KME has acquired a 30 per cent stake in Naples-based Metalbuyer, a dealer in ferrous and non-ferrous metals, mostly scrap, for €1.5 million (£1.3 million). KME has an option to buy a further 21 per cent within three years.

Other deals

• Avisen, the AIM-quoted performance management specialist, has agreed to acquire Wexner Global Ltd, a strategy and performance management consultancy firm, in an all-share deal worth £120,000.
• August Equity-backed Enara Group, a provider of private and social services-based home care in London and the home counties, has acquired County Care and certain assets from The Home Service Group.
• Leaf Clean Energy Company, an AIM-listed venture established to invest in clean energy companies and projects in North America, has made a $12.2 million investment in Telogia.
• Australia’s Babcock & Brown Infrastructure Group has sold a 58 per cent stake in Powerco, New Zealand’s third-largest electricity and gas network utility, for NZ$423 million (£149 million). The proceeds will be used to reduce its debt burden.
• Associated Newspapers, the newspaper division of Daily Mail and General Trust Plc, has completed the sale of a 75 per cent stake in the Evening Standard after an employee consultation process.

Deals in the Pipeline

• UK oil and gas group BG has raised its takeover bid for Pure Energy Resources from A$8.00 (£3.60) to A$8.25 per share, on condition that BG acquires a “relevant interest” in 90 per cent of Pure’s ordinary share capital.
• NeutraHealth Plc, a UK vitamin and supplement company with a turnover of around £30 million, has received an unsolicited approach from major shareholder Elder Pharmaceuticals. Elder is looking to increase its shareholding from 21 per cent to between 50 and 60 per cent at an offer price of around 5.5p per share.