Fintech PR

H.I.G. WhiteHorse Europe Provides Financing to Altares

Published

6 hours ago

October 24, 2024

hig.-whitehorse-europe-provides-financing-to-altares

LONDON, Oct. 24, 2024 /PRNewswire/ — H.I.G. WhiteHorse Europe, a credit affiliate of global investment firm H.I.G. Capital (“H.I.G.”), is pleased to announce that it has arranged a financing package for Altares (“Altares” or the “Group”).

Supported by Naxicap Partners since 2016, Altares is a leader in the business data and analytics market, offering its expertise to B2B customers across the entire data value chain in Finance Intelligence, Sales Intelligence, ESG, and Compliance.

H.I.G. WhiteHorse Europe acted as sole arranger and sole underwriter of a €93 million financing package, which will refinance Altares’ existing indebtedness and support its next stage of growth.

Luc Querton, President of Altares, said: “We strive to reveal growth opportunities for our clients, support them in managing credit risks, advise them on the ESG profiles of their third parties, and help ensure compliance with applicable regulations. This financing allows us to sustain our growth while continuing to deliver innovative technologies which meet our clients’ increasingly complex requirements across these four areas.”

Pascal Meysson, Head of H.I.G. WhiteHorse Europe, said: “Altares benefits from a unique brand image and leadership position in the growing business data, digitalization, and analytics industry. The financing we provided reflects our confidence in the expansion strategy implemented by Altares’ management team, alongside Naxicap Partners.”

About Altares

A leader in business insights, Altares collects, structures, analyses and enhances B2B data to make them “smart” and powerful to facilitate decision-making by its customers. The Group offers its expertise across the entire data value chain in financial risk, compliance, sales and marketing, and master data management. Altares has an exclusive partnership in France, Benelux and North Africa with Dun & Bradstreet, the world’s leading global provider of business decisioning data and analytics for almost 200 years. This makes Altares the partner of choice for executives in all sectors offering them unprecedented access to database of over 550 million companies in more than 240 countries. For more information, visit altares.com.

About Naxicap Partners

As one of the top private equity firms in France, Naxicap Partners has €6.7 billion in assets under management. As a committed, responsible investor, Naxicap Partners builds solid, constructive partnerships with entrepreneurs so that their projects can succeed. The firm has 95 investment professionals spread across five offices in Paris, Lyon, Toulouse, Nantes, Frankfurt, and Zurich. For more information, visit naxicap.com/en.

About H.I.G. Capital

H.I.G. is a leading global alternative investment firm with $65 billion of capital under management.* Based in Miami, and with offices in Atlanta, Boston, Chicago, Los Angeles, New York, and San Francisco in the United States, as well as international affiliate offices in Hamburg, London, Luxembourg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro, São Paulo, Dubai, and Hong Kong, H.I.G. specializes in providing both debt and equity capital to middle market companies, utilizing a flexible and operationally focused/value-added approach:

H.I.G.’s equity funds invest in management buyouts, recapitalizations, and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.
H.I.G.’s debt funds invest in senior, unitranche, and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as in the secondary markets. H.I.G. also manages a publicly traded BDC, WhiteHorse Finance.
H.I.G.’s real estate funds invest in value-added properties, which can benefit from improved asset management practices.
H.I.G. Infrastructure focuses on making value-add and core plus investments in the infrastructure sector.

Since its founding in 1993, H.I.G. has invested in and managed more than 400 companies worldwide. The Firm’s current portfolio includes more than 100 companies with combined sales in excess of $53 billion. For more information, please refer to the H.I.G. website at hig.com.

*Based on total capital raised by H.I.G. Capital and affiliates.

Contact:

Pascal Meysson
Head of H.I.G. WhiteHorse Europe
[email protected]

Laurent Vaille
Principal
[email protected]

H.I.G. WhiteHorse Europe
10 Grosvenor Street
2nd Floor
London W1K 4QB
P +44 (0) 207 318 5700
hig.com

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Fintech PR

Bahrain Set to Host Second Edition of Gateway Gulf in November

Published

41 mins ago

October 24, 2024

CISION (PR Newswire)

bahrain-set-to-host-second-edition-of-gateway-gulf-in-november

Unveiling the theme ‘Investing in a Rapidly Transforming Region’- the invitation-only forum is set to welcome ministerial and business leaders from across the most powerful economies in the world

MANAMA, Bahrain, Oct. 24, 2024 /PRNewswire/ — Bahrain is gearing up to host the second edition of Gateway Gulf, which is scheduled for November 3 and November 4, 2024, at the Four Seasons Hotel, Bahrain Bay. Held under the timely and relevant theme of ‘Investing in a Rapidly Transforming Region,’ the second edition of the forum is set to welcome an intimate, high-level gathering of the top 250 ministerial and senior-government officials, C-level business professionals, and executive investors from leading markets across America, Europe, Asia, the Gulf Cooperation Council (GCC) and beyond.

Hosted by the Bahrain Economic Development Board (Bahrain EDB) with the support of senior government officials across the Kingdom’s finance, investment and industry portfolio, the invitation-only forum will serve as a platform that encourages open dialogue, sustained economic growth, knowledge progression, and international economic integration. Featuring forward-looking plenary sessions and audience-tailored workshops, as well as a highly personalised agenda complete with private meetings, project site visits, and cultural experiences, Gateway Gulf 2024 will push the boundaries of business-as-usual, facilitating mutually beneficial and tangible investment opportunities. Attendees can expect to discover awakening insightful deliberations on how global trends are playing out in the region, how best to tackle universal concerns, and untapped opportunities that lie ahead.

In addition to highlighting key investment opportunities across the island nation’s priority sectors, discussions at Gateway Gulf 2024 will revolve around the growing collaborative ties unifying the region, underscoring how co-investments can facilitate a more prosperous and sustainable future. In an era that is increasingly witnessing the defragmentation of supply chains, the forum will lay the groundwork for bridging a fractured world, shedding light on the achievements of the region in delivering action-oriented solutions for a brighter future.

Ushering in a new spirit of partnership, Gateway Gulf will host focused roundtables on the sidelines of the forum to ignite engaging and data-fueled discussions to address global challenges and maintaining prosperity across prime industry sectors. Moreover, the curated Majlis-inspired sessions will pair high-ranking ministers with C-suite experts from the private sector on the most pressing issues facing the region.

The GCC countries represent one of the greatest development success stories of the century. As the region continues to secure impressive strides towards ambitious economic diversification targets, numerous attractive investment opportunities emerge. With a view to revealing actionable insights and fostering collaboration, Gateway Gulf will feature a central exhibition space that will showcase large scale projects, where a flurry of greenfield milestone investments is expected to be announced during the highly anticipated forum.

The Gulf economies are projected to grow by 3.5% in 2024 to a combined total of about USD 2.1 trillion and expected to reach USD 2.8 trillion by 2030, according to the International Monetary Fund. With the non-oil sector contribution to GDP standing at 84% in 2023, Bahrain has earned its position as the most diversified economy in the Gulf. To maintain its positive trajectory of economic growth, the future-ready island nation has prioritized investing in the development of high-value sectors, its diverse human capital, digital transformation initiatives, and key infrastructure projects.

Contact:

Yehia Issa
[email protected]
+971 55 267 0405

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Fintech PR

Saudi Arabia’s Ministry of Industry and Mineral Resources Invites Mining Companies to Join Its 7th Licensing Round

Published

3 hours ago

October 24, 2024

CISION (PR Newswire)

RIYADH, Saudi Arabia, Oct. 24, 2024 /PRNewswire/ — The Ministry of Industry and Mineral Resources (MIM) is inviting exploration and mining companies to participate in its 7th round of exploration licensing. The licensing round, consisting of 7 sites with a total area of more than 1070 sq. km, will be open for bidding from mid Of October, with Successful bidders set to be announced in December.

The sites up for auction include;

Wadi al Lith: covers an area of 243.87 km2 and is located within the Mecca Region, 200 km from Jeddah. Commodities on the site include Cu, Au, and Zn.
Jabal Baudan: covers an area of 244.92 km2 and is approximately 200km south of Jeddah. The site contains commodities like Cu, Au, and Zn.
Jabal Sabha: covers an area of 171.5 km² in the central part of Saudi Arabia, approximately 650km from the Jeddah port. Commodities include Ag/Pb/Zn (Nb, Au, Co).
Jabal al Ad Dimah: covering an area of 210.90 km2, is located approximately 200km south of Jeddah. It contains deposits of Cu, Au, and Zn.
Jabal al Klah North: is part of the Ad Dawadimi Terrane located in the eastern part of the Arabian Shield, 750 km northeast of Jeddah and 320 km from Riyadh. It covers an area of 98,15 km2 and contains large deposits of Ag, Pb, and Zn.
Jabal al Klah South: covers an area of 19,21 km2. The site is part of Ad Dawadimi Terrane, located in the eastern part of the Arabian Shield, 750 km northeast of Jeddah and 320 km from Riyadh. Commodities include Ag, Pb, and Zn.
Umm Hijlan (Mamilah): covers an area of 78.4 km².The site is located in Mecca region, approximately 270km from the Jeddah port. Commodities include Au,Pb and Cu

Interested investors are invited to view the Information Memorandum by visiting Ta’adeen website at https://taadeen.sa/en/mining-bids to access the data room for the sites.

Saudi Arabia offers several competitive incentives to support investors across various sectors and industries. These include 75% co-funding for capital expenditure (CAPEX), a five-year exemption on royalty fees, discounts of up to 30% for local downstream processing (with potential savings of up to 90%), a competitive 20% corporate tax rate, and the advantage of 100% foreign direct ownership.

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Fintech PR

Kindred Group applies for delisting

Published

4 hours ago

October 24, 2024

CISION (PR Newswire)

SLIEMA, Malta, Oct. 24, 2024 /PRNewswire/ — La Française des Jeux SA’s (“FDJ”) recommended public offer to the holders of Swedish Depository Receipts (the “SDRs”) in Kindred Group plc (“Kindred” or the “Company”) to tender all their SDRs in the Company at a price of SEK 130 in cash per SDR (the “Offer”) was declared unconditional on 3 October 2024. After the end of the extended acceptance period, FDJ controls in total approximately 98.60 percent of the outstanding SDRs in the Company. Against this background, the board of directors of Kindred has today applied for delisting of the SDRs in Kindred from Nasdaq Stockholm.

On 22 January 2024, FDJ announced a recommended public cash offer to the holders of SDRs in Kindred to tender all their SDRs in the Company at a price of SEK 130 in cash per SDR. On 3 October 2024, FDJ announced that the Offer had been accepted to such an extent, as at the end of the initial acceptance period on 2 October 2024, that FDJ would become the owner of 90.66 percent of all the outstanding SDRs in Kindred and declared the Offer unconditional. Since the time of announcement of the Offer, FDJ had also acquired an additional 2,400,000 SDRs, corresponding to approximately 1.11 percent of the outstanding SDRs in Kindred, from Veralda at a price not exceeding the price in the Offer. As a result, FDJ controlled in total 198,059,291 SDRs, corresponding to approximately 91.77 percent of the outstanding SDRs in the Company.^[1]

In order to provide the remaining holders of SDRs in the Company with the opportunity to accept the Offer, FDJ extended the acceptance period of the Offer until and including 18 October 2024. During the extended acceptance period, the Offer has been accepted by SDR holders with a total of 14,734,917 SDRs, corresponding to approximately 6.83 percent of the outstanding SDRs in the Company. After the end of the extended acceptance period, FDJ thus controls in total 212,794,208 SDRs, corresponding to approximately 98.60 percent of the outstanding SDRs in the Company. FDJ has on 23 October 2024 initiated squeeze-out proceedings of the SDRs in Kindred not held by FDJ, and requested that the board of directors of Kindred applies for delisting of the SDRs in the Company from Nasdaq Stockholm.

In light of the above, the board of directors of Kindred has today, in accordance with FDJ’s request, applied for delisting of the SDRs in the Company from Nasdaq Stockholm. Kindred will announce the last day of trading as soon as Nasdaq Stockholm has confirmed the date to the Company.

For more information:
Patrick Kortman, Interim CFO
[email protected]

The information was submitted for publication, through the agency of the contact person set out above, at 17:55 (CET) on October 24, 2024.

About Kindred Group

Kindred Group is one of the world’s leading online gambling operators with business across Europe and Australia, offering over 30 million customers across 9 brands a great form of entertainment in a safe, fair and sustainable environment. The company, which employs approximately 2,500 people, is listed on Nasdaq Stockholm Large Cap and is a member of the European Gaming and Betting Association (EGBA) and founding member of IBIA (International Betting Integrity Association). Kindred Group is audited and certified by eCOGRA for compliance with the 2014 EU Recommendation on Consumer Protection and Responsible Gambling (2014/478/EU). As of 11 October 2024, La Francaise des Jeux is the majority shareholder in Kindred Group plc. Read more on www.kindredgroup.com.

Nasdaq Stockholm, KIND-SDB

^[1] Based on 215,823,068 outstanding SDRs in Kindred, which excludes 14,303,068 treasury SDRs held by Kindred. Each SDR carries one vote.

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/kindred-group/r/kindred-group-applies-for-delisting,c4055941

The following files are available for download:

https://mb.cision.com/Main/824/4055941/3074289.pdf

Project Odin – Application for delisting Final

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