General Dynamics is set to acquire Metro Machine Corp, a US surface-ship repair company that supports the US Navy fleet in Norfolk, Virginia.

The transaction is subject to normal regulatory approvals and is expected to close in November. The value of the cash transaction has not been disclosed, however.

Metro Machine Corp. is a privately held company employing approximately 400 people. It has been conducting US Navy ship repair and conversions since 1972.

SABMiller has agreed to acquire Australia’s Foster's Group for approximately A$9.9 billion (£6.5 billion).

London, UK-based SABMiller said the acquisition is consistent with its strategic priorities and will provide it with exposure to Australia's strong economic growth prospects, as well as cementing its position in the Australian beer industry.

Melbourne-based Foster’s is Australia’s biggest brewer; and acquiring it will give SABMiller access to roughly half of the Australian beer market.

Ireland’s PetroNeft Resources has announced the discovery of an additional oil field within its licence at North Varyakhskaya, Russia.

The field is the seventh to be discovered in Licence 61, which is situated at Tomsk Oblast in south-western Siberia.

Tungolsky Licence 61, acquired by the company in May 2005, is located on the east side of the Ob River in the least explored oil-bearing region in the area. The licence covers 4,991 square kilometres.

Proven plus probable reserves within the licence area are estimated to be 83 million barrels.

US convenience retailer 7-Eleven has agreed to acquire the retail interests of 28 locations from Pacific Convenience & Fuels LLC (PC&F).

Located in the western half of the US, the acquisition includes sites in California, Oregon, Washington and Colorado, and brings the retailer’s acquisitions this year up to over 400 sites.

The transaction is expected to close in the fourth quarter of 2011, subject to closing conditions and regulatory approvals. Terms of the deal were not disclosed.

Swiss power and technology group ABB has announced it is to construct two solar photovoltaic (PV) power plants for Eskom, South Africa’s national electricity provider.

The two one-hectare pilot plants will be located on greenfield sites adjacent to the coal-fired power stations at Lethabo in the Free State, and Kendal in Mpumalanga. They will be the first of their kind to be built in South Africa.

City Power Johannesburg (Pty) Ltd is working hard to maintain its reputation for exceeding the expectations of its customers and stakeholders; and it is receiving plenty of recognition along the way.

Jaguar Land Rover has announced plans to create 750 new jobs at a new engine plant in the West Midlands, UK.

With an investment of £355 million, the project is set to significantly boost the economy in the local area and support the development of manufacturing and skills in the UK. Further jobs are also expected to be created within the wider supply chain.

The plant will manufacture new four-cylinder, low-emission petrol and diesel engines.

August Zerwick, managing director of South Africa-based engineering solutions provider MegChem, talks to Jayne Alverca about the company’s unique approach to managing complexity.

Marriott International has identified enormous growth potential in the Middle East and Africa. Ed Fuller, president and managing director of International Lodging in the region, talks to Jayne Flannery about the rationale and strategy that underpins the expansion.