Cabot Microelectronics to acquire KMG Chemicals for US$ 1.6 bn
it & BPM i FOOD I HEALTHCARE i TEXTILES i INFRASTRUCTURE i ENGINEERING i tourism
Mitsubishi to acquire 25% LNG Receiving Terminal Project in Bangladesh
Constellation Brands invest
$4 bn USD in Canopy Growth
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13 - 18 August 2018
IHG signs a deal for four Holiday Inn hotels in India
Coca-Cola to acquire minority stake in BODYARMOR
Boeing to acquire Millennium Space System
Accenture forms Alliance with Chinese Start-up Malong Technologies
Siemens and PowerCell to collaborate in fuel cell systems for ships
KKR to acquire 60% stake of Ramky Engineers for US$530 mn
Blackstone Signs Agreement to Invest in TaskUs
Cabot Microelectronics Corporation to acquire KMG Chemicals for $1.6 billion
HORIBA Automotive Test Systems signs agreement to acquire FuelCon AG
Saudi Aramco, Air Products, and ACWA Power to form $8 Bn Gasification/Power JV
U.S. LUMBER to acquire Alexandria Moulding
Boeing to Acquire Millennium Space Systems
BOScoin Signs MOU with Forbiz Korea
Emalex Biosciences Acquires Psyadon Pharmaceuticals
Cargill opens innovation center for fish farming in Indonesia
CGOC announces investment in US medical cannabis leader Vireo Health
Amadeus will acquire TravelClick from Thoma Bravo for USD $1.52bn
Strand Hotel Stockholm becomes a Radisson Collection
Senior Dental Care Acquired by Serent Capital
Auckland will welcome a flagship InterContinental hotel in 2022
Constellation Brands to invest $4 billion USD in Canopy Growth
IHG signs a portfolio deal for four Holiday Inn hotels in India
Lagardère Travel Retail agreement to acquire Hojeij Branded Foods
DFA in JV to build $470 mn Cheese & Whey facility in Michigan
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Cabot Microelectronics to acquire KMG Chemicals for US$ 1.6 billion
Cabot Microelectronics Corporation, the world’s leading supplier of chemical mechanical planarization (CMP) polishing slurries and second largest CMP pads supplier to the semiconductor industry, and KMG Chemicals, Inc., a global provider of specialty chemicals and performance materials, have entered into a definitive agreement under which Cabot Microelectronics will acquire KMG in a cash and stock transaction with a total enterprise value of approximately $1.6 billion.
The combined company is expected to have annual revenues of approximately $1 billion and approximately $320 million in EBITDA, including synergies, extending and strengthening Cabot Microelectronics’ position as one of the leading suppliers of consumable materials to the semiconductor industry. Additionally, the combined company will be a leading global provider of performance products and services for improving pipeline operations and optimizing throughput.
"We are excited about the combination of two world-class organizations with dedicated and talented employees that provide innovative, high quality solutions to solve our customers' most demanding challenges," said David Li, President and CEO of Cabot Microelectronics.
HORIBA Europe GmbH has announced that it has agreed terms for the acquisition of FuelCon AG (“FuelCon”). FuelCon will become part of HORIBA Automotive Test Systems – a leading supplier in the fields of engine, driveline, brake and emissions test systems. The completion of the transaction is subject to regulatory clearance.
Founded in 2001 and based in Magdeburg-Barleben, Germany, FuelCon is a leading manufacturer and supplier of R&D and EOL (end of line) test beds and turnkey solutions for the E-Mobility sector, with expertise in battery and fuel cell applications.
FuelCon has an enviable reputation for design and manufacture of precision high performance solutions and is trusted for its deep technical know-how by global OEMs and Tier 1s as well as international research laboratories. Through joining the HORIBA group of companies, FuelCon will be able to respond to the growing need for increasingly complex development and validation solutions and harness HORIBA’s extensive international network.
Boeing will acquire Millennium Space Systems, a provider of agile, flight-proven small-satellite solutions, under an acquisition agreement that will expand Boeing's satellite and space portfolio, talent and capabilities.
"Millennium Space Systems' expertise in vertically-integrated small-satellite solutions perfectly complements Boeing's existing satellite portfolio, and will allow us to meet the needs of a diverse customer set," said Leanne Caret, president and CEO of Boeing Defense, Space & Security. "We look forward to incorporating Millennium Space Systems' end-to-end mission solution capabilities into our service offerings in satellite operations and data solutions."
Boeing to acquire Millennium Space Systems
Siemens and Power Cell Sweden AB, a Swedish producer of fuel cell modules, are to enter into a partnership in order to drive forward the integration of fuel cell modules in shipping. The aim of the collaboration is to develop an energy supply system for vessels which is based on fuel cells. Siemens will supply the SISHIP BlueDrive integrated energy and propulsion system into which PowerCell will install its fuel cell modules. Possible joint projects could include energy supply systems for ferries, yachts, cruise ships and research vessels.
The marine and shipbuilding industry is in a state of radical change: Environmentally friendly yet profitable solutions are vital to meet strict environmental requirements while still running ships economically. The answer comes from Siemens in the form of the SISHIP BlueDrive integrated energy and propulsion system: It is based on a fully integrated energy distribution in which the main control panel and all drives are contained in a single, compact unit. Various subassemblies can be flexibly and easily connected to the energy supply in ships. The batteries being increasingly used in ferries in recent years have paved the way for this development.
KKR to acquire 60% stake
of Ramky Engineers
for US$ 530 mn
Global investment firm KKR and Ramky Enviro Engineers Limited a leading provider of environmental services and solutions in India and overseas, announced the signing of a definitive agreement under which KKR will acquire a 60% stake in the Company for approximately US$530 million via a combination of primary and secondary investments valuing the Company at an enterprise value of US$925 million.
REEL's suite of comprehensive offerings includes the management, collection, transport and processing of hazardous, municipal, biomedical and e-waste, as well as the recycling of paper, plastic and chemicals. The Company also focuses on renewable energy generation - with a strong focus on waste-to-energy processes - and offers consulting and integrated environmental services. REEL has a presence in over 60 locations across 20 Indian states, as well as in certain Southeast Asian, Middle Eastern and African markets.
KKR's investment in REEL marks one of the largest buyouts in India, in addition to being the first private equity buyout in the country's highly attractive environmental services sector. The deal comes as Prime Minister Narendra Modi's administration enhances its focus on environmental management through the Swachh Bharat (Clean India) Mission, an initiative to reduce pollution and improve critical sanitation infrastructure to boost living standards in cities, towns and rural villages nationwide.
Sanjay Nayar, Member & CEO of KKR India, said, "We are excited to partner with REEL, the only comprehensive environmental management company offering end-to-end environmental and waste management services across India. REEL's work uniquely supports the Swachh Bharat Mission, and our team is pleased to invest in the growth of a company that provides critical services and infrastructure to reduce pollution and address the needs of India's expanding urban population."
Saudi Aramco, Air Products, and ACWA Power to form $8 bn Gasification/Power JV
Saudi Aramco, Air Products, and ACWA Power announced the signing of a Term Sheet to form an over $8 billion Gasification/Power joint venture (JV) located at Jazan Economic City (JEC) in Saudi Arabia.
The JV will purchase the gasification assets, power block and the associated utilities from Saudi Aramco for over $8 billion. These assets are currently under construction and will be transferred to the JV upon successful start-up, currently scheduled in 2019.
The JV will own and operate the facility under a 25-year contract for a fixed monthly fee. Saudi Aramco will supply feedstock to the JV, and the JV will produce power, hydrogen and other utilities for Saudi Aramco. Air Products will own at least 55 percent of the JV, with Saudi Aramco and ACWA Power owning the balance.
The JV builds upon the importance and recognition that critical infrastructure assets in the region are being developed and operated under the Public Private Partnership (PPP) model.
Mitsubishi Corporation (“MC”) has agreed to acquire a 25% interest in Summit LNG Terminal Co (Pvt) Limited (“SLNG”) and to develop a Liquefied Natural Gas (LNG) receiving terminal that uses a Floating Storage and Regasification Unit (FSRU) in Bangladesh. With the acquisition, 75% of SLNG will be held by Summit Corporation Limited (“Summit”) and 25% by MC.
Under the project, SLNG will install an FSRU 6km off the coast of the island of Moheshkali in the Cox Bazar District of Chittagong Division in Bangladesh, where it will receive and regasify LNG procured by Petrobangla, the national oil and energy company. Construction of the terminal commenced at the end of 2017 and commercial operations are expected to start in March 2019. The planned LNG import volume is approximately 3.5 MTPA.
Bangladesh, with its expanding population, and an economic growth rate of more than 6% per annum, is also seeing a rapid increase in electricity demand. While gas-based generation accounts for approximately 60% of total generation, domestic natural gas production is starting to decline. The country is therefore promoting LNG imports as part of its national energy policy. Bangladesh will start importing LNG in 2018, with a targeted import volume of 17 MTPA in 2030.
Mitsubishi to acquire 25% interest in LNG Receiving Terminal Project in Bangladesh
U.S. LUMBER GROUP, LLC and Alexandria Moulding announced that they have signed an agreement under which U.S. LUMBER will acquire Alexandria Moulding. U.S. LUMBER, based in Atlanta, is a leading two-step distributor of specialty building products in the Eastern and Midwestern United States. Alexandria Moulding, headquartered in Alexandria, Ontario, Canada, is a leading manufacturer and two-step distributor of a full range of mouldings and accessories across all of Canada and the northern United States. The combination will create a company with a broader geographic presence as well as enhanced product and service capabilities.
U.S. LUMBER President and CEO Jeff McLendon said, "We are thrilled to be partnering with the Alexandria Moulding team as we continue to grow our business. Alexandria Moulding brings to the U.S. LUMBER family the very highest level of expertise and capabilities in mouldings, along with a 75-year history of exceptional customer service through its distribution arm. This acquisition advances our growth strategy by expanding our geographic presence and product mix, and adds an exciting new set of capabilities to our company. We're particularly pleased that combining these complementary businesses will enhance the value proposition we collectively offer our trading partners."
Alexandria Moulding President Andre Cholette added, "We are very excited to be partnering with U.S. LUMBER as the next stage of Alexandria Moulding's growth. U.S. LUMBER has earned a great reputation in the marketplace and its commitment to values like honesty and integrity is a perfect match for Alexandria Moulding's strong culture. Becoming a part of U.S. LUMBER will allow us to enhance our product and service offerings as we continue to provide growth opportunities for our customers, suppliers and employees."
Lagardère Travel Retail announces the signing of an agreement for the acquisition of 100% of Hojeij Branded Foods (HBF), which will be combined with Paradies Lagardère, the organisation’s North American division.
The completion of this transaction is subject to a number of customary conditions, including regulatory approval and third-party consents.
Combining the activities of Lagardère Travel Retail and HBF would create a USD 1.1 billion player, the third largest player in the North American Travel Retail and Foodservice industry. The price for the acquisition, payable in cash, is USD 330 million1.
Hojeij Branded Foods, a leading Foodservice operator in North America
Founded in 1996 by Wassim and Kathy Hojeij, HBF is one of the leading airport Foodservice operators in North America. Headquartered in Atlanta, it operates more than 124 bars and restaurants in 38 airports across the US and Canada.
Korea's first blockchain project BOScoin announced that it entered into an Memorandum of Understanding (MOU) with the middle-sized enterprises focused ecommerce platform solutions provider, Forbiz Korea a global ecommerce platform, and also provide funding through BOScoin's Public Financing service.
BOScoin has introduced the concept of 'Public Financing' in its White Paper 2.0 Part1 Overview and worked to discover small and medium-sized enterprises (SMEs) in the payment, ecommerce and logistics segments that the concept can be effectively applied.
Forbiz Korea is a provider of ecommerce solutions that guarantee high performance and scalability for SMEs with a manufacturing facility in the consumer goods sector such as KGC Ginseng Corporation and Daiso. Going beyond providing solutions, Forbiz Korea plans to help SMEs easily connect to overseas markets including Amazon, Lazada, shopee, and Zilingo through its SaaS global ecommerce platform service called 'Relaket.' The company will also allow small and medium-sized brands to work together with Korea's major open markets, online shopping malls and multi-brand shops so that they can successfully expand into a new market.
Relaket is a one-stop platform where influencers who endorse opinions about products online can select products they want to sell and process shipping, payment and settlement on a single platform. Currently, the service is offered in 4 different languages, and the company is in the process of making it to support up to 10 languages so that global influencers can easily sell "Hallyu products.
BOScoin signs MOU with Forbiz Korea
Private Equity funds managed by Blackstone have entered into a definitive agreement to invest in TaskUs, a leading customer service and business process outsourcing services provider for high-growth technology companies. The investment, before funding, values TaskUs at more than $500 million.
Founded in 2008 by Bryce Maddock and Jaspar Weir, TaskUs is one of the fastest-growing companies in its industry globally. Their business process solutions, which leverage the latest technology, including AI, advanced Learning Management Systems and big data, help companies quickly scale. TaskUs will continue to be led by Mr. Maddock, Mr. Weir, and the existing management team, who have been instrumental in driving the company’s growth.
Amit Dixit, Senior Managing Director at Blackstone, said: “The growth in ride sharing, social media, online food delivery, e-commerce and autonomous driving is creating an enormous need for enabling business services. TaskUs has established a leadership position in this domain with its base of marquee customers, unique culture, and relentless focus on customer delivery. We are excited to partner with Bryce, Jaspar and the existing management team to build the world’s leading company in this area. With access to capital from Blackstone, as well our two decades of experience with BPO companies, we are confident that our investment in TaskUs can significantly accelerate the company’s growth trajectory."
Accenture has formed a strategic alliance with and made a minority investment in Malong Technologies, an artificial intelligence (AI) start-up headquartered in Shenzhen, China. Malong has been recognized by global companies and organizations and analyst firms as an AI pioneer and innovation leader.
Through the alliance, Accenture’s Applied Intelligence practice and Malong will offer computer vision and product recognition capabilities to clients worldwide. The alliance gives Accenture a strategic AI presence in China and forms part of its wider regional growth strategy.
Malong’s product recognition and auto-tagging technology, ProductAI®, lets machines "see" physical objects the way a person does. Retailers can use it to make product checkouts much more efficient and allow their customers to shop for items by taking a picture of it with their smartphones. Other use cases include defect detection in manufacturing to drive quality, baggage scanning for improved safety, and analyzing medical images to help doctors make critical decisions faster.
Constellation Brands invest $4 billion USD in Canopy Growth
Constellation Brands, a leading beverage alcohol company, and Canopy Growth Corporation, a leading diversified cannabis company announced a significant expansion of their strategic partnership to position Canopy Growth as the global leader in cannabis production, branding, intellectual property and retailing.
As a result of the new shares Constellation is acquiring, Canopy Growth will immediately upon closing have proceeds of approximately $5 billion CAD [$4 billion USD] to bolster its leadership position in the global cannabis industry. This investment, the largest to date in the cannabis space, will provide funds which Canopy Growth will deploy to strategically build and/or acquire key assets needed to establish global scale in the nearly 30 countries pursuing a federally permissible medical cannabis program, while also rapidly laying the global foundation needed for new recreational cannabis markets. Canopy Growth's Canadian platform does not require additional cannabis cultivation assets, and management views other jurisdictions, including the United States, as strategic priorities requiring significant capital.
Cargill has opened an aquaculture innovation center in Indonesia to work with freshwater fish farmers in raising farming and feeding standards. The Technology Application Center (TAC) is located at Ciseeng, Parung-Bogor, which is a hub for freshwater aquaculture in Indonesia. It will bring global aquaculture best practices and expertise from Cargill’s network of 12 such centers dedicated to aquaculture worldwide.
The TAC will also provide a platform where local aquaculture farmers can come for training and discussions around feeding and other farm management practices.
“Freshwater aquaculture in Indonesia is showing strong growth thanks to increasing demand for seafood in the country,” said Chad Gauger, managing director of Cargill Aqua Nutrition in South Asia. “This innovation center will support the development of the freshwater aquaculture industry by educating and training farmers on how to improve their productivity and income.”
Glanbia Nutritionals, Dairy Farmers of America (DFA) and Select Milk Producers Inc. announce that they have, subject to the satisfaction of certain conditions, selected the City of St. Johns, Michigan as the preferred location for their new joint venture large-scale cheese and whey production facility for the State of Michigan, which is now expected to be commissioned in the fourth quarter of 2020 at a cost of $470 million.
The new facility will process 8 million pounds of milk per day into a range of cheese (300m lbs per year ) and whey products for U.S. and international markets, employing approximately 250 staff when in full production. In addition, the partners confirm that an agreement has been reached with Proliant Dairy Ingredients to process the whey permeate. Proliant will invest $85m in an adjoining facility, creating up to 38 jobs.
The preferred site in St. Johns meets key selection criteria in terms of strategic location relative to milk supply, strong transport links, a positive business environment and labor availability. The partners have engaged with State and City officials as well as community leaders, to address issues such as cost, infrastructure and planning in order to finalize the decision. The Michigan Economic Development Corporation today approved a package of incentives that address these areas.
The Coca-Cola Company and BODYARMOR announced that they have entered into a definitive agreement through which Coca-Cola will acquire a minority ownership stake in BODYARMOR. Through the agreement, BODYARMOR will have the opportunity to gain access to the expansive Coca-Cola bottling system, enabling the fast-growing brand to accelerate its growth to meet explosive consumer demand for its premium line of sports performance and hydration drinks.
The initial investment is uniquely structured to create value for both companies and allow Coca-Cola to increase its ownership stake in the future under defined terms. Financial terms of the agreement were not disclosed.
The BODYARMOR investment will be part of the Coca-Cola North America Venturing and Emerging Brands (VEB) investment portfolio. The brand will continue to operate independently with the same entrepreneurial spirit that has made it so successful under the leadership of Co-Founder and Chairman Mike Repole and his BODYARMOR management team.
Senior Dental Care acquired by Serent Capital
Senior Dental Care, a leading dental care provider for nursing homes, has been acquired by Serent Capital, a San Francisco-based private equity firm focused on investing in fast-growing software and services businesses.
Senior Dental Care offers full-service dental plans for nursing homes and their residents. To promote better access to quality care, Senior Dental Care offers plans featuring no copays, deductibles or pre-authorizations. For qualified Medicaid recipients, these services are available at no additional cost to the patient. Dental services include preventative (exams, teeth cleanings, fluoride treatments, etc.), restorative (fillings, extractions), and prosthodontics (denture maintenance, dentures, denture adjustments).
"At Senior Dental Care, we strive to deliver the best in professional dentistry services to nursing homes for those who want more convenience, good oral health and a genuine reason to smile," said CEO Tony Layne.
Cannabis Growth Opportunity Corporation announced the company has made an investment in Vireo Health Inc., a physician-led company with a mission to safely alleviate pain with cannabis and dedicated to providing best-in-class cannabis-based medications and compassionate care. The deal reflects CGOC’s commitment to investing in organizations poised to drive long-term growth for the company’s investors.
A North American leader in the pain vertical within medical marijuana, Vireo cultivates cannabis in environmentally friendly greenhouses and manufacturers pharmaceutical-grade cannabis extracts in their state-of-the-art labs. Its robust IP portfolio includes a mix of medical and general cannabis applications including harm reduction additive for tobacco products, its FREDOM opioid reduction protocol and a custom extract dispenser.
“Our investment in Vireo is a great example of our team of cannabis industry experts leveraging our early mover advantage to invest in companies with a proven track-record of launching new operations in an expedited and efficient manner,” says Jamie Blundell, President and COO of CGOC. “Their offering is distinct, and they are poised to change the landscape for how cannabis will be utilized from a medical perspective. They’re showing real revenue today and we’re very excited about their direction and the opportunity our funding has to drive long-term value for our investors.”
CGOC announces investment in US medical cannabis
leader Vireo Health
Biopharmaceutical company Emalex Biosciences, the newest member of the Paragon Biosciences (Paragon) portfolio of companies, announced it acquired Psyadon Pharmaceuticals and the exclusive rights to develop, register and market ecopipam, a new chemical entity with orphan drug designation for the treatment of pediatric Tourette Syndrome (TS) in patients under 16 years of age.
Ecopipam is a potent, selective antagonist of the human D1 receptor family being developed for the treatment of pediatric TS. TS is a childhood-onset neurodevelopmental condition, characterized by motor and vocal tics, for which there exists an unmet need for new therapies.
Dopamine "D1" antagonism represents a novel approach to reducing the severity of symptoms in children with TS. Dopamine D1 receptor super-sensitivity may be a mechanism for the repetitive and compulsive behaviors associated with this disease.
Emalex will be led by CEO Eric Messner, a veteran pharmaceutical executive and entrepreneur with experience in the development and commercialization of treatments for rare and orphan diseases.
Emalex Biosciences acquires Psyadon Pharmaceuticals
InterContinental Hotels Group (IHG), one of world’s leading hotel companies has signed a management agreement with Lotus Trans Travel Private Limited to establish a four hotel portfolio under the Holiday Inn banner. Slated to open between 2020 and 2023, Holiday Inn Bodhgaya, Holiday Inn Kushinagar, Holiday Inn Gorakhpur and Holiday Inn Shravasti together will add over 450 rooms to IHG’s system and establish company’s presence at the Buddhist tourism circuit.
As a part of the agreement, Holiday Inn hotels in Bodhgaya, Kushinagar and Shravasti will be refurbished and upgraded, to ensure the portfolio is fully representative of the Holiday Inn brand globally. Holiday Inn Gorakhpur will be will be a new build hotel.
Bodhgaya in Bihar, Gorakhpur, Shravasti and Kushinagar in Uttar Pradesh are some of the main pilgrimage centres for Buddhism in India and together form a part of ‘The Buddhist Circuit’ in the country that drives a great deal of religious visitors and international travellers to these states. With this signing, IHG is uniquely positioned as the first international operator to have presence in the Buddhist Circuit of India.
Commenting on the announcement, Sudeep Jain, Vice President, Development, South West Asia, IHG said: “We are excited to be collaborating with Lotus Trans Travel Private Limited, who have a strong presence and a deep market understanding of Buddhist destinations in India. This signing adds to the rapidly growing presence of our well-recognized Holiday Inn brand across the country. The Holiday Inn brand family is IHG’s growth engine in India, and this agreement is in line with our development strategy for the South West Asia region.
He added: The Buddhist Circuit is an important landmark for religious tourism and is being further established, as a result of the Government’s efforts to develop and promote the route. This presents a great opportunity for us, and we look forward to catering to the growing number of tourists’, and the local demand for F&B and banqueting requirements.”
Lajpat Rai, Managing Director, Lotus Trans Travel Private Limited, said: “We are thrilled to partner with IHG® for our portfolio of hotels in the Buddhist tourism circuit including Bodhgaya, Kushinagar, Gorakhpur and Shravasti. The global scale and many years of international hotel management experience makes IHG an ideal partner for us to further strengthen our offering. Holiday Inn is one of the world’s most loved hotel brands, and we are confident it will cater to the growing number of travellers visiting these cities.”
IHG signs a deal for four Holiday Inn hotels
Auckland will welcome a flagship InterContinental hotel in 2022 with IHG® and Precinct Properties, the largest city centre real estate owner in New Zealand, signing an agreement to open InterContinental Auckland.
InterContinental Auckland will enjoy an unrivalled location on the city’s waterfront, with a halo address at 1 Queen Street that will inevitably become a destination in its own right. It will complete the $1 billion Commercial Bay mixed-use development, which boasts the largest concentration of high quality retail facilities in the city and a new 39-level office tower with 39,000m2 of premium office space.
The world-class waterfront development is also destined to become Auckland’s newest, shopping, dining and social hub, offering a vast range of food and beverage outlets that are perfectly complemented by the hotel’s luxury dining experience, which includes all-day dining and bars.
The hotel will be dedicated to those who appreciate and enjoy The InterContinental Life, featuring the brand’s signature Club InterContinental experience, as well as a gym and meeting facilities. In order to give guests an unparalleled experience that shows off the best of the ‘City of Sails’, 90% of the hotel’s 244 guest rooms will offer water views.
Abhijay Sandilya, IHG’s Senior Director of Development – Australasia, said: “It’s high time Auckland got a taste of the InterContinental Life, so we are very excited about this announcement. Being part of such an iconic mixed-use development ensures the hotel, dining, retail and commercial components form a symbiotic relationship. Together with Precinct Properties, we will deliver a distinctive product that inspires those travellers who are looking for the InterContinental understated luxury, both in the leisure and corporate space.”
Scott Pritchard, Chief Executive Office at Precinct Properties commented: “Commercial Bay is set to transform Auckland’s CBD and reshape the waterfront area in the heart of the city, so it’s absolutely fitting that one of the world’s best-known luxury brands is part of this world-class development. The addition of the InterContinental Life further solidifies Commercial Bay as a truly mixed-use precinct, and we’re very proud to partner with IHG to bring this flagship property to life.”
InterContinental Auckland will benefit from convenient access to corporate and leisure demand generators including, the New Zealand International Convention Centre, Viaduct Harbour, Britomart precinct, Wynyard Quarter, Vector Arena, the international cruise ship terminal, SKY CITY and SKY CITY Casino. It sits at the heart of Auckland’s transport infrastructure which includes train, bus and ferry, as well as being just 20km to Auckland Airport, the largest and busiest airport in New Zealand.
Amadeus has agreed to acquire TravelClick from Thoma Bravo, a leading private equity investment firm, for USD $1.52bn.
TravelClick, which is headquartered in New York City, is a leading global hospitality provider that serves more than 25,000 customers across 176 countries. It provides innovative cloud-based solutions, including an independent and mid-size hotel Central Reservation System (CRS) and Guest Management Solution (GMS), as well as business intelligence and media solutions. This portfolio gives hotels distribution reach across all channels, both digital and traditional. It also allows them to improve digital interaction with guests, increase revenues and performance, reduce cost and create a strong brand.
The addition of TravelClick’s solutions to the Amadeus portfolio will create a hospitality leader providing a broad range of innovative technology to hotels and chains of all sizes across the globe.
“TravelClick has a great team, great technology and a broad customer base, and we are looking forward to welcoming such a successful business into Amadeus,” said Luis Maroto, President and CEO of Amadeus. “Our ambition is to provide the hospitality industry with the tools they need to grow their businesses and deliver a great experience to their guests. The combination of our two portfolios will allow us to provide that to hotels of all shapes and sizes across the world.”
The Radisson Collection Hotel, Strand Stockholm is now completely renewed, following a highly-considered, two year-long refurbishment. Heralding an exciting, new chapter for one of Stockholm’s most historic buildings – Strand Stockholm’s latest incarnation blends effortless Scandinavian design with an artistic richness, befitting its storied history.
Designed by internationally acclaimed Swedish architectural studio, Wingårdhs, Strand Stockholm joins a unique portfolio of local icons and one-of-a-kinds, as part of Radisson Collection. This new premium lifestyle collection of exceptional hotels are located in unique locations all over the world.
The hotel offers guests truly memorable experiences, combining exceptional design with authentic local touches and a vibrant social scene for locals and hotel guests alike.
Originally launched in 1912 for the Olympics, Strand Stockholm quickly established a reputation as a local hotspot beloved of the stars, such as Swedish actors Greta Garbo and Ingrid Bergman. A particular popular part of the hotel was the Sea Salon, today the Sea Salon Suite, which boasts remarkable views of the Royal Dramatic Theater.
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