- Saudi Arabia's sovereign wealth said on Thursday it will make electric cars in the kingdom under a joint venture with Apple supplier Foxconn as part of a push to build new industries and lessen dependence on oil.
- Ceer "is the first Saudi automotive brand to produce electric vehicles in Saudi Arabia, and will design, manufacture and sell a range of vehicles for consumers in Saudi Arabia and the MENA (Middle East and North Africa) region, including sedans and sports utility vehicles," PIF said in a statement.
- Gulf Islamic Investments (GII), a leading shari’ah-compliant investment management company headquartered in the UAE, has acquired two German senior care facilities as part of its latest acquisitions through the euro 500 million (($498.2 million) European senior living fund.
- The Fund, which has been set up as a joint venture with Capital Bay Group, has its primary focus in Germany, enabling Mena-based investors to participate in this highly desirable asset class, providing resilience and above-average returns in comparison to other European real estate opportunities.
- Emerson will receive upfront, pre-tax cash proceeds of approximately $9.5 billion and a note of $2.25 billion at close and retain 45% common equity ownership of the new standalone Climate Technologies business, which will be structured as a joint venture between Emerson and Blackstone, until its potential sale or IPO.?
- The cash consideration will be funded by $5.5 billion of fully committed debt financing ($6.2 billion inclusive of an unfunded ABL facility) and $4.4 billion of equity contribution from Blackstone.
- The investment supports Aspen’s organic and acquisition-driven growth strategy targeting the community, multifamily, and commercial & industrial (C&I) solar and storage markets. To launch this strategy, Aspen has acquired Safari Energy, LLC (Safari) from PPL Corporation (NYSE: PPL).
- The acquisition of Safari represents one of the industry’s largest distributed solar C&I transactions to date.
