Done Deals
Sub.tv, an interactive entertainment channel for students, and Gym Screen Media, a national health club network, have agreed to merge. The new venture will be known as Media 42 Group and aims to “create the platform for a cross-sector digital media group”. The financial details of the merger have not been disclosed.
Tribal Group Plc, a provider of consultancy, support and delivery services to the public sector, has completed the acquisition of Newchurch, a business consultancy focused on healthcare, for up to £10.5 million.
Insurance group QBE has acquired US-based underwriting agency Burnett & Co. The financial details of the transaction have not been disclosed.
Leeds-based design company Mediant has merged with Skipton-based website business Thorpe Enterprises and software firm Idealogic to form a new media and technology company that will trade as Kohd. The terms of the transaction have not been disclosed.
Insurance broker CH Jeffries has sold its pensions and financial planning subsidiary to David Foster, a local financial adviser who has been with CH Jeffries for 30 years. The size of the transaction has not been revealed.
Centrica Plc, the owner of British Gas, has agreed to acquire a 67 per cent stake in the York gas development from global independent energy company Hess for £22 million.
ReneSola Ltd, the AIM-traded manufacturer of solar wafers for use by the solar power industry, has announced that its wholly owned subsidiary, Sichuan ReneSola Material Co, has secured RMB800 million (£83 million) from China Construction Bank.
Deals in the Pipeline
Tranter, a Texas-based manufacturer of gasket and welded heat exchanger products and technology, has announced the acquisition of Pressko, located in Artern, Germany. The size of the deal remains undisclosed.
Shares of HJ Heinz Co rallied on Monday after financial title Barron’s said the ketchup maker could become an acquisition target once credit markets improve. Heinz could become a target in the next few years of Kraft Foods Nestlé SA or Unilever.
