MUMBAI, India-Friday 6 May 2022 [ AETOS Wire ]
(BUSINESS WIRE) -- The Boards of Directors of LTI and Mindtree at their respective meetings held today approved a composite scheme of amalgamation of both these independently listed IT services companies under the Larsen & Toubro Group. The proposed integration will see LTI and Mindtree join strengths to create an efficient and scaled-up IT services provider exceeding $3.5 Bn. The transaction is subject to shareholder and regulatory approvals.
Both LTI and Mindtree have delivered market leading financial performance and created value for shareholders. Given that recent industry shifts (e.g., prominence of large deals, preference for end-to-end offerings) are benefitting at-scale players, the two companies have decided that the time is appropriate to combine the strengths of both organizations to better serve the customers.
Significant scale benefits are anticipated through LTI and Mindtree’s complementa
...
Read more »
|
Ajman, United Arab Emirates-Friday 6 May 2022 [ AETOS Wire ]
Al Zorah Development Company, a joint venture between the Government of Ajman and Solidere International PLC, has selected The Oberoi Group to manage its new luxury beachfront resort.
The new hotel development will enable the expansion of the Al Zorah luxury hospitality experience. The new hotel will span approximately 828,767 square feet, with 174 luxurious guestrooms, and 28 one-bedroom private villas set at the pristine white sandy beach of Al Zorah.
George Saad, CEO of Al Zorah Development Company, said: "We are thrilled to add such a luxury new experience to our portfolio. The Oberoi Group's new luxury resort will further strengthen the positioning of Al Zorah as a luxury hospitality, golf, and wellness destination, and will offer unparalleled service to guests and residents”.
Saad added “The new resort will increase the portfolio of Al Zorah to 269 luxury hot
...
Read more »
|
Contributing to food production and food security in Ukraine's war-affected areas
DULUTH, Ga.-Friday 6 May 2022 [ AETOS Wire ]
(BUSINESS WIRE) -- The AGCO Agriculture Foundation (AAF), a private foundation with the vision to prevent and relieve hunger through sustainable agricultural development, today announced a $50,000 donation to an initiative called "BORSCH" implemented by the Land Club, a non-profit organization in Ukraine. The donation will help "BORSCH" contribute to Ukraine's food and nutrition security during this crisis and improve the livelihoods of Ukrainian farming communities affected by the war.
Expanding on the AAF Ukraine Humanitarian Aid program, the AAF donation to the "BORSCH" initiative will contribute to the purchase of so-called “borsch set” vegetable seeds, namely cabbages, carrots, onions, beetroots, and potatoes. The seeds will be distributed freely to farmers for the planting season
...
Read more »
|
Construction underway since March 2022 for the first 100 MWh EVx system to support grid resiliency and delivery of renewable energy to the Chinese national grid
LUGANO, Switzerland & WESTLAKE VILLAGE, Calif. & HOUSTON & BEIJING-Friday 6 May 2022 [ AETOS Wire ]
(BUSINESS WIRE) -- Energy Vault Holdings, Inc. (NYSE: NRGV, NRGV WS) (“Energy Vault), a leader in sustainable, grid-scale energy storage solutions, today announced the groundbreaking for the first EVx™ deployment in China.
The 100 MWh gravity-based EVx system is being built adjacent to a wind farm and national grid site in Rudong, Jiangsu Province located outside of Shanghai to augment and balance China’s national energy grid through the delivery of renewable energy to the State Grid Corporation of China (SGCC). SGCC is the world’s largest utility and provides power to more than 1.1 billion Chinese citizens in 26 provinces, autonomous regions and municipalities, cover
...
Read more »
| |