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Colliers’ Sankey Prasad appointed Chairman and Managing Director for India & CMD for Colliers Project Leaders Middle East
Expanded leadership role for Sankey Prasad to capitalise on the growing potential of the real estate market in the Middle East
DUBAI, UAE, Jan. 24, 2024 /PRNewswire/ — Global diversified professional services and investment management company, Colliers (NASDAQ: CIGI) (TSX: CIGI), announced today that Sankey Prasad will expand his leadership role to include Project Leaders in the Middle East.
Effective immediately, Mr. Prasad becomes Chairman and Managing Director for India & CMD for the Middle East Engineering business which is under the name of Colliers Project Leaders Middle East. He will also take a significant stake in Colliers’ rapidly growing Project Management business in the Middle East, supporting the region’s flourishing real estate market in collaboration with Colliers’ existing real estate service business in the Middle East and North Africa (MENA) region.
Mr. Prasad is an eminent leader in the real estate industry in India. He founded India’s largest project management firm, and following Colliers’ acquisition, was appointed Chairman & Managing Director India, leading a team of 3000-plus Colliers’ professionals.
“The expansion of Sankey’s role to incorporate Project Leaders operations in the Middle East deepens Colliers’ capabilities, qualifications and relationships in both India and the Middle East, to better serve our clients across the region,” John Kenny, Colliers’ CEO, Asia Pacific, said.
“Sankey embodies the spirit of Colliers’ enterprising culture through his collaboration and determination to build scale. His leadership has been an invaluable asset in our growth in India, and we are thrilled that he will now broaden his focus to the Middle East in pursuit of Colliers’ ambitious Enterprise ’25 Growth Strategy.”
In his expanded role, Mr. Prasad will collaborate closely with Yamin Shihab, Vice President, Project Leaders Middle East, to support the expansion of Colliers’ brand reach and service delivery for clients’ capital projects. He will also continue to oversee the impressive growth of Colliers’ India business alongside CEO Badal Yagnik, who will continue to lead day-to-day operations and build scale for the India business.
“I am deeply honored to have been given the incredible opportunity to lead Colliers in India and Project Leaders Middle East,” Mr. Prasad said. “I have always been driven to achieve the best possible outcomes for our clients and people and am truly fortunate to have played an instrumental role in shaping Colliers’ inspiring success story in India. I am now eagerly looking forward to doing the same in the Middle East, while also continuing to grow our India story.
“With our exceptional talent, unparalleled processes, and robust and client-focused approach, I am confident that we will strengthen our client relationships, enhance our scale, and successfully conclude some of the most remarkable assignments across these geographies, thereby expanding the Colliers brand and cementing our position as a leader in the real estate industry.”
With close to four decades of real estate experience, Mr. Prasad has a reputation for driving strategy and growth, and creating high-performing teams that have delivered some of the most complex and challenging projects for investors, developers and occupiers of real estate. Under his leadership in India, Colliers has diversified into new markets; developed cutting-edge technologies; expanded its range of services; delivered more than 130 million sqft of real estate development spanning India, Middle East, Africa and South Asia; and achieved 30% YOY growth in four years.
Mr. Prasad has been the recipient of numerous accolades and awards, including ‘Most Inspiring Leader’ at the India–Gulf Business Summit 2023, ‘Global Indian Icon of the Year 2023′ at the Indian Real Estate Show 2023, and Economic Times’ ‘Most Promising Entrepreneur, India 2016′.
Media Contact:
Sukanya Dasgupta
Head of Marketing & Communications | India
Sukanya.dasgupta@colliers.com
+91 9811 867 682
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Combined group would create an industry leader with an extensive global product portfolio and financial strength to support long-term growth objectives
TORONTO and LONDON, Nov. 29, 2024 /PRNewswire/ — ABC Technologies (the “Company”) today announces that it has reached an agreement on the terms of a recommended all-cash offer for the acquisition by ABC Technologies Acquisitions Limited of the entire issued and to be issued ordinary share capital of TI Fluid Systems plc (“TI Fluid Systems”).
TI Fluid Systems is a London-listed, market-leading global manufacturer of thermal and fluid system solutions for the full range of current and developing vehicle architectures. Operating across 27 countries and serving all major automotive manufacturers, TI Fluid Systems has a commitment to operational excellence and sustainability worldwide.
Together, ABC Technologies and TI Fluid Systems will enjoy an expanded global footprint and enhanced product portfolio. This will allow access to a broader and more diversified range of customers, including some of the largest and most recognizable automotive OEMs and Tier One suppliers worldwide.
“This transaction is a transformative strategic opportunity which unlocks value for all of our stakeholders and provides a platform for further growth,” said Terry Campbell, President and CEO, ABC Technologies. “A combined business will enable us to better serve our customers, and I am excited for our teammates as we continue to build a winning future. We will be persistent in seeking alignment with organizations that have proven capabilities to further ABC’s success story.”
Combining the rich heritages of ABC Technologies and TI Fluid Systems – both established leading manufacturers across different product segments – will create a business that benefits from an enhanced go-to-market proposition and greater financial strength to support the long-term growth objectives and a winning vision for the future. ABC Technologies is majority-owned by funds managed by affiliates of Apollo Global Management, Inc.
Under the terms of the transaction, shareholders of TI Fluid Systems will be entitled to receive 200 pence a share, valuing TI Fluid Systems at an enterprise value of approximately £1,831 million.
The Acquisition is currently expected to complete in H1 2025, subject to shareholder and other relevant legal and regulatory approvals.
Lazard acted as lead financial advisor to ABC Technologies; Citi, TD Securities and Scotiabank also acted as financial advisers.
Kirkland & Ellis International acted as legal advisor to ABC Technologies and Paul, Weiss, Rifkind, Wharton & Garrison acted as legal advisor in respect of regulatory and financing matters.
This press release must be read in conjunction with the Rule 2.7 announcement which is available on the London Stock Exchange RNS and along with other documents related to the transaction on www.projectgolfoffer.com.
About ABC Technologies
ABC Technologies is a leading global manufacturer and supplier of custom, highly engineered, technical plastics, and light-weight innovations to the North American light vehicle industry. Serving more than 25 major original equipment manufacturer customers in 8 countries, the Company is strategically placed to offer vertically integrated product and process solutions through a skilled workforce of over 11,000 team members. ABC Technologies is majority owned by certain of the affiliated funds of Apollo Global Management, Inc. and its subsidiaries, with funds managed by Oaktree Capital Management, L.P. owning a minority equity interest in ABC Technologies. Additional information about the Company can be found at www.abctechnologies.com.
Additional Information
This announcement is not intended to, and does not, constitute or form part of any offer, invitation or the solicitation of an offer to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of, any securities whether pursuant to this announcement or otherwise. Any offer (if made) will be made solely by certain offer documentation which will contain the full terms and conditions of any offer (if made), including details of how it may be accepted.
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STOCKHOLM, Nov. 29, 2024 /PRNewswire/ — Hoist Finance AB (publ) has successfully issued SEK 700 million of senior non-preferred bonds with a tenor of 4.25 years. The bonds were issued under Hoist Finance’s EMTN program and were priced at 3-months STIBOR +250 basis points.
“I am very pleased to announce Hoist Finance’s first broadly distributed issue of senior non-preferred bonds, which was met by strong demand from more than 20 Nordic investors. This is the first senior non-preferred bond issue by a Nordic non-SIFI bank. This issuance marks an important step for our strategy to promote continued growth while maintaining a cost-efficient capital structure and supporting our investment grade credit rating from Moody’s,” says Harry Vranjes, CEO of Hoist Finance.
The proceeds from the bond issue will be used for general corporate purposes. The instruments will be listed on the regulated market Irish Stock Exchange plc, known as Euronext Dublin. The bonds are expected to be rated Ba1 by Moody’s.
Senior non-preferred bonds
Senior non-preferred bonds are subordinated to senior preferred bonds in the hierarchy of repayment.
For more information, please contact:
Karin Tyche, Chief Investor Relations and Communications Officer
[email protected]
+46 76 780 97 65
About Hoist Finance
Hoist Finance is an asset manager specialised in non-performing loans. For more than 25 years, we have focused on investing in and managing debt portfolios. We are a partner to international banks and financial institutions across Europe, acquiring non-performing loan portfolios. We are also a partner to consumers and SMEs in a debt situation, creating long-term sustainable repayment plans enabling them to convert non-performing debt to performing debt. We are present in 12 markets across Europe and our shares are listed on Nasdaq Stockholm. For more information, please visit hoistfinance.com.
This information was brought to you by Cision http://news.cision.com
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MARKING ITS NINTH STRATEGIC PARTNERSHIP WITH GLOBAL WEALTH FUNDS
MUSCAT, Oman, Nov. 29, 2024 /PRNewswire/ — As part of His Majesty Sultan Haitham bin Tarik’s state visit to the Republic of Türkiye, Oman Investment Authority (OIA), Oman’s Sovereign Wealth Fund, announced a US$500 million collaboration with Türkiye’s state-owned OYAK Fund. This joint capital allocation, with equal contributions from both entities, underscores Oman’s commitment to strengthening economic ties with global partners while advancing mutual growth and development.
This partnership will focus on investments in Oman and Türkiye, with prospects for expansion into other international markets.This initiative further reinforces OIA’s ongoing strategy to establish high-value investment alliances that deliver significant financial and strategic returns.
H.E. Abdulsalam bin Mohammed Al Murshidi, President of the Oman Investment Authority, stated: “We have built a global reputation and sufficient expertise to form impactful partnerships that bring tangible benefits to Oman’s economy. This latest collaboration with OYAK Fund seamlessly aligns with our strategic objectives to expand our investment network and secure meaningful returns.”
OYAK General Manager Süleyman Savaş Erdem added, “The joint fund we have established with the Oman Investment Authority is an indication of the trust in our country and our corporation. With this fund, we will be making investments in strategic areas not only in both countries, but also in different regions of the world. This partnership will strengthen our vision of being a global company.”
OYAK Fund brings significant resources and expertise to this collaboration, enhancing its potential to drive economic growth in both countries. Key industries targeted for investment include mining, metals, automotive manufacturing, logistics, chemicals, agriculture, food production, and energy. It also aims to facilitate technology transfer and localize expertise in Oman, fostering capacity building and knowledge sharing.
This agreement marks OIA’s ninth strategic partnership with global entities, building on successful collaborations with Saudi Arabia, Qatar, Spain, Brunei Darussalam, Vietnam, Uzbekistan, Pakistan, and India. These alliances have delivered positive outcomes, such as new investments, profitable exits, and increased capital allocations. The authority’s growing portfolio underscores its pivotal role in driving Oman’s economic diversification and international economic diplomacy.
By leveraging the expertise and resources from trusted international partners, OIA continues to pave the way for sustained economic growth and prosperity for the Sultanate of Oman.
Contact:
For more information, please contact:
Fahad Al Toubi, Senior Specialist – Media Relations
+968 92155655
[email protected]
Photo – https://mma.prnewswire.com/media/2569604/Oman_Investment_Authority.jpg
View original content:https://www.prnewswire.co.uk/news-releases/oia-announces-a-us500-million-strategic-collaboration-with-turkiyes-oyak-fund-302318625.html
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