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Blackstone will acquire Gramercy for US$ 7.6 bn
Vodafone to buy Liberty Global Europe units for US$ 22.7 bn
IFF will acquire Frutarom in a US$ 7.1 bn deal
07 - 12 May 2018
Nestle is paying US$ 7.1 billion to sell Starbucks Coffee
IHG adds 13 luxury and upscale hotels in UK
Walmart buys 77% stake in Flipkart
for US$ 16 bn
Read article on globalfdi.net
Walmart Inc. announced it has signed definitive agreements to become the largest shareholder in Flipkart Group. The investment will help accelerate Flipkart's customer-focused mission to transform commerce in India through technology and underscores Walmart’s commitment to sustained job creation and investment in India, one of the largest and fastest-growing economies in the world.
Subject to regulatory approval in India, Walmart will pay approximately $16 billion for an initial stake of approximately 77 percent in Flipkart, formally Flipkart Private Limited.
“India is one of the most attractive retail markets in the world, given its size and growth rate, and our investment is an opportunity to partner with the company that is leading transformation of eCommerce in the market,” said Doug McMillon, Walmart’s president and chief executive officer. “As a company, we are transforming globally to meet and exceed the needs of customers and we look forward to working with Flipkart to grow in this critical market. We are also excited to be doing this with Tencent, Tiger Global and Microsoft, which will be key strategic and technology partners. We are confident this group will provide Flipkart with enhanced strategic and competitive advantage. Our investment will benefit India providing quality, affordable goods for customers, while creating new skilled jobs and fresh opportunities for small suppliers, farmers and women entrepreneurs.”
Founded in 2007, Flipkart has led India’s eCommerce revolution. The company has grown rapidly and earned customer trust, leveraging a powerful technology foundation, including artificial intelligence, and emerging as a leader in electronics, large appliances, mobile and fashion and apparel.
Walmart buys 77% stake in Flipkart for US$ 16 billion
Liberty Global plc announced that it has entered into a definitive agreement to sell its operations in Germany, Hungary, Romania and the Czech Republic to Vodafone Group plc (“Vodafone”) for a total enterprise value of approximately $22.7 billion on a U.S. GAAP basis, as compared to €18.4 billion ($22 billion) on an EU-IFRS basis.
These four businesses represented approximately 28% of Liberty Global’s consolidated 2017 operating cash flow (“OCF”), which does not include its 50% share of OCF from the VodafoneZiggo joint venture in the Netherlands.
The transaction will be notifiable to the European Commission for regulatory approval, which is expected to occur mid-2019.
After completion of the transaction, Liberty Global will continue to be Europe’s leading cable television and broadband provider, with consolidated operations in the United Kingdom, Ireland, Belgium, Switzerland, Poland and Slovakia. Together, these country operations reach 24 million homes, account for 26 million video, broadband and fixed-line telephony subscribers and 6 million mobile services. In addition, Liberty Global owns 50% of VodafoneZiggo, a joint venture in the Netherlands with 4 million customers subscribing to 10 million fixedline and 5 million mobile services.
Vodafone to buy Liberty Global Europe units
for US$ 22.7 billion
Bridge Data Centres expands with acquisition of data centres in Malaysia
Bridge Data Centres (Bridge), a regional data centre services provider headquartered in Singapore, announced the completion of its acquisition of two data centres located in Cyberjaya, Malaysia, from Permodalan Nasional Berhad (PNB), a Malaysian Government Pension Fund. The acquisition will support Bridge's expansion of its Asia Pacific operations, as the company looks to provide reliable, scalable and low-latency colocation services for the region's rapidly-growing digital economy. Bridge is a Bain Capital Private Equity portfolio company and maintains offices in Mumbai, Kuala Lumpur and San Francisco.
Bridge's two new data centres, renamed MY01 and MY02 under Bridge Data Centres Malaysia Sdn Bhd, comprise approximately one million square feet of data centre facilities and 20 megawatts (MW) of critical IT load. MY01 and MY02 serve many domestic and global blue-chip customers from a diverse set of industries, and Bridge is planning to expand this footprint in Cyberjaya with a contiguous development of a further 20 MW, to cater for its large customer's scaling needs, as Asia Pacific prepares to become the most important data centre regional market by 2020, according to industry analysts.
Nokia acquires SpaceTime Insight
Nokia has acquired SpaceTime Insight to expand its Internet of Things (IoT) portfolio and IoT analytics capabilities, and accelerate the development of new IoT applications for key vertical markets.
Based in San Mateo, California, with offices in the U.S., Canada, U.K., India and Japan, SpaceTime Insight provides machine learning-powered analytics and IoT applications for some of the world's largest transportation, energy and utilities organizations, including Entergy, FedEx, NextEra Energy, Singapore Power and Union Pacific Railroad. Its machine learning models and other advanced analytics, designed specifically for asset-intensive industries, predict asset health with a high degree of accuracy and optimize related operations. As a result, SpaceTime Insight's applications help customers reduce cost and risk, increase operational efficiencies, reduce service outages and more.
The acquisition supports Nokia's software strategy by bringing SpaceTime Insight's sales expertise and proven track record in IoT application development, machine learning and data science to the Nokia Software IoT product unit. It will strengthen Nokia's IoT software portfolio and IoT analytics capabilities, and accelerate the development of Nokia's IoT offerings to deliver high-value IoT applications and services to new and existing customers.
Blackstone will acquire Gramercy for US$ 7.6 billion
Gramercy Property Trust announced that it has entered into a definitive agreement with affiliates of Blackstone Real Estate Partners VIII, under which Blackstone will acquire all outstanding common shares of Gramercy for $7.6 billion.
Commenting on the acquisition, Gordon DuGan, Trustee and Chief Executive Officer of Gramercy said, “I speak for Ben Harris, Nick Pell and the entire team at Gramercy to say that we are very pleased to enter into this transaction. We believe this validates the quality of the portfolio and platform that we have built. Entering into this transaction with Blackstone fulfills our Board of Trustees’ mission to maximize shareholder value.”
“We are pleased to acquire Gramercy and its strong portfolio of assets,” said Tyler Henritze, head of US real estate acquisitions for Blackstone.
Completion of the transaction, which is currently expected to occur in the second half of 2018, is contingent upon customary closing conditions, including the approval of Gramercy's shareholders, who will vote on the transaction at a special meeting on a date to be announced. The transaction is not contingent on receipt of financing by Blackstone.
Royal Dutch Shell plc announces an agreement to sell its entire stake in Canadian Natural Resources Limited (“Canadian Natural”)
Shell’s subsidiary, Shell Gas B.V. (“SGBV”), has entered into an underwriting agreement with Goldman Sachs & Co, RBC Capital Markets, Scotiabank and TD Securities, for the sale of 97,560,975 shares in Canadian Natural, representing its entire interest in Canadian Natural resulting in total pre-tax proceeds of approximately $3.3 billion.
Shell sells its interest in Canadian Natural Resources Limited for $3.3 billion
Risen Energy Co., Ltd., a Chinese producer of photovoltaic modules listed on the market with Class A shares, officially began the construction of facilities under a Engineering, procurement and construction contract (EPC) in Nuwakot, Nepal. Risen Energy is the general contractor for the 25 MW photovoltaic solar farm. The project represents one of the efforts of the Chinese solar panel manufacturer to comply with the Chinese Government's Silk Road and Belt initiative by exporting products, brands and technologies abroad, as well as being a milestone that demonstrates the way in which a solution professional and efficient photovoltaic solar power from Chinacan solve the electricity shortage in Nepal . Once completed, it is expected that the power plant will become the first large-scale ground photovoltaic park.
During the opening ceremony, Nepal Energy MinisterBarshaman Pun, Nepal Electricity Authority ExecutiveNutan Bhattrai and Risen Energy President Wang Hong witnessed the start of an important collaboration between China andChina . Nepal in relation to environmentally friendly energy.
Risen Energy expands outside China with the first photovoltaic park in Nepal
21st Century Fox, announced a definitive agreement with Sinclair Broadcast Group and Tribune Media Company to acquire seven television stations for approximately $910 million. The transaction will grow Fox Television Stations' (FTS) coverage to nearly half of all U.S. households, and its market presence to 19 of the top 20 DMAs, including the addition of key markets that align with Fox's sports rights.
Jack Abernethy, CEO of Fox Television Stations, said "This transaction illustrates Fox's commitment to local broadcasting and we are pleased to add these stations to our existing portfolio. With this acquisition, we will now compete in 19 of the top 20 markets and have a significantly larger presence in the west, which will enhance our already strong platform. This expansion will further enrich our valuable alignments with the NFL, including our new Thursday Night Football rights, MLB and college sports assets. We are also happy to add many talented Tribune employees to our group, some of whom we know well."
21st Century Fox has also entered into new network affiliation agreements with Sinclair (and licensees of certain stations to which Sinclair provides services), and will grant Sinclair options to acquire two of its stations, the CW-affiliate WPWR in Chicago, IL, where FTS currently has a duopoly, and FOX-affiliate KTBC in Austin, TX for potential proceeds of approximately $15 million and $160 million, respectively.
21st Century Fox to acquire seven stations from
for $910 million
Global leader in sustainability and utility-scale solar production, SkyPower, has announced an estimated $1.3 billion foreign direct investment in Uzbekistan to build 1,000 MW of solar energy generation capacity throughout the country. This project will bring the largest foreign direct investment in Uzbekistan’s history.
Uzbekistan and SkyPower also signed the first Power Purchase Agreement (PPA) in the country’s history, whereby the government will be purchasing power from an international and private company. Uzbekistan’s President Shavkat Mirziyyoyev has signed a decree signifying the government’s full support of the project and sovereign guarantees.
SkyPower will be the first independent power producer in the history of Uzbekistan, working closely with state-owned utility company Uzbekenergo. This project is also the first public-private partnership between Uzbekistan and a truly North American company.
François-Philippe Champagne, Minister of International Trade for the Government of Canada, remarked, “Growing Canada’s cleantech and renewable sectors and encouraging the export of locally developed ideas and solutions that benefit the world is a priority for our government. I am pleased to see industry leaders like SkyPower Global help us towards that goal. This historic partnership with UzbekEnergo and the government of Uzbekistan will bolster growth in the region and help establish Canadian expertise in this fast-growing sector. I commend the SkyPower team for thinking big!”
SkyPower will invests
US$ 1.3 billion in solar energy in Uzbekistan
Starbucks Corporation, announced it will form a global coffee alliance with Nestlé S.A. to accelerate and grow the global reach of Starbucks brands in Consumer Packaged Goods (CPG) and Foodservice. With a shared commitment to ethical and sustainable sourcing of coffee, this alliance will transform, expand and elevate both the at-home and away-from-home coffee and related categories around the world.
As part of the alliance, Nestlé will obtain the rights to market, sell, and distribute Starbucks, Seattle’s Best Coffee, Starbucks Reserve, Teavana™, Starbucks VIA and Torrefazione Italia packaged coffee and tea in all global at-home and away-from-home channels. Nestléwill pay Starbucks $7.15 billion in closing consideration, and Starbucks – with a focus on long-term shareholder value creation – will retain a significant stake as licensor and supplier of roast and ground and other products going forward. Additionally, the Starbucks brand portfolio will be represented on Nestlé’s single-serve capsule systems.
This global alliance combines the strength and affinity of the Starbucks brand with the global reach of Nestlé and its iconic coffee brands, creating new growth opportunities in the established North American markets and unlocking expansion in international markets. In the United States, it also enhances Nestlé’s retail and Foodservice presence in coffee, complementing its position in instant coffee and super-premium single serve with Starbucksstrong presence in K-cup® pods. As part of this perpetual global license agreement, Starbucks will lead in sourcing, roasting and Starbucks global brand management for the alliance, while the two companies will work closely together on innovation and go-to-market strategies to bring the best coffee to customers around the world.
Marfrig Global Foods, one of the world’s largest animal protein producers, announces that it reached an agreement for the acquisition of 51% of the membership interests in National Beef Packing Company, LLC, the fourth-largest beef processor in the United States. Marfrig has agreed to pay US$ 969 million for the equity interest and, once the transaction is concluded, will become the world’s second-largest beef processor, with consolidated sales of R$ 43 billion (US$ 13 billion).
Founded in 1992, National Beef has a slaughtering capacity of 12,000 heads of cattle per day and is headquartered in Kansas City. It has 2 slaughterhouses located in Dodge City and Liberal, Kansas and accounts for approximately 13% of total U.S. cattle slaughtering capacity. National Beef is one of the most profitable beef companies in the United States. Once the transaction closes, Leucadia will transfer control to Marfrig and remain a minority shareholder in National Beef, with a 31% interest. The US Premium Beef, an association of American producers, will hold 15% and other shareholders with the remaining 3%.
With the acquisition of National Beef, Marfrig achieves two key objectives outlined in its strategic plan. First, it consolidates its strong position in the beef industry, which is the Marfrig’s original core business. A leader in the U.S. beef industry, National Beef exports to 40 countries, including Japan, which is a market currently closed to beef exports from Brazil. In 2017, Marfrig reported adjusted EBITDA of R$ 1.7 billion (US$ 516 billion). With National Beef, its pro-forma EBITDA will increase to R$ 3.4 billion (US$ 1.0 billion).
Marfrig Global Foods acquires control of U.S.-based National Beef for US$ 969 million
Mondelēz International announced an agreement with The Riverside Company, a global private equity firm, and other shareholders, including Founder Kathleen King, to acquire Tate’s Bake Shop for approximately $500 million. Known for its signature thin-and-crispy cookies with simple, authentic, high-quality ingredients, Tate’s is a fast growing, premium cookie and baked goods brand.
Founded in 2000 on Long Island, N.Y., Tate’s has cultivated a devoted consumer following across the country. With a strong founder story and on-trend products, Tate’s has been one of the fastest growing biscuit brands in the United States over the last 12 months. The brand’s sales have quadrupled over the past five years. In 2018, retail sales in measured channels have grown by more than 40 percent through March.
“Tate’s is a great strategic fit that will complement our portfolio of beloved snacks brands,” said Dirk Van de Put, Chairman and Chief Executive Officer. “With a unique and authentic brand and truly delicious products, this acquisition gives us an attractive entry point into the fast growing premium cookie segment. Tate’s has demonstrated exceptional and very profitable growth, and we look forward to working with the Tate‘s management team to expand distribution and build upon that success.”
Mondelēz International to acquire Tate’s Bake Shop
for $500 million
International Flavors & Fragrances Inc. and Frutarom announced that they have entered into a definitive agreement under which IFF will acquire Frutarom in a cash and stock transaction valued at approximately $7.1 billion, including the assumption of Frutarom’s net debt.
By combining with Frutarom, IFF is accelerating its Vision 2020 strategy to create a global leader in taste, scent and nutrition. The combination unites two industry-leading, innovative companies with complementary customers, capabilities and geographic reach, resulting in more exposure to fast growing end markets and an enhanced platform to deliver sustainable, profitable growth. The combined company’s customers will have access to comprehensive and differentiated integrated solutions with increased focus on naturals and health and wellness.
International Flavors & Fragrances Inc. will acquire Frutarom in a US$ 7.1 bn deal
Novolex, a portfolio company of The Carlyle Group and an industry leader in packaging choice and sustainability, announced it will acquire The Waddington Group from Newell Brands, Inc. The transaction is expected to close in approximately 60 days.
Headquartered in Covington, Ky., The Waddington Group is a global manufacturer and marketer of packaging and disposables serving the foodservice, bakery, deli, produce and confectionery markets. Novolex is a leading provider of packaging solutions serving retail, grocery, food service, hospitality, institutional and industrial markets.
The Waddington Group has a footprint that includes 16 sites in the U.S., Canada, Ireland, The Netherlands and the U.K., and approximately 3,000 employees worldwide. “The Waddington Group is a great fit for Novolex. The company has a strong track record of developing innovative packaging solutions and, like Novolex, is a market leader in sustainability,” Stan added.
The acquisition of The Waddington Group is Novolex’s eighth since 2012.
Novolex to acquire the Waddington Group from Newell Brands
Univar to acquire Earthoil
Univar Inc., a global chemical and ingredient distributor and provider of value-added services announced that its wholly owned subsidiary, Univar Ltd., has reached an agreement to acquire Earthoil ("Earthoil Plantations Limited"), a subsidiary of Treatt plc, the London-listed manufacturer and supplier of innovative ingredient solutions for the flavor, fragrance, beverage, and consumer products industries. In 2017, the Company generated approximately $11 million in annual sales. The acquisition is expected to close at the end of May 2018.
Earthoil is a supplier of pure, organic, fair trade essential and cold-pressed vegetable seed oils used in the naturals, organic beauty, and personal care markets. The Company has well-established relationships with leading international personal care brands and provides brand owners with naturally sourced products and ingredients such as marula, moringa, argan, avocado, baobab and other natural vegetable and essential oils. Vegetable-origin and naturally-derived green and ethical ingredients are a frequent consumer demand in the beauty and personal care market.
Eli Lilly agreement to acquire ARMO BioSciences
for US$ 1.6 billion
Eli Lilly and Company and ARMO BioSciences, Inc. announced a definitive agreement for Lilly to acquire ARMO for $50 per share, or approximately $1.6 billion, in an all-cash transaction. ARMO BioSciences is a late-stage immuno-oncology company that is developing a pipeline of novel, proprietary product candidates designed to activate the immune system of cancer patients to recognize and eradicate tumors.
The acquisition will bolster Lilly's immuno-oncology program through the addition of ARMO's lead product candidate, pegilodecakin, a PEGylated IL-10 which has demonstrated clinical benefit as a single agent, and in combination with both chemotherapy and checkpoint inhibitor therapy, across several tumor types. Pegilodecakin is currently being studied in a Phase 3 clinical trial in pancreatic cancer, as well as earlier-Phase trials in lung and renal cell cancer, melanoma and other solid tumor types. ARMO also has a number of other immuno-oncology product candidates in various stages of pre-clinical development.
Advant Medical undergoes global expansion into
Advant Medical, a global leader in Medical Device contract services and manufacturing solutions, recently announced a significant investment for its expansion into Costa Rica.
The Costa Rican expansion saw the opening of a 13,000 square foot facility with a 2,200 square foot, Class 8, cleanroom with capacity to manufacture Class I, II, III Medical Devices. Advant has also invested heavily in new state-of-the-art equipment and machinery to support its manufacturing capability in the region.
Advant is a high-performance solution provider of packaging and subcontract manufacturing for the Medical Device industry. The company is widely regarded for its expertise in Medical Devices in leading neuro- revascularization device assembly, catheter assembly incorporating electro-mechanical drive systems and high-end, specialty dispenser manufacturing.
Varian acquires Taiwan's Distributor COOP
Varian announced it has acquired Cooperative CL Enterprises (COOP), a leading distributor of radiotherapy equipment in Taiwan. COOP currently employs 45 people, and has represented Varian in Taiwan for more than 40 years.
"With the acquisition of COOP, Varian will be able to work and collaborate more closely with our customers in Taiwan as well as providing more efficient and comprehensive services," said Kevin O'Reilly, president of Asia Pacific for Varian.
"COOP has built a strong team in Taiwan," said Xiao Zhang, vice president and managing director for Varian in the region. "The team, led by Christina Lin as the new managing director of Varian Taiwan, is now able to directly access all Varian resources and tools for products and services. We hope to provide enhanced service for our customers and expand the access of quality and cost-effective cancer care solutions in Taiwan, as well as engage in more clinical research and collaborations with leading hospitals."
Rotana has opened two new hotels in Turkey
Making its foray into the European side of Istanbul, Rotana, one of the leading hotel management companies in the region with hotels across the Middle East, Africa and Turkey, has opened two new hotels, Centro WestSide and WestSide Arjaan by Rotana, in partnership with Mar Yapı, one of Turkey’s innovative real estate development companies.
Strategically located on the popular Basin Express road in the Güneşli neighbourhood of Istanbul, the economic, cultural and historic capital of Turkey, the contemporary, elegant properties are in close proximity to key landmarks in the city, including Istanbul Atatürk Airport, modern business plazas, major shopping malls and leading exhibition and convention centres.
Mr Münir Özkök, Chairman of Mar Yapı, said: “Basin Express has quickly emerged as the newest destination with investors and project managers eyeing it. Mar Yapi has recognised this fact, hence, we have worked on the development of the area to become a destination of its own. With the international and national projects such as Divan, Yoo and Wanda, we caught the attention of investors in a very short time. Rotana, as one of the leading hotel management companies in the Middle East, Africa and Turkey, is a major example of this as they joined Mar Yapi in this project, not only as a management company but as an investor as well, which also marks the company’s first step into the European side. Our trust and confidence in our country has no doubt motivated the foreign investors and Rotana has showed great interest and belief in Turkey through their cooperation with us.
We laid out the foundation of this magnificent project with Rotana back in 2016 and we are very proud to see it inaugurated.”
The triangle shaped building of Centro WestSide and WestSide Arjaan by Rotana has a striking appearance and was designed by the award winning architecture firm Suyabatmaz Demirel. The building itself won the Future Project Award in 2013 at the famous MIPIM Real Estate Exhibition in Cannes, France.
Nasser Al Nowais, Chairman of Rotana, said: “We are delighted to open these two new properties, which join our two existing hotels in Istanbul to double Rotana’s Turkish presence and increase our global room count to 16,466. Our smart and stylish Centro brand provides an affordable lifestyle hotel concept, whereas WestSide Arjaan by Rotana offers guests a home away from home with its elegant and comfortable hotel serviced apartments. By opening these properties side-by-side, we are catering to the needs of both business and leisure travellers, whilst servicing the increasing demand for high-quality accommodation in Istanbul. We would like to thank everyone at Mar Yapı for placing their trust and confidence in our abilities to manage these outstanding properties, and look forward to providing a delightful guest experience.”
Offering affordable luxury and effortless comfort, the stylish four-star deluxe hotel, Centro WestSide, features 152 rooms and suites, each catering to the needs of modern-day travellers, from individuals visiting Istanbul on business, to budget-conscious families looking to explore the city from a convenient base. Designed to suit the needs of long-stay visitors, WestSide Arjaan by Rotana offers 153 fully-furnished one and two-bedroom serviced hotel apartments for cosy living.
IHG accelerates growth in China with signing of 10 new deals under 7 brands
InterContinental Hotels Group (IHG), one of the world’s leading hotel companies, has announced the signing of ten new deals under seven of its brands in Western China. The ten hotels will span several different tiered cities and well-known destinations in Sichuan, Chongqing, Shaanxi, Yunnan, Gansu, Guizhou Province etc. Building on the momentum of its existing and successful multi-brand hotel portfolio in the area, IHG will further strengthen its leadership and tap into the large potential of this fast-growing market.
Boasting distinctive natural beauty and rich cultural heritage, the western area of China has been a worldwide attraction. Enjoying great opportunities brought by policies like the Belt and Road Initiative, the cities’ economies continue to boom with the acceleration of urbanisation, as well as the upgrading of transportation and other supporting facilities. According to world leading hotel and tourism consultancy, Horwath HTL, market expectations for the overall performance of the hotel sector in Western China have risen significantly in recent years.
InterContinental Hotels Group has announced plans to expand its luxury and upscale estate in the UK. IHG has entered into a conditional agreement with Foncière des Régions (“FdR”), to rebrand and operate 12 high quality open hotels (2.2k rooms) and one pipeline hotel (185 rooms) into its portfolio across the UK.
This deal will establish IHG as the leading luxury hotel operator in the UK, taking it to more than 2k rooms in this valuable, fast growing segment. It will expand the presence for the InterContinental brand, and enable IHG to launch its leading luxury boutique brand, Kimpton Hotels & Restaurants in the UK, adding multiple hotels for the brand in prime locations in major city centres, including London, Manchester and Edinburgh. This marks an important step in IHG’s plans to take the brand global, building on the first signings for Asia and China last year, and will act as a catalyst for Kimpton’s growth in Europe.
This agreement will also strengthen IHG’s position in the upscale segment in the UK, and will establish a presence for its new upscale brand, which will be launched later this year. The brand, principally focused on conversion opportunities, will capitalise on the significant opportunity IHG has identified to offer consumers an informal but differentiated experience in the upscale segment, whilst offering owners a strong return on investment. These hotels will provide high-quality representation for the brand in IHG’s largest market within the Europe, Middle East, Asia & Africa (EMEAA) region, where it will initially be launched.
Keith Barr, Chief Executive Officer, IHG commented: “We are focused on continuing to expand our leadership in luxury and upscale, which are both high-value segments with significant growth potential. Bringing Kimpton to such an important market as the UK is a key part of our plans, as is the introduction of our new upscale brand, which will provide an exciting, differentiated offering to both guests and owners. Together with the recent addition of Regent Hotels & Resorts to our portfolio, we are building real momentum behind our plans to deliver industry-leading net rooms growth.”
Radisson Hotel Group, one of the world’s leading hospitality companies, has unveiled exciting plans to launch its first Park Inn by Radisson hotel in Malaysia.
Continuing the rapid recent expansion of this colorful midscale concept, the Group has signed a management agreement for Park Inn by Radisson Putrajaya - a new-build hotel currently under development in De Centrum City, close to Malaysia’s administrative capital, Putrajaya, and just 20 kilometers from Kuala Lumpur.
Nestled midway between Kuala Lumpur and Kuala Lumpur International Airport (KLIA), Park Inn by Radisson Putrajaya is perfectly positioned for travelers seeking convenient, contemporary and well-connected accommodation.
Park Inn by Radisson Putrajaya will offer 191 contemporary rooms, all featuring comfortable beds and guest-friendly facilities such as complimentary Wi-Fi, TVs with international satellite channels, ergonomic working areas and modern bathrooms with power showers.
Radisson Hotel Group, plans to launch its first Park Inn by Radisson hotel in Malaysia
Radisson, announced the opening of Radisson Hotel Paulista São Paulo
Radisson, one of the best- recognized hotel brands, announced the opening of Radisson Hotel Paulista São Paulo. The hotel has a prime location in the Jardins neighborhood, which is known for its upscale restaurants, chic fashion boutiques and museums. Guests can easily get around the city with the hotel’s proximity to the Paraíso and Brigadeiro subway stations.
The hotel offers 371 spacious guest rooms and suites. Guests have access to a fitness center, business center, outdoor pool and a complimentary breakfast. There are several onsite dining options at the hotel including an award-winning restaurant featuring international cuisine, along with a Japanese restaurant and a lounge bar. Room service is also available 24 hours. The hotel can serve as a venue for meetings and special events. A variety of flexible meeting and banquet space is available that can accommodate up to 300 people.
Park Inn by Radisson, a colorful and dynamic midscale hotel brand, announced the opening of Park Inn by Radisson Mazatlán. The newly constructed hotel has a sleek and modern look and is conveniently located within walking distance to gorgeous beaches along the Pacific shoreline.
The hotel offers 118 guest rooms and suites. Guests have access to free Wi-Fi, a fitness center and complimentary parking. The hotel’s onsite dining option, Colorines Restaurant, offers a menu inspired by Mexican cuisine. Guests can also enjoy their meal in the comfort of their room by ordering room service.
The hotel can serve as a venue for corporate functions and special events. There is a flexible meeting space that can accommodate up to 35 people. Audiovisual equipment is also available.
“We are thrilled to open our hotel under the Park Inn by Radisson brand,” said Gabriela Alvarado Murguía, the hotel’s general manager. “The fresh and vibrant appearance of our new hotel, along with the excellent location and friendly staff will provide a fantastic experience for our guests.”
Park Inn by Radisson expands in Mexico with a new hotel opening in Mazatlán
Hyatt Hotels Corporation announced the opening of the 166-room Hyatt Centric Las Condes Santiago, and the opening of the 254-room Hyatt Centric San Isidro Lima, marking the Hyatt Centric brand’s entry into these two South American countries. Hyatt Centric Las Condes Santiago is the second Hyatt hotel in Chile, joining Hyatt Place Santiago/Vitacura, and Hyatt Centric San Isidro Lima is the first Hyatt hotel to open in Peru. Both new hotels are owned and managed by Talbot Hotels S.A., as part of franchise agreements entered into with a Hyatt affiliate.
Hyatt Centric Las Condes Santiago offers 166 guest rooms featuring a high-style, eclectic design and modern furnishings with local Chilean craftsmanship. Floor-to-ceiling windows invite guests to take in skyline views of the hotel’s unbeatable location right in the center of Santiago’s financial district, locally known as “Sanhattan.”
The first Hyatt hotel in Peru, Hyatt Centric San Isidro Lima is strategically located on Basadre Avenue near leading global corporations, foreign embassies, notable restaurants, Huaca Huallamarca archeological site, and Bosque El Olivar public park.
Hyatt Centric brand debuts in Peru and Chile
The World Bank to Support Implementation of a New National E-Tolling System
The World Bank will provide advisory services to support the implementation by the Roads Infrastructure Agency of the National Electronic Tolling System in Bulgaria. A contract for the provision of Reimbursable Advisory Services was signed today by Dipl. Eng. Doncho Atanasov, Chair of the Management Board of the Road Infrastructure Agency of Bulgaria, and Tony Thompson, World Bank Country Manager for Bulgaria, Czech Republic and Slovakia.
Under the contract, the World Bank will provide support for monitoring and quality assurance, expert and technical assistance, toll network and rate analysis and calculation, and technical communication support. A team of World Bank experts will also promote a transfer of knowledge and will assist Bulgaria in meeting EU directives on tolling.
The new engagement is a continuation of previous involvement, in which the World Bank has provided options for adopting a national tolling framework for Bulgaria. The model recommended by the World Bank incudes the introduction of e-tolling for heavy vehicles using on-board unit registering data that is based on the Global Navigation Satellite System, and e-vignette for light vehicles.
In January of this year, Bulgaria’s Road Infrastructure Agency signed a contract with a consortium led by Austria’s Kapsch TrafficCom to build a road toll system that is expected to triple annual revenues for the agency and boost the amount of funding available for road repairs.
The Government of India and the World Bank signed an additional financing of US $200 million to fund the National Nutrition Mission and support the Government of India achieve its goal of reducing stunting in children 0-6 years of age from 38.4% to 25% by the year 2022.
On December 1, 2017, the Government of India announced the new National Nutrition Mission. A large component of this Mission involves gradual scaling-up of the interventions supported by the ongoing World Bank assisted Integrated Child Development Services (ICDS) Systems Strengthening and Nutrition Improvement Project (ISSNIP) to all districts in the country over a 3-year period. The additional financing approved today will support the first phase scale up to 315 districts across all states and union territories (UTs).
“The Project will directly contribute to the Government of India’s renewed commitment to address the challenge of undernutrition under the recently announced POSHAN Abhiyaan. It will deepen the interventions of the ongoing ISSNIP, focus on improving quality and scaling-up to additional districts,” said Sameer Kumar Khare, Joint Secretary, Department of Economic Affairs, Ministry of Finance. “The focus will be on improving service delivery through better community engagement and introduction of performance-based incentives for ICDS field functionaries.”
Government of India and World Bank sign agreement for additional financing to India’s National Nutrition Mission
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