Europe

Raleigh, one of the UK’s best-known brands, has been sold to Netherlands-based Accell Group for €60 million.

Accell said the acquisition of Raleigh adds well-known global brands to its portfolio, further strengthening its position in North America and the UK in the markets for bicycles and bicycle parts & accessories.

Anglo American has announced the sale of Scaw South Africa, completing its divestment of the Scaw Metals Group.

The company has sold Scaw South Africa to an investment consortium led by the Industrial Development Corporation (IDC) of South Africa, Izingwe Holdings, Shanduka Resources and the Southern Palace Group of Companies.

Allantone Supplies focuses on keeping the maritime traffic that bustles around the UK well supplied with fuel. Running a short-notice, niche operation, the company makes customer service its top priority.

Shell has agreed to buy East Africa-focused Cove Energy in a deal worth £1.12 billion, it has been announced.

London-listed Cove will be acquired by the energy giant’s Shell Bidco subsidiary.

The acquisition marks Shell's entry into Kenya and Mozambique, with potential for new LNG from recent gas discoveries offshore Mozambique. Shell already has interests in Tanzania.

Swiss food giant Nestlé has agreed to acquire Pfizer Nutrition for $11.85 billion, it has been announced.

Nestlé said the acquisition would be a strategic fit with its infant nutrition business, given US-based Pfizer Nutrition’s complementary portfolio and strong presence in high-growth markets.

Nestlé described Pfizer Nutrition as a high-quality, high-growth infant nutrition business with strong brands, value-creating and accretive to the Nestlé model.

University College Dublin (UCD) has signed a memorandum of understanding with a leading Chinese dairy producer, Dairy United.

The agreement, which is expected to bring about multi-million Euro contracts for products and services, sets out the development of a China-Ireland Agricultural demonstration farm in Hohhot, Inner Mongolia, as well as collaborative research projects, the provision of education and training, and collaboration on creating a trade corridor to facilitate the export of Irish products to Inner Mongolia.

Norwegian EPC specialist Kvaerner has been awarded an engineering, procurement, construction and management contract for the Shell-operated Ormen Lange/Nyhamna onshore facilities on the west coast of Norway.

The contract, worth NOK 6 billion (excluding options), is a framework agreement for a duration of six years, with options for an additional two-plus-two years.

Irish convenience food producer Greencore Group has announced it will acquire US-based Marketfare Foods for £22.6 million.

Marketfare, which is headquartered in Arizona, is a leading manufacturer of food-to-go products for convenience and small stores in the US. Its principal customer is 7-Eleven, with whom it has partnered for over 20 years.

The IFC, a member of the World Bank Group, and the Islamic Development Bank (IDB) have announced an investment of up to $100 million to support the construction of major infrastructure projects across the Middle East and North Africa.

The investment is part of an effort to stimulate economic growth in the MENA region. The IFC and IDB are each investing $50 million in the Arab Infrastructure Investment Vehicle (AIIV), part of the Arab Financing Facility for Infrastructure (AFFI), a joint initiative of the World Bank, the IDB and IFC.

Indian steel giant Tata has announced it plans to invest £800 million into Wales’ steel making industry over the next five years.

First minister Carwyn Jones recently met the vice chairman of Tata Steel, Mr B Muthuraman, in Mumbai as part of a government trade mission to the country.