Roche to acquire Foundation Medicine for
US$ 2.4 bn
18-23 June 2018
PayPal Holdings to acquire Hyperwallet for US$ 400 mn
South32 to acquire Arizona Mining in
US$ 1.3 bn
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Pullman to open first hotel in Singapore
Veritas Capital backed Verscend to acquire Cotiviti
for US$ 4.9 bn
W. P. Carey will merge with CPA:17
in a US$ 6 bn deal
Cotiviti Holdings, Inc., a leading provider of payment accuracy and analytics-driven solutions focused primarily on the healthcare industry, and Verscend Technologies, Inc. (“Verscend”), a portfolio company of Veritas Capital (“Veritas”) and a leader in data-driven healthcare solutions, announced that they have entered into a definitive agreement whereby Verscend has agreed to acquire Cotiviti for $4.9 billion in cash.
The combined business will operate as a private healthcare information technology company with unique, data-driven capabilities. Together, the companies are expected to have greater impact in the healthcare IT market by increasing affordability, reducing waste and improving outcomes and quality as well as offer new opportunities to create substantial value for clients, including complementary solutions across multiple intervention points in the payment process.
Veritas Capital backed Verscend to acquire Cotiviti for US$ 4.9 billion
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Roche and Foundation Medicine, Inc. announced they have entered into a definitive merger agreement for Roche to acquire the outstanding shares of FMI’s common stock not already owned by Roche and its affiliates at a price of US$ 137.00 per share in cash. This corresponds to a total transaction value of US$ 2.4 billion on a fully diluted basis, and a total company value of US$ 5.3 billion on a fully diluted basis.
The merger agreement has been unanimously approved by the board of Roche and a Special Committee of the independent directors of FMI and by its full board of directors with the Roche designated directors abstaining from the deliberations and vote. All current members of the FMI board have indicated that they intend to tender their FMI shares in the tender offer.
Foundation Medicine, based in Cambridge, Massachusetts, is a market leading molecular information company dedicated to a transformation in cancer care, where each patient’s treatment is informed by a deep understanding of the molecular changes that contribute to their disease. Their services include a full suite of comprehensive genomic profiling (CGP) assays to identify the molecular alterations in a patient's cancer and match them with relevant targeted therapies, immunotherapies and clinical trials.
Roche to acquire Foundation Medicine for US$ 2.4 billion
Pharma major Lupin and Nichi-Iko announced that the two companies have entered into an agreement for the distribution, promotion and sale of Lupin’s recently-filed biosimilar Etanercept in Japan. Developed by YL Biologics, a joint venture between Lupin’s subsidiary Lupin Atlantis Holdings SA (LAHSA) and Yoshindo, the product will be launched by Nichi-Iko after receiving approval from the Pharmaceuticals and Medical Devices Agency (PMDA).
Kyowa (Lupin’s subsidiary in Japan) had submitted a New Drug Application (NDA) for Marketing Authorization to the Pharmaceuticals and Medical Devices Agency (PMDA) in March this year following the successful conclusion of its global Phase III study. The study was a multinational randomized double-blind controlled trial of 52 weeks duration which included more than 500 patients with rheumatoid arthritis (RA) in 11 countries. It compared YLB113’s efficacy and safety directly against Enbrel® of Amgen/Pfizer. The study was conducted at 110 rheumatology clinics across Japan, Europe and India. This study included over 260 Japanese patients from 62 rheumatology clinics, a scale that is unique for a global RA trial for Japan.
Lupin and Nichi-Iko announce partnership for commercialization of Etanercept in Japan
Wildflower Health, a leading mobile health software company, announced it has acquired the Circle Women's Health Platform, a mobile health technology incubated by Providence St. Joseph Health (PSJH), the nation's third-largest nonprofit health system. As part of the transaction, PSJH has signed an enterprise-wide commercial agreement with Wildflower. Providence Ventures will also participate in Wildflower's recently announced Series C financing led by Health Enterprise Partners, with participation by existing investors Hatteras Venture Partners and Echo Health Ventures.
Wildflower's mobile-based enterprise software serves as a digital catalyst for clients' existing clinical services, improving outcomes and operational efficiency, while increasing engagement, satisfaction and loyalty with women and their families. With Wildflower, families can manage the health needs of moms, dads, kids and aging parents on one shared application. Users gain access to decision-support tools, education modules, milestone-driven care plans and reminders for immunizations, doctor visits and preventive health.
Circle was created by PSJH clinicians who wanted to ensure their patients regularly receive curated, provider-approved family and children's health resources. The app serves as a single source of information for parents, providing resources on everything from breastfeeding to teenager interactions. Circle provides content, tools and trackers, and is integrated into the health system's EMR.
Wildflower Health acquires Circle Women's Health Platform
South32 to acquire Arizona Mining in US$ 1.3 billion
South32 Limited, and Arizona Mining Inc. announced that they have entered into an agreement for South32 to acquire the remaining 83 per cent of issued and outstanding shares of Arizona Mining via a plan of arrangement, representing a fully funded, all cash offer of US$1.3 billion.
Arizona Mining is the owner of the Hermosa Project, containing the high grade base metals Taylor deposit, the Central zinc, manganese and silver oxide resource and an extensive, highly prospective land package with potential for discovery of polymetallic and copper mineralisation. The Taylor deposit is a greenfield development project that has a reported resource of 101 million short tons2,3(Measured and Indicated Mineral Resources) at 10.4% zinc equivalent grade and is open at depth and laterally. The project is located close to key infrastructure in an attractive mining jurisdiction. A Preliminary Economic Assessment completed by Arizona Mining in January 2018 indicated that this low cost, long life project has the potential to deliver a very high Internal Rate of Return on investment2.
W. P. Carey Inc., a net lease real estate investment trust, announced that its Board of Directors has unanimously approved a definitive merger agreement pursuant to which Corporate Property Associates 17 – Global Incorporated ("CPA:17"), a publicly-held non-traded REIT advised by W. P. Carey, will merge with and into a subsidiary of W. P.
Carey in a stock-for-stock transaction valued at approximately $6 billion. The transaction has also been approved by CPA:17's Board of Directors upon the unanimous recommendation of a Special Committee of CPA:17's independent directors.
After the close of the transaction, W. P. Carey is expected to have a pro forma equity market capitalization of approximately $11 billion and an enterprise value of approximately $17 billion, based upon W. P. Carey's closing share price as of June 15, 2018.
W. P. Carey will merge with CPA:17 in a US$ 6 billion deal
Hawksford has acquired People & Projects Ltd
Hawksford has acquired People & Projects Ltd (P&P), an acquisition which will significantly strengthen its current presence in Hong Kong and Singapore, and provide it with an extensive footprint across major cities in China.
The transaction demonstrates Hawksford’s commitment to the Asian market and takes the corporate, private client and fund administration company’s global headcount to over 400, with 200 now based in Asia.
P&P is a dynamic, full service corporate services business with a strong track record in supporting international corporates to expand their operations, including manufacturing and sales, into and across Asia. P&P provides flexible accounting, tax and corporate service solutions that help clients navigate the complexities of setting up and doing business in the region, particularly in China where P&P has five offices. P&P has enjoyed significant organic growth since its establishment in 2007 and has a multi-lingual talented team located across 10 offices who service international clients in English, Italian, Spanish, German, Mandarin and Cantonese.
Tata Consultancy Services, a leading IT services, consulting and business solutions organization, opened its new delivery center in Suresnes, France. The delivery center, which is located in the Parisian region, can accommodate up to 230 employees and benefits from highly secure connectivity, a robust infrastructure and secure spaces, guaranteeing the best quality service and productivity for customers.
Along with TCS’ existing locations in Lille and Poitiers, the new delivery center demonstrates TCS' ongoing commitment to France and the company’s willingness to support national brands in the French economy by offering them immediate access to TCS’ deep expertise as well as its global network.
TCS opens third delivery centre in Paris, France
IBM acquires Oniqua Holdings Ltd.
IBM announced it has acquired Oniqua Holdings Pty Ltd., a global innovator in Maintenance Repair and Operations (MRO) Inventory Optimization solutions and services focused on mining, oil & gas, transportation, utilities, manufacturing and other asset-intensive industries. This acquisition expands IBM's Asset Optimization Practice, helping clients reduce and optimize MRO Inventories, predict when critical parts and equipment might fail so proactive actions can be taken to avoid unplanned downtime.
According to Aberdeen Group, 50 percent1 of annual unscheduled asset downtime can be attributed to the lack of spare parts and stock outs. This unscheduled downtime can be reduced simply by monitoring and analyzing data from across a business and using the insights to better prepare by ensuring the right spare parts and material are available when needed.
Microsoft Corp. announced plans to further expand its significant and growing investment in cloud computing in Europe by delivering the intelligent Microsoft Cloud from two new datacenter regions in Norway: one in the greater Stavanger region and the other in Oslo.
The Microsoft Cloud, comprising Microsoft Azure, Office 365 and Dynamics 365, will offer enterprise-grade reliability and performance with data residency from new datacenter locations. Initial availability of Azure is planned for late 2019 with Office 365 and Dynamics 365 to follow. Microsoft has deep expertise protecting data, championing privacy, and empowering customers around the globe to meet extensive security and privacy requirements with Microsoft’s Trusted Cloud principles and the broadest set of compliance certifications and attestations in the industry.
Microsoft to deliver intelligent cloud from Norway datacenters
Teleperformance to acquire Intelenet from Blackstone
Teleperformance, the worldwide leader in outsourced omnichannel customer experience management, announced that it has entered into a definitive agreement to acquire Intelenet from Blackstone, a leading global alternative asset manager.
Intelenet is a major global provider of high-end omnichannel customer experience management, back-office, human resources and financial & administration services. The company has more than 110 blue chip clients worldwide, mostly in the English-speaking market, India and the Middle East.
Intelenet primarily serves the Banking, Financial Services and Insurance sector (BFSI), as well as the travel, transport & accommodation, e-commerce, e-services, and healthcare sectors.
PayPal Holdings to acquire Hyperwallet for $400 million
PayPal Holdings, Inc. announced that it has agreed to acquire Hyperwallet, a leading global payout platform, for $400 million in cash, subject to certain adjustments. The acquisition of Hyperwallet enhances PayPal's payout capabilities, improving the company's ability to provide an integrated suite of payment solutions to e-commerce platforms and marketplaces around the world. According to Internet Retailer, marketplace sales accounted for more than 50% of global online retail sales in 2017.
"Ecommerce platforms and marketplaces are leveling the retail playing field by connecting buyers who have specific needs with groups of sellers that can meet them," said Bill Ready, chief operating officer, PayPal.
"Merchants and service providers who use these platforms want quick, efficient, flexible and secure access to their earnings, whenever and wherever they need them. By acquiring Hyperwallet, we will strengthen our ability to provide an integrated end-to-end solution to help ecommerce platforms and marketplaces — however large or small — leverage world-class payout capabilities in over 200 markets."
Amazon opens new office in Dublin and Creates 1,000 Jobs in Ireland
Amazon announced that it is creating more than 1,000 permanent new jobs in Ireland over the next two years. In addition to central Dublin, where Amazon opened a new 170,000 square foot building, these highly skilled roles will be based in Amazon locations in North County Dublin, Blanchardstown, and Tallaght. Creating 1,000 new jobs doubles the growth target committed to by Amazon in 2016, when the company pledged to hire 500 people in two years – and did so nine months ahead of schedule.
The new roles currently include Software Development Engineers, Network Development Engineers, Data Centre Engineers, Support Engineers, Solutions Architects, Systems Engineers, Optical Deployment Engineers, Security Specialists, Big Data Specialists, DevOps Engineers, and a range of technical management positions for both Amazon and Amazon Web Services (AWS). The new jobs reflect Amazon’s growing investments in the country as a centre of excellence for software engineering, research, and customer services.
Ball Corporation to sell U.S. Steel Food and Steel Aerosol Assets to Platinum Equity
Ball Corporation and Platinum Equity announced that they have entered into joint venture and definitive purchase agreements to form Ball Metalpack, a new packaging company that manufactures steel containers for aerosol products, food, household consumables, pet food, nutritional and other products in the United States. Platinum Equity will own 51 percent of Ball Metalpack and Ball Corporation will own 49 percent.
Ball Corporation will contribute its U.S. steel food and aerosol packaging manufacturing assets to the joint venture. These include the following tinplate steel assets: Canton (Brookline and Warner Rd.) and Columbus, Ohio; Milwaukeeand Deforest, Wisconsin; Chestnut
Hill, Tennessee; Horsham, Pennsylvania; Springdale, Arkansas, and Oakdale, California. In 2017, these U.S. tinplate steel assets had sales of $746 million and comparable operating earnings of $48 million. Jim Peterson, who currently manages those assets, will act as CEO of the joint venture.
SnackNation, the leading nationwide tech-enabled snack marketplace, announced the acquisition of EdgiLife and its brand Love With Food, a consumer insights and data analytics company with one of the nation's largest direct-to-consumer snack subscription services.
EdgiLife is the creator of a proprietary insights platform that enables emerging food, beverage and CPG brands to tap into valuable customer intelligence while placing products in the hands of the right hyper-targeted consumers. As a result of the acquisition, SnackNation is now able to serve hundreds of thousands of consumers through both the office and the home in every state across America. Terms of the deal were not disclosed.
SnackNation acquires Love With Food
Olymel L.P. announces the acquistions of Pinty's Delicious Foods
Olymel L.P. executives are announcing the acquisition of all the shares of Pinty's Delicious Foods Inc., an Ontario poultry slaughtering and processing company that specializes in fully cooked products and other related products. Headquartered in Burlington, Ontario, Pinty's employs 360 people. The company operates three processing plants, respectively located in Port Colborne, Paris, and Oakville, Ontario.
Pinty's markets its products throughout Canada and the United States under the brands Pinty's Food Service, Pinty’s Pub & Grill, Pinty’s Eat Well, Pinty's Perfect Portions and Pinty's Delicious Food Inc.
"Olymel is confident that this transaction will benefit our development and growth. We are proud to welcome the employees of Pinty's Delicious Foods Inc. Over the past 70 years, Pinty’s has developed great expertise on the Canadian and American markets by offering innovative and exclusive products under brand names that have become extremely popular with many consumers and customers. We know that this family business has been served by passionate owners throughout its history. We are also pleased to invest and strengthen our presence in Ontario and on the Canadian market,” said Réjean Nadeau, Olymel’s President and CEO.
Agrotop to build one of the largest poultry farms in Africa and the Middle East
Agrotop, a leading global player in livestock turnkey projects, has signed a contract to develop a large-scale poultry integration project with Nutropia Poultry & Feed in Ethiopia.
Agrotop will design, build and equip the project and then provide know-how transfer and management services to Nutropia. With headquarters in Addis Ababa, the new farm will eventually produce 24,000 tons of chicken meat per year.
Nutropia plans to start with an initial investment capital of 20 million euro. The first stage, which is expected to start by the end of 2018, will consist of a hatchery, broiler farms and slaughterhouse capable of providing 4,700 tons of poultry meat annually.
The vertically integrated broiler and poultry feed farms will provide chicken meat at affordable prices to the domestic Ethiopian market and to the East African and Middle Eastern markets.
IFC Invests in KazFoodProducts, boosts Agribusiness in Kazakhstan
IFC, a member of the World Bank Group, is investing $25 million in KazFoodProducts LLP, a leading Kazakh food processing group of companies operating in grain milling and confectionary sectors, to support the company’s expansion plans and boost Kazakhstan's agricultural sector, helping to diversify its economy while enhancing global food security.
KazFoodProducts processes and distributes flour, wheat gluten, starch, animal feed and confectionery. IFC’s financing will help the company diversify its product line and expand its packaged food business. The project is expected to create about 500 jobs, contribute to farmers and retailers through the company’s supply chain, while applying IFC’s high environmental and social standards.
To boost agricultural production and productivity in the Sudan, the Bank approved US $42 million in concessional grants from the African Development Fund to support the National Agriculture Investment Plan.
Estimated at a total cost of US $47.5 million, the five-year Agricultural Value Chain Development Project will also receive US $1.0 million from the Fund for African Private Sector Assistance and an estimated US $4.5 million from the Government of Sudan for selected activities.
The project will help drive comprehensive socio-economic development with a dynamic, climate-resilient agricultural sector that will in turn enhance production and productivity, improve household incomes and food security, and create markets and facilitate trade.
African Development Bank invests in Sudan agribusiness
FedEx orders Boeing freighters for US$ 6.6 billion
Boeing and FedEx Express announced a new order for 12 767 Freighters and 12 777 Freighters as the world's largest air cargo carrier continues to invest in the industry's most capable freighters to better serve its customers.
"We are taking another positive step in our fleet modernization program as we add more efficient, lower emission aircraft to our global fleet," said David L. Cunningham, President and CEO of FedEx Express. "The Boeing 767 and 777 Freighters have brought greater efficiency and reliability to our air operations. The 777, with its tremendous range characteristics, has allowed us to provide faster transit times around the globe. We are excited to add more of these aircraft to our fleet."
The new airplanes, valued at $6.6 billion at list prices, will appear on Boeing's Orders and Deliveries webpage once contingencies have been met.
This order comes as the air cargo industry continues to gather strength. A year after demand grew by nearly 10 percent, global air freight is on track to increase by another four to five percent in 2018.
Cerberus Capital Management, L.P. announced that one of its affiliates has entered into an agreement to acquire Worldwide Flight Services (“WFS”) from Platinum Equity.
Headquartered in Paris, WFS is the world’s largest air cargo handler and a leading provider of ground handling services with over €1.2 billion of total revenues. WFS has a presence in 198 airport locations in 22 countries and serves over 300 customers.
“WFS is a market leader in aviation services and is positioned to benefit from attractive long-term industry growth.” said Brett Ingersoll, Head of Global Private Equity and Senior Managing Director of Cerberus. “Cerberus has extensive operational experience and a successful track record in aviation and we are excited to support WFS’s next stage of growth.”
Cerberus Capital Management to acquire Worldwide Flight Services
Volkswagen Group will take a seat on the board of QuantumScape. By increasing its stake in the California technology company QuantumScape Corporation and forming a new joint venture, Volkswagen Group is paving the way for the next level of battery power for long-range e-mobility. Dr. Axel Heinrich, Head of VW Group Research, who will take a seat on the board of directors of QuantumScape, says:
Volkswagen will invest 100m USD in US-based QuantumScape and will become the innovative enterprise’s largest automotive shareholder. Closing of the transaction is subject to regulatory approval.
Since 2012, Volkswagen Group Research has already been collaborating closely with the Stanford spin-off. Based on the significant technical progress that this cooperation has made, QuantumScape and Volkswagen will work together within a newly formed joint venture with the aim to enable an industrial level of production of solid-state batteries. One of the long-term targets is to establish a production line for solid-state batteries by 2025.
Volkswagen partners with QuantumScape for next level battery technology
Nestlé, the world’s largest food and drink company, and XPO Logistics, a leading global provider of transport and logistics solutions, are co-creating a 638,000-square-foot distribution centre at the new SEGRO East Midlands Gateway Logistics Park in Leicestershire, UK. The facility, a digital warehouse of the future, will be occupied predominantly by Nestlé for its consumer packaged goods and will function as a testbed environment for XPO technology prototypes prior to global release.
The custom-designed distribution centre, scheduled to complete in 2020, will feature advanced sorting systems and robotics alongside state-of-the-art automation co-developed with Swisslog Logistics Automation. The site’s digital ecosystem will integrate predictive data and intelligent machines to deliver one of the most advanced distribution management centres in the world, giving consumers faster, more efficient access to KitKat, Maggi, Nescafé and other much-loved Nestlé brands.
The XPO-owned facility will be strategically located in the Midlands to benefit from direct access to the M1 motorway for road transport, the East Midlands Airport for cargo flights, and an onsite rail freight terminal with direct access to the major UK ports of Southampton, Felixstowe, London Gateway and the Channel Tunnel.
Nestlé and XPO Logistics building digital warehouse in the East Midlands
Hospitality Properties Trust has acquired the Radisson Blu Minneapolis Downtown
Radisson Hotel Group announced that its longtime partner, Hospitality Properties Trust (HPT) a real estate investment trust, has acquired the Radisson Blu Minneapolis Downtown in a sale from an affiliate of KKR. The hotel was acquired by KKR in June of 2014 and converted to Radisson Blu following a multimillion-dollar renovation. The hotel features over 360 sophisticated rooms, 29,000 square feet of flexible meeting and event space, 24-hour business center, Business Class Lounge, and the FireLake Grill House & Cocktail Bar. The Radisson Blu Minneapolis Downtown becomes the ninth property owned by HPT and managed by Radisson Hotel Group.
In addition, HPT has announced a more than $50 million investment across its portfolio of hotels under Radisson Hotel Group’s brands including:
Radisson Hotel Salt Lake City Downtown
Radisson Hotel Seattle Airport
Radisson Hotel Nashville Airport
Radisson Hotel Phoenix Airport
Country Inn & Suites by Radisson, Brooklyn Center, MN
Country Inn & Suites by Radisson, Bothell, WA
Country Inn & Suites by Radisson, San Diego North, CA
Country Inn & Suites by Radisson, Sunnyvale, CA (which will convert to a Radisson following its renovation)
Pullman to open first hotel in Singapore
AccorHotels and EL Development Pte Ltd, a Singapore-based property developer, have announced they will open a new-build five-star Pullman on a prime site on Hill St, in the civic and cultural heart of the city. The 342-room hotel will be Singapore’s first Pullman and will feature a rooftop bar and executive lounge with sweeping views over Fort Canning, the Singapore River and St Andrew’s Cathedral, along with a vibrant lobby, health and fitness centre and pool. The hotel is set to open in 2022 after a complete redevelopment of the site.
Mr Lim Yew Soon, Managing Director of EL Development Pte Ltd said, “We are pleased to appoint AccorHotels to manage our first hotel and we will bring the same high quality that symbolises our residential and mixed-use buildings to what will be our first hotel development. We are confident that the Pullman brand is the perfect fit for the market in Singapore as the brand has really built a strong reputation, especially in Asia.”
The Pullman brand is one of the fastest-growing upper upscale brands in the world and since launching in Bangkok in 2007, it has become the hotel of choice for a new generation of hyper-connected travellers seeking contemporary design, culture and connectivity in a cosmopolitan atmosphere.
Radisson Hospitality AB, publicly listed on Nasdaq Stockholm, Sweden and part of Radisson Hotel Group, is proud to announce the signing of a new Radisson Blu Hotel, Bruges in Belgium. The signing takes the group’s Belgian portfolio to 15 hotels in operation and under development. It was in 1989, that Radisson Hospitality AB (originally SAS International Hotels) decided to move its EMEA headquarters to Brussels, the Belgian and European capital, and has ever since remained committed to the country’s international potential.
Radisson Blu Hotel, Bruges is located in the beautiful, historical, fairy-tale medieval city center – The Markt – that dates back to 1905. The hotel is close to Central Station of Bruges (a UNESCO heritage site), and a short train ride away from the International Airport in Brussels (Zaventem).
Radisson Blu to arrive in Bruges, Belgium
Radisson Group, announce the signing Radisson RED Aarhus in Denmark
Radisson Hospitality AB, publicly listed on Nasdaq Stockholm, Sweden and part of Radisson Hotel Group, is proud to announce the signing of the Radisson RED Aarhus in Denmark. Radisson RED – the upscale, select-service brand from the Radisson Hotel Group, which presents a playful twist on conventional hotel stays – is excited to make its Scandinavian debut in Denmark’s second largest city, Aarhus.
Aarhus is a trading hotspot and business hub that's home to a range of major global organizations – as well as the country's largest container harbor. Arhus is also fast-becoming a popular leisure destination with a focus on its many major attractions, including the most-visited museum in Denmark.
Choice Hotels to develop two new Cambria Hotels in South Carolina Markets
Choice Hotels International, Inc. has signed two agreements with Four Raines, LLC to develop Cambria hotels in Greenville and Summerville, S.C., both rapidly growing business regions. The Cambria Hotel Greenville and the Cambria Hotel Summerville are both slated to open in October 2019.
The Cambria Hotel Greenville will have 125 rooms and is located in an upscale mixed-use retail area with access to Whole Foods, Total Wine, and Ann Taylor LOFT. The property is within walking distance to the headquarters of TD Bank and BMW North American Technology, Hubbell Lighting, ICAR, and facilities operated by 3M, Honeywell, and General Electric.
The 95-room Cambria Hotel Summerville will be located in Nexton Town Center, a mixed-use development with retail and office space, live-music and event venues, and a walking and biking trail system. Hotel guests can enjoy dining experiences at nearby Halls Chophouse, Fuji Sushi, and Taco Boy. Summerville is home to Volvo, SCRA, Summerville Hospital and Medical Center, and Palmetto Care.
IFC, a member of the World Bank Group, has completed a US$300 million financing package for the construction of 17 kilometers of the provincial capital ring road. This financing is part of IFC’s strategic engagement with the Province of Cordoba in the transportation sector, focused on construction and improvement of critical road infrastructure. IFC is supporting the Province’s 2016-2019 provincial road investment program of US$2.3 billion through a staged financing envelope and advisory services.
IFC funds will be used to finance the completion of the Cordoba City Ring Road and the construction of an accelerated entryway from the Ring Road to the city center to enable better access to jobs - benefitting the vulnerable population living in outer neighborhoods. These investments will reduce congestion, travel time, and costs while enhancing transportation efficiency and safety within the metropolitan area.
IFC completes US$ 300 million financing for Road infrastructure in Argentina
New 5G wireless networks will contribute as much as $40 billion annually to Canada’s economy by 2026, according to a new report from Accenture.
Commissioned by the Canadian Wireless Telecommunications Association and developed by Accenture Strategy, the report, “Fuel for Innovation – Canada’s Path In The Race To 5G,” found that the deployment of 5G networks across Canada will lead to the creation of hundreds of thousands of new jobs.
Specifically, more than 150,000 short-term jobs are likely to be created between 2020 and 2026 while the networks are being deployed, and the estimated $26 billion investment by facilities-based carriers required to deploy the networks is likely to create 250,000 more permanent jobs annually by 2026.
5G Wireless could add $40 billion in annual GDP and 250,000 Jobs to Canadian Economy by 2026
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18 - 23 June 2018
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