO will be incorporated into Bell Food Group retroactively from 1 January 2018. The parties have agreed to keep the details of the transaction confidential
Noble Investment Group (“Noble”) and InterContinental Hotels Group (“IHG”), one of the world’s leading hotel companies, announced the opening of the EVEN Hotel and Staybridge Suites hotel in downtown Seattle.
The hotels are adjacent to the Amazon headquarter campus and the new Google campus in the vibrant South Lake Union market of Seattle. South Lake Union is also a hub for life science and biotechnology organizations such as the Fred Hutchinson Cancer Research Center, the Allen Institute for Brain Science and the University of Washington School of Medicine.
EVEN Hotels is the first hotel created with wellness at its core. The hotel was designed with options guests need to feel productive, nourished, recharged and relaxed. The 123-room EVEN Hotel Seattle – Downtown/South Lake Union, offers a world-class Athletic Studio with best-in-class cardio, stretch and strength training equipment. Guest rooms include a fitness zone with dedicated workout space with in-room equipment and guests can access 18 different in-room workout videos that range from 10 to 30 minutes. For dining, Cork & Kale café offers healthy to indulgent made-to-order options for breakfast and dinner. The hotel will also feature more than 2,000 square feet of meeting space.
The Staybridge Suites brand is designed for upscale travelers who are spending an extended time away from home for business, relocation or leisure. The 112-room, urban-style Staybridge Suites Seattle – Downtown/South Lake Union features a mix of studio and one-bedroom suites as well as amenities including complimentary daily hot breakfast buffet and evening reception, guest laundry and a 24-hour business center.
NOBLE and IHG announce the opening of Dual-Branded EVEN Hotel and Staybridge Suites Hotel in Downtown Seattle
Sandestin Investments, LLC (SDI) has received a development order from the Walton County Board of County Commissioners to proceed with the building of a new 250-room full-service hotel and conference center. The Sandestin Hotel and Conference Center will be located adjacent to the Baytowne Conference Center at Sandestin Golf and Beach Resort. This four-star hotel is the first new development within Sandestin Golf and Beach Resort in over 4 years. Construction will commence in August 2018 with completion projected for April 2020.
"To remain competitive, locally, regionally and nationally, we identified the need to provide new product, new services and new amenities," stated Sara Becnel, Executive Director, Sandestin Golf and Beach Resort. "We are excited to bring this full-service hotel and conference center to Sandestin's myriad of offerings."
The new full-service hotel will include a three-meal restaurant, a lobby bar, room service, a luxury spa, a fitness facility, a signature rooftop pool and bar allowing Sandestin Golf and Beach Resort to better meet the needs of our leisure traveler as well as expand our group business. "This hotel will bring a fresh new guest experience and offer something to the resort that is not currently available," added Becnel.
Sandestin Investments to Build New Hotel
IHG signs double hotel deal in Egypt with Arabia Hotels
IHG (InterContinental Hotels Group), one of the world’s leading hotel companies, announced the signing of two new hotels in Giza, Egypt - Holiday Inn Giza Sun Capital and Staybridge Suites Giza Sun Capital, in partnership with Arabia Hotels, a subsidiary of Arabia Holding. The announcement was made at the Arabian Travel Market 2018. The new development aligns with IHG’s strategy for portfolio expansion across Middle East and North Africa (MENA), by strengthening the presence in primary markets.
Scheduled to open in 2023, and with rooms directly overlooking the Pyramids, the 200-room Holiday Inn Giza Sun Capital and 150-rooms Staybridge Suites Giza Sun Capital will be the first IHG hotels to open in the area. Both hotels will be part of Sun Capital, a mixed-use project that will include the largest commercial area in Egypt, a luxury commercial mall - the first outlet mall in Africa, an Egyptian Cultural themed park, an international university and an international school. Additionally, the hotels are strategically located to carter to business, leisure and long stay travellers, sitting 30 minutes away from the city centre, and a convenient 15-minute drive from the 6th October Airport.
Rezidor Hotel Group AB (REZT), publicly listed on Nasdaq Stockholm, Sweden and part of Radisson Hotel Group, is proud to announce the signing of the first ever Radisson RED in the Nordics, scheduled to open in Iceland’s capital, Reykjavik, by 2020.
Radisson RED is Radisson Hotel Group’s upscale, select service hotel brand that presents a playful twist on the conventional. Radisson RED hotels inject new life into hospitality through informal services where anything goes, a social scene that’s waiting to be shared and bold design that kick-starts the fun.
“We are thrilled to introduce our bold Radisson RED brand to another vibrant and urban capital, Reykjavik, where tourism is booming because of its many natural wonder and beauty’’ said Elie Younes, Executive Vice President & Chief Development Office, Radisson Hotel Group.
The newest Radisson RED hotel – that joins Brussels, Campinas, Cape Town, Glasgow and Minneapolis – will bring Radisson Hotel Group’s Icelandic portfolio to four hotels open or in development. Current hotels include the boutique Radisson Blu 1919 Hotel, Reykjavik in the city’s downtown area, the newly renovated Radisson Blu Saga Hotel, Reykjavik located in the west-town district, and the convenient Park Inn by Radisson Reykjavik Keflavik, located just five kilometers from Keflavik International Airport.
Radisson RED heads north to Reykjavik, Iceland
Radisson Hotel Group announces nine new hotel openings in the first quarter of 2018
Rezidor Hotel Group AB (REZT), publicly listed on Nasdaq Stockholm, Sweden and part of Radisson Hotel Group announces nine new hotel openings representing close to 1,700 rooms in the first quarter of 2018. This includes the addition of the Radisson Blu Hotel, Dubai Waterfront – a new 432-room flagship named the 'friendliest five-star hotel in Dubai'.
"2018 is off to a great start for Rezidor with great new signings and openings, following the launch of Radisson Hotel Group at IHIF, Berlin. Our new global entity, a new brand architecture, a new five-year operating plan and a renewed asset-right development strategy is in motion, and the first quarter development results show a positive progression across EMEA," said Elie Younes, Executive Vice President & Chief Development Officer, Radisson Hotel Group.
One of the key milestones in Q1 2018 was the recognition of Radisson Blu as Europe's largest upper-upscale hotel brand since 2010, according to the global ranking by MKG Hospitality-ON. The brand leads the European hotel market in size and scale, making it number one across the 28 European Union nations plus Norway, Switzerland, Turkey and the Baltics.
Hilton, signed a management agreement with Green Coffee Agro Industry PLC to become the first international hotel operator to welcome travllers to the city of Mekelle.
Patrick Fitzgibbon, senior vice president of development, Europe, Middle East & Africa, Hilton said: "We’re approaching our 50th anniversary of operating in Ethiopia and in recent years we’ve put significant focus on building our presence here. With the addition of Hilton Mekelle we now have five hotels in development across the country. This growth comes as a result of relationships we are building with strong local partners and we’re proud to be working alongside Mr. Tadele Abraha, who is one of Ethiopia’s leading exporters, in developing this hotel.”
Construction is already underway of a 15 storey tower building in the new downtown Mekelle on Hawelti Road within walking distance of the Martyrs’ Monument. The location allows ease of access to important local landmarks such as the Mekelle Stadium and lies within a ten-minute drive of Alula Aba Nega Airport. The property will consist of 200 guest rooms, including 19 suites, along with an array of food and beverage outlets including a rooftop restaurant offering enviable views of the city.
Hilton to open first International Hotel In Mekelle
Further strengthening its global presence, Rotana, one of the leading hotel management companies in the region with hotels across the Middle East, Africa and Turkey, has announced signing a new management agreement in the capital of Egypt at Arabian Travel Market (ATM) 2018, the leading global event for the Middle East inbound and outbound travel industry, which is taking place from 22 – 25 April in Dubai. The agreement for a new 200-room five-star in New Cairo City will bring the company’s total inventory in the country to 726 keys.
Marking the company’s strong presence at the annual industry event, Rotana is sharing key updates about its robust pipeline of 48 properties that are scheduled for opening before 2020. The company currently operates 16,161 keys across its 60 hotels in 23 markets and with the launch of the hotels under construction, Rotana will have a presence in 40 cities globally.
Among key Rotana hotels on display at the high-profile exhibition, which attracts more than 28,000 buyers and travel trade visitors over four days at the Dubai International Convention and Exhibition Centre (DICEC), include the company’s three latest openings in the UAE.
Rotana announces new five-star hotel in Egypt’s New Cairo City
Afghanistan President Mohammad Ashraf Ghani witnessed the contract signing of three Asian Development Bank-financed (ADB) energy contracts, which will help Afghanistan enhance energy security and efficiency, boost energy supply, and strengthen the country’s cross-border trade in energy.
President Ghani was joined by Ashok Bhargava, Director of Energy Division of ADB’s Central and West Asia Department; Samuel Tumiwa, ADB Country Director for Afghanistan; cabinet ministers; and members of parliament at the ceremony. The contracts, totaling $80 million, are part of an overall $415 million grant, which includes $188.23 million from ADB’s Special Funds; $225.77 million in cofinancing from the Afghanistan Infrastructure Trust Fund (AITF), supported by the Governments of Belgium, Canada, Germany, the Netherlands, and the United States; and $1 million from the People’s Republic of China Poverty Reduction and Regional Cooperation Fund.
Afghanistan highly relies on energy imports from neighboring countries to meet its domestic demand. Despite significant progress since 2002, only about 32% of the population has access to grid-connected electricity, which increases the cost of doing business and is detrimental to the environment.
The contracts include construction of (i) new 220-kilovolt (kV) substation in Bamyan province and expansion of 220/20 kV Doshi substation; (ii) 20,000 new household connections in Bamyan; and (iii) 180-kilometer 220-kV transmission line from Doshi to Bamyan, which will help expand the grid to at least 8 additional provinces.
ADB helps to enhance Energy Security, Connectivity in central Afghanistan
The Government of India and the World Bank signed a $125 million agreement to support India in developing an innovative biopharmaceutical and medical devices industry, which is globally competitive and addresses the country’s major concerns around barriers to affordable healthcare.
The Innovate in India for Inclusiveness Project (I3) will support Government of India’s Biotechnology Industry Research Assistance Program (BIRAC), set up five years ago to support innovative start-ups and collaborations through strategic partnerships.
This project, will nurture next generation technical skills; provide companies with advanced shared facilities to conduct clinical validation; link clinical trial sites with networks of expert advisors and international bodies; and strengthen all institutions involved in the facilitation and adoption of global innovations, technologies, and licensing models.
BIRAC will now scale-up its efforts across the industry and focus on providing the ingredients that are currently missing in India’s biopharma innovation ecosystem. It will facilitate a more collaborative research and development environment (R&D), leverage the expertise of local and international players from both the public and private sectors, and make India more competitive. It will also help create an ecosystem that facilitates development of a continuous pipeline of products in the health sector.
This will help India emerge as a low-cost healthcare provider for the world.
Government of India and World Bank sign agreement to invest in Technology that addresses India’s Public Health Priorities
IFC, a member of the World Bank Group, the European Union, and Germany signed agreements to support the Ukrainian government’s work in reducing energy waste and greenhouse gas emissions in the residential sector.
Agreements were signed by IFC and EU likewise IFC and Germany to set up a new multi-donor fund to help boost energy efficiency in Ukraine. Under the agreement, IFC will initially manage up to 53 million euros of funding from the EU (43 million euros) and Germany (10 million euros).
Resources from the fund will co-finance programs of the Ukrainian Energy Efficiency Fund (EEF), a new initiative developed by the Ukrainian government, with combined support from the EU and Germany to provide grants to homeowners’ associations for energy-efficiency renovations in multi-family buildings. Ukraine has one of the largest housing stocks in Europe, but many homes are old and inefficient, with poorly insulated buildings that lose as much as 50 percent of their heat. Furthermore, energy is highly subsidized in Ukraine.
EU, IFC, Germany Partner to establish new fund, support Energy Efficiency in Ukraine
EIB expands financing of care properties in Finland
The area of Hoivatilat’s activity covers nearly 95% of the Finnish population.
The European Investment Bank (EIB) and Finnish care facilities provider Hoivatilat have agreed on EUR 50 million of long-term financing. The first loan of EUR 30 million has now been signed. It will support Hoivatilat’s investment initiatives over the 2018-2019 period, during which the company aims to build 58 new care facilities. At project completion it is expected that a total of nearly 2,700 additional care places will be available across Finland.
Vice-President Alexander Stubb, responsible for EIB-lending in Northern Europe, said: “Hoivatilat plays an important enabling role in the Finnish care sector. With an ageing population, hospitals and care service providers across the EU need to gear up for the future of healthcare. I am proud that the Bank can support this particular project, which will allow new care facilities to be built, and I am positive that we will see further EIB support for the Finnish care sector soon.”
Finnish healthcare remains a priority for the European Investment Bank, as shown by over EUR 1 billion of total support over the last five years. Apart from medically focused mid-caps, support was made available to the University Hospital of Oulu, the Central Hospital of Mikkeli and the Espoo rehabilitation hospital, to name but a few.
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